On the afternoon of March 24, 2025, local time, SEPCOIII officially signed the EPC contract for the 1800MW combined cycle power plant expansion project PP12 in Saudi Arabia with the Saudi Electricity Company (SEC). The successful signing of this project marks a triple win for SEPCOIII in Saudi Arabia during the vibrant and flourishing month of March, including the 1800MW combined cycle power plant projects in Rumah, Nariya, and the PP12 expansion. This achievement, along with five consecutive wins in overseas market development in the first quarter, has ushered in a great start to the year!

The Saudi PP12 expansion project adopts the 7H-class gas turbine combined cycle technology, with a total installed capacity of 1800MW. It represents another milestone breakthrough in the deepening strategic cooperation between our company and the owner, SEC, following the Saudi PP13 and PP14 power plant projects. As a key project under Saudi Arabia's 'Vision 2030' energy transition plan, upon completion, the project will significantly enhance the reliability of Saudi Arabia's power grid, meet the rapidly growing industrial and residential electricity demand in the Riyadh region, and provide crucial support for Saudi Arabia's optimization of its energy structure and the construction of a clean, low-carbon modern power system.

This signing is an important practice for SEPCOIII to firmly establish the concept of 'priority and high-quality development overseas', implement the spirit of the Group's 2025 work conference and 2025 marketing conference, and unswervingly promote high-quality 'going global'. SEPCOIII will take this opportunity to continue to deepen energy cooperation with Middle Eastern countries, continuously enhance international competitiveness, provide strong momentum for the high-quality development of the 'Belt and Road', and contribute SEPCOIII's strength to the global energy transition!