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Memorandum of Understanding

This Memorandum of Understanding (the “Agreement”) is made and entered into on 29 Jul 2026 (the “Effective Date”), by and between:

Recitals

WHEREAS the parties wish to record their mutual understanding regarding a proposed collaboration; and WHEREAS this Memorandum sets out the principal terms upon which the parties intend to negotiate a definitive agreement; NOW THEREFORE, the parties agree as follows.

Terms & conditions

1. 1. Purpose

   The parties intend to collaborate on [insert project / opportunity] on the broad terms described in this Memorandum, with a view to entering into definitive binding agreements in due course.

2. 2. Responsibilities of the Parties

   Each party shall use reasonable endeavours to perform the responsibilities allocated to it as described in Schedule A and to cooperate in good faith to achieve the Purpose.

3. 3. Costs & Expenses

   Unless otherwise agreed in writing, each party shall bear its own costs and expenses incurred in connection with this Memorandum and any negotiations contemplated by it.

4. 4. Confidentiality

   Each party shall keep confidential the existence and contents of this Memorandum and any information exchanged in connection with it, except as required by law or with the prior written consent of the other party.

5. 5. Non-Binding

   Except for the clauses on Confidentiality, Costs & Expenses, and Governing Law, this Memorandum is a statement of intent only and is not legally binding. No legal obligation shall arise between the parties until execution of definitive written agreements.

6. 6. Term

   This Memorandum shall remain in effect for a period of six (6) months from the Effective Date, unless extended or superseded by a definitive agreement.

Governing law & jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of the United Arab Emirates as applicable in the Emirate of Dubai. The parties submit to the exclusive jurisdiction of the courts of Dubai, UAE.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.