On the afternoon of July 15, Zhao Qiming, the Chairman of SEPCOIII, went to Japan to hold a meeting with Naoki Ito, the Executive Officer and Chief Operating Officer of Marubeni Power & Infrastructure Services Div.. Chen Yunpeng, the Vice President of SEPCOIII, also attended the meeting.

Zhao Qiming reviewed the history of their cooperation and expressed gratitude to Marubeni for its assistance to the company. He also introduced SEPCOIII’s organizational structure, business layout, market expansion, and project progress. He stated that Marubeni as a globally renowned power investment developer, is one of SEPCOIII’s important partners in the global market. He looks forward to the two parties further leveraging respective advantages, deeply exploring the global business market, deepening practical cooperation in traditional energy and new energy fields, innovating cooperation models, and exploring cooperation paths. This will promote the realization of substantive progress in key projects and achieve high-quality and sustainable development goals of collaborative progress and mutual benefit.

Naoki Ito expressed gratitude to SEPCOIII for its support to Marubeni, and provided an introduction regarding Marubeni’s organizational restructuring and strategic planning. He stated that SEPCOIII as a capable and responsible EPC general contractor, not only has strong comprehensive strength but also demonstrates a strong development momentum. It promotes each other’s business. Looking towards the future, both parties hope to jointly explore diversified cooperation opportunities in the global energy sector. We will further expand cooperation boundaries and integrate high-quality resources around key country markets and key business areas, and work together to make greater contributions to the sustainable development of global energy.

At the meeting, Naoki Ito and Zhao Qiming signed the EPC contract for the Saudi Round 4 YAN Wind Power Project on behalf of both parties. The project has a generating capacity of 700MW. This is another groundbreaking new achievement in green energy that SEPCOIII has achieved in Saudi Arabia. Once completed, the project will not only significantly contribute to enhancing the economic benefits of electricity generation in Saudi Arabia, but also provide strong support for the realization of its strategic goal of "achieving around 50% share of renewable energy by 2030".

Relevant personnel of Marubeni and SEPCOIII attended the meeting.