Announcement of increase in number of shares offered to retail investors in Empower IPO

Announcement of increase in number of shares offered to retail investors in Empower IPO

- The Qualified Investors Tranche will be reduced from 1,900,000,000 ordinary shares to 1,700,000,000 ordinary shares

- The Offering size remains unchanged at 2,000,000,000 ordinary shares, implying a deal size of 20.0% of the existing share capital

- The subscription period for the UAE Retail Offering as well as the Qualified Investors Offering remains unchanged – the subscription period for the UAE Retail Offering closed yesterday, 7th November, while that for the Qualified Investors Offering closes today, 8th November

Dubai, UAE: Emirates Central Cooling Systems Corporation PJSC (“Empower” or the “Company”), today announces that, following approval from the Securities and Commodities Authority (“SCA”), Dubai Electricity and Water Authority PJSC (“DEWA”) and Emirates Power Investment LLC (“Emirates Power”), an indirectly wholly owned subsidiary of Dubai Holding LLC (“Dubai Holding”), (together the “Selling Shareholders”) have exercised their right to increase the number of shares offered in the First Tranche of Empower’s initial public offering (“IPO” or the “Offering”) from 100,000,000 ordinary shares to 300,000,000 ordinary shares, following significant demand and oversubscription from retail investors.

This will result in the Qualified Investors Tranche being reduced from 1,900,000,000 ordinary shares to 1,700,000,000 ordinary shares. The Offer size remains unchanged at 20.0% of Empower’s share capital, with DEWA and