NEOM ETSD Quarterly Report Q1 2024

STAGE GATE MANAGEMENT

Planning & Technical Stage Gate Reviews In Q1 2024, ETSD reviewed 1 Strategy Documents (Stage 1), 6 Masterplans (Stages 2A-2B), 18 Pre- Concept Designs (Stage 2C), 36 Initial Asset Briefs (Stage 2D), and 32 Design Packages (Stages 3A-3D).

1 SD

1

2A CMP

1

2B DMP

5

2C PCD

18

2D IAB

34 36

3A CD

16

3B DvD

6

3C DD

7

3D IFC

3

Legend LUP: Land Use Permits; IFC: Issued for Construction (100%); DD: Detailed Design (90%); DvD: Developed Design (60%); CD: Concept Design(30%); PCD: Pre-Concept Design; IAB: Initial Asset Brief; DMP: Detailed Masterplan; CMP: Concept Masterplan; SD: Strategic Definition Stage Review Count (Q1 2024)

Cost & Commercial Reviews: In Q1 2024, ETSD Cost Estimation Division conducted around 28 Estimate Reviews across the various stages with an overall endorsement rate of 100%. Most of these reviews were conducted for Class 5 Estimates, and the breakdown by class is provided in the graph below.

100%

10

20

30

40

50

60

70

80

90

100

Estimate Review Acceptance (Q1 2024) Within Range Outside Range

23

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