Pakgen Power : TRANSMISSION OF QUARTERLY REPORT FOR THE PRIOD ENDED MARCH 31, 2022

CONTENTS

• 02 Company Profile

• 04 Directors' Report

• 06 Directors' Report (Urdu)

• 08 Condensed Interim Statement of Financial Position

• 10 Condensed Interim Staement of Profit or Loss Account and

  Other Comprehensive Income

• 11 Condensed Interim Statement of Changes in Equity

• 12 Condensed Interim Statement of Cash Flows

• 13 Selected Notes to the Condensed Interim Financial Statements

COMPANY PROFILE

THE COMPANYBOARD OF DIRECTORSCHIEF EXECUTIVE OFFICER

AUDIT COMMITTEEHUMAN RESOURCE &

REMUNERATION(HR &R) COMMITTEE

CHIEF FINANCIAL OFFICER

COMPANY SECRETARY

BANKERS OF THE

COMPANY

AUDITOR OF THE

COMPANY

LEGAL ADVISOR OF

THE COMPANY

REGISTERED OFFICE

Pakgen Power Limited ("the Company") was incorporated in Pakistan on 22 June 1995 under the repealed Companies Ordinance, 1984 now the Companies Act, 2017. The registered office is situated at 53-A, Lawrence Road, Lahore. The principal activities of the Company are to own, operate and maintain an oil fired power station ("the Complex") having gross capacity of 365 MW in Mehmood Kot, Muzaffargarh, Punjab, Pakistan.

Mr. Ghazanfar Hussain Mirza Mr. Aurangzeb Firoz

Mrs. Sadia Younas Mansha Mr. Samir Mustapha Chinoy Mr. Shahid Malik

Dr. Arif Bashir Mr. Farrukh Ifzal

Mian Hassan Mansha

Mr. Farrukh Ifzal

Mr. Aurangzeb Firoz Mr. Shahid Malik

Mr. Samir Mustapha Chinoy Mian Hassan Mansha

Mr. Ghazanfar Hussain Mirza

Mr. Tanvir Khalid

Mr. Khalid Mahmood Chohan

Habib Bank Limited

The Bank of Punjab Silk Bank Limited United Bank Limited Allied Bank Limited National Bank of Pakistan Bank Alfalah Limited Faysal Bank Limited Askari Bank Limited

Habib Metropolitan Bank Limited MCB Bank Limited

Bank Islamic Pakistan Limited Bank Al-Habib Limited

Al Baraka Bank (Pakistan) Limited

Riaz Ahmad & Co.

Chartered Accountants

Mr. M. Aurangzeb Khan Advocate High Court

53-A, Lawrence Road, Lahore-Pakistan

UAN: +92 42-111-11-33-33 Fax: +92 42 36367414

ChairmanChairmanChairman

HEAD OFFICESHARE REGISTRAR

1-B, Aziz Avenue, Gulberg-V, Lahore- Pakistan

Tel: + 92 42-35717090-96 Fax: +92 42-35717239

CDC Share Registrar Services Limited CDC House,99-B, Block-B, S.M.C.H.S Shahra-e-Faisal, Karachi - 74400

Tel: (92-21) 111-111-500

Fax: (92-21) 34326053

PLANT

Mehmood Kot, Muzaffargarh, Punjab - Pakistan.

DIRECTORS' REPORT

The Directors of Pakgen Power Limited "the Company" are pleased to present their report together with the Condensed Interim Financial Information for the first quarter ended March 31, 2022.

We report that during the period under review power plant dispatched 354,999 Mwh of electricity as compared with 131,962 Mwh dispatched during the corresponding period of the previous financial year.

Operation Financial Results:

The financial results of the Company for period ended March 31, 2022 are as follows:

PERIOD ENDED

The Company has posted after tax profit of Rs.936.239 million as against Rs.1,076.982 million earned in the comparative period. The net profits of the Company demonstrated the Earning per Share of Rs. 2.52 as against 2.89 per share earned in the comparable previous period.

Our sole customer Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) remains unable to meet its obligations in accordance with the Power Purchase Agreement (PPA) which are secured under a sovereign guarantee of Government of Pakistan. As on March 31, 2022, an amount of Rs.11.825 billion was receivable from CPPA-G.

COMPOSITION OF BOARD:

COMMITTEES OF THE BOARD:

Audit Committee of the Board:

Sr. # Name of Members

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