OHLA announces that the Arbitral Tribunal of the International Chamber of Commerce has issued an addendum to the award dated June 25, 2025, in the arbitration initiated by Qatar Foundation against the Joint Venture (JV) formed by OHLA (55%) and its partner, related to the Sidra Hospital contract in Qatar.

The correction represents a favorable outcome for the company’s interests, establishing that the JV will only have to pay Qatar Foundation 3,817,063 Qatari riyals (approximately €908,478), compared to the 104.6 million Qatari riyals (€24.3 million) initially set. This reduction, which eliminates almost the entire previous amount, confirms the strength of OHLA’s position from the outset and definitively removes the most significant contingency the company has faced in the last decade. In this regard, last June, after detecting a typographical error in the initial award, OHLA requested clarification from the Arbitral Tribunal, which led to the addendum notified this Thursday.

The claim filed by Qatar Foundation amounted to more than €950 million, so the current decision eliminates a contingency of considerable magnitude. Regarding this process, it should be noted that OHLA, maintaining a prudent approach at all times, had provisioned €28 million in its balance sheet. After covering the compensation finally established, the company will be able to reverse almost all of this provision, generating a positive impact on the Annual Accounts for the fiscal year.

In this regard, the company recalls that, following the issuance of the first award last July—prior to this clarification—its auditor removed the two emphasis paragraphs that weighed on its accounts: the one related to Material Uncertainty on Going Concern and the one referring to the potential effects of the Sidra Hospital arbitration.

Both JV parties have announced, as a precaution and prior to the issuance of the correction, the filing of an annulment appeal before the English courts.