Notice of Default

Letter Ref: - KRO2-NP-JV-L-0004

Reply to: - KRO2-AF-NP-L-0003 & KRO2-AF-NP-L0008
Date: - 22-2-2022

Dear Nadeem,

Trust this Letter finds you well, please note that with regards to your letter KRO2-AF-NP-L0008 & KRO2-
AF-NP-L0003

It is unfortunate and unjust to send us an NOD (Notice of Default) in accordance with clause 2.3
Contractor’s instructions, 4.2 Subcontractors representative, 7 Time of completion and its subclauses
from 7.1 to 7.5 under especially 7.4 delay in completion the subcontract agreement with LOA # SA051C-
Z20AZ-1431-00 dated 28th May, 2022 without taking into consideration all the delays related to works
done onsite by other subcontractors, overhead crane malfunction, etc…

Not to mention the most important aspect that is payment issues and due amounts that are paid well
after the due date (if paid at all) and in portions that are inappropriate to the requirements.

We at Napoli do agree that there are “communication issues” within the past few days and we request a
Meeting that end up with defined requirements for both Parties (Acciona RTCC JV and Napoli) that
includes minutes of meeting signed by both parties, of which both parties will adhere to , moreover we at
Napoli reserve all our rights to reply, but action will be taken to remedy the supposed breach prior to the
expiry of the notice period in the contract, we will also take all the necessary steps in order to fulfil all the
requirements of the JV within the next days.

In light of the above, it is kindly requested that you have a second thought about the Notice of default
taking into account that we at Napoli will take actions to remedy the issues after the aforementioned
meeting. We further reserve our right to issue any additional response or further amend the contents of
this response or any other subsequent notice, email, correspondence, etc. issued by us to you, at an
appropriate juncture.

Best of Regards,

Majed Al Ghamidi