CSR Newsletter #10-Q2

1. The Visit of the Prime Minister to Red Sea Wind Energy Site In April 2025, Red Sea Wind Energy (RSWE) Project had the honor of welcoming H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt. H.E. was accompanied, amongst others, by Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy.

The visit coincided with achieving commercial operation of 500 MW, 6 months ahead of schedule, but more importantly, with 6.5 million worked hours without a lost time incident (LTI). Another milestone reached thanks to excellent teamwork. The teams are currently focused on completing the remaining 150 MW to reach full commercial operation of 650 MW in the coming months.

2. RSWE Leadership Transition At the end of April 2025, Red Sea Wind Energy (RSWE) underwent a leadership transition, with Mr. Anthony Watson concluding his tenure and Mr. Hans Bruins assuming the role of Chief Executive Officer.

Mr. Anthony Watson served as Red Sea Wind Energy (RSWE) and Ras Ghareb Wind Energy (RGWE) Chief Executive Officer for four years, during which time the companies advanced through several key phases. His tenure included the continued operation of RGWE and the inception and construction of RSWE. During this period, the organization progressed in terms of structural development, strengthened internal capabilities, and operational performance.

Effective May 2025, Mr. Hans Bruins has assumed the position of Chief Executive Officer for both RSWE and RGWE. Mr. Hans brings extensive experience in the renewable energy sector and has been closely involved in the implementation of both RSWE and RGWE Projects as Construction Director. His familiarity with both companies' operations, teams, and stakeholders positions him to lead the next phase of development, including the planned 900 MW Gulf of Suez III (GOS III) wind energy Project

3. Gold Standard Validation In May 2025, as part of the validation process required for registering the Red Sea Wind Energy Project with the Gold Standard, a field visit was conducted by the Validation and Verification Body to RSWE Project site and Ras Ghareb City.

The Validation Body visited RSWE's CSR projects in Ras Ghareb City, checked RSWE community grievance boxes, and conducted interviews with the Project's local stakeholders. The interviews took place at Ras Ghareb City Council in the presence of the Head of Ras Ghareb City Council, Major General Mamdouh Nadeem, and key local stakeholders.

The Validation Body conducted a visit to the following RSWE CSR projects:

·        Ebad El Rahman Nursery

·        El Mina School

·        The Outpatient Clinics

The Validation Body acknowledged the positive impact of RSWE’s CSR efforts in developing the city and on the local community.

4. Delivery of Accommodation Furniture for the Medical Staff

In May 2025, as part of RSWE’s ongoing efforts to improve healthcare infrastructure in Ras Ghareb City, the company provided essential furniture to the newly renovated housing for medical staff.

This addressed a long-standing issue of inadequate accommodation for doctors residing in Ras Ghareb City, which had previously hindered the recruitment and retention of qualified medical staff.

The delivery was carried out on May 27, 2025, and fully documented through an official handover report, including photographic evidence of the facility before and after installation. This contribution reflects RSWE’s ongoing commitment to improving the quality of life and supporting essential public services for the local community.

Items delivered:

·        30 Beds

·        30 Wardrobes

·        30 Bedside Tables

·        5 Dining Tables

·        30 Dining Chairs

5. Eid Al Adha Meat Distribution Campaign

In June 2025, in celebration of Eid Al-Adha, RSWE and RGWE collaborated on a joint campaign and successfully distributed 520 kg of meat to families in Ras Ghareb City, including Bedouin communities residing near RSWE and RGWE Project sites. A group of young and energetic volunteers from Ras Ghareb City supported the event through active participation.

The distribution process took approximately 6.5 hours. Meat packaging and handling were carried out in full compliance with recognized health and safety regulations, following best practices to ensure safe distribution. Reusable, eco-friendly bags were used, aligning with both companies’ environmental and social standards.

The event was conducted in a celebratory and socially focused manner, reflecting our strong commitment to community engagement