Disclosure of Material Information for Mushrif Trading and Contracting Co. regarding Contracts No RA/222 and RA/238

April 19, 2017

Reference:

[01] MPW Contract No. RA/222 – Construction, Completion and Maintenance of Bridge & Other Services at Gulf Street on Al Bidda Roundabout
[02] MPW Contract No. RA/238 – Construction, Completion and Maintenance of Roads, Bridges etc. for the Road Connecting Mina Abdulla City and Wafra

Please be informed that the company received two letters from the Ministry of Public Works (MPW) indicating the withdrawal of works, stating that there is a delay in the execution of works. Note that the Company is currently reviewing these two letters and the schedule of the two contracts and the circumstances that may justify the delay if any.

The Company believes that there are detailed reasons and factors outside its control that justify the delay. Accordingly, the Company will present these factors and reasons to the Ministry of Public Works. The Ministry may therefore revoke its decision to withdraw these contracts, in particular that Article 36.1 of the Contract Conditions was taken into account that the existence of an acceptable excuse justifies the decision to withdraw the work.

The company is currently coordinating a meeting with the Ministry of Public Works to discuss this issue in the coming days.

Please note that the Company will notify you of any updates on this matter at the time.