January 20 2021

Sawafi Borets Hosts Ground-Breaking Ceremony for its new headquarters at King Salman Energy Park (SPARK)

Sawafi Borets Sets Foundation for Future ESP Excellence at SPARK

Al-Khobar, Saudi Arabia – 20/01/2021: Sawafi Borets broke ground today on a 21,000 square meter headquarters and production facility that will serve as its hub for the manufacture, testing and service of submersible pump systems. Located in the King Salman Energy Park (SPARK) in the Eastern Province of Saudi Arabia, the facility is scheduled to begin operations in 2022.

At the heart of the operation will be a state-of-the-art assembly line with an annual production capacity of 500 electrical submersible pumps (ESP). The facility will be staffed by up to 100 employees who will conduct assembly and provide advanced testing and associated services.

President & CEO of Alturki Holding, Mr. Rami Alturki, opened the ceremony by saying, “We are extremely excited to announce that construction has begun on the Sawafi Borets manufacturing, distribution, testing and services center at SPARK. This milestone Sawafi Borets facility will provide Alturki with the opportunity to create more value locally, offering new opportunities for young Saudis and allowing us to further contribute to the reliable and efficient production of the Kingdom’s natural resources”.

Welcoming the investors and attendees, Mr. Saif Al Qahtani, President & CEO of King Salman Energy Park (SPARK) added, “We welcome Sawafi Borets as it launches this exciting new facility. We are proud that the world’s leading producer of ESPs has embarked on a JV with a global leader in upstream technologies right here at SPARK. The facilities to be developed are enabled by world-class infrastructure, logistics and support services, and the park’s ecosystem makes it especially easy for investors and tenants to get their businesses underway efficiently.”

Mr. Talal Albinali, General Manager at Sawafi Borets, said in his address, “We are thrilled to be at SPARK, the leading global energy hub. Sawafi Borets continues to grow in the region by bringing together top-quality technology and a high level of service. Our new facility's state of

the art assembly line at SPARK will help us to localize capacity and reduce delivery lead time from approximately four months to less than two weeks.”

About King Salman Energy Park (SPARK)

King Salman Energy Park (SPARK) is a fully-integrated industrial city under development. SPARK spans an area of 50 square kilometres, and is being developed with a vision to become the leading gateway to the regional energy sector, providing a complete spectrum of solutions to support business growth in the Kingdom. SPARK is also the first and only industrial city in the world to achieve silver LEED certification.

SPARK offers infrastructure at international specifications for global investors in the crude oil & gas industry and refining, petrochemical industries, electric power, and water production and treatment. SPARK will be comprised of five focal areas: Upstream, Downstream, Petrochemicals, Conventional Power, and Water & Wastewater.

Execution is planned over three phases. SPARK has completed 70% of its first phase, which consists of infrastructure, roads, utilities and real estate assets established across 14 square kilometers; phase one is set to be completed in 2021. This is in addition to a dedicated three- square kilometer logistics zone and dry port.