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On Sun, Jun 15, 2025 at 10:56 AM <mbassal@puridive.com> wrote:
Dear Andy,

Hope everything is okay.

Kindly find attached our response on your questions about the MCI operating reliability.

For MEG as coolant, the first filling around 6 tone (first fill under E&P scope), and that make-up expected to be around 12 tons yearly.

We have a clarification about the 20% contingency you recommend to apply; is that on the construction cost only or on the whole FM.

Please review and let us know for any questions.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Thursday, June 12, 2025 4:27 PM
To: mbassal@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; mohamed.harbi@puridive.com; tarek.alaa@puridive.com; 'Mohamed Hossam' <mohamed.hossam@od-investment.com>; shady.elhalaby@gmail.com; 'Ahmed Galal' <ahmed.galal@organi-development.com>; Brandon Derbyshire <bderbyshire@etasca.com>; mozidan@puridive.com
Subject: RE: Puridive - TDD Q&A session and FM discussion points

Dear Mahmoud,

Many thanks for this, and we note the pending items in the response. We have a few further questions below on the MCI operations – if we can have some responses to these by email would be appreciated to incorporate into our report.

MCI operating reliability:

From the data sent last week, we notice that the figures span years (e.g., 2022-23) – can you advise for which months these cover?
The data for 2024-25 is obviously not for a full year – can you advise which months this covers, so we can get an idea of pro-rata production to compare with others?
We have assumed MCI nameplate annual capacity of 206 000 tons caustic and 61 000 tons chlorine (from the figures of 620 and 182 tpd in the reliability document). Based on this, the production rates reported are around 60% for caustic (120-130 000 tons per year) and 35 % for liquid chlorine (20-22 000 tons per year). Is this interpretation correct? If so, is there a reason why the production has been significantly below capacity, despite seemingly good operating availability?
Further to this, we note that the volumes required by Puridive (22 500 tons caustic, 10 500 tons chlorine) represent a reasonably significant portion of MCI production, particularly chlorine. We note that there is a supply agreement in place for the volumes, but does MCI have other offtake commitments which this could possibly clash with (i.e., have to prioritise between customers)?

In addition to this, we have a further list of points which we have previously raised with CIB on the financial model, which we include below. We have updated this to address the points discussed yesterday. We believe you should be aware of this if it requires amendments to the financial model:

Financial model comments:

Capacity and consumption factors

Modelled production capacities and chemical consumption factors are generally in line with our expectations based on the EPC guarantees.
Utilities are also in line with the EPC guarantees, with the following small points:
Cooling water for TCCA plant is modelled at 60 t/t – this should be 120 t/t as per the EPC guarantee
Natural gas consumption of 0.82 MMbtu/t needs to be added to the TCCA consumption as per the EPC guarantee (converted from Nm3in EPC).
We also discussed yesterday how the utilities for steam, process and cooling water have been modelled, but note your responses in the excel sheet provided today.
Also note our point on consumption of brine, which is referred to as MEG – we await your response here.

Start-up and operations

The model appears to assume that the EPC phase started January 2025 (based on cash flow sheet), which is not the case. This doesn’t really matter except it is unclear how any delay sensitivity cases could be modelled based on the current model structure – this needs to be considered as there is always risk of this on projects, and this is particularly the case here given the interface between the EP contractor and the Owner for the commissioning.
The operating ramp-up seems appropriately conservative.

Capex

The E&P cost of $17.3 million is in line with the contract.
Construction cost of $8.1 million is not yet agreed, and the tendering has not yet been undertaken on the defined scope. On this basis we believe there is a fairly considerable risk this could increase.
A 10% contingency has been applied - while this is around the normal level for a project of this nature, we believe there is some increased risk in the project due to the interface between the E&P / construction contractors and absence of an overall LSTK. This, in addition to the risk of the construction cost increasing, represents additional risk to the project capex. We recommend applying 20% contingency as Base Case.
Other costs in the capex seems to cover expectations and are of the expected magnitude based on the overall cost.

We will await feedback on our above comments, and we really appreciate your ongoing assistance in helping us complete our report.

Kind regards,

Andy

From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 12 June 2025 09:46
To: Andy Ballard <aballard@etasca.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; mohamed.harbi@puridive.com; tarek.alaa@puridive.com; 'Mohamed Hossam' <mohamed.hossam@od-investment.com>; shady.elhalaby@gmail.com; 'Ahmed Galal' <ahmed.galal@organi-development.com>; Brandon Derbyshire <bderbyshire@etasca.com>; mozidan@puridive.com
Subject: Re: Puridive - TDD Q&A session

Dear Andy,

Attached the updated response for the pending points.

Please don't hesitate to reach out if you have any questions.

Best Regards.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Wednesday, June 11, 2025 2:03 PM
To: Mahmoud Bassal <mbassal@puridive.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com <islam.farouk@puridive.com>; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com <ahmed.abdelmoniem@puridive.com>; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; mohamed.harbi@puridive.com <mohamed.harbi@puridive.com>; tarek.alaa@puridive.com <tarek.alaa@puridive.com>; 'Mohamed Hossam' <mohamed.hossam@od-investment.com>; shady.elhalaby@gmail.com <shady.elhalaby@gmail.com>; 'Ahmed Galal' <ahmed.galal@organi-development.com>; Brandon Derbyshire <bderbyshire@etasca.com>; mozidan@puridive.com <mozidan@puridive.com>
Subject: RE: Puridive - TDD Q&A session

Dear all,

Many thanks for the time on the call earlier today. As promised, we have some follow-up points noted on the attached updated questions sheet – if these could be addressed, that would be helpful.

As mentioned we may have some other follow-up questions but for now will focus on getting the draft technical report issued next week.

Kind regards,

Andy

From: Mahmoud Bassal <mbassal@puridive.com>
Sent: 11 June 2025 07:09
To: Andy Ballard <aballard@etasca.com>; mbassal@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; mohamed.harbi@puridive.com; tarek.alaa@puridive.com; 'Mohamed Hossam' <mohamed.hossam@od-investment.com>; shady.elhalaby@gmail.com; 'Ahmed Galal' <ahmed.galal@organi-development.com>; Brandon Derbyshire <bderbyshire@etasca.com>; mozidan@puridive.com
Subject: Re: Puridive - TDD Q&A session

Dear Andy,

Good morning

Attached is the response to your questions.

Best regards,

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

On 2025-06-10 14:57, mbassal@puridive.com wrote:

Dear Andy,

Thanks for your below email.

Confirmed for tomorrow meeting and our reply in progress. Regarding to the previous MoM, kindly find our comments in attached file, see also attached file for the Market Strategy for your reference.

For recently received invoice, under credential process. To be received within max two days.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Monday, June 9, 2025 5:51 PM
To: mbassal@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; mohamed.harbi@puridive.com; tarek.alaa@puridive.com; 'Mohamed Hossam' <mohamed.hossam@od-investment.com>; shady.elhalaby@gmail.com; Brandon Derbyshire <bderbyshire@etasca.com>
Subject: RE: Puridive - TDD Q&A session
Importance: High

Dear all,

I hope you have all enjoyed a nice Eid vacation.

As mentioned last week, we propose to have a further Q&A session on the technical due diligence this Wednesday – I have sent an invite for a proposed time of 0930 UK / 1130 Egypt. If this is not convenient for Puridive, we can reschedule for later in the day if you prefer.

We have the following list of points/topics that we wish to discuss – happy to receive some answers in advance if you think that will help.

MCI Operating Reliability:

The document provided previously (attached) provides good description of the MCI facilities but nothing on how well they have operated in recent years. Can you provide any indication of the operating reliability, such as operating rates, actual production levels or availability? This will help us demonstrate whether there are any risks related to upstream supply of chlorine and caustic.

Utilities:

Our understanding is that imported utilities at battery limit will be natural gas, electricity and process water:
Natural gas we understand to be purchased from GASCO. To discuss status of contract for supply, and responsibility for tie-in works up to battery limit.
Electricity we understand to be purchased from EETC - to discuss status of contract for supply and tie-in point.
Raw water we understand will be imported. To discuss supplier and specification.
We believe the steam, cooling and process water will be generated on site in utility systems to be built as part of project (c.f. scope graphic on page 15 of the technical proposal). Please confirm.
If the utilities are generated on site, how does the consumption of energy into these fit with the per ton consumption for utilities defined in the EPC contract guarantees (EPC Annex 4, 1.3b)?
Related to this, chilled brine is noted as a utility consumed in the production of TCCA (70 t/t) - how does this fit with the volume available for external sale (as per the revenues assumed in the financial model)?

Product and storage:

Please describe facilities anticipated on site for handling and storage of the solid final products (TCCA90, cyanuric acid, ammonium sulphate), specifically:
Granulation
Bagging
Warehouse capacity
Solid handling and loading
Also, please describe storage and handling capabilities for sodium hypochlorite and brine.

Manpower:

The financial model has an assumption of 130 persons in the O&M team. This is based upon:
25 persons per shift (20 operators + 5 supervisors) and 4 shift pattern = 100 persons
Additional technical organisation of 15 experienced persons
18 further technical support
Please confirm this is aligned with Puridive plan and how it fits with the org chart in the dataroom (item 5.2).
Can the plan for recruitment of personnel for operations and maintenance be described?
Kapsom will provide training services under the E&P contract - is there an indication of timing at which the personnel will need to be in place for training to commence?

Maintenance costs:

Our understanding is that the manpower numbers don't include any personnel for maintenance, with all the work to be outsourced - please confirm.
Has Kapsom provided any indication of their expectations for annual maintenance costs?

Construction contractor:

Can you indicate the contractors being considered for the role?
Can you describe the expected steps and timing for award of construction contract following commencement of the E&P contract?

Ground works:

We have seen the site photos detailing current condition. Is there any site preparation works required prior to handover to E&P contractor? Or will that be under responsibility or E&P / construction contractors?

Project management contractor:

We note that a third-party PMC is in the process of being appointed - can you indicate the identity of candidates in tendering process?

We look forward to discussing the above with you on Wednesday.

Kind regards,

Andy

Andy Ballard

Director

+44 7921 170 641

aballard@etasca.com

4 Bloomsbury Square

London, WC1A 2RP | www.etasca.com

From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 03 June 2025 12:34
To: Andy Ballard <aballard@etasca.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; mohamed.harbi@puridive.com; tarek.alaa@puridive.com; 'Mohamed Hossam' <mohamed.hossam@od-investment.com>; shady.elhalaby@gmail.com
Subject: RE: Puridive - EPC Questions and CDD KO Meeting

Dear Andy,

Thanks for our meeting today; please remember to send us the MoM.

For operational reliability of the MCI, see attached for your reference.

Please consider to send the next meeting agenda and your comments 24hrs before the meeting.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Monday, June 2, 2025 3:50 PM
To: mbassal@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive - EPC Questions and CDD KO Meeting

Dear Mahmoud,

Please see below the questions for the EPC contract discussion:

Technology

The contract refers to a process licence and licensor in several areas. Our understanding is that Kapsom will be the licensor and that this will be provided under the EPC contract (i.e., no separate technology licence to be agreed outside the EPC) - please confirm.

Scope of work

The scope of work in the EPC contract is less detailed than in the Technical Proposal, which includes a process description and equipment and instrumentation lists. Is the technical proposal incorporated into the scope of work somehow? We do not see this in the EPC contract.
In relation to the construction elements of the works, our understanding of the definition under the contract is as follows:
The construction contractor shall be appointed subsequent to commencement of the EPC, with the scope of work and tendering documents to be developed by Kapsom.
The construction contractor will contract directly with Puridive, and execute the scope of work elements defined as under Puridive responsibility as per the SOW split in Annex 7.
The fees for the construction contractor are not included in the $17.3 million defined under item 5 of the contract.
We see that the commissioning activities are listed as under the responsibility of Puridive/construction contractor. How will this be managed alongside the EPC contractor, who we would usually expect lead this activity (as they have the specific process knowledge)?

Interfaces

We note the interface points for chlorine, HCl, and caustic are depicted in Annex 2, but with no co-ordinates. Have these been discussed/agreed anywhere with KAPSOM?
Who is responsible for works on these interfaces outside of battery limits? Unclear whether these fall under EPC responsibility.

Schedule

The schedule in the EPC is only Level 1, which is much lower definition than would be expected for an EPC contract - has a more detailed schedule been agreed?
This is particularly relevant to the elements of scope defined as being under responsibility of Puridive - as the current schedule does not include any definition on any milestones, there appears potential for contractor to claim for extension of time in relation to elements such as completion of civil works, or interface works up to battery limit.

Construction contractor

We see a fee of $8 million in the FM for the construction works - how has this been estimated? Does it also include the items defined as under Puridive SOW (customs clearance and inland material transportation and storage, and commissioning)?
How will the contract for the construction contractor be arranged - directly with Puridive or with Kapsom?
Is there a template available for this? Will it be on an LSTK basis with guarantees on schedule etc.?

Will send a list for the commercial DD KO discussion shortly also.

Kind regards,

Andy

From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 02 June 2025 09:27
To: Andy Ballard <aballard@etasca.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive - EPC Questions and CDD KO Meeting

Dear Andy,

Good morning.

Thanks for your invitation. For CDD KoM, please send us the excel sheet data required by today if any to be discussed in tomorrow meeting.

Referring to the EPC topics, we are awaiting your feedback today.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

-----Original Appointment-----
From: Andy Ballard <aballard@etasca.com>
Sent: Monday, June 2, 2025 10:59 AM
To: mbassal@puridive.com
Cc: Jun Goh; Andrew Inglis; mozidan@puridive.com; 'Salma El Farnawani'; islam.farouk@puridive.com; 'Nadine Husseiny'; 'Rasha Zaki'; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly'; 'PuridiveCEO'; 'Acc. Mohamed Reify'; 'Abdelrahman Ibrahim'; mohamed.harbi@puridive.com
Subject: Puridive - EPC Questions and CDD KO Meeting
When: Tuesday, June 3, 2025 9:30 AM-10:30 AM (UTC+00:00) Dublin, Edinburgh, Lisbon, London.
Where: Microsoft Teams Meeting

To discuss questions on the EPC contract and to KO the CDD workstream.

EPC discuss topics to follow later today

________________________________________________________________________________

Microsoft Teams Need help?

Join the meeting now

Meeting ID: 367 487 990 704 6

Passcode: 9gv9ow3m

For organizers: Meeting options

________________________________________________________________________________

_____________________________________________
From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 01 June 2025 09:04
To: Andy Ballard <aballard@etasca.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive TDD - KO Meeting Summary

Dear Andy,

Good morning.

For our next call schedule, confirmed to be on Tuesday 3rd June (0930 UK / 1130 Egypt); we are awaiting your comments and questions on the EPC, to be sent tomorrow (Monday) as mentioned below.

Regarding to the operational reliability of the MCI; currently we are preparing the below required data to be sent before our meeting or to be discussed through it.

For the CDD invoice recently received, in progress.

Best regards,

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Thursday, May 29, 2025 1:33 PM
To: mbassal@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive TDD - KO Meeting Summary

Dear Mahmoud,

Many thanks for the feedback below and for informing you on your availability next week.

We propose to have the next call on Tuesday 3rd June next week – do either of the proposed slots below work for Puridive:

0930 UK / 1130 Egypt
1330 UK / 1530 Egypt

If not, please feel free to suggest another time.

We are currently looking at the EPC and will have some comments and questions for you which we will send in advance (Monday latest). In addition, we can discuss some topics relevant to the commercial due diligence scope of work which can now commence following execution of the additional contract.

Regarding the topics below, we have a further question:

Can you advise as to the operational reliability of the MCI chlor-alkali unit in the past 2-3 years. Specifically this could include:
Onstream time and details of any major shutdowns
Overall output of caustic/chlorine in that period

We ask for this so that we can provide comfort to Lenders that the necessary feedstocks for the project will be available as required.

Kind regards,

Andy

From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 26 May 2025 12:02
To: Andy Ballard <aballard@etasca.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mozidan@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive TDD - KO Meeting Summary

Dear Andy,

Thanks for your below email.

We happy to receive your questions about the EPC at the end of that week and the follow up call schedule; kindly note that we are available from 2/6 to 4/6 and will be on a holiday from 5/6 to 10/6.

For below preliminary questions, kindly find our reply as following;

Project site

There is no preparation work in the site except a discharge line of MCI & PLS companies are ongoing to be relocated beside our fence.
For site photos – see attached for your reference.
Interfaces

See attached file for your clarifications.
For the invoice will be transferred by tomorrow.

Please review and looking forward to meet you soon.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Friday, May 23, 2025 11:28 PM
To: mbassal@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive TDD - KO Meeting Summary

Dear Mahmoud,

Many thanks for this and your feedback.

Our initial focus will be the review of the EPC contract, which of course is the key document underpinning the project. We expect to have some feedback for you on this in the course of the coming week (the start of next week is a holiday in the UK, so likely to be towards the end). Our suggestion is that we then arrange a follow-up call for the start of the week after on 02 June. We can be flexible on time so please advise if you have a preference. The key will be to discuss the EPC, and we will send the questions in advance of this (by end next week).

In the meantime, based on the review of other documents we have some other preliminary questions which I have listed below. If you have time for some brief responses in the coming days these would be welcome, otherwise we can discuss during the call proposed.

Project site

Regarding the site, it appears that some initial preparation work has been undertaken. Can you please describe the status of preparation work at the site.
As a further point, if you have any additional photos of the site to get a fuller picture that would be useful – including the proposed connection points to MCI.
Interfaces

The key interface will be with MCI for supply of feedstock. In relation to this can you please give a brief description of their facilities which shall be used to supply Puridive, including:
Process units and capacity
Any historic reliability data for units supplying feedstock
Details of MCI storage capacity (for feedstocks supplied to Puridive) as we understand there won't be any within Puridive ISBL according to the technical proposal

We will likely add further questions to this list next week on other topics as well as EPC.

Kind regards,

Andy

From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 22 May 2025 12:59
To: Andy Ballard <aballard@etasca.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; mbassal@puridive.com; 'Salma El Farnawani' <Salma.ElFarnawani@cibeg.com>; islam.farouk@puridive.com; 'Nadine Husseiny' <nadine.husseiny@cibeg.com>; 'Rasha Zaki' <rasha.zaki@cibeg.com>; ahmed.abdelmoniem@puridive.com; 'Karim El-Rimaly' <karim.elrimaly@cibeg.com>; 'PuridiveCEO' <ceo@puridive.com>; 'Acc. Mohamed Reify' <moh.reify@puridive.com>; 'Abdelrahman Ibrahim' <Abdelrahman.Ibrahim@energycadence.com>; mohamed.harbi@puridive.com
Subject: RE: Puridive TDD - KO Meeting Summary

Dear Andy,

Kindly find attached Puridive response on your feedback; please review and let us know if you have any questions.

For KoM MoM; kindly find attached our feedback with photos for the site.

For invoice we will feedback you ASAP.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

From: Andy Ballard <aballard@etasca.com>
Sent: Wednesday, May 21, 2025 5:28 PM
To: mbassal@puridive.com; mozidan@puridive.com; ahmed.abdelmoniem@puridive.com; islam.farouk@puridive.com; mohamed.harbi@puridive.com
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>; Salma El Farnawani <Salma.ElFarnawani@cibeg.com>; Nadine Husseiny <nadine.husseiny@cibeg.com>; Rasha Zaki <rasha.zaki@cibeg.com>; Karim El-Rimaly <karim.elrimaly@cibeg.com>
Subject: RE: Puridive TDD - KO Meeting Summary

Dear Puridive Team,

Further to my earlier minutes of the KO meeting, please find attached our feedback on the data request. We will also follow this up with some detailed questions on individual topics for discussion in later meetings once we have had time for further review.

Kind regards,

Andy

From: Andy Ballard
Sent: 21 May 2025 13:43
To: 'mbassal@puridive.com' <mbassal@puridive.com>; mozidan@puridive.com; ahmed.abdelmoniem@puridive.com; islam.farouk@puridive.com; mohamed.harbi@puridive.com; Salma El Farnawani <Salma.ElFarnawani@cibeg.com>; Nadine Husseiny <nadine.husseiny@cibeg.com>; Rasha Zaki <rasha.zaki@cibeg.com>; Karim El-Rimaly <karim.elrimaly@cibeg.com>
Cc: Jun Goh <jgoh@etasca.com>; Andrew Inglis <ainglis@etasca.com>
Subject: Puridive TDD - KO Meeting Summary

Dear all,

It was a pleasure to meet with you earlier today and to discuss the project status. As promised, please find attached our summary of the meeting and some points on next steps. Please advise if you have any feedback on this.

We are separately commenting against the data request and will follow up with that shortly. Separately, we will await the latest version of the project financial model.

We look forward to working along side you on this interesting project.

Kind regards,

Andy

From: mbassal@puridive.com <mbassal@puridive.com>
Sent: 20 May 2025 12:10
To: Andy Ballard <aballard@etasca.com>
Cc: mozidan@puridive.com; ahmed.abdelmoniem@puridive.com; islam.farouk@puridive.com; mohamed.harbi@puridive.com
Subject: Puridive (TCCA Project) - etasca required data

Dear Andy,

Hope you are doing well.

I am Mahmoud Bassal, Project Mgr of Puridive (TCCA Project). We are happy to collaborate with etasca to finalize the project due diligence report.

Following our KoM tomorrow, please confirm if you have received the required data by etasca if not, kindly find the attached excel sheet with puridive response and the following link for attachment etesca response attchement.

Please review and let me know if you have any problem with the link, looking forward to meet you tomorrow.

Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com

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Mahmoud Bassal
Project Manager
01223928480
mbassal@puridive.com