MESSAGE FROM THE CHAIRMAN

Dear Shareholder,

Api Power Company Limited is one of the leading Companies in Nepal's Power Sector with Power Generation and Supply to National Grid as its core business through renewable resources abundantly available in the country. The company has its Corporate Office located at 4th Floor, Trade Tower Nepal, Thapathali, K.M.C.-11, Kathmandu, Nepal.

Api Power Company Limited is committed to operational excellence and believes in good governance, corporate citizenship and creating value for stakeholders. Company is registered with Securities Board of Nepal and the Shares of the Company 'API' are listed in Nepal Stock Exchange and is freely traded in the market.

Company has owned and developed various Hydroelectric and Solar Projects.

Hydroelectric Projects

1. Naugarh Gad Small Hydroelectric Project (8.5 MW)         : In Operation since 19th August, 2015

2. Upper Naugarh Gad Small Hydroelectric Project (8 MW) : In Operation since 30th October, 2019

3. Mathilo Chameliya Hydroelectric Project (40 MW)           : In Operation since 13th August, 2023

Solar Projects

1. Dhalkebar 1 MW Solar PV Project                                      : In Operation since 16th January, 2022

2.  Simara 1 MW Solar PV Project                                          : In Operation since 24th July, 2022

3.  Chandranigapur 4 MW Solar PV Project                            : In Operation since 22nd August, 2021

In recent years, Api Power Company Limited have made strategic efforts to expand our investment portfolio not only in energy sector widely also in real estate infrastructure development. This diversification not only strengthens our financial resilience but also positions us to capitalize on new opportunities, mitigate risks and drive sustainable growth. I am confident that the investments we have made so far will continue to complement and strengthen our core operations, enabling us to seize emerging trends and remain at the forefront of innovation. We aim to safeguard the company from market volatility while positioning ourselves for success in both the short and long term.

I would like to thank our talented leadership team and dedicated employees for their role in making these strategic investments a reality. Together, we will continue to drive the company forward on its path of sustained growth and success.

On Behalf of the Api Power Company Limited, I would like to thank our Shareholders, Investors, Government and Non- Government Organisations for their continuos support for the development, construction and operation of the Projects being developed by the Company.