Correction of the Previous Disclosure 04 Jun 2017

With reference to our previous disclosure dated 31st May 2017 entitled “Litigation Settlement in relation to the Final Power Claim”, Phoenix Power Company SAOG (the “Company”) would like to correct the Arabic version of the disclosure and clarify that the settlement agreement obliges the Company to pay to the EPC Contractor a settlement sum of United States Dollar 11.8 million, and not Omani Riyals. The English version of the disclosure remains correct.