RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 4, 2023 No. PP-207

About measures for implementation of the investment project "Construction of the Solar Photo-electric Station Capacity of 500 MW, Systems of Accumulating of Electrical Energy Capacity of 334 MW and the Substation Promoting Ensuring Its Functioning in Nurabadsky District of the Samarkand Region — Sazagan Solar 1"

For the purpose of stable providing the population and industries of economy with energy resources, reducing consumption of natural gas in case of power generation, and also broad attraction of direct foreign investments for expansion of scale of use of renewable energy resources:

1. Take into consideration that:

a) company "ACWA Power Company (Saudi Listed Joint Stock Company)" (Saudi Arabia) (further - the Investor) within the investment project "Construction of the Solar Photo-electric Station Capacity of 500 MW, Systems of Accumulating of Electrical Energy Capacity of 334 MW and the Substation Promoting Ensuring Its Functioning in Nurabadsky District of the Samarkand Region — Sazagan Solar 1" (further - the Investment project) in the Republic of Uzbekistan founds overseas enterprise in the form of ACWA Power Sazagan Solar 1 limited liability company (further - the Project company);

b) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade, the Investor and the Project company the investment agreement (further - the Investment agreement) providing implementation by the Investor and the Project company is signed on April 19, 2023:

designings, financings, construction and operation of the solar photo-electric station capacity of 500 MW and systems of accumulating of electrical energy capacity of 334 MW in Nurabadsky district of the Samarkand region throughout the entire period of implementation of the Investment project;

attraction of direct foreign investments in the amount of by provisional estimate of only 758 million US dollars with acceptance on possible risks;

c) between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company the Purchase agreement of electrical energy (further - the Purchase agreement of electrical energy) on April 19, 2023 is signed according to which:

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