Dr. Samir Sarhan previously served as President of ACWA in Saudi Arabia and the Middle East, and Chief Operating Officer of Air Products USA.

Marco Arcelli, the company's CEO since March 2023, will serve as an advisor to the chairman to ensure a smooth transition.

Riyadh, Saudi Arabia – ACWA Power, the world’s largest privately owned desalination company, a leader in energy transition, and the first in green hydrogen, announced the appointment of Dr. Samir Sarhan as Chief Executive Officer, effective March 1, 2026. The Board of Directors of the company, listed on the Saudi Stock Exchange, made this decision in line with the natural progression within ACWA Power’s executive leadership cycle and its disciplined governance framework. This appointment is part of a structured and well-considered transition of management under the supervision of the Board’s Nominations and Remuneration Committee. The Board and the outgoing CEO, Marco Arcelli, agreed to implement the planned transition to ensure the continuity and stability of the company’s operations without altering ACWA Power’s long-term direction.

Dr. Samir Sarhan has worked closely with the leadership team at ACWA since his appointment last year as President of the company in Saudi Arabia and the Middle East, making him well-prepared for his new role. He previously served as Chief Operating Officer at Air Products, where he oversaw the company's operations and project execution, holding operational and financial performance accountable across the Americas, Asia, Europe, Africa, the Middle East, and India. He also led functions encompassing global technology, engineering, manufacturing, and equipment at Air Products. Prior to this, he served as Head of Hydrogen at Praxair.

In an earlier phase of his career, spanning 14 years, Dr. Samir Sarhan held senior leadership positions within the Linde Group in the United States and Germany, most recently as General Manager of Linde Engineering. He possesses over three decades of experience with a proven track record of leading operational transformation, enhancing institutional capabilities, and achieving disciplined growth in an environment involving large and complex capital investments.

Mohammed Abunayyan, founder and chairman of ACWA Power, stated:

Today, ACWA holds a leading position in Saudi Arabia and globally in the fields of renewable energy, water desalination, and green hydrogen, and we are committed to strengthening this position. We are also grateful for Marco's leadership, which contributed to developing ACWA's strategy and accelerating its growth. This carefully planned transition reflects the quality of governance and the pioneering nature of the company's business model. Our strategic direction remains clear and unwavering, and we are pleased to welcome Dr. Samir Sarhan to his new role as CEO.

For his part, Dr. Samir Sarhan, the new CEO, said

Every day presents new opportunities to help our customers and address the urgent energy and water needs around the world. I am honored to lead ACWA at this pivotal moment, as the company accelerates its profitable global growth in renewable energy, water desalination, and green hydrogen solutions, including the development of green hydrogen for heavy industry decarbonization, achieving a sustainable and scalable impact worldwide. I look forward to working with ACWA’s outstanding teams around the world to build on our progress and shape the next phase of our journey.

Acwa's CEO during the past period, Marco Arcelli, explained by saying

ACWA Power’s portfolio has doubled in size over the past three years, and the company is on track to double it again by 2030, further expanding our business and impact. ACWA Power currently produces approximately 25% of the world’s desalinated seawater, and we have entered new markets, including Azerbaijan, China, Kuwait, and Senegal, while simultaneously enhancing our energy export opportunities from Saudi Arabia and solidifying our leadership in low-carbon molecular hydrides. Our achievements reflect our boundless ambition, meticulous execution, the dedication of our employees, and the trust of our partners.

It is worth noting that ACWA supports energy and water security and supply reliability, which are priorities for economic resilience and the well-being of communities worldwide. Today, the company provides clean drinking water to approximately 34 million people and electricity to approximately 76 million people daily.

About Aqua Company

ACWA Power (trading symbol: 2082) is a Saudi-listed company and the world’s largest privately owned desalination plant. It is the first company to produce green hydrogen and a leader in the global energy transition. Established in Riyadh, Saudi Arabia in 2004, the company employs over 4,000 people and currently operates in 15 countries across the Middle East, Africa, Central Asia, and Southeast Asia. Its portfolio comprises 111 projects in operation, development, or construction, with an investment value of SAR 430 billion (USD 114.8 billion). These projects have a generating capacity of 93 GW (52 GW of which is from renewable energy sources) and produce and manage 9.3 million cubic meters of desalinated water per day. This water is delivered in large quantities to meet the long-term needs of government facilities and industries. ACWA Power also provides water and electricity to third parties through power purchase agreements and public-private partnerships.

Please visit the company's website via the link.

www.acwapower.com

For media communication

Hala Mohsen

Director of Media Affairs and External Communications

hmohsen@acwapower.com

media.inquiries@acwapower.com

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