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4

KUWAIT ENERGY PLC

INDEPENDENT REVIEW REPORT

INDEPENDENT REVIEW REPORT TO KUWAIT ENERGY plc

We have been engaged by the company to review the condensed set of financial statements in the half-yearly financial

report for the six months ended 30 June 2017 which comprises the condensed consolidated income statement, the

condensed consolidated statement of comprehensive income, the condensed consolidated balance sheet, the condensed

consolidated statement of changes in equity, the condensed consolidated cash flow statement and related notes 1 to

14. We have read the other information contained in the half-yearly financial report and considered whether it contains

any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.

This report is made solely to the company in accordance with the terms of our engagement letter dated 30 August 2017

and in accordance with International Standard on Review Engagements 2410 “Review of Interim Financial Information

Performed by the Independent Auditor of the Entity” issued by the International Auditing and Assurance Standards

Board. Our work has been undertaken so that we might state to the company those matters we are required to state to

it in an independent review report and for no other purpose. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company, for our review work, for this report, or for the

conclusions we have formed.

Directors’ responsibilities

The half-yearly financial report is the responsibility of, and has been approved by, the directors.

As disclosed in note 2, the annual financial statements of the group are prepared in accordance with IFRSs as adopted by

the European Union. The condensed set of financial statements included in this half-yearly financial report has been

prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting,” as adopted by the

European Union.

Our responsibility

Our responsibility is to express to the Company a conclusion on the condensed set of financial statements in the half-

yearly financial report based on our review.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements 2410 “Review of Interim

Financial Information Performed by the Independent Auditor of the Entity” issued by the International Auditing and

Assurance Standards Board. A review of interim financial information consists of making inquiries, primarily of persons

responsible for financial and accounting matters, and applying analytical and other review procedures. A review is

substantially less in scope than an audit conducted in accordance with International Standards on Auditing and

consequently does not enable us to obtain assurance that we would become aware of all significant matters that might

be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial

statements in the half-yearly financial report for the six months ended 30 June 2017 is not prepared, in all material

respects, in accordance with International Accounting Standard 34 as adopted by the European Union.

Deloitte SA

Geneva, Switzerland

29 September 2017

Mark Valentin

Robert Purdy

Partner

Director