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Company Response

10 Jan 2022

Sunningwell International Limited

Sunningwell International's response

Dear Sir/Madame

Your enquiry reg. Ugljevik 3 project:

In response to Your mail, we would like to inform You that it is Sunningwell International Limited, which has signed the EPC contract with CNEEC, not Sunningwell International Polska Ltd. Both companies are only connected by the similar name and the main shareholder, though they carry different business.

Despite allegations in various media that Sunningwell is the Polish – Chinese company, I would like to stress that Sunningwell International Ltd and Sunningwell Polska have only polish shareholders.

The EPC contract for Ugljevik was signed between CNEEC and Sunningwell Int’ l Ltd, and initially it was considered that the project could be financed by Chinese financial institutions. However, after the decision of the Chinese top leaders to stop financing coal fired power plants abroad, CNEEC informed Sunningwell about this decision. Since then we are exploring other alternative sources of the financing the project.

WE would like to assure You that Ugljevik 3 project has been prepared and designed taking into consideration all the newest directives of EU on the emission and all the technical and technological solutions, especially in emission and effectiveness, have been selected and adopted to meet the EU standards.

All these solutions have been implemented in the new study for environment permit which COMSAR has applied recently and got the high opinion of the institutions concerned.

I hope that this explanation would suffice. If You have any further inquiries, we would be always ready to answer

Best regards

Sunningwell International Limited.