The company has completed the financial closure of 15 projects with a total investment cost of 70 billion riyals.

New electricity production capacity of 13.2 gigawatts and 1.7 million cubic meters of water per day came into operation during the year.

Riyadh, Saudi Arabia – ACWA Power (formerly ACWA Power), the world’s largest privately owned desalination company, a leader in energy transformation, and the first developer of large-scale green hydrogen projects, listed on the Saudi Stock Exchange, today announced its consolidated financial results for the 12 months ended December 31, 2025

ACWA Power's net profit attributable to shareholders of the parent company reached SAR 1.9 billion in 2025, while adjusted net profit increased by 60% to SAR 2.2 billion, providing a clearer picture of the company's underlying earnings. Operating income rose by 20% year-on-year to SAR 3.6 billion before impairment losses and other expenses. The main drivers of this result were increased income from business development and higher contributions from operating assets.

Dr. Samir Sarhan, CEO of Aqua, stated:

We completed financing for 15 projects with a total investment cost of SAR 70 billion in 2025, a record for financial closes. We also added nine power purchase agreements and three water purchase agreements, along with acquisitions in Bahrain, Kuwait, and China, bringing 25 GW of power and 2.1 million cubic meters per day of water to our portfolio. Additionally, projects with a capacity of 13.2 GW and 1.7 million cubic meters per day of desalinated water came online. At year-end, our portfolio comprised 108 projects, including 93 GW of generated power and 9.2 million cubic meters per day of desalinated water, spread across 15 countries, with assets under management valued at SAR 437 billion (USD 117 billion).

Dr. Samir Sarhan added

I would like to thank Marco Arcelli for his efforts in driving growth over the past three years. As I take over, we will build on this foundation by strengthening our focus on rigorous market selectivity, operational transformation, and flawless project execution, ensuring that every riyal of growth is directly reflected in our bottom line. This includes successfully executing projects with a safety-first approach, early alignment in the upstream phases, proactive risk management, transparent project controls, strict change management discipline, and a focus on operational readiness.

For his part, Abdul Hamid Al-Muhaidib, Chief Financial Officer of ACO, said

We achieved our goal of building a strong financial position by successfully raising SAR 7.1 billion in company capital and completing value-enhancing acquisitions of existing operating assets. Our annual financial performance reflects the momentum we have generated in operating profits across our investment portfolio, which increased by 20% as a result of the significant growth in the size and diversification of our asset base. The company achieved a net profit of SAR 1.9 billion, equivalent to SAR 2.47 per share, which confirms the strength and diversity of revenue streams generated across the various stages of the project lifecycle. We will continue to grow and establish ourselves in key markets, while enhancing cost discipline, development, and efficiency.

ACWA completed a capital increase through a rights issue of SAR 7.1 billion (USD 1.9 billion) last year, and the capital is being deployed according to its approved purpose, primarily directed towards the company's growth projects.

ACWA Power's acquisitions in Bahrain, Kuwait, and China encompassed nine projects, adding a total generating capacity of 4.9 GW of electricity and 1.1 million cubic meters per day of desalinated water. This represents a 0.3 GW increase in electricity generation capacity in China and a combined 4.6 GW in Kuwait and Bahrain, while the 1.1 million cubic meters per day desalinated water capacity originated from assets in Kuwait and Bahrain.

By the end of 2025, after adding all new commercial operational capacity to the company's portfolio, total power capacity reached 93 GW, of which 56% (52.3 GW) was renewable. Total desalination capacity reached 9.2 million cubic meters per day, while battery energy storage capacity reached 5.6 GWh. Consequently, ACWA Power's operational portfolio reached 43 GW of power, 6.3 million cubic meters per day of desalinated water, and 3,000 tons per year of green hydrogen.

Given the company's health, safety, and environmental record throughout the year, it maintained a stable work environment, with the lost-time injury rate remaining unchanged at 0.01 compared to 2024. Energy availability was strong at year-end at 91.2%, and water availability increased to 98.7%.

In 2026, ACWA’s ambitions remain high and the focus will continue on safety, operational excellence, disciplined growth, cost optimization, and creating sustainable value for shareholders, partners and the communities it serves, while achieving a positive impact through innovation, integrity and humanity.

The company will hold a virtual conference call to discuss its financial results and latest business developments on Wednesday, March 4, 2026, at 4:00 PM Saudi time. For more information on the financial results, management analysis, and discussion, please refer to the Annual Report for Investors for the period ending December 31, 2025, available on our website.

About Aqua

ACWA Power (Tadawul: 2082) is a Saudi Arabian company listed on the Saudi Stock Exchange (Tadawul). It is the world’s largest privately owned desalination company and a pioneer in green hydrogen, as well as a key player in the global energy transition. Founded and registered in 2004 in Riyadh, Saudi Arabia, the company employs over 4,000 people and currently operates in 15 countries across the Middle East, Africa, Central Asia, and Southeast Asia. For the purposes of its financial results for fiscal year 2025, ACWA Power’s portfolio at the end of 2025 comprised 108 projects, either operational, in advanced stages of development, or under construction, with a total investment value of SAR 437 billion (USD 116 billion). The company has a generating capacity of 93 GW (of which 52.3 GW is from renewable energy sources) and manages a desalination capacity of 9.2 million cubic meters per day. The energy and water produced from ACWA Power's assets are supplied on a bulk basis to meet the needs of government entities, public utilities, and industrial sectors, under long-term purchase agreements within utility contract and public-private partnership models.

For more information

www.acwapower.com

For media communication with Aqua Company

Hala Mohsen

Director of Media and External Communication Affairs

hmohsen@acwapower.com

media.inquiries@acwapower.com

To contact investor relations

Jihad Al-Muhanna

Investor Relations Manager

jalmohanna@acwapower.com

-I finish-

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