ARABIAN CONSTRUCTION COMPANY

RUWAIS: INTEGRATED GAS DEVELOPMENT 4TH NGL TRAIN PROJECT

EARNED PRO G RESS & PAYM ENT SCHEDULE

CIVIL WORKS
PROJECTED CASH FLOW

50,000,000 400,000,000

45,000,000
350,000,000

40,000,000 CUM. NET MONTHLY EARNED CASHFLOW

300,000,000
MONTHLY INTERIM PAYMENT INVOCIE
35,000,000
NET MONTHLY EARNED CASHFLOW

250,000,000
CUM. INTERIM PAYMENT INVOICES
30,000,000
CUM. INTERIM PAYMENT INVOICES
CUM. NET MONTHLY EARNED CASHFLOW

25,000,000 200,000,000

20,000,000
150,000,000

15,000,000

100,000,000

10,000,000

50,000,000

5,000,000

0 0
40268 40298 40329 40359 40390 40421 40451 40482 40512 40543 40574 40602 40633 40663 40694 40724 40755 40786 40816 40847 40877 40908 40939 40968 40999 41029 41060 41090 41121 41152 41213 41243 41333 41364
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 32 33… 36 37…

MONTH

PROJECTED CASH FLOW (AED)

MOBI.. PERIOD CONSTRUCTION PERIOD LIABILITY PERIOD
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 32 33… 36 37…

Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Oct-12 Nov-12 Feb-13 Mar-13

PLANNED PROGRESS ACCOMPLISHMENT

MONTHLY WORK ACCOMPLISMENT 1,877,907 10,625,250 13,562,989 15,653,580 16,076,640 15,206,125 17,006,242 17,048,671 15,573,596 12,202,691 10,384,840 9,526,222 8,821,270 6,021,335 5,513,064 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 260,703,363

CUM. MONTHLY WORK ACCOMPLISMENT 0 0 0 0 1,877,907 12,503,156 26,066,145 41,719,725 57,796,365 73,002,490 90,008,732 107,057,403 122,630,999 134,833,690 145,218,530 154,744,752 163,566,022 169,587,356 175,100,420 182,929,519 193,748,773 205,554,953 217,845,059 229,101,045 238,362,761 246,648,702 251,702,547 256,509,271 259,553,625 260,703,363 260,703,363 260,703,363 260,703,363 260,703,363

PAYMENT INVOICES

ADVANCE PAYMENT 10% 34,323,621 34,323,621

INTERIM PAYMENT INVOICES

(WITHIN 30 DAYS OF RECEIPT OFMONTHLY STATEMENT)

PRELIMINARIES 5,777,299 5,777,299 6,602,627 1,551,617 3,532,406 3,548,912 4,126,642 3,804,764 3,161,008 3,722,231 3,788,257 3,540,659 2,929,916 2,599,785 2,467,732 2,335,679 1,551,617 1,444,325 1,873,496 2,583,278 2,632,798 2,962,929 2,806,117 2,409,959 1,989,042 1,147,207 1,023,407 635,503 206,332 82,532,843

MONTHLY WORK ACCOMPLISHED 1,877,907 10,625,250 13,562,989 15,653,580 16,076,640 15,206,125 17,006,242 17,048,671 15,573,596 12,202,691 10,384,840 9,526,222 8,821,270 6,021,335 5,513,064 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 260,703,363

MONTHLY INTERIM PAYMENT INVOCIE 0 5,777,299 5,777,299 6,602,627 3,429,524 14,157,655 17,111,901 19,780,222 19,881,404 18,367,133 20,728,473 20,836,929 19,114,255 15,132,606 12,984,625 11,993,954 11,156,949 7,572,952 6,957,388 9,702,594 13,402,532 14,438,978 15,253,035 14,062,102 11,671,675 10,274,982 6,201,052 5,830,131 3,679,857 1,356,070 0 0 0 343,236,206

RELEASE OF RETENTION AMOUNT 17,161,810

CUM. INTERIM PAYMENT INVOICES 0 5,777,299 11,554,598 18,157,225 21,586,749 35,744,405 52,856,306 72,636,528 92,517,932 110,885,065 131,613,538 152,450,467 171,564,722 186,697,328 199,681,953 211,675,907 222,832,856 230,405,808 237,363,197 247,065,791 260,468,324 274,907,301 290,160,336 304,222,439 315,894,114 326,169,096 332,370,148 338,200,279 341,880,136 343,236,206 343,236,206 343,236,206 343,236,206

PAYMENT DEDUCTIONS

ADVANCE PAYMNET RECOVERY 0 577,730 577,730 660,263 342,952 1,415,766 1,711,190 1,978,022 1,988,140 1,836,713 2,072,847 2,083,693 1,911,426 1,513,261 1,298,462 1,199,395 1,115,695 757,295 695,739 970,259 1,340,253 1,443,898 1,525,304 1,406,210 1,167,168 1,027,498 620,105 583,013 367,986 135,607 34,323,621

5% RETENTION WHICH SHALL BE RELEASED 288,865 288,865 330,131 171,476 707,883 855,595 989,011 994,070 918,357 1,036,424 1,041,846 955,713 756,630 649,231 599,698 557,847 378,648 347,869 485,130 670,127 721,949 762,652 703,105 583,584 513,749 310,053 291,507 183,993 67,804 17,161,810
AFTER ISSUE OF PAC

NET MONTHLY EARNED CASHFLOW 34,323,621 4,910,704 4,910,704 5,612,233 2,915,095 12,034,007 14,545,116 16,813,189 16,899,193 15,612,063 17,619,202 17,711,389 16,247,117 12,862,715 11,036,931 10,194,861 9,483,407 6,437,009 5,913,780 8,247,205 11,392,153 12,273,131 12,965,080 11,952,787 9,920,924 8,733,735 5,270,894 4,955,611 3,127,878 1,152,660 326,074,396

CUM. NET MONTHLY EARNED CASHFLOW 34,323,621 39,234,325 44,145,029 49,757,262 52,672,358 64,706,365 79,251,480 96,064,669 112,963,862 128,575,926 146,195,128 163,906,517 180,153,634 193,016,350 204,053,281 214,248,142 223,731,548 230,168,558 236,082,338 244,329,543 255,721,696 267,994,827 280,959,907 292,912,694 302,833,617 311,567,352 316,838,246 321,793,858 324,921,736 326,074,396 326,074,396 326,074,396 326,074,396

PRE-AWARD - REV.00 NOTE: ACC PROVIDES RETENTION BOND VALUE OF 10% CONTRACT VALUE IN LIEU OF RETENTION AMOUNT
BASED ON TENDER PROGRAMME

1 of 8
 ARABIAN CONSTRUCTION COMPANY
RUWAIS: INTEGRATED GAS DEVELOPMENT 4TH NGL TRAIN PROJECT

EARNED PRO G RESS & PAYM ENT SCHEDULE

BUILDING WORKS
PROJECTED CASH FLOW

CUM. NET MONTHLY EARNED CASHFLOW

40,000,000 300,000,000

35,000,000

CUM. INTERIM PAYMENT INVOICES 250,000,000

MONTHLY INTERIM PAYMENT INVOCIE

30,000,000

NET MONTHLY EARNED CASHFLOW

200,000,000

CUM. INTERIM PAYMENT INVOICES

25,000,000

CUM. NET MONTHLY EARNED CASHFLOW

20,000,000 150,000,000

15,000,000
100,000,000

10,000,000

50,000,000

5,000,000

0 0
40268 40298 40329 40359 40390 40421 40451 40482 40512 40543 40574 40602 40633 40663 40694 40724 40755 40786 40816 40847 41243 41333 41364 41943
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20… 33… 36 37… 56

MONTH

PROJECTED CASH FLOW (AED)

MOBI.. PERIOD CONSTRUCTION PERIOD LIABILITY PERIOD
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20… 33… 36 37… 56

Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-12 Feb-13 Mar-13 Oct-14

PLANNED PROGRESS ACCOMPLISHMENT

MONTHLY WORK ACCOMPLISMENT 1,237,467 2,509,467 5,454,341 12,139,551 17,626,805 20,695,794 21,485,809 22,593,454 20,403,420 20,246,660 19,578,269 17,345,113 16,187,597 7,758,343 1,783,027 207,045,118

CUM. MONTHLY WORK ACCOMPLISMENT 0 0 0 0 1,237,467 3,746,934 9,201,275 21,340,826 38,967,631 59,663,426 81,149,235 103,742,689 124,146,110 144,392,769 163,971,038 181,316,152 197,503,748 205,262,092 207,045,118 207,045,118 207,045,118 207,045,118 207,045,118 207,045,118 207,045,118

PAYMENT INVOICES

ADVANCE PAYMENT 10% 27,058,851 27,058,851

INTERIM PAYMENT INVOICES

(TO BE RAISED IN THE BEGINNING OF THE MONTH)

PRELIMINARIES 4,448,037 4,448,037 5,083,471 296,233 600,733 1,305,697 2,906,047 4,219,622 4,954,298 5,143,417 5,408,572 4,884,307 4,846,781 4,686,777 4,152,189 3,875,095 1,857,244 426,833 63,543,389

MONTHLY WORK ACCOMPLISHED 1,237,467 2,509,467 5,454,341 12,139,551 17,626,805 20,695,794 21,485,809 22,593,454 20,403,420 20,246,660 19,578,269 17,345,113 16,187,597 7,758,343 1,783,027 207,045,118

MONTHLY INTERIM PAYMENT INVOCIE 0 4,448,037 4,448,037 5,083,471 1,533,700 3,110,199 6,760,038 15,045,598 21,846,428 25,650,092 26,629,226 28,002,026 25,287,727 25,093,440 24,265,046 21,497,302 20,062,692 9,615,587 2,209,860 0 0 0 0 0 270,588,507

RELEASE OF RETENTION AMOUNT 13,529,425 13,529,425

CUM. INTERIM PAYMENT INVOICES 0 4,448,037 8,896,074 13,979,546 15,513,246 18,623,445 25,383,483 40,429,081 62,275,509 87,925,601 114,554,827 142,556,853 167,844,580 192,938,020 217,203,066 238,700,369 258,763,060 268,378,648 270,588,507 270,588,507 270,588,507 270,588,507 270,588,507 270,588,507

PAYMENT DEDUCTIONS

ADVANCE PAYMNET RECOVERY 0 444,804 444,804 508,347 153,370 311,020 676,004 1,504,560 2,184,643 2,565,009 2,662,923 2,800,203 2,528,773 2,509,344 2,426,505 2,149,730 2,006,269 961,559 220,986 0 0 27,058,851

5% RETENTION WHICH SHALL BE RELEASED 222,402 222,402 254,174 76,685 155,510 338,002 752,280 1,092,321 1,282,505 1,331,461 1,400,101 1,264,386 1,254,672 1,213,252 1,074,865 1,003,135 480,779 110,493 13,529,425
AFTER ISSUE OF PAC

NET MONTHLY EARNED CASHFLOW 27,058,851 3,780,832 3,780,832 4,320,950 1,303,645 2,643,669 5,746,032 12,788,758 18,569,463 21,802,578 22,634,842 23,801,722 21,494,568 21,329,424 20,625,289 18,272,707 17,053,288 8,173,249 1,878,381 0 0 257,059,082

CUM. NET MONTHLY EARNED CASHFLOW 27,058,851 30,839,682 34,620,514 38,941,464 40,245,110 42,888,779 48,634,811 61,423,570 79,993,033 101,795,611 124,430,454 148,232,176 169,726,744 191,056,168 211,681,457 229,954,164 247,007,452 255,180,701 257,059,082 257,059,082 257,059,082 257,059,082 257,059,082 257,059,082

EFFECT OF RECEIPT OF PAYMENT AFTER 45 DAYS OF SUBMITTAL OF INVOICE

2 of 8
 ARABIAN CONSTRUCTION COMPANY
EARNED PRO G RESS & PAYM ENT SCHEDULE
RUWAIS: INTEGRATED GAS DEVELOPMENT 4TH NGL TRAIN PROJECT
CIVIL WORKS
PROJECTED CASH FLOW

50,000,000 400,000,000

45,000,000
350,000,000

CUM. NET MONTHLY EARNED CASHFLOW

40,000,000

MONTHLY INTERIM PAYMENT INVOCIE 300,000,000

35,000,000
NET MONTHLY EARNED CASHFLOW

CUM. INTERIM PAYMENT INVOICES 250,000,000

30,000,000
CUM. INTERIM PAYMENT INVOICES
CUM. NET MONTHLY EARNED CASHFLOW

25,000,000 200,000,000

20,000,000
150,000,000

15,000,000

100,000,000

10,000,000

50,000,000

5,000,000

0 0
40268 40298 40329 40359 40390 40421 40451 40482 40512 40543 40574 40602 40633 40663 40694 40724 40755 40786 40816 40847 40877 40908 40939 40968 40999 41029 41060 41090 41121 41152
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33… 54

MONTH

PROJECTED CASH FLOW (AED)

MOBI.. PERIOD CONSTRUCTION PERIOD LIABILITY PERIOD
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33… 54 TOTAL

Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12

PLANNED PROGRESS ACCOMPLISHMENT

MONTHLY WORK ACCOMPLISMENT 1,877,907 10,625,250 13,562,989 15,653,580 16,076,640 15,206,125 17,006,242 17,048,671 15,573,596 12,202,691 10,384,840 9,526,222 8,821,270 6,021,335 5,513,064 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 260,703,363

CUM. MONTHLY WORK ACCOMPLISMENT 0 0 0 0 1,877,907 12,503,156 26,066,145 41,719,725 57,796,365 73,002,490 90,008,732 107,057,403 122,630,999 134,833,690 145,218,530 154,744,752 163,566,022 169,587,356 175,100,420 182,929,519 193,748,773 205,554,953 217,845,059 229,101,045 238,362,761 246,648,702 251,702,547 256,509,271 259,553,625 260,703,363 260,703,363 260,703,363 260,703,363 260,703,363

PAYMENT INVOICES

ADVANCE PAYMENT 10% 34,323,621 34,323,621

INTERIM PAYMENT INVOICES

(WITHIN 30 DAYS OF RECEIPT OFMONTHLY STATEMENT)

PRELIMINARIES 5,777,299 5,777,299 6,602,627 1,551,617 3,532,406 3,548,912 4,126,642 3,804,764 3,161,008 3,722,231 3,788,257 3,540,659 2,929,916 2,599,785 2,467,732 2,335,679 1,551,617 1,444,325 1,873,496 2,583,278 2,632,798 2,962,929 2,806,117 2,409,959 1,989,042 1,147,207 1,023,407 635,503 206,332 82,532,843

MONTHLY WORK ACCOMPLISHED 1,877,907 10,625,250 13,562,989 15,653,580 16,076,640 15,206,125 17,006,242 17,048,671 15,573,596 12,202,691 10,384,840 9,526,222 8,821,270 6,021,335 5,513,064 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 260,703,363

MONTHLY INTERIM PAYMENT INVOCIE 0 5,777,299 5,777,299 6,602,627 3,429,524 14,157,655 17,111,901 19,780,222 19,881,404 18,367,133 20,728,473 20,836,929 19,114,255 15,132,606 12,984,625 11,993,954 11,156,949 7,572,952 6,957,388 9,702,594 13,402,532 14,438,978 15,253,035 14,062,102 11,671,675 10,274,982 6,201,052 5,830,131 3,679,857 1,356,070 0 0 0 343,236,206

CUM. INTERIM PAYMENT INVOICES 0 5,777,299 11,554,598 18,157,225 21,586,749 35,744,405 52,856,306 72,636,528 92,517,932 110,885,065 131,613,538 152,450,467 171,564,722 186,697,328 199,681,953 211,675,907 222,832,856 230,405,808 237,363,197 247,065,791 260,468,324 274,907,301 290,160,336 304,222,439 315,894,114 326,169,096 332,370,148 338,200,279 341,880,136 343,236,206 343,236,206 343,236,206 343,236,206

PAYMENT DEDUCTIONS

ADVANCE PAYMNET RECOVERY 0 577,730 577,730 660,263 342,952 1,415,766 1,711,190 1,978,022 1,988,140 1,836,713 2,072,847 2,083,693 1,911,426 1,513,261 1,298,462 1,199,395 1,115,695 757,295 695,739 970,259 1,340,253 1,443,898 1,525,304 1,406,210 1,167,168 1,027,498 620,105 583,013 367,986 135,607 34,323,621

NET MONTHLY EARNED CASHFLOW 34,323,621 5,199,569 5,199,569 5,942,365 3,086,572 12,741,890 15,400,711 17,802,200 17,893,264 16,530,420 18,655,626 18,753,236 17,202,830 13,619,346 11,686,162 10,794,558 10,041,254 6,815,657 6,261,650 8,732,335 12,062,279 12,995,080 13,727,732 12,655,892 10,504,508 9,247,484 5,580,947 5,247,118 3,311,871 1,220,463 343,236,206

CUM. NET MONTHLY EARNED CASHFLOW 34,323,621 39,523,190 44,722,759 50,665,124 53,751,695 66,493,585 81,894,296 99,696,496 117,589,759 134,120,179 152,775,805 171,529,041 188,731,870 202,351,216 214,037,378 224,831,937 234,873,191 241,688,848 247,950,498 256,682,833 268,745,112 281,740,192 295,467,923 308,123,815 318,628,323 327,875,807 333,456,754 338,703,872 342,015,743 343,236,206 343,236,206 343,236,206 343,236,206

PRE-AWARD - REV.00 NOTE: ACC PROVIDES RETENTION BOND VALUE OF 10% CONTRACT VALUE IN LIEU OF RETENTION AMOUNT
BASED ON TENDER PROGRAMME

3 of 8
 ARABIAN CONSTRUCTION COMPANY
EARNED PRO G RESS & PAYM ENT SCHEDULE RUWAIS: INTEGRATED GAS DEVELOPMENT 4TH NGL TRAIN PROJECT
BUILDING WORKS
PROJECTED CASH FLOW

CUM. NET MONTHLY EARNED CASHFLOW

40,000,000 300,000,000

35,000,000

CUM. INTERIM PAYMENT INVOICES 250,000,000

MONTHLY INTERIM PAYMENT INVOCIE

30,000,000

NET MONTHLY EARNED CASHFLOW

200,000,000
CUM. INTERIM PAYMENT INVOICES
25,000,000

CUM. NET MONTHLY EARNED CASHFLOW

20,000,000 150,000,000

15,000,000
100,000,000

10,000,000

50,000,000

5,000,000

0 0
40268 40298 40329 40359 40390 40421 40451 40482 40512 40543 40574 40602 40633 40663 40694 40724 40755 40786 40816 40847 41243 41333 41364 41943
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20… 33… 36 37… 56

MONTH

PROJECTED CASH FLOW (AED)

MOBI.. PERIOD CONSTRUCTION PERIOD LIABILITY PERIOD
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20… 33… 36 37… 56

Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-12 Feb-13 Mar-13 Oct-14

PLANNED PROGRESS ACCOMPLISHMENT

MONTHLY WORK ACCOMPLISMENT 1,237,467 2,509,467 5,454,341 12,139,551 17,626,805 20,695,794 21,485,809 22,593,454 20,403,420 20,246,660 19,578,269 17,345,113 16,187,597 7,758,343 1,783,027 207,045,118

CUM. MONTHLY WORK ACCOMPLISMENT 0 0 0 0 1,237,467 3,746,934 9,201,275 21,340,826 38,967,631 59,663,426 81,149,235 103,742,689 124,146,110 144,392,769 163,971,038 181,316,152 197,503,748 205,262,092 207,045,118 207,045,118 207,045,118 207,045,118 207,045,118 207,045,118 207,045,118

PAYMENT INVOICES

ADVANCE PAYMENT 10% 27,058,851 27,058,851

INTERIM PAYMENT INVOICES

(TO BE RAISED IN THE BEGINNING OF THE MONTH)

PRELIMINARIES 4,448,037 4,448,037 5,083,471 296,233 600,733 1,305,697 2,906,047 4,219,622 4,954,298 5,143,417 5,408,572 4,884,307 4,846,781 4,686,777 4,152,189 3,875,095 1,857,244 426,833 63,543,389

MONTHLY WORK ACCOMPLISHED 1,237,467 2,509,467 5,454,341 12,139,551 17,626,805 20,695,794 21,485,809 22,593,454 20,403,420 20,246,660 19,578,269 17,345,113 16,187,597 7,758,343 1,783,027 207,045,118

MONTHLY INTERIM PAYMENT INVOCIE 0 4,448,037 4,448,037 5,083,471 1,533,700 3,110,199 6,760,038 15,045,598 21,846,428 25,650,092 26,629,226 28,002,026 25,287,727 25,093,440 24,265,046 21,497,302 20,062,692 9,615,587 2,209,860 0 0 0 0 0 270,588,507

CUM. INTERIM PAYMENT INVOICES 0 4,448,037 8,896,074 13,979,546 15,513,246 18,623,445 25,383,483 40,429,081 62,275,509 87,925,601 114,554,827 142,556,853 167,844,580 192,938,020 217,203,066 238,700,369 258,763,060 268,378,648 270,588,507 270,588,507 270,588,507 270,588,507 270,588,507 270,588,507

PAYMENT DEDUCTIONS

ADVANCE PAYMNET RECOVERY 0 444,804 444,804 508,347 153,370 311,020 676,004 1,504,560 2,184,643 2,565,009 2,662,923 2,800,203 2,528,773 2,509,344 2,426,505 2,149,730 2,006,269 961,559 220,986 0 0 27,058,851

NET MONTHLY EARNED CASHFLOW 27,058,851 4,003,234 4,003,234 4,575,124 1,380,330 2,799,179 6,084,034 13,541,038 19,661,785 23,085,083 23,966,303 25,201,824 22,758,954 22,584,096 21,838,541 19,347,572 18,056,423 8,654,029 1,988,874 0 0 270,588,507

CUM. NET MONTHLY EARNED CASHFLOW 27,058,851 31,062,084 35,065,318 39,640,442 41,020,772 43,819,951 49,903,986 63,445,024 83,106,809 106,191,892 130,158,195 155,360,018 178,118,973 200,703,069 222,541,610 241,889,183 259,945,605 268,599,634 270,588,507 270,588,507 270,588,507 270,588,507 270,588,507 270,588,507

EFFECT OF RECEIPT OF PAYMENT AFTER 45 DAYS OF SUBMITTAL OF INVOICE

4 of 8
 ARABIAN CONSTRUCTION COMPANY
RUWAIS: INTEGRATED GAS DEVELOPMENT 4TH NGL TRAIN PROJECT
EARNED PRO G RESS & PAYM ENT SCHEDULE CIVIL & BUILDING WORKS
PROJECTED CASH FLOW

80,000,000 700,000,000

70,000,000 CUM. NET MONTHLY EARNED CASHFLOW

600,000,000

CUM. INTERIM PAYMENT INVOICES

60,000,000 MONTHLY INTERIM PAYMENT INVOICE
500,000,000

NET MONTHLY EARNED CASHFLOW

50,000,000 CUM. INTERIM PAYMENT INVOICES

400,000,000
CUM. NET MONTHLY EARNED CASHFLOW

40,000,000

300,000,000

30,000,000

200,000,000

20,000,000

100,000,000
10,000,000

0 0
40268 40298 40329 40359 40390 40421 40451 40482 40512 40543 40574 40602 40633 40663 40694 40724 40755 40786 40816 40847 40877 40908 40939 40968 40999 41029 41060 41090 41121 41152 41182 41213 41243 41333 41364 41943
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33… 36 37… 56

MONTH

PROJECTED CASH FLOW (AED)

MOBI.. PERIOD CONSTRUCTION PERIOD LIABILITY PERIOD
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33… 36 37… 56 TOTAL

Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Feb-13 Mar-13 Oct-14

PLANNED PROGRESS ACCOMPLISHMENT

MONTHLY WORK ACCOMPLISMENT 0 0 0 0 3,115,374 13,134,716 19,017,330 27,793,131 33,703,445 35,901,920 38,492,051 39,642,125 35,977,017 32,449,350 29,963,109 26,871,335 25,008,866 13,779,678 7,296,091 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 467,748,481

CUM. MONTHLY WORK ACCOMPLISMENT 0 0 0 0 3,115,374 16,250,090 35,267,420 63,060,551 96,763,996 132,665,916 171,157,967 210,800,092 246,777,109 279,226,459 309,189,568 336,060,904 361,069,770 374,849,448 382,145,538 389,974,637 400,793,892 412,600,072 424,890,178 436,146,164 445,407,880 453,693,820 458,747,666 463,554,389 466,598,743 467,748,481 467,748,481 467,748,481 467,748,481 467,748,481 467,748,481 467,748,481

PAYMENT INVOICES

ADVANCE PAYMENT 10% 61,382,471 61,382,471

INTERIM PAYMENT INVOICES

(TO BE RAISED IN THE BEGINNING OF THE MONTH)

This amount includes amount

PRELIMINARIES 0 0 10,225,336 10,225,336 11,686,099 1,847,851 4,133,139 4,854,609 7,032,689 8,024,386 8,115,305 8,865,648 9,196,829 8,424,966 7,776,697 7,286,561 6,619,921 6,210,774 3,408,861 1,871,158 1,873,496 2,583,278 2,632,798 2,962,929 2,806,117 2,409,959 1,989,042 1,147,207 1,023,407 635,503 206,332 expected to releasae retention 146,076,232
money on Fweb'13

MONTHLY WORK ACCOMPLISHED 0 0 0 0 0 3,115,374 13,134,716 19,017,330 27,793,131 33,703,445 35,901,920 38,492,051 39,642,125 35,977,017 32,449,350 29,963,109 26,871,335 25,008,866 13,779,678 7,296,091 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 467,748,481

MONTHLY INTERIM PAYMENT INVOICE 0 10,225,336 10,225,336 11,686,099 4,963,224 17,267,855 23,871,939 34,825,820 41,727,831 44,017,225 47,357,699 48,838,955 44,401,983 40,226,047 37,249,671 33,491,256 31,219,641 17,188,540 9,167,248 9,702,594 13,402,532 14,438,978 15,253,035 14,062,102 11,671,675 10,274,982 6,201,052 5,830,131 3,679,857 1,356,070 0 0 0 613,824,713

CUM. INTERIM PAYMENT INVOICES 0 10,225,336 20,450,672 32,136,771 37,099,995 54,367,850 78,239,789 113,065,609 154,793,441 198,810,666 246,168,365 295,007,320 339,409,302 379,635,349 416,885,019 450,376,276 481,595,917 498,784,456 507,951,704 517,654,299 531,056,831 545,495,809 560,748,844 574,810,946 586,482,621 596,757,603 602,958,656 608,788,786 612,468,643 613,824,713 613,824,713 613,824,713 613,824,713 613,824,713 613,824,713

PAYMENT DEDUCTIONS + RELEASE OF

RETENSION AMOUNT

ADVANCE PAYMENT RECOVERY 0 1,022,534 1,022,534 1,168,610 496,322 1,726,785 2,387,194 3,482,582 4,172,783 4,401,723 4,735,770 4,883,895 4,440,198 4,022,605 3,724,967 3,349,126 3,121,964 1,718,854 916,725 970,259 1,340,253 1,443,898 1,525,304 1,406,210 1,167,168 1,027,498 620,105 583,013 367,986 135,607 61,382,471

5% RETENTION WHICH SHALL BE RELEASED 511,267 511,267 584,305 248,161 863,393 1,193,597 1,741,291 2,086,392 2,200,861 2,367,885 2,441,948 2,220,099 2,011,302 1,862,484 1,674,563 1,560,982 859,427 458,362 485,130 670,127 721,949 762,652 703,105 583,584 513,749 310,053 291,507 183,993 67,804 30,691,236
AFTER ISSUE OF PAC

NET MONTHLY EARNED CASHFLOW 61,382,471 8,691,536 8,691,536 9,933,184 4,218,741 14,677,677 20,291,148 29,601,947 35,468,657 37,414,641 40,254,044 41,513,112 37,741,685 34,192,140 31,662,220 28,467,568 26,536,695 14,610,259 7,792,161 8,247,205 11,392,153 12,273,131 12,965,080 11,952,787 9,920,924 8,733,735 5,270,894 4,955,611 3,127,878 1,152,660 0 0 30,691,236 0 0 613,824,714

CUM. NET MONTHLY EARNED CASHFLOW 61,382,471 70,074,007 78,765,543 88,698,727 92,917,467 107,595,144 127,886,292 157,488,239 192,956,896 230,371,537 270,625,581 312,138,693 349,880,378 384,072,518 415,734,738 444,202,306 470,739,000 485,349,259 493,141,420 501,388,625 512,780,778 525,053,909 538,018,989 549,971,776 559,892,700 568,626,434 573,897,329 578,852,940 581,980,818 583,133,478 583,133,478 583,133,478 613,824,714 613,824,714 613,824,714

EFFECT OF RECEIPT OF PAYMENT AFTER 45 DAYS OF SUBMITTAL OF INVOICE

(Eg: Invoice will be raised on first week of August-10 for the work accomplished in the month of July-10 and Effect of receipt of payment on or before 15 th of September-10)

5 of 8
 Jul-09 1 As per ACC Techo-Commerical Proposal AUH/ET-SZ/T-955/PETROFA
Aug-09 2 Effective start date is 01/ July/09
Sep-09 3 Achieve Provisional Acceptance (PAC) - 44 months
Oct-09 4
Nov-09 5
Dec-09 6
Jan-10 7
Feb-10 8
1 Mar-10 9
2 Apr-10 10
3 May-10 11
4 Jun-10 12
5 Jul-10 13
6 Aug-10 14
7 Sep-10 15
8 Oct-10 16
9 Nov-10 17
10 Dec-10 18
11 Jan-11 19
12 Feb-11 20
13 Mar-11 21
14 Apr-11 22
15 May-11 23
16 Jun-11 24
17 Jul-11 25
18 Aug-11 26
19 Sep-11 27
20 Oct-11 28
21 Nov-11 29
22 Dec-11 30
23 Jan-12 31
24 Feb-12 32
25 Mar-12 33
26 Apr-12 34
27 May-12 35
28 Jun-12 36
29 Jul-12 37
30 Aug-12 38
31 Sep-12 39
32 Oct-12 40
33 Nov-12 41
34 Dec-12 42
35 Jan-13 43
36 Feb-13 44
UH/ET-SZ/T-955/PETROFAC/1.1.B/6845/09 dt. 06/06/2009
 ARABIAN CONSTRUCTION COMPANY
EARNED PRO G RESS & PAYM ENT SCHEDULE
RUWAIS: INTEGRATED GAS DEVELOPMENT 4TH NGL TRAIN PROJECT
EARLY, CIVIL & BUILDING WORKS
PROJECTED CASH FLOW

80,000,000 700,000,000

CUM. NET MONTHLY EARNED CASHFLOW

70,000,000
600,000,000

60,000,000 MONTHLY INTERIM PAYMENT INVOCIE

500,000,000
CUM. INTERIM PAYMENT INVOICES
NET MONTHLY EARNED CASHFLOW

50,000,000 CUM. INTERIM PAYMENT INVOICES

400,000,000
CUM. NET MONTHLY EARNED CASHFLOW

40,000,000

300,000,000

30,000,000

200,000,000

20,000,000

100,000,000
10,000,000

0 0
40268 40298 40329 40359 40390 40421 40451 40482 40512 40543 40574 40602 40633 40663 40694 40724 40755 40786 40816 40847 40877 40908 40939 40968 40999 41029 41060 41090 41121 41152 41182 41213 41243 41943
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33… 56

MONTH

PROJECTED CASH FLOW (AED)

MOBI.. PERIOD CONSTRUCTION PERIOD LIABILITY PERIOD
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33… 56 TOTAL

Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Oct-14

PLANNED PROGRESS ACCOMPLISHMENT

MONTHLY WORK ACCOMPLISMENT 0 0 0 0 3,115,374 13,134,716 19,017,330 27,793,131 33,703,445 35,901,920 38,492,051 39,642,125 35,977,017 32,449,350 29,963,109 26,871,335 25,008,866 13,779,678 7,296,091 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 467,748,481

CUM. MONTHLY WORK ACCOMPLISMENT 0 0 0 0 3,115,374 16,250,090 35,267,420 63,060,551 96,763,996 132,665,916 171,157,967 210,800,092 246,777,109 279,226,459 309,189,568 336,060,904 361,069,770 374,849,448 382,145,538 389,974,637 400,793,892 412,600,072 424,890,178 436,146,164 445,407,880 453,693,820 458,747,666 463,554,389 466,598,743 467,748,481 467,748,481 467,748,481 467,748,481 467,748,481

PAYMENT INVOICES

ADVANCE PAYMENT 10% 61,382,471 61,382,471

INTERIM PAYMENT INVOICES

(TO BE RAISED IN THE BEGINNING OF THE MONTH)

PRELIMINARIES 0 0 10,225,336 10,225,336 11,686,099 1,847,851 4,133,139 4,854,609 7,032,689 8,024,386 8,115,305 8,865,648 9,196,829 8,424,966 7,776,697 7,286,561 6,619,921 6,210,774 3,408,861 1,871,158 1,873,496 2,583,278 2,632,798 2,962,929 2,806,117 2,409,959 1,989,042 1,147,207 1,023,407 635,503 206,332 146,076,232

MONTHLY WORK ACCOMPLISHED 0 0 0 0 0 3,115,374 13,134,716 19,017,330 27,793,131 33,703,445 35,901,920 38,492,051 39,642,125 35,977,017 32,449,350 29,963,109 26,871,335 25,008,866 13,779,678 7,296,091 7,829,099 10,819,254 11,806,180 12,290,106 11,255,986 9,261,716 8,285,941 5,053,846 4,806,724 3,044,354 1,149,738 467,748,481

MONTHLY INTERIM PAYMENT INVOCIE 0 10,225,336 10,225,336 11,686,099 4,963,224 17,267,855 23,871,939 34,825,820 41,727,831 44,017,225 47,357,699 48,838,955 44,401,983 40,226,047 37,249,671 33,491,256 31,219,641 17,188,540 9,167,248 9,702,594 13,402,532 14,438,978 15,253,035 14,062,102 11,671,675 10,274,982 6,201,052 5,830,131 3,679,857 1,356,070 0 0 0 613,824,713

CUM. INTERIM PAYMENT INVOICES 0 10,225,336 20,450,672 32,136,771 37,099,995 54,367,850 78,239,789 113,065,609 154,793,441 198,810,666 246,168,365 295,007,320 339,409,302 379,635,349 416,885,019 450,376,276 481,595,917 498,784,456 507,951,704 517,654,299 531,056,831 545,495,809 560,748,844 574,810,946 586,482,621 596,757,603 602,958,656 608,788,786 612,468,643 613,824,713 613,824,713 613,824,713 613,824,713

PAYMENT DEDUCTIONS

ADVANCE PAYMNET RECOVERY 0 1,022,534 1,022,534 1,168,610 496,322 1,726,785 2,387,194 3,482,582 4,172,783 4,401,723 4,735,770 4,883,895 4,440,198 4,022,605 3,724,967 3,349,126 3,121,964 1,718,854 916,725 970,259 1,340,253 1,443,898 1,525,304 1,406,210 1,167,168 1,027,498 620,105 583,013 367,986 135,607 61,382,471

NET MONTHLY EARNED CASHFLOW 61,382,471 9,202,803 9,202,803 10,517,489 4,466,902 15,541,069 21,484,745 31,343,238 37,555,048 39,615,503 42,621,929 43,955,059 39,961,784 36,203,442 33,524,704 30,142,131 28,097,677 15,469,686 8,250,523 8,732,335 12,062,279 12,995,080 13,727,732 12,655,892 10,504,508 9,247,484 5,580,947 5,247,118 3,311,871 1,220,463 613,824,713

CUM. NET MONTHLY EARNED CASHFLOW 61,382,471 70,585,274 79,788,077 90,305,565 94,772,467 110,313,536 131,798,281 163,141,519 200,696,568 240,312,070 282,934,000 326,889,059 366,850,843 403,054,285 436,578,989 466,721,119 494,818,796 510,288,482 518,539,005 527,271,340 539,333,619 552,328,699 566,056,431 578,712,323 589,216,831 598,464,314 604,045,261 609,292,379 612,604,250 613,824,713 613,824,713 613,824,713 613,824,713

EFFECT OF RECEIPT OF PAYMENT AFTER 45 DAYS OF SUBMITTAL OF INVOICE

8 of 8