Ann: Operations Update, page-2

Operations Update Mozambique
• US$2.0m WBHO Contract at Temane completed by Projectos Dinamicos (PD). Final handover in progress.
• Work by PD on TSK/CTT accommodation camp contract at Temane (contract value circa $US5.0m) progressing on schedule.
• Futuro Group (FG) entities experiencing a significant lift in business activity, with engineering recruitment and construction contract enquiries increasing as Total and EPC contractor, Saipem, prepare for imminent restart to the Rovuma LNG onshore facility in Afungi.

I also like this line - helps having eyes on the ground!!

Northern Mozambique LNG - Update
The February 2023 visit by Total Energies CEO Patrick Pouyanne to the Afungi peninsula sparked a new dynamic for the stalled development of the Rovuma LNG mega project. Futuro Group management have reported a significant lift in enquiries, in particularly in labour hiring across multiple skill levels.

Whilst Total is yet to make an official announcement on the lifting of Force Majeure on the project Saipem executive, Alessandro Puliti has publicly stated that July 2023 is the target for formal resumption of works.

Recent developments both in Cabo del Gado and additional port cities include:
• Increased interest and on ground activities by O&G majors to develop shore-based facilities in Pemba and or Nacala. Futuro Group have access to prime locations in both Port cities.
• Port development in Northern Mozambique continues with cargo terminal development in Pemba and Nacala. Nacala port has virtually doubled it container capacity with clear opportunities and vision for servicing the LNG developments.
• Commercial shipments of gas from Block 4 Coral Sul FLNG (3.4 mill tpa) operated by ENI continue as scheduled.
• Commercial rentals and property values lift in the capital Maputo as international contractors return.