Classification: General
5
ON KEPLC LETTERHEAD
Kuwait Energy Company K.S.C.C.
6
th
Floor
Symphony Tower 2
Salem Al Mubarak Street
Block 2
Salmiya 22067
Kuwait
[ ] 2014
Dear Sirs
Share repurchase
We hereby agree to purchase from you 31,750,000 ordinary shares of £1 each (the
Repurchase Shares
) in
the capital of Kuwait Energy plc (the
Company
) at a price of KWD0.620 per share (the
Repurchase
). The
Repurchase price may be paid in Pounds Sterling or such other currency, and at such exchange rate, as you
and us may agree.
Following the delivery by you to the Company of your share certificate in respect of the Repurchase Shares
(the
Share Certificate
), we shall remit to you in accordance with your instructions the proceeds relating to
the Repurchase. No interest shall accrue on the proceeds due to you between the date of delivery of the
Share Certificate to us and remittance by us to you of the proceeds of the Repurchase.
If you have not delivered the Share Certificate to the Company prior to the conclusion of the Company’s
2014 annual general meeting this agreement shall terminate.
Please indicate your acceptance of the terms of this letter by countersigning the enclosed copy of this letter
and returning it to the Company.
Yours faithfully
For and on behalf of
Kuwait Energy plc
…………………………………………………………………………………………………………………
Acceptance
We agree to the terms proposed by you above.
………………………………………
For and on behalf of
Kuwait Energy Company K.S.C.C.
Dated ………………………… 2014
