CFPP LLC

The CFPP LLC was formed as a limited liability company on September 16, 2020, by the filing a Certificate of Organization with the Division of Corporations and Commercial Code of the Department of Commerce of the State of Utah pursuant to and in accordance with the Utah Revised Uniform Limited Liability Company Act, Title 48, Chapter 3a, Utah Code Annotated 1953, as amended from time to time (the "Act"). Utah Associated Municipal Power Systems (UAMPS), a political subdivision of the State of Utah, is the sole Member of the CFPP LLC.

The CFPP LLC has engaged Dr. Shawn Hughes to serve as Project Director. Dr. Hughes has more than 40 years of domestic and international experience in the nuclear project management, engineering, construction and D&D fields. As the CFPP LLC project director, Dr. Hughes is responsible for all aspects of project development, including interfaces with NuScale Power and Fluor on Engineering, Procurement and Construction and Combined Operating License application approval, resolution of remaining technical issues with support from owner’s engineers, development and implementation of an operating strategy, compliance with Department of Energy funding requirements, and conformance with cost model thresholds to assure project viability among the numerous power offtake subscribers.

The CFPP LLC awarded Fluor a contract in January 2021 to provide estimating, development, design and engineering services for its Carbon Free Power Project. The project scope includes the development of cost estimates and initial project planning work for the licensing, manufacturing and construction of the SMR plant. The plant will be air-cooled due to limited and precious water resources in the region.

Fluor is supporting CFPP LLC with the combined operating license application (COLA) process with the submittal to the U.S. Nuclear Regulatory Commission expected in early 2024. In the third quarter of 2021, Fluor mobilized to the Carbon Free Power Project site to lead site characterization activities for CFPP LLC. Site characterization includes the drilling of more than 50 exploratory bore holes, 10 groundwater monitoring and test wells as well as numerous surface and subsurface investigations to predict seismic response to be included in the site safety analysis. The site characterization scope has been completed, and the team is planned to be demobilized by the end of the first quarter in 2022. Fluor is responsible for the
engineering, procurement and construction of the entire CFPP facility and will be leading the design efforts for the Turbine Island and Balance of Site.

NuScale maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans.
Xcel Energy Nuclear Services has entered into a Term Sheet agreement outlining a process, roles and next steps that would be taken if Xcel Energy were to become a potential operator of the Project.