RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 5, 2023 No. PP-215

About additional measures for construction of steam-gas power plant capacity of 1500 - 1600 MW in the Surkhandarya region

(Extraction)

For the purpose of acceleration of construction of the thermal power plant which is under construction in the Surkhandarya region and also steady providing the population and industries of economy with energy resources:

1. Take into consideration that:

a) (Netherlands) (further - the Investor) the investment project "Construction of Steam-gas Power Plant Capacity of 1 500 - 1 600 MW in the Surkhandarya Region" (further - the Investment project) at the expense of direct foreign investments is implemented by the Stone City Energy company;

b) for the purpose of implementation of the Investment project by the Investor SCE Quvvat LLC is created (further - the Project company);

c) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade, the Investor and the Project company the investment agreement is signed on April 22, 2021 (further - the Investment agreement);

d) between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company on April 22, 2021 within the Investment project the Purchase agreement of electrical energy is signed (further - the Purchase agreement of electrical energy);

e) when financing the Investment project Islamic development bank (IDB) and Islamic corporation on private sector development (ICD), and also other creditors participate;

e) according to requirements of creditors changes and additions are made to the Investment agreement and the Purchase agreement of electrical energy.

2. Within implementation of the Investment project:

approve changes and additions made on June 29, 2023 to the Investment agreement;

approve changes and additions made on May 8, 2023 to the Purchase agreement of electrical energy.

3. Determine that within financing of the Investment project:

a) Islamic development bank and Islamic corporation on private sector development use the relevant Islamic structures of financing and the arrangement which are not contradicting the current legislation of the Republic of Uzbekistan.

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