Dividend Policy

Management proposes to follow a reasonable dividend payout policy, subject to debt repayments, working capital and operational expenditure requirements. The amount of annual dividends and the determination of whether to pay dividends in any year may be affected by a number of other factors, including Sembcorp Salalah’s business prospects, financial performance, free cash availability, covenants under the Finance Documents and the outlook for the power and water sector. Dividend yields, based on the Offer Price, are forecast to remain at levels above the average yield for companies listed on the Muscat Securities Market. Sembcorp Salalah’s dividend policy will be reviewed on a bi-annual basis by the Board.