Empower Notes Increase in DEWA’s Ownership Stake to 80.00%

Emirates Central Cooling Systems Corporation PJSC (“Empower” or “Company”), the world’s largest district cooling services provider listed on the Dubai Financial Market (“DFM”), today noted the announcement by Dubai Electricity and Water Authority PJSC (“DEWA”) regarding its agreement to transfer the full shareholding of Emirates Power Investment LLC (“EPI”) in Empower via Dubai Central Securities Depository LLC.

DEWA’s ownership in Empower increases from 56.00% of the Company’s issued share capital to 80.00%, reflecting an increase in DEWA’s controlling stake in Empower. EPI no longer holds any shares in the Company.

Ownership Structure Update:

DEWA’s shareholding will increase to 80.00%

EPI’s shareholding will reduce to 0.00%

Empower will continue to operate as an independent public company listed on the DFM, maintaining its focus on delivering efficient and sustainable district cooling services across Dubai.