Announcement of increase in offer size in empower IPO from 15% to 20%

Announcement of increase in offer size in empower IPO from 15% to 20%

- New Offering size of 2,000,000,000 ordinary shares, implying a new deal size of 20.0% of the existing share capital (up from 15.0%)

- The Qualified Investors Tranche (referred to as “Second Tranche” in the UAE prospectus) will increase from 1,400,000,000 ordinary shares to 1,900,000,000

- The Retail Tranche will remain unchanged

- The subscription period for the UAE Retail Offering as well as the Qualified Investors Offering remains unchanged and will close on 7th November and 8th November respectively

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 further increase the number of shares offered in Empower’s initial public offering (“IPO” or the “Offering”) from 1,500,000,000 ordinary shares to 2,000,000,000 ordinary shares.

This would result in an additional increase in the Offer Size from 15.0% to 20.0% of Empower’s share capital, with DEWA and Emirates Power continuing to own 56.0% and 24.0% of Empower’s existing share capital respectively following the Offering.

Empower has also received approval