#1LA EMAAR JAFENT EMAAR Prepared for the Future Built on Strength, Prudence & Resilience Investor Presentation for FY 2022#2Disclaimer Emaar Properties PJSC, for themselves and for Emaar Group, give notice that: The particulars of this presentation do not constitute any part of an offer or a contract. Given that the presentation contains information based on forecasts and roll outs, all statements contained in this presentation are made without responsibility on the part of Emaar Properties PJSC, their advisors, or members of Emaar Group (including their directors, officers and employees). None of the statements contained in this presentation is to be relied upon as a statement or representation of fact. All parties must satisfy themselves as to the correctness of each of the statements contained in this presentation. Emaar Properties PJSC and members of the Emaar Group do not make or give, and neither members of the Emaar Group nor any of their directors or officers or persons in their employment or advisors has any authority to make or give, any representation or warranty whatsoever in relation to this presentation. This presentation may not be stored, copied, distributed, transmitted, retransmitted or reproduced, in whole or in part, in any form or medium without the permission of Emaar Properties PJSC. | EMAAR#3Discussion Summary Investing In Emaar Expanding Footprint in UAE & International Markets Business Strategy & Outlook Q4 & FY 2022 Results Update Sustainability Annexure#4Investing In Emaar EMAAR#5Emaar Purpose & Business Model An Enduring Enterprise driven by: · • Vision to redefine engineering excellence • Mission to create futuristic residential, retail, entertainment & leisure assets transforming • the lifestyles of people globally Goal to deliver sustainable long- term growth and value creation Our Business Model: We operate a business model that puts risk mitigation at the center of our core strategies. We create value by providing high quality and highly desirable environments, which help our discerning customers to succeed today, and in the future. Our properties are also inclusive places, which foster opportunities and contribute positively to their neighbourhoods Our Purpose: Our purpose is to be the most admired realty group globally, that transforms the lives of its occupiers by delivering spaces that engage, excite and enrich, and thus deliver sustainable long-term income and wealth creation#6A Globally Admired Real Estate Company EMAAR CREATOR OF WORLD- RENOWNED ARCHITECTURES BURJ KHALIFA Tallest building in the world THE DUBAI MALL One of Most visited mall in the world THE DUBAI FOUNTAIN World's tallest choreographed musical fountain GLOBAL RANKINGS¹ IN LISTED REAL ESTATE SPACE RANKED #1 Best amongst the Top 50 Real Estate Developers In MENA² 1st IN MARKET CAP3 In MENA under MSCI EM Index 7th IN NET PROFIT³ In Emerging Markets (1st excluding China) 15th IN REVENUE³ In Emerging Markets (1st excluding China) 1st IN TOTAL ASSETS6 In Middle East (13th globally) PROVEN EXECUTION STRONG REVENUE VISIBILITY + 136,0004 GLOBALLY +66% of which in UAE Residential units sold since 2002 + 91,0004 GLOBALLY + 58,000+ in UAE Residential units delivered since 2002 c. 1.7 BN SQ. FT. Land bank in key countries AED 53.2 BN GLOBALLY AED 41.3 BN in UAE Robust revenue backlog from property sales 36% RECURRING REVENUES (53% of EBITDA) Mall and retail centers with GLA of over 12 Mn sq. ft. globally5 (9.7 Mn sq. ft. in Dubai) 37 Hotels with 8,135 keys (29 hotels are in pipeline with more than 2/3rd under management contract) 5 EMAAR 1) Source: Bloomberg, 2) by Forbes in 2021, 3) As on 31st Dec 2022, 4) Numbers are inclusive of JVS 5) Includes Emaar Square Mall in Turkey with 1.6m sq. ft. GLA 6) SWF ranking#7Diversified Real Estate Play In UAE & International Markets Resilient Business Model With Strong Growth Potential Total Revenues In AED Mn 9% 27,897 25,536 24,925 23,699 18,417 15,707 17,715 12,047 15,427 12,902 15,085 8,856 6,899 9,914 5,095 Significant growth delivered in difficult market environment 4,221 Good business mix with strong upside potential in development business, supported by steadily growing recurring businesses Significant value to be un-locked in the international operations (large land-bank) Hospitality & Entertainment businesses looking to expand outside UAE, in other GCC markets 3,075 3,724 3,381 2,338 3,075 8,657 5,848 6,180 7,034 7,073 7,095 4,726 2016 2017 2018 2019 2020 1 2021 2022 International Development: 10% CAGR UAE Development: 10% CAGR Malls, Hospitality, Entertainment & Others (Recurring Revenues): 7% CAGR 1) Business performance were impacted due to Covid-19 pandemic. 6 | EMAAR Note: During the year management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied as per IAS 28 for such hospitality entity retrospectively and comparative numbers have been restated.#8Strong Balance Sheet Solid Credit Profile with very Comfortable Net Debt-to-Equity and Debt Coverage AED Million 2022 Debt 14,498 Cash 18,289 Net Debt (3,791) Equity 75,426 Total Assets 132,364 1,457 Key Ratios 2022 Debt/Equity 0.2 2023 Debt/ Total Assets 0.1 Net Debt/ EBITDA (0.4) EBITDA / Interest 12.2* Credit Rating BBB- / Baa3 (With Stable Outlook) * Excluding finance cost related to discounting/unwinding of long-term payments & leases 7 | EMAAR Comfortable Debt Maturity Profile - Dec 2022 AED Million 3,219 2,942 1,804 2024 2025 5,077 2026 2027 & Beyond Emaar Development & International Emaar Malls Sukuk & International Emaar Development, Emaar Properties & International Emaar Properties Sukuk 3 & International Emaar Properties Sukuk 4, 5 & International Note: Majority short/medium term working capital type facilities are rolled over on annual basis or on the respective facility expiry dates#9Emaar In "The Value Zone" Emaar Properties is Trading at Significant Discount to its NAV despite Superior Financial Metrics ■Market Cap (AED Bn) 57% -46% -26% -65% 52.0 Premium (Discount) to BV 51.2 ▲ Premium / (Discount) to NAV 2 2014 8 | EMAAR 1) Market valuation based on share price as at 6th March 2023; 2) NAV as of 31st December 2022 20221#10AED Bn Sum of The Parts Valuation Analysis Emaar's market cap¹ AED 51 Bn 51.2 Emaar Properties 9 | EMAAR 17.7 Emaar's share of Listed companies AED 22 Bn 1.9 1.9 0.6 Emaar Dev. Emaar MISR EEC Amlak 1) Based on share prices as of 6th March 2023 EMAAR Current share price implies significant discount to Emaar's unlisted businesses 29.1#11Expanding Footprint in UAE & International Markets#12Developer of Iconic Master Plans Transforming Dubai... Downtown Dubai 2005 ✓ 500-acre Flagship Mega-Development Today ✓ One of the Most Visited Destinations In The World ✓ Includes World's Tallest Building & World's Largest Mall Dubai Marina 2003 Today Largest Man-Made Marina¹ (3.5 sq.km.) development of its kind Total development area of 66 million sq. ft. ✓ Includes c.0.4 mn sq. ft. Dubai Marina Mall 11 | EMAAR 1) ArabianBusiness.com, 3 June 2015, "Dubai Marina, the region's largest marina development of its kind"#13Having Stood Multiple Tests of Time Emaar's Unique Proposition of Integrated Masterplans and Superior Quality helped to Deliver Consistent Performance in UAE Emaar Development Sales ¹ (AED Bn) 18.0 14.4 14.2 14.8 6.3 30.7 27.4 2016 2017 2018 2019 2020³ 2021 2022 Sales Trend (Units) 7,437 7,987 6,502 4,657 Revenues2 (AED Bn) 9,935 7,316 8.9 6.9 2,305 15.4 15.6 12.7 11.5 9.8 Displayed strong sales traction Significant long-term value creation through Integrated Master Developments centered around Iconic Assets Strong customer trust and brand loyalty Highest ever property sales of c. AED 30.7 Bn in FY 2022 Acquisition of Dubai Creek Harbour, offering future profit potential in a highly desired area within Dubai 2016 2017 2018 2019 2020 2021 2022 12 EMAAR 2016 2017 2018 2019 2020 2021 2022 1) Sales are of UAE Development businesses and including JVs; 2) Revenue as reported by Emaar Development; 3) Business performance were impacted due to Covid-19 pandemic#14Renowned For Its Iconic Retail Assets... 13 | EMAAR The Dubai Mall - Most Visited Mall in the World World renowned shopping & entertainment destination 4.3 Mn sq. ft. GLA¹ (incl. Fashion Avenue Expansion) 99% Occupancy¹ 1,200+ stores with leading retailers and marquee global brands Robust footfall in 2022 and achieved pre Covid- 19 pandemic levels 1) As at 31 December 2022#15...Delivering Robust Growth Emaar Malls Management Delivered Consistent Growth over 2012 to 2022 Robust Growth in Footfalls... 6.1 6.0 6.1 6.1 6.2 5.2 5.3 5.4 5.4 5.4 5.4 Preferred gateway to Dubai's consumerism for aspiring retailers and brands Urban lifestyle destination and unique retail experience Benefits from mature catchment created by the integrated master community developments by Emaar Emaar's malls are top choice for retailers, due to our well-established presence, superior positioning and strong footfall Opened Dubai Hills Mall¹, an Iconic lifestyle destination, with ~1.8 Mn Sq.Ft. GLA in Feb 2022 4% 89 104 114 124 125 130 136 136 137 101 76 | | || 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ■Main Units GLA - Mn Sq.Ft Footfalls - Mn Along with Steady Increase in Rent psf. (AED) 5% 381 419 460 505 539 600 561 579 571 606 379 1) A JV with Meraas 14 | EMAAR 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Note: CAGR for footfall and rent increase is calculated from 2012-2022 for assets owned by Emaar Mall Management#16...Complemented By Immersive Entertainment Avenues Major Tourist Attractions driving Footfalls at The Dubai Mall Entertainment & Commercial Leasing: Robust Growth & Superior Margins In AED Mn ✓ At The Top, world's highest observation desk Dubai Aquarium & Underwater Zoo featuring one of the world's largest acrylic viewing panels Penguinarium, an all immersive encounter with Gentoo Penguin KidZania, children's edutainment centre Reel Cinemas, UAE's largest 26-screen megaplex with different experiences Play DXB, mix of VR attractions and Arcade zone park spread over 75,000 sq. ft. Dubai Ice Rink, Olympic-sized ice-skating & events venue 15 EMAAR 62.6% 66.6% 67.7% 68.6% 58.7% 58.9% 59.4% 60.4% 59.1% 46.7% 1,389 1,408 1,587 1,195 1,291 1,304 991 899 914 649 2013 2014 2015 IIII 2016 2017 2018 2019 2020 2021 2022 Revenues --EBITDA Margin % Sky Views Observatory and Edge Walk, with glass floor and slide. Edge Walk is Dubai's highest full circle hands-free walk on a ledge encircling the Address Sky View tower ✓ "Storm Coaster” in Dubai Hills Mall, entered into Guinness World Records as "Fastest Vertical Launch Rollercoaster". Launched Adventure Park at Dubai Hills Mall targeting dense residential communities around ✓ Focussing on expansion outside UAE, primarily in Saudi Arabia and Bahrain, to operate exceptional entertainment experiences Note: 2020 & 2021 performance was impacted due to various restrictions imposed by authorities to contain Covid-19 pandemic.#17Hospitality Assets Deliver Steady Performance Emaar Hotels: Strong Rebound in Performance during Challenging Market Environment Able to maintain healthy EBITDA margin with operating costs under control Hospitality sector was the key beneficiary of Expo (Emaar is the Hospitality partner for Expo) ✓ Adopted selective asset-light strategy for growth1 ✓ Healthy pipeline of 29 hotels under development, more than 2/3rd of which are under management contracts Established brands - Address Hotels & Resorts, Palace Hotels & Resorts, Vida Hotels & Resorts and Rove² Hotels ADRs and Occupancy are higher than the average of Dubai's market Hospitality Business: Resilient & Profitable In AED Mn 49.9% 44.6% 39.2% 37.8% 30.8% 30.2% 24.2% 25.5% 24.8% 22.3% 1,681 1,677 1,515 1,405 1,390 1,391 1,119 669 1,559 1,250 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Revenues EBITDA Margin % 1) Sold 7 hotel assets since 2019 while continuing to operate such hotels under long-term Hotel Management Agreement; 2) A JV with Meraas 16 | EMAAR#18Replicating Our Success In International Markets Leverage Emaar's Strength And Unlock the Land Bank Potential in Key International Markets Development c. 45,600 units sold & c. 34,000 units delivered since 2002 1.32 Bn sq. ft. land bank in key countries Major Projects: ✓ Egypt: Uptown Cairo - 'City within a city', Marassi - tourist resort with 7 distinct lifestyle districts ✓ Turkey: Emaar Square -mix-use development in the heart of Istanbul, Tuscan Valley - integrated community ✓ Pakistan: Karachi - integrated masterplan with premium residential ✓ India: world class living spaces in Gurugram, Delhi, Mohali, Jaipur, Indore etc. Retail ✓ Own & operate iconic retail assets ✓ Will be part of Emaar's master developments ✓ Owns & operates one of - the largest mall in Turkey Emaar Square Mall opened in 2017 with 1.6 mn sq. ft. of GLA ✓ Emaar Square is mixed development outdoor shopping experience at Uptown Cairo ✓ Explore retail asset management contracts in GCC markets Entertainment Launch entertainment avenues complementing our retail assets Offer unique leisure attractions at Emaar Square Mall in Turkey - Discovery Centre, Aquarium & Underwater Zoo, Family Ent. Centre, Ice Skating Rink, Mega Movie Theatre ✓ Expansion outside UAE, primarily in Saudi Arabia and Bahrain Hospitality Adopt an asset-light strategy to expand in key markets Leverage established brands - Address Hotels & Resorts, Vida Hotels & Resorts and Rove Hotels ✓ Currently, own and manage Al Alamein, Hotel Blanca, Address Marasi, Verdi Hub in Marassi, Egypt, Address Hotel in Turkey and Vida Marasi in Bahrain. 17 | EMAAR#19Business Strategy & Outlook#20Top 3 Priorities 1 2 FO 22 3 Maintain Leadership Position in Our Markets Focus on Execution & Cash Flow Generation Focus on Maximising Shareholder Returns#21• UAE Development Strategy: Consolidate and Prepare for the Next Growth Phase Leverage the Strength of Master Developments Leverage on the existing master community developments to launch new projects Provide 'City within a city' experience to discerning customers Product Innovations • Unique product offering for Millennials . • Optimised unit size with larger community facilities Marketing to International Customers Targeting international customers Business development in • China, India, Saudi Arabia & other countries Wider price-product range . Seen strong response from European and Russian customers • • Well-planned Execution & Delivery Timely completion of projects under development Healthy cash flow generation Development Through JV Return on Capital Accretive - lower capital (minimum immediate cash outlay for land purchase) Earn development profit share and project management fees Conserved cash to be used for judicious purchase of prime land • Access to premium land through JV with GRES¹ • Preferred Development Partner for GRES • • Expansion and penetration of Emaar Brand in existing and new markets over longer term • 1) Government Related Entities 20 EMAAR#22• UAE Retail Strategy: Multi-format Growth Strategy Leverage Superior Asset Mix Offer diverse retailing experience - super-regional malls, regional malls, specialty retail, community retail centers Constant innovations and improvements to deliver superior experiences Well-entrenched in existing catchments & categories Increase competitiveness and enhance customer convenience • . • Robust Retail Space Growth Well-planned extensions at The Dubai Mall to enhance customer experience Leverage Emaar master developments to expand community retail centres Grow our portfolio in local market with timely completion of upcoming retail assets Explore to acquire and/or operate third-party malls in Dubai & GCC region 21 EMAAR Quality & Profitability of Retail Assets Diversify lease payment risk across a significant number of tenants Maintain flexible lease terms with active tenant management • Maintain high margins and strong collection rates . Offer unique entertainment attractions#23• UAE Retail Strategy: Adopt Low-Risk Model For Future Expansions Operate As Pure Rental Income Play Projects under Emaar Pure Rental Income Play • Focus on rental income growth and cash flow generation Project Name GLA ('000 sq.ft.) Expected Opening Minimal Development Risk TDM Boulevard Expansion C. 110 H1 2023 • Execute extensions & renovations at existing retail assets • Selectively add new community centres in Emaar master developments Projects under JV New Expansions Project Name GLA ('000 sq.ft.) Expected Opening • New retail assets to be developed by Emaar (independently or through Joint Ventures) Dubai Expo Mall1 c. 385 Q1 2024 • Acquire and/or operate third-party malls in Dubai & GCC region 22 EMAAR 1) Being developed under joint ventures by Emaar Properties with a JV partner#24Sustainability Environment, Social & Governance enll EMAAR#25Enhancing Focus on Circular Economy & ESG... Engaging the future by integrating ESG criteria into all decisions and transforming assets to improve their environmental and social impacts. 1 ENVIRONMENT ✓ Circular Economy, Sustainable Operations, Health & Wellness 2 SOCIETY ✓ Diversity & Inclusion, Philanthropy and Customer Wellbeing & Satisfaction 3 GOVERNANCE & ETHICS ✓ Business Ethics, Anti-Corruption and Whistleblower Policy Actively enhance ESG focus to be a highly responsible and sustainable business and to join commitment initiatives that align with UAE's Net Zero 2050 strategic initiative 24 | EMAAR#26Enhancing Focus on ESG: Environment focus Working on becoming a leader of sustainability in the real estate industry, aligning ourselves with UN Sustainable Development Goals (SDGs) CLEAN WATER Implementation of High- Volume Aerator for lakes at communities ■ Implementation of Wastewater Recycling at Dubai Aquarium & Under Water Zoo exhibits ■ Installation of Low-volume Aerators for the showerheads in swimming pool amenities at communities Implementation of Leak Detection System with remote monitoring for swimming pool pump rooms at Emirate Living Recycle of swimming pool backwash water to reuse for washing tasks at Arabian Ranches & Emirates Living AFFORDABLE CLEAN ENERGY Raise in the overall installed solar capacity in Springs Souk, Ranches Souk, Gold & Diamond Park Community Retail Centers to 3.16 MW. Overall Solar energy generated in 2022 was 4.95 MWh ■ Retrofit with LED lights upgrades at various assets with motion sensors for energy conservation Implementation of Compressor Downsizing for energy optimization at Dubai Fountain Downsizing of motors in Downtown community for energy optimization INDUSTRY, INNOVATION AND INFRASTRUCTURE Deployment of Autonomous boat skimmer for surface cleaning and live chemical parameters sampling in Dubai Fountain Lake Execution of Demand Controlled Ventilation in HVAC with the help of VFDs (variable frequency drives) and CO2 sensors ■Real Time monitoring of Lake water parameters through loT sensors ■Use of Waterless Floor Cleaner for Emaar square, Downtown communities Deployment of Remote Operated Boat for Enzyme Dozing across Lakes RESPONSIBLE CONSUMPTION AND PRODUCTION Established a symbiotic relationship with a local start-up company to produce bio-degradable cutlery from Dry fronds of palm trees collected as part of the seasonal maintenance activity ■ Circular Economy concept: Implemented practices across Emaar, presented to the Dubai Supreme Council of Energy (DSCE) Circular Economy Committee in 2022 " Recycling awareness campaign across communities and free of charge collection of green waste from horizontal communities CLIMATE ACTION Achieved WELL Health & Safety certification for 218 buildings of the community portfolio ■ Re-certification of ISO 14001-Environmental Management System and the maintenance of Energy Management System Standard - ISO 50001 Establishing a strategy to monitor & report Scope 2 carbon emissions 25 | EMAAR#272 Enhancing Focus on ESG: Social focus Committed to working closely with the community, uphold the highest standards of living, our people are a driving force behind our success Catering to society and putting Healthcare & Safety first Dedicated over US$10 Mn for the Economically Weaker Section (EWS) housing projects in India since 2017 Donated EGP 185M for Haya Karima: Alleviating the burden of citizens in communities in need in the countryside and slums in urban areas. Also contributed EGP 80M to Tahya Misr in 2022, a fund working towards poverty alleviation, encouraging private-public partnership for sustainable development, meeting the needs of financially disadvantaged etc. in Egypt Providing laptops and tablets to Emirates Red Crescent Education Initiative to support the children of low-income families in the UAE Awareness on Breast cancer, Down-Syndrome and Autism (in collaboration with Dubai Autism center). Supporting Earth Hour across all of our social channels. Supporting the Dubai Can initiative by raising awareness through all of our social networks and introducing initiatives to limit plastic usage in favor of more sustainable alternatives. ■ DIVERSITY & INCLUSION: A diverse and inclusive culture makes us better in every way Emaar employs 6,900+ employees: 25% Female and 75% Male with over 110 nationalities Board of Directors takes active involvement in Emaar Properties' workforce retention and engagement. Our employees contribute to a culture that drives our success. 1 Board Member and 2 Top Leadership Team are women Removed all job titles within Emaar to focus on Talent, not Title 26 | EMAAR#283 Enhancing Focus on ESG: Governance focus Strong corporate governance ensures accountability and the highest level of integrity in management practices across our organisation NO GIFT POLICY Code of Conduct Guidelines are issued to employees on non-acceptance of gifts offered by existing or potential vendors/ contractors/ customers or non- associates having relationship with the Company CODE OF CONDUCT Emaar developed Code of Conduct to maintaining the highest standards of professionalism, honesty, integrity and fairness. It outlines organizational values, principles and correlates them with expected standards of professional conduct by associates, vendors and contractors ANTI BRIBERY AND ANTI CORRUPTION POLICY Our Anti-Bribery and Corruption policies prohibits employees from offering, promising, giving or receiving anything of value to improperly influence a decision or to gain an improper or unfair advantage in promoting, enhancing, obtaining or retaining business. This policy extends to our Board and management team as well as all our employees راد WHISTLEBLOWER POLICY Emaar have established comprehensive Corporate Anti- Fraud and Whistleblower Policy to voice concerns related to unethical or improper practice. Emaar Group Audit Committee, as mandated by the Board of Directors, is responsible for the administration, revision, interpretation and application of this Policy. CYBER RISK & THREAT MANAGEMENT Emaar adheres to the industry best practices of identifying and managing the risk that can compromise systems, steal data and other valuable company information, and damage an enterprise's reputation. Before hosting any product, services, and sensitive data in a computing environment, we conduct an information security assessment and implement processes and adequate controls DATA MANAGEMENT Emaar use several sources of data to gain measure performance and obtain more insights from financial, operational, customer and people perspectives. We adhere to the values and principles where personal data protection and human rights are based. This is about genuine transparency and honesty as far as data management is concerned. 27 EMAAR#29Q4 & FY 2022 Results Update#30Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality FY 2022 Key Highlights Strong Property Sales at AED 35.1 Bn1 (4% higher than 2021) Revenues AED 24.9 Bn EBITDA AED 9.8 Bn (18% higher than 2021) Net Profit (Attributable to the owners of the Company) AED 6.8 Bn (80% higher than 2021) UAE Property Sales AED 30.8 Bn1 (12% higher than 2021) Revenue Backlog AED 53.2 Bn1 from property sales, to be recognized in coming years 36% Recurring Revenues 53% Recurring EBITDA Dubai Hills Mall Opened in Feb-22, an iconic lifestyle destination with ~1.8Mn GLA Dubai Creek Harbour Acquired in December 2022 29 EMAAR 1) Numbers are inclusive of JVs#31Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Key Highlights AED Million Q4 2022 Q4 2021 (Restated) % Change FY 2022 FY 2021 (Restated) % Change Group Property Sales¹ Revenue Gross Profit 8,174 7,616 7% 35,069 33,762 4% 6,025 6,764 (11%) 24,926 27,896 (11%) 3,023 3,654 (17%) 12,587 11,592 9% GP Margin (%) 50.2% 54.0% 50% 42% EBITDA 2,010 2,016 (0%) 9,816 8,309 18% EBITDA Margin (%) 33.4% 29.8% 39% 30% Net Profit 1,042 1,018 2% 6,832 3,801 80% NP Margin (%) 17.3% 15.1% 27% 14% EPS (AED/Share) 0.13 0.14 (7%) 0.83 0.52 60% Total Equity 75,427 67,742 11% 75,427 67,742 11% Cash 18,289 8,539 114% 18,289 8,539 114% Debt 14,498 17,872 (19%) 14,498 17,872 (19%) Net Debt (3,791) 9,333 (141%) (3,791) 9,333 (141%) 1) Numbers are inclusive of JVs 30 | EMAAR Note: During the year management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied for such hospitality entity as per IAS 28, retrospectively and comparative numbers have been restated.#32Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Segment Analysis Segment Wise Revenues (AED Mn) 31 | EMAAR -11% Revenue Share % EBITDA Share % 27,896 924 9% 6% 15% 1,250 + 137% 24,925 2,195 7% 4,988 41% +25% 1,559 22% AED 24,925 Mn 46% AED 9,816 Mn 5,132 + 8% 5,409 29% -18% 4,221 17% 7% -26% 15,602 11,541 FY 2021 UAE Development International Development FY 2022 Emaar Hospitality Entertainment, Leasing & Others Emaar Malls Management Contribution From Recurring Business Revenue: 36% EBITDA: 53%#33Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Historical Trend Revenues CAGR 10% Gross Profit CAGR 9% 12,836 27,896 25,535 23,699 24,926 11,503 18,417 17,716 15,084 13,098 قاتت 9,237 7,957 7,035 6,463 In AED Mn 12,587 11,592 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022 EBITDA CAGR 9% 7,037 5,250 5,533 10,797 9,393 5,242 Net Profit (After Minority Interest) CAGR 9% 9,816 9,245 2015 2016 2017 2018 2019 2020 2021 2022 32 | EMAAR 6,143 6,078 4,955 4,268 3,811 3,801 2,109 6,832 2015 2016 2017 2018 2019 2020 2021 2022 Note: During the year management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied for such hospitality entity as per IAS 28, retrospectively and comparative numbers have been restated accordingly.#34Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Balance Sheet & Cash Flow Overview Balance Sheet Overview Total: AED 132,364 Mn Bank Balances & Cash 14% 16% Trade & Other Payables Trade & Other 15% Advances from Customers 21% Receivables Interest Bearing Loans & 4% Borrowings 7% Sukuk 2% Other Liabilities Development Properties 32% Cash Flow Overview 7,464 18,942 In AED Mn (2,532) (5,970) 17,545 (358) Loans & Investments 5% 52% Shareholder's Equity in Associates & JVs Investment Properties Property, Plant & 17% Dec-21 Cash & Cash Equivalents Operating CF Investing CF Financing CF FX Difference Dec-22 Cash & Cash Equipment Equivalents Investment in securities 7% Others -2%- 2% 5% Non-Controlling Interests Assets Liabilities & Equity Including short term investment in the Treasury Bill of AED 1.3Bn, the cash & cash equivalent balance of Emaar is AED 18.8Bn 33 | EMAAR#35Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Emaar Development - Key Highlights1 AED Million FY 2022 FY 2021 % Change Property Sales 30,713 27,440 12% Revenue 11,541 15,602 (26%) Gross Profit 5,184 5,735 (10%) Margin (%) 44.9% 36.8% EBITDA 4,224 4,389 (4%) Margin (%) 36.6% 28.1% Net Profit 3,808 3,244 17% Margin (%) 33.0% 20.8% Less than 1% Default Rate, of Sales Value 6,100 + Units Delivered4 27,000 + Units Under Construction4 34 | EMAAR AED 41.3 Bn Revenue Backlog³ To be recognized over next 3-4 years FY 2022 Revenue Breakup 72% 16% AED 11% 11,541 M Apartment Villas/Townhouses Plots of land, commercial units and development services ~347 Mn SQFT Land Bank 2&4 AED 14.4 Bn Cash Balance4 1) Numbers excluding inter-company transactions; 2) including the land bank of Emaar Properties PJSC as at 31 December 2022; 3) Sales value of properties sold but not yet recognised as revenue under IFRS, including 100% of Joint Ventures 4) including Joint Ventures#36Consolidated Results UAE Development International Development UAE Development - Current Project Status 100% Owned Developments Emaar Malls Emaar Hospitality Consolidated JV Equity Accounted JV Others Ras Al Khaimah Dubai Downtown Dubai Arabian Ranches 4 Dubai Marina 6 Emirates Living 6 Emaar Beachfront The Valley Dubai Creek Rashid Yachts & Emaar (100% owned land 7 Lusaily Hills South bank); Zabeel Total Marina** (50%) (50%) (70%) Square (JV with 50% share) ³ Units Under Development * 7,831 2,636 799 277 3,267 1,518 5,918 In Planning Stage 2,569 673 1,655 In Planning Stage 27,143 Area Under Development (Mn sqf) 9.2 5.3 0.9 0.3 3.5 2.7 5.7 In Planning Stage 4.4 0.7 2.4 In Planning Stage 35.1 Project Value (AED Bn) 25.9 6.8 2.1 0.8 11.9 3.0 12.0 In Planning Stage 10.0 1.5 2.2 In Planning Stage 76.3 % Units Sold 100% 100% 100% 96% 100% 99% 96% In Planning Stage 98% 62% 98% In Planning Stage 98% % Value Sold 99% 100% 99% 96% 99% 99% 94% In Planning Stage 97% 61% 96% In Planning Stage 97% % Collected of sold units 46% 36% 41% 18% 35% 24% 33% In Planning Stage 29% 14% 42% In Planning Stage 37% 1 Revenue Backlog 6.8 5.2 1.3 0.8 7.9 2.5 5.8 In Planning Stage 9.0 0.9 1.1 In Planning Stage 41.3 Gross Margin Achieved 2 43% 36% 47% 41% 43% 36% 40% In Planning Stage 60% 35% 33% In Planning Stage 43% Remaining GFA to be launched in future (*) Total Remaining GFA 0.4 (Mn Sqf) 43 4.3 0.0 00 0.0 5.4 42.1 97.5 143.3 40.0 10.7 29.2 3.5 376.6 Remaining GFA of Build-to-Lease (BTL) / Build-to-Operate (BTO) (Ⓡ) (Mn Sqf) 0.4 0.1 0.0 0.0 0.5 0.5 24.3 0.0 13.7 0.2 3.0 0.4 43.2 Remaining GFA of Build-to-Sale 0.0 4.2 0.0 0.0 4.9 41.6 73.2 143.3 26.3 10.6 26.2 3.1 333.4 (BTS) (Mn Sqf) # Based on launches till 31 December 2022 1) Sales value of units sold but not yet recognised as revenue under IFRS, including 100% of joint ventures backlog as of 31 December 2022 2) Based on units sold as at 31 December 2022 of projects under development, margin is not necessarily indicative of margin at completion 3) JV numbers are based on the 100% of project under JV and not proportional to Emaar's share, while Emaar's entitlement/share of profits is 50% 4) Includes Arabian Ranches III 5) Includes 96 Mn sqf in the perimeter of Emaar Properties PJSC and 47 Mn sqf of Lusaily extension under Emaar Development PJSC. Since it is in planning stage, GFA is subject to change based on the finalized masterplan 6) Includes a project launched under the perimeter of Emaar Properties PJSC 7) Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner *Details are based on current master plan as of 31st Dec 2022 ** 'Rashid Yachts & Marina', formerly 'Mina Rashid' @BTL/ BTO are being developed by Emaar Development PJSC for and on behalf of Emaar Properties PJSC at an agreed development fee 35 EMAAR#37Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Emaar Development - Historical Trend Revenues CAGR 12% Gross Profit CAGR 12% 15,433 15,602 12,746 11,541 8,863 9,758 3,761 6,899 2,861 5,253 2,395 * 2015 2016 2017 2018 2019 2020 2021 2022 In AED Mn 6,700 5,735 5,061 5,184 3,478 * 2015 2016 2017 2018 2019 2020 2021 2022 2,700 1,657 3,244 3,808 Net Profit (after Minority Interest) 4,389 4,224 CAGR 10% 3,901 2,743 2,452 1,962 5,657 3,695 2,318 3,236 EBITDA CAGR 12% 2,353 1,918 البتاتي التتاتت 2015 2016 36 | EMAAR 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 Note: Revenue is based on incremental percentage of completion achieved on development as per IFRS 15 * 2021 2022 * 2020 numbers are impacted due to COVID-19#38Consolidated Results UAE Development International Development International Development - Key Highlights Emaar Malls Emaar Hospitality c. AED 11.8 Bn Revenue Backlog¹ To be recognized over next 3-4 years c.17% Revenue Contribution to Group Revenue in FY 2022 c. AED 4.3 Bn Booked Sales in FY 2022 9,600 + Units Under Construction International Sales - Units Released 98% C 100% 2% 16,868 1,305 90% 10% 25,982 照 100% 936 33,900 + Units Delivered since inception 45,600 + Units Sold since inception 1) Sales value of properties sold but not yet recognised as revenue under IFRS as of 31 December 2022 37 | EMAAR Total 86% 14% 669 95% 5% 3,106 93% 7% 48,866 % Sold of Units Released % Unsold of Units Released Units Released#39Consolidated Results UAE Development International Development International Development - Key Highlights Emaar Misr - Development¹ Emaar Malls Emaar Hospitality Key Highlights AED Million EGP Million • Delivered +2,100 units in FY 2022 FY 2022 FY 2021 % Change FY 2022 FY 2021 % Change . Emaar Misr's revenue backlog² from Units Delivered 2,119 1,627 30% 2,119 1,627 30% property sales is AED 9.6 Bn as of 31 December 2022 Net Sales 3,024 4,325 (30%) 15,533 18,485 (16%) Revenue 2,893 2,606 11% 14,865 11,138 33% FY 2022 Revenue Breakup EBITDA 1,586 1,080 47% 8,150 4,617 77% 21% Margin (%) 55% 41% 55% 41% Villas/Townhouses Net Profit 1,303 963 35% 6,694 4,118 63% 55% 24% Commercial & Others Apartment Margin (%) 45% 37% 45% 37% 1) 38 | EMAAR 2) Emaar Misr Positioned Itself As Local Market Leader Delivering Superior Growth Emaar Misr for Development is an EGX-listed company developing residential & commercial projects in Egypt. Exchange rates used for December 2022 is AED 0.1947 per EGP; Sales value of units sold but not yet recognised as revenue under IFRS as of 31 December 2022#40Consolidated Results UAE Development International Development Emaar Mall Management - Key Highlights Excl Namshi Emaar Malls Emaar Hospitality AED Million¹ FY 2022 FY 2021 % Change FY 2022 FY 2021 % Change Revenue 5,313 4,900 8% GLA (Mn SQFT) 2 6.8 6.8 0% Gross Profit 3,799 3,550 7% Occupancy Rate (%) 97% 92% Margin (%) 71.5% 72.4% Base Rent (AED Mn) 2,639 2,537 4% EBITDA 3,067 2,601 18% Turnover Rent (AED Mn) 201 129* Margin (%) 57.7% 53.1% Revenue (AED Mn) 3,741 3,449 8% Net Profit 2,518 1,784 41% EBITDA (AED Mn) 3,020 2,466 22% Margin (%) 47.4% 36.4% Margin (%) 81% 72% * Impacted due to rent relief during 2021 Tenant sales surpassed 2019 level Tenant sales grew by 40% compared 2019 39 | EMAAR Opened Middle East's 1st Time Out Market³ in Souk Al Bahar from April 2021 137 Mn Footfall at Emaar Mall assets (Up +35% from 101 Mn in 2021) Dubai Mall selected as the Best Service Performance Brand for the year 2022 by Dubai's Department of Economy and Tourism Maintained robust occupancy of 97% with rebound in tenant sales in a challenging market 1) Values are after inter-company adjustments and including Namshi; 2) Represent GLA owned by Emaar Mall Management; 3) In collaboration with Time Out Group PLC Note: Subsequent to the merger with Emaar Properties PJSC in November 2021 in an all-share transaction, Emaar Malls PJSC got delisted from DFM#41Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Established Portfolio with Diverse Retailing Formats... Retail Assets Total GLA Division Location & Catchment ('000 sq. ft.) Downtown Dubai The Dubai Mall Super Regional Mall 500 acre flagship mega- 4,296 development Dubai Hills Mall* 1,809 Regional Mall Dubai Marina Mall (Incl. Pier 7) 414 • Situated next to Burj Khalifa Dubai Hills Estate masterplan - over 118 Mn sq. ft. with over 2,000 villas and 20,000 apartments Dubai Marina - 1,500 acre master integrated development • • • • . . • Situated next to the Dubai Souk Al Bahar 221 Speciality Fountain and Burj Khalifa • Retail Gold & Diamond 531 Park Community Other Centres (30 centres) Integrated Retail 1,364 . Located on prime Sheikh Zayed Road Emaar's residential developments . Key Highlights World renowned shopping & entertainment destination 1,200+ stores, leading retailers, marquee global brands Major tourist attractions - At The Top, Dubai Aquarium & Underwater Zoo, KidZania, Reel Cinemas, Play DXB, Ice Rink 550+ retail outlets Part of Dubai Hills Estate masterplan with proximity to Mudon, Arabian Ranches, Emirates Living, Al Barari, Al Barsha, Al Quoz, District One, Damac Hills, Jumeirah Village Circle and Triangle 140+ outlets, high street fashion brands, aspirational boutique fashion, 6-screen Reel Cinemas, 7-storey Gourmet Tower (Pier 7) Arabesque style shopping, fine dining, entertainment experience Hosting middle east's first huge food and cultural market - Time Out Market Destination for world's finest gold & diamond jewellery & accessories Facilities and offerings for residents Neighbourhood venue for convenience shopping, dining and social interaction 40 | EMAAR * In a Joint Venture with Meraas, started operating from 17 February 2022#42Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Focus on Digitalisation for Enhanced Customer Service... THE DUBAI MALL APP 2.0 - CORE FEATURES Directory, Events and Offers Digital Initiatives taken at The Dubai Mall - ✓ Delivery Service ✓ Leveraging customer data analytics to better understand customer buying behaviour, taste and preferences Search Skywards Rewards Program Mall Map THE DUBAI MALL Indoor Mall Navigation Navigation to Mall 41 | EMAAR Personalized Push Notifications Favorites Profiling Find my car Floor-wise parking availability Easy Parking Valet parking Ride Hailing Bookings & Tickets Shopping Delivery Lost and Found Emaar Gift Card YOU SHOP. WE DELIVER. Delivery Service Call 800-DUBAIMALL or enquire at The Dubai Mall Guest Services Desk for more details THE DUBAI MALL#43Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality ...With Active Marketing Events for Better Customer Engagement Celebration THE DUBAI MALL THE DOBVI WYTT 42 | EMAAR DUBAI MA MUSIC EVAL • Emirates Skywards Miles Loyalty Program at Dubai Mall • Members 897k Spend captured since inception - AED 11.48 Bn Number of transactions since inception - 4,791k#44Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Diversified Tenant Mix & Category Mix... Diverse Retailers And Marquee Brands With Many Having Exclusive Presence At Emaar Malls 2022 Category Mix - % GLA 43 | EMAAR ■ 5.9%, Health & Beauty ■ 4.8%, Supermarket ■ 4.0%, Furnishings ■ 3.8%, Merchandise ■ 2.8%, Services 7.1%, Luxury Fashion ■ 2.3%, Electronics 0.7%, Eyecare & Opticals ■16.1%, Food & Beverage 1.5%, Jewellery 2.6%, High End Jewellery & Watches ■ 9.2%, Department Store 1.0%, Pharmacy & Nutrition ■1.1%, Books & Stationary 0.7%, Chocolatiers 8.2%, Entertainment 1.4%, Finance, Insurance & others ☐ 20.3%, Apparel & Accessories ■ 6.5%, Offices&Manufacturing#45Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Active Tenant & Space Management with Healthy Lease Renewals... Active Tenant Management Portfolio Lease Expiry Schedule¹ % GLA of main unit expiring leases Meet changing retail trends and evolving consumer needs 26% 24% 22% 20% • Offer innovative & fresh retail concepts • Tenant re-zoning & re-sizing to maximise sales productivity 8% Short lease terms (3-5 years) and significant waitlist allows flexibility in tenant management • Favourable lease terms 44 | EMAAR • 2023 2024 2025 2026 >2027 Weighted average lease expiry term of 3.3 years 1) This relates GLA owned by Emaar Mall Management#46Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality ...And Steady Rental Income Growth, High Operating Profitability Steady Rental Income 1 Robust Revenue Model Revenue Model: 3,599 3,647 3,741 Rent equals higher of base rent or turnover rent 3,447 10% 10% 12% 10% 11% 12% 12% 13% 4% 3% 5% 3% 2,192 9% 15% 3% 75% 75% 74% 71% 73% Base rent is increased at a pre-defined rate over the lease term of 3-5 years Once the turnover rent exceeds base rent, the base rent is reset at turnover rent level in the subsequent year Healthy waitlist to occupy vacant units High operating margins: 2018 • Efficient and low cost operations 2019 2020 2021 2022 . ■Net Turnover Rent ■Other Rental Income Continual improvement in operational excellence leading to healthy EBITDA margin 2 ■Base Rent Service & Other Charges 1) This relates GLA owned by Emaar Mall Management; 2) Income from specialty leasing, multimedia sales, terrace, storage, store design fit-out fees, late opening penalties, interest charges on deferred payments and certain admin charges Note: 2020 and Q1 2021 performance impacted due to Covid-19 pandemic related rent reliefs provided to tenants 45 | EMAAR#47Consolidated Results UAE Development International Development New Expansions - Strong Growth Potential Superior Positioning & Offerings Emaar Malls Emaar Hospitality MALL OF EMIRATES AL QUOZ AL BARSHA Dubai Hills Mall - Regional Shopping Mall Strong Catchment DUBAI HILLS ESTATE AL KHAIL AL BARSHA SOUTH • • • • • Outdoor high-street mall with superior design & architecture Differentiated offerings with over 550 retail outlets, wider F&B (>24% GLA), entertainment options, loyalty programs etc. Ample parking with over 7,000 spaces Seamlessly integrated with adjacent neighbourhood, future metro stations and adjoining hotels Dubai Hills Mall started operating from 17th February 2022. Lease occupancy as of 31 December 2022 is 91% • Located between Sheikh Mohammad Bin Zayed Road and Al Khail Road Part of Dubai Hills Estate masterplan spanning over 118 Mn sq. ft. with over 2,000 villas and 20,000 apartments Proximity to other stablished and upcoming residential communities - Arabian Ranches, Mudon, Mohammed Bin Rashid City District One, Town Square, Mira, Emirates Living, Al Barari, Al Barsha, Al Quoz, etc. 46 | EMAAR#48Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Upcoming Expansion - Strong Growth Potential DONALDS HARDNESS IMEOUT GINGE YOHO SUSHI Superior Positioning & Offerings Abu Dhabi International --50 mins Airport (AUH) DUBAI SOUTH По ROAD SAYSETS k 15 mins AVVATION PASSENGER Jebel Al Sheikh Zayed R The Villages ALMATION INTL PORT RESENT THE PULSE HUMANITARIAN DISTRICT EMATES FLIGHT ACAGAY ERT-EMIRATES ROAD Dubai Expo Mall - Regional Shopping Mall Strong Catchment • Located close to Expo 2020 site • Close proximity to Al Maktoum International Airport • Over 190 retail & F&B outlets • 1,000+ parking spaces • Excellent access & infrastructure to support the high volume of visitors • 47 | EMAAR Part of Emaar South masterplan, over 5,000 residential units in the immediate vicinity • 400,000 residences within 8km distance from the mall • Located near major highways - Sheikh Mohammad Bin Zayed Road, Expo Road, Jebel Ali Road; and Dubai Metro route 2020#49Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Emaar Mall Management (Excl. Namshi) - Historical Trend Rental Income 3,599 3,647 3,227 3,323 2,992 2,192 3,741 3,449 EBITDA In AED Mn 2,934 2,952 3,020 2,676 2,447 2,615 2,250 1,407 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022 48 | EMAAR Net Profit 2,281 2,334 2,359 2,092 1,874 1,907 1,656 2015 2016 2017 2018 2019 765 2020 2021 2022 Note: 2020 and Q1 2021 performance impacted due to Covid-19 pandemic related rent reliefs provided to tenants#50Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Emaar Hospitality - Key Highlights FY 2022 FY 2021 % Change FY 2022 Revenue Breakup Occupancy Rate (%)* 69% 66% 3% RevPar (AED)¹ 631 494 28% Room Revenue (AED Mn) 589 412 43% 35% 38% Room Revenue F&B & Other Revenue (AED Mn) 970 824 18% AED 1,559Mn Total Revenue (AED Mn) 1,559 1235 26% F&B Revenue Others EBITDA (AED Mn) 778 573 36% Margin (%) 50% 46% 7% 27% * Occupancy is calculated only for the operational period for hotels in UAE ADR and Occupancy Market leading Address Downtown Hygiene & Safety standards Higher than market average Endorsed by Dubai Tourism Featured in the Dubai Tourism promotional Emaar Hospitality Resilient, Outperforming the Broader Hospitality Market in UAE 1) During the year 2021 management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied for such hospitality entity as per IAS 28, retrospectively, and comparative numbers have been restated. 49 | EMAAR video Al Alamein Hotel Rated 2021 Travelers' Choice Best of the Best as Per Trip Advisor#51Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Emaar Hospitality - Asset Performance Address Boulevard¹ The Palace Downtown Address Dubai Mall¹ Address Downtown FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 FY 2021 Available Room Nights Occupancy (% )* 71,540 71,540 88,330 88,330 89,060 89,060 80,300 80,300 73% 62% 63% 62% 75% 65% 70% 64% ADR (AED) 1,931 1,717 1,961 1,624 2,039 1,648 2,650 2,311 RevPar (AED) 1,409 1,070 1,244 1,007 1,533 1,078 1,851 1,481 Room Revenue (AED Thousands) 100,834 76,545 109,887 88,927 136,548 96,013 148,610 118,929 Address Dubai Marina Manzil Downtown¹ Vida Downtown¹ FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 FY 2021 FY 2022 Address Sky Views1 FY 2021 Available Room Nights 73,000 73,000 71,905 71,905 56,940 56,940 61,685 61,685 Occupancy (% )* 77% 65% 72% 57% 73% 59% 72% 69% ADR (AED) 1,282 1,083 852 729 875 766 2,182 1,836 RevPar (AED) 991 707 612 416 639 452 1,565 1,274 Room Revenue (AED Thousands) 72,321 51,582 43,979 29,901 36,392 25,764 96,516 78,556 * Occupancy is calculated only for the operational period 1) These hotels have been sold, and are now being operated by Emaar under long term Hotel Management Agreement 50 | EMAAR#52Annexure#53Divisions Overview EMAAR . UAE Development Leading master plan developer in Dubai ⚫ JVs with GRES • • Over 58,000 residential units delivered since 2002 Projects under construction substantially sold (~98%) ⚫c. 347 Mn sq. ft. of Land Bank in the UAE • UAE build-to-sale business is led by Emaar Development PJSC, listed on DFM since November 2017 International Operations • Active in 10 targeted high growth countries • 33,900+ residential units delivered since 2006 • Achieved overall sales level of 93% of units released • • 1.32 Bn sq. ft. of Land Bank in key countries Emaar Misr is listed on the Egyptian Exchange since July 2015 Operates Emaar Square Mall at Turkey with 1.6 Mn sq. ft. GLA . Malls* • Owner and operator of one of the most visited mall in the world, "Dubai Mall" with annual footfall of over 80Mn • Portfolio of over 9.7 Mn sq. ft. of GLA in retail properties in Dubai (~6.8Mn sq. ft. GLA is owned by Emaar Mall Management) Opened Dubai Hills Mall in Feb 2022, an Iconic lifestyle destination, with +1.8 Mn sq. ft. GLA. . • Hospitality Hotel owner and operator (37 hotels with 8,100 + keys, includes owned as well as managed assets) The Address, Vida, Armani and Manzil brands. Upscale affordable segment under Rove Hotels (JV with Meraas) • Marked historic milestone of over 60 hotel projects in its portfolio (includes both in operation and under development hotels) 52 | EMAAR *After merger with Emaar Properties PJSC in November 2021 in all share transaction, Emaar Malls PJSC got delisted from DFM. • . Entertainment & Leasing Provider of premium entertainment and manager of leisure assets Operator of the Dubai Aquarium, Underwater Zoo, Reel Cinemas, KidZania, Play DXB, Dubai Ice Rink, At The Top, Storm Coaster and Sky Views Observatory. • Owner and operator of Dubai's iconic cultural destination "Dubai Opera" • Portfolio of over 2.4 Mn sq. ft. of GLA in commercial properties in Dubai#54UAE Development - Projects Overview Downtown Dubai All under-construction projects and inventory Arabian Ranches Expansion of the current Arabian Ranches community adjacent to a golf course and in close proximity to the Dubai Polo & Equestrian Club to create over 1,400 additional units Dubai Marina Two waterfront residential/commercial towers, near to the newly-developed Vida serviced apartments tower Wholly-owned projects Emirates Living Green-focused development featuring two low-rise apartment buildings that overlook the Emirates Golf Club and a two-tower mixed- use development Emaar Beachfront An exclusive residential community within the new maritime epicentre of the UAE, Dubai Harbour. The development represents a unique blend of cosmopolitan living in a prime location and a serene seaside lifestyle The Valley Garden A gated community located on Al Ain road near the Outlet Mall. The project is aimed at providing a serene and safe sanctuary to families amid world class amenities and lush green parks, play area for kids and many other features Dubai Creek Harbour* Iconic mixed-use waterfront project situated on the banks of the historic Dubai Creek Land bank (100% owned) THE VALLEY Al Marjan - Ras Al Khaimah A project of c.1mn sqft of land located at the top of Al Marjan Island ideal to build 5 star hotel and service apartments Lusaily A contiguous land parcel of 95.5mn sqft (including Lusaily extension) located between Dubai Investment Park and Jumeirah Golf Estates in Dubai, ideal for residential developments 53 | EMAAR Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner#55UAE Development - Projects Overview 100% Consolidated JV Dubai Hills Estate Rashid Yachts & Marina* Emaar South JVs with 50% share Zabeel Square Joint Venture between Emaar and Meraas Holding to create a mixed- use development with a series of unique neighbourhoods set around an 18-hole championship golf course Joint Venture between Emaar and Mina Rashid Properties LLC to develop Mina Rashid land into a mixed-use community as per the master plan. It will be known as world's new sailing destination Joint Venture between Emaar and Dubai Aviation City Corporation that is part of 145 sqkm smart city set to become a pivotal hub in the global economy, located within Emirates' flagship urban project, Dubai South Joint venture between Emaar and Meraas to create a mixed-use development near Zabeel Park, Dubai 54 | EMAAR * 'Rashid Yachts & Marina', formerly 'Mina Rashid' Zabeel Square#56UAE Development - Projects Under Development (100% Owned) % Remaining Collections of Sold Project Value Project (100% Owned) Units (AED Mn) (1) Downtown Dubai Forte 7,831 25,942 Area (SQF) 9,169,072 % Collected of Launch Period % Unit Sold % Value Sold sold value % Completion Dec-22 (3) % Gross Margin Total Dec-22(2) Value Till Post Handover Handover 100% 99% 46% 43% 54% 35% 19% 918 2,622 1,063,647 Apr-Sep-15 100% 100% 52% 97% 35% 48% 25% 23% Address Opera 866 3,812 1,103,756 Dec-15/ Mar-16 100% 100% 59% 96% 44% 41% 26% 15% Il Primo 119 2,679 701,836 Jun-16 100% 100% 43% 93% 43% 57% 16% 41% Act One Act Two 778 2,124 820,243 Aug-16 99% 99% 44% 100% 42% 56% 20% 36% Downtown Views 2 1,509 3,560 1,613,816 Jan-Apr-17 100% 100% 52% 100% 36% 48% 22% 26% Vida Dubai Mall 620 1,652 606,860 May-Jul-17 100% 100% 61% 79% 42% 39% 25% 14% Burj Royale # Grande Burj Crown 602 1,045 492,846 Jan-18 100% 100% 51% 100% 54% 49% 44% 5% 882 2,846 958,989 May-18 100% 100% 46% 84% 43% 54% 36% 18% 427 825 385,518 Jan-20 100% 100% 45% 84% 52% 55% 36% 19% St. Regis Residences 1,075 3,864 1,168,447 Feb-22 100% 100% 28% 53% 72% 72% 0% The Residence BK* 35 914 253,114 Nov-22 77% 79% 17% 17% 83% 83% 0% Dubai Marina 799 2,141 868,651 100% 99% 41% 47% 59% 57% 2% Vida Residence at Dubai Marina 362 836 411,400 Mar-17 99% 99% 74% 100% 27% 26% 20% 6% Marina Shores* 437 1,304 457,251 Jul-22 100% 100% 20% 60% 80% 80% 0% Arabian Ranches III 2,636 6,802 5,266,957 100% 100% 36% 36% 64% 46% 18% Joy 486 768 740,435 Mar-19 100% 100% 53% 100% 33% 47% 8% 39% Spring 154 241 232,332 May-19 100% 100% 54% 100% 30% 46% 16% 30% Ruba 430 803 693,852 Oct-19 100% 100% 41% 88% 30% 59% 21% 38% Caya 247 1,091 756,918 May-21 100% 100% 39% 17% 29% 61% 32% 29% Bliss 332 670 529,060 May-21 100% 100% 39% 22% 44% 61% 31% 30% June 2 June Elie Saab Elie Saab II Bliss 2 Raya 35 126 96,699 Oct-21 100% 100% 37% 12% 36% 63% 48% 15% 183 653 508,903 Oct-21 100% 100% 32% 2% 36% 68% 62% 6% 129 659 436,715 Nov-21 100% 100% 29% 39% 71% 71% 0% 131 686 446,199 Jan-22 100% 100% 29% 43% 71% 71% 0% 269 573 441,847 Feb-22 100% 100% 29% 41% 71% 71% 0% 240 531 383,997 Oct-22 100% 100% 18% 45% 82% 82% 0% Emaar Beachfront 3,267 11,852 3,505,619 100% 99% 35% 43% 65% 48% 17% Marina Vista 353 870 327,247 Sep-18 100% 100% 46% 100% 37% 54% 29% 25% Grand Bleu Tower 634 2,232 701,222 Apr-19 100% 100% 43% 55% 36% 57% 34% 23% South Beach 270 662 235,318 Sep-19 100% 100% 54% 100% 38% 46% 20% 26% Beach Isle 396 1,191 410,319 Feb 201 100% 100% 46% 90% 37% 54% 34% 20% Palace Beach Residence 550 1,628 522,827 Apr-21 100% 100% 30% 9% 35% 70% 41% 29% Beach Mansion 491 1,939 569,871 Sep-21 100% 100% 34% 4% 46% 66% 47% 19% Address The Bay 323 1,699 412,461 Jun-22 99% 95% 21% 50% 79% 79% 0% Beachgate by Address 250 1,630 326,354 Aug-22 Total 14,533 46,737 18,810,299 100% 100% 100% 99% 20% 60% 80% 80% 0% 42% 42% 58% 40% 18% * Project developed by Emaar Development PJSC on behalf of Emaar Properties PJSC #Group's share is 61.25% 55 | EMAAR 1) Total project value of units under development is based on the expected selling price; 2) Corresponds to gross margin for units sold not necessarily indicative of margin at completion; 3) Projects where handover has not started are included in above table though 100% completion is achieved Note: Revenue of units sold related to projects under construction are recognized once 20% construction completion and 20% collection is achieved#57UAE Development - Projects Under Development (100% Owned) % Remaining Collections of Sold Project (100% Owned) Units Project Value (AED Mn) (¹) The Valley 1,518 3,013 Area (SQF) 2,737,590 % Collected of Launch Period % Unit Sold % Value Sold sold value % Completion Dec-22 (3) % Gross Margin Total Dec-22(2) Value Till Post Handover Handover 99% 99% 24% 36% 76% 71% 5% Eden 362 499 553,940 Nov-19 99% 99% 50% 87% 27% 50% 19% 31% Nara 372 566 578,735 Aug-21 100% 100% 41% 11% 27% 59% 59% 0% Talia 330 545 520,216 Jan-22 100% 100% 25% 7% 43% 75% 75% 0% Orania Farm Gardens 308 525 478,262 Jun-22 100% 100% 20% 39% 80% 80% 0% 146 878 606,437 Dec-22 96% 96% 40% 100% 100% 0% Emirates Hills 277 751 312,806 96% 96% 18% 41% 82% 82% 0% Golf Heights* 277 751 312,806 Oct-22 96% 96% 18% 41% 82% 82% 0% Dubai Creek Harbour* 5,918 12,027 5,689,107 96% 94% 33% 40% 67% 50% 17% Address Harbour Point 800 2,206 838,338 Sep-17 99% 100% 53% 100% 43% 47% 21% 26% Breeze 202 342 192,487 Oct-18 100% 100% 40% 100% 41% 60% 26% 34% Sunset 144 239 138,174 Nov-18 100% 100% 45% 100% 29% 55% 27% 28% Palace DCH 587 1,054 540,047 Jan-19 98% 97% 44% 86% 36% 56% 20% 36% Bay Shore 304 359 230,308 Feb-19 99% 99% 44% 100% 28% 56% 27% 29% Summer 300 377 232,570 Apr-19 100% 100% 47% 100% 29% 53% 15% 38% Creek Edge 563 957 515,847 May-19 92% 90% 28% 83% 36% 72% 39% 33% Surf 171 218 133,672 Jun-19 100% 100% 49% 100% 34% 51% 14% 37% Vida Creek Beach 222 436 203,009 Dec-19 100% 100% 49% 94% 44% 51% 22% 29% DC Grove 262 506 255,491 Dec-21 100% 100% 27% 14% 33% 73% 63% 10% Rosewater 211 445 204,669 Jan-22 100% 100% 29% 9% 41% 71% 63% 8% Creek Palace 333 641 315,431 Mar-22 100% 100% 20% 5% 30% 80% 80% 0% Lotus 267 398 205,260 Mar-22 100% 100% 22% 12% 36% 78% 78% 0% Orchid 208 323 163,553 Apr-22 100% 100% 20% 14% 37% 80% 80% 0% Creek Crescent 230 463 220,963 Jun-22 100% 100% 20% 32% 80% 80% 0% Island Park I 154 299 161,292 Jun-22 99% 99% 20% 29% 80% 80% 0% Island Park I The Cove II Total 100% Owned 154 300 161,292 Jul-22 100% 100% 20% 29% 80% 80% 0% 806 2,463 976,704 Nov-22 78% 76% 8% 51% 92% 92% 0% 22,246 62,527 27,549,802 99% 98% 39% 41% 61% 44% 17% Project developed by Emaar Development PJSC on behalf of Emaar Properties PJSC # Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner 1) Total project value of units under development is based on the expected selling price; 2) Corresponds to gross margin for units sold not necessarily indicative of margin at completion; 3) Projects where handover has not started are included in above table though 100% completion is achieved 56 | EMAAR Note: Revenue of units sold related to projects under construction are recognized once 20% construction completion and 20% collection is achieved#58UAE Development - Projects Under Development (JVs) % Remaining Collections of Sold Value Project (Joint Ventures) Units Project Value (AED Mn) (¹) Dubai Hills Estates 2,569 10,015 Area (SQF) 4,385,520 % Collected of Launch Period % Unit Sold % Value Sold sold value % Completion Dec-22 (3) % Gross Margin Dec-22(2) Total Till Handover Post Handover 98% 97% 29% 60% 71% 57% 14% Socio 332 278 193,826 Feb-18 100% 100% 50% 96% 26% 50% 50% 0% Golf Suites 211 347 202,994 Nov-18 100% 100% 49% 100% 42% 51% 11% 40% Golfville 306 311 183,203 Apr-19 100% 100% 36% 39% 44% 64% 36% 28% Golf Place II 128 1,460 777,810 Feb-21 100% 100% 41% 11% 57% 59% 22% 37% Palm Hills 75 875 370,886 May-21 100% 100% 39% 3% 64% 61% 33% 28% Majestic Vistas 40 1,182 347,721 Jun-21 100% 100% 40% 2% 74% 60% 34% 26% Park Field 304 528 263,029 Jun-22 100% 100% 20% 36% 80% 80% 0% Lime Gardens 291 519 250,116 Jul-22 99% 98% 21% 50% 79% 79% 0% Hills Park 444 709 359,133 Aug-22 99% 99% 19% 46% 81% 81% 0% Address Hillcrest 138 3,273 1,183,776 Aug-22 94% 94% 18% 72% 82% 82% 0% Park Horizon 300 534 253,026 Nov-22 86% 82% 8% 51% 92% 92% 0% Rashid Yachts & Marina 673 1,516 723,982 62% 61% 14% 35% 86% 86% 0% Sea Gate 282 633 302,236 Jun-22 85% 86% 20% 33% 80% 80% 0% Seascape 391 882 421,746 Dec-22 46% 44% 6% 36% 94% 94% 0% Emaar South 1,655 2,225 2,437,656 98% 96% 42% 33% 58% 27% 31% Parkside 2 Parkside 3 Green View Greenview 2 422 510 604,920 Jan-19 100% 100% 53% 95% 29% 47% 6% 41% 365 438 519,318 Feb-19 100% 100% 47% 100% 29% 53% 8% 45% 286 350 413,656 Apr-19 100% 100% 48% 28% 31% 52% 14% 38% 292 358 417,556 Jul-19 100% 100% 46% 21% 33% 54% 17% 37% Greenview 3 241 391 366,067 Apr-22 100% 100% 20% 39% 80% 80% 0% Fairway Villas 49 179 116,139 Dec-22 47% 51% 43% 100% 100% 0% Total 4,897 13,756 7,547,158 93% 93% 30% 53% 70% 54% 16% Grand Total (100% Owned + JVs) 27,143 76,284 35,096,960 98% 97% 37% 43% 63% 46% 17% 1) Total project value of units under development is based on the expected selling price; 2) Corresponds to gross margin for units sold not necessarily indicative of margin at completion; 3) Projects where handover has not started are included in above table though 100% completion is achieved 57 EMAAR Note: Revenue of units sold related to projects under construction are recognized once 20% construction completion and 20% collection is achieved#59UAE Development - Completed Projects 1 (100% Owned) Project (100% Owned) Units Project Value (AED Mn) (2) Are a % Unit Sold % Value Sold (SQF) % Collected of sold value % Remaining Collections of Sold Value Downtown Dubai 5,904 23,782 8,682,236 99% 99% 96% 4% Blvd Heights 550 1,805 773,089 99% 98% 90% 10% Address Sky View Blvd Point Blvd Crescent Vida Downtown Burj Vista Fountain Views III Address Boulevard Burj Khalifa Fountain Views 551 2,903 984,654 100% 100% 98% 2% 449 1,371 592,675 100% 100% 98% 2% 357 1,150 489,233 97% 96% 95% 5% 344 1,415 492,618 98% 98% 94% 6% 666 1,934 867,737 100% 100% 99% 1% 208 1,160 357,781 100% 100% 99% 1% 531 1,940 667,698 100% 99% 99% 1% 900 4,569 1,586,013 100% 100% 98% 2% 286 1,074 389,953 100% 100% 100% 0% Fountain Views II 289 1,110 392,485 100% 100% 99% 1% The Downtown Views 478 1,239 573,081 100% 100% 95% 5% Opera Grand Residential Tower 295 2,112 515,219 100% 100% 82% 18% Dubai Marina 650 2,596 1,163,437 96% 94% 96% 4% Marina Plaza 164 1,502 644,468 84% 89% 96% 4% 52-42 486 1,094 518,969 100% 100% 96% 4% Emirates Hills 137 427 202,837 99% 99% 97% 3% Vida The Hills 137 427 202,837 99% 99% 97% 3% Arabian Ranches I 33 291 161,326 100% 100% 96% 4% La Avenida II 33 291 161,326 100% 100% 96% 4% Arabian Ranches II 2,404 8,121 5,966,122 100% 99% 90% 10% Reem 216 507 398,804 100% 100% 96% 4% Samara 177 728 467,319 98% 98% 89% 11% Azalea 108 418 264,151 99% 99% 85% 15% Rasha Lila Rosa Yasmin Polo Homes Palma Casa 140 764 523,899 99% 99% 95% 5% 219 871 573,553 100% 100% 98% 2% 144 794 543,599 97% 96% 99% 1% 98 557 375,066 98% 97% 96% 4% 71 733 500,316 100% 100% 99% 1% 121 498 334,981 100% 100% 100% 0% 253 944 687,771 100% 100% 99% 1% Camelia Camelia 2 Sun Total 258 408 395,658 100% 100% 69% 31% 168 270 257,880 100% 100% 71% 29% 431 628 9,128 35,217 643,125 16,175,958 100% 100% 54% 46% 99% 99% 95% 5% 1) Completed projects with remaining inventory and/or remaining collections. 2) Total Project value of completed projects based on expected selling price 58 | EMAAR#60UAE Development - Completed Projects 1 (100% Owned) Project (100% Owned) Units Project Value (AED Mn) (2) Are a (SQF) % Unit Sold % Value Sold % Collected of sold value % Remaining Collections of Sold Value Emaar Beachfront 917 2,551 955,142 100% 100% 85% 15% Sunrise Bay 457 1,283 470,456 100% 100% 85% 15% Beach Vista 460 1,268 484,686 100% 100% 85% 15% * Dubai Creek Harbour 4,767 9,909 5,193,635 99% 98% 72% 28% Dubai Creek Residences 174 418 236,456 99% 99% 96% 4% Harbour Views 776 1,574 867,170 100% 100% 88% 12% Creekside 18 Creek Horizon Creek Gate The Cove Creek Rise Harbour Gate 500 1,069 555,939 98% 97% 81% 19% 556 1,113 601,961 100% 100% 75% 25% 490 993 528,287 95% 92% 69% 31% 280 753 346,176 98% 97% 77% 23% 539 1,061 558,555 99% 99% 55% 45% 513 998 527,348 97% 94% 55% 45% 17 Icon Bay 380 659 370,448 100% 100% 55% 45% The Grand 559 1,272 601,295 100% 100% 71% 29% Total 100% Owned 14,812 47,677 22,324,735 99% 99% 89% 11% * Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner 1) Completed projects with remaining inventory and/or remaining collections. 2) Total Project value of completed projects based on expected selling price 59 EMAAR#61Units Dubai Hills Estates 8,648 UAE Development - Completed Projects 1 (JVs) Project (Joint Ventures) Are a (SQF) 18,382,827 Project Value % Collected of sold % Unit Sold % Value Sold (AED Mn) (2) value % Remaining Collections of Sold Value 26,588 99% 99% 89% 11% Park Heights I 270 319 216,135 100% 100% 89% 11% Park Heights II 555 653 442,933 100% 100% 91% 9% Sidra 3 339 1,367 881,928 100% 100% 96% 4% Maple 3 562 1,496 1,029,810 100% 100% 92% 8% Sidra 2 422 1,749 1,127,673 100% 100% 99% 1% Sidra 479 2,042 1,303,633 100% 99% 100% 0% Grove and Views 131 2,889 1,122,220 98% 94% 90% 10% Parkway Vistas 61 872 466,172 100% 100% 98% 2% Fairway Vistas 65 986 502,931 100% 100% 97% 3% Maple 2 666 1,747 1,229,258 100% 100% 99% 1% Acacia 537 1,071 677,047 95% 93% 95% 5% Emerald Hills Plots 177 1,260 1,553,070 100% 100% 67% 33% Maple 1 646 1,772 1,215,738 100% 100% 98% 2% The Parkway Plots 116 686 1,058,832 100% 100% 90% 10% Mulberry 676 1,354 858,314 97% 93% 96% 4% The Fairway Plots 118 679 1,221,348 100% 100% 95% 5% Park Point 333 490 331,171 100% 100% 90% 10% Club Villas 150 577 368,299 100% 100% 96% 4% Park Ridge Collective 492 709 423,491 100% 100% 76% 24% 473 411 274,790 100% 100% 81% 19% Golf Grove 166 577 405,617 100% 100% 61% 39% Collective 2 494 459 285,010 100% 100% 65% 35% Golf Place 158 1,603 923,279 100% 100% 53% 47% Executive Residences I&II 562 820 464,128 100% 100% 69% 31% Emaar South 1,795 2,399 2,288,626 91% 91% 76% 24% Urbana I, II, III 932 1,052 1,065,804 92% 92% 82% 18% Golf Views 288 319 253,035 68% 57% 88% 12% Golf links Parkside 204 585 460,544 100% 100% 76% 24% 371 443 509,243 100% 100% 57% 43% Total (JVs) 10,443 28,986 20,671,453 98% 98% 88% 12% Grand Total (100% Owned + JVs) 25,255 76,663 42,996,188 99% 98% 89% 11% 1) Completed projects with remaining inventory and/or remaining collections. 2) Total Project value of completed projects based on expected selling price 60 | EMAAR#62UAE Development - Location of Development Projects PALM ISLAND EMAAR BEACHFRONT JEBEL ALI FREE ZONE DUBAI MARINA A kive INVESTMENTS PACK DUBAI SOUTH + AL MAKTOUM INTERNATIONAL LUSAILY AIRPORT EMA. AR SOUTH * 'Rashid Yachts & Marina', formerly 'Mina Rashid' ** Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner 61 | EMAAR EMIRATES LIVING Ma THE WORLD ISLAND BURI KHALIFA AQUITOUSTICE AREA THE DUBAI MALL ARABIAN RANCHES I DUBAI HILLS ESTATE ARABIAN RANCHES II ARABIAN RANCHES III DOWNTOWN DUBAI THE MALLEY RAS-HID YACHTS CMADINA DUBAI FRAME ZABEEL SQUARE DEIRA DUBAI CREEK HARBOUR C DUBAI INTERNATIONAL AIRPORT AL MARJAN IRJA. K. 100% OWNED WITH MASTERPLAN 100% CONSOLIDATED JV JVWITH 50% SHARE 100% OWNED LAND BANK WITHOUT MASTERPLAN#63UAE Development - Expected Delivery Schedule (Units) Under Development Delivery Schedule Completed Under Development 2023 2024 2025 2026 A - Emaar Development (fully consolidated) Downtown* 14,989 7,831 4,792 1,964 1,075 Emaar Beachfront 917 3,267 623 1,030 550 1,064 Dubai Marina 4,936 799 362 437 Arabian Ranches 4,360 Arabian Ranches II 1,665 Arabian Ranches II| 431 2,636 640 797 690 509 The Valley 1,518 362 702 454 Emirates Living (Excluding Land) 14,968 277 277 Emaar Towers 168 Dubai Hills Estate 8,166 2,569 543 549 1,477 Umm Al Quwain 277 Dubai Creek Harbour ** Rashid Yachts & Marina*** Total - A 5,466 5,918 1,368 1,338 673 56,343 25,488 8,328 6,040 1,843 282 4,067 1,369 391 7,053 B - Joint Ventures Emaar South Total - B Total (A + B) *Downtown includes Burj Royale project where Group's share is 61.25% ** Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner *** 'Rashid Yachts & Marina', formerly 'Mina Rashid' 62 | EMAAR 1,801 1,655 787 578 1,801 1,655 787 578 290 290 58,144 27,143 9,115 6,618 4,067 7,343#64UAE Development - Land Bank Details. Land Bank Evolution through Investments & Strategic Partnerships Year Masterplan 2012 Arabian Ranches II GFA BTS 2011-2022 Multiple 2013 Dubai Hills Estate -26x CAGR -41% ** 2014 Dubai Creek Harbour 2015 Emaar South 416 2016 369 369 369 2017 Downtown Views, Ras Al Khaimah Zabeel Square & Emaar Beachfront 336 Arabian Ranches III, Mina Rashid & The 2019 287 287 287 Valley Garden 2022 Lusaily Extension 231 233 234 211 234 211 Gross Land Area 162 198 199 UAE Available Land Bank 167 (Mn SQ. FT.) 114 UAE wholly owned 198.07 Lusaily # 95.48 78 Ras Al Khaima 0.84 25 Others (Downtown, Arabian Ranches etc.) 8.17 13 18 The Valley Garden 93.30 9 Emaar Beachfront 0.28 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Dubai Hills 26.57 No Long-Term Need for Land Purchase Note: Cumulative historical GFA BTS not adjusted for GFA developed post 2011 nor GFA currently under development GLA BTS Cumulative GFA BTS Emaar South & others Total UAE Available Land Bank *Rashid Yachts & Marina, formarly Mina Rashid Dubai Creek** Rashid Yachts & Marina* 53.59 9.94 58.38 346.55 # Includes 45.98Mn sqft land under Emaar Properties PJSC and 49.5Mn sqft of Lusaily extension under Emaar Development PJSC ** Emaar Properties PJSC has fully acquired Dubai Creek Harbour in December 2022 from JDA partner 63 | EMAAR Note: Land bank is as on 31 December 2022#65International Development - Expected Delivery Schedule Country Entity Completed Subsidiaries Under Development To be developed 2023 2024 2025 2026 & Onwards Emaar Misr 11,558 5,310 Emaar Middle 936 辉 East C⭑ Emaar Turkey 1,305 HPH Metn Renaissance 1,538 1,684 1,741 375 29 38 38 57 85 516 73 80 118 26 29 EGKL & EDIL 2,186 920 64 EMAAR 9 493 436 39 39 Emaar India 21,571 3,348 1,063 4,572 1,063 Total 38,072 9,651 1,143 6,351 2,241 2,244 1,534#66International Development - Land Bank Details International Land Bank Saudi Arabia (Emaar Economic City)* Saudi Arabia (Emaar Middle East) India (Emaar India) Egypt Pakistan Lebanon Total Key International Markets * Emaar Economic City is an associate of Emaar, land bank data is as on 30 Sep 2020 65 | EMAAR Gross Land Area (Mn SQ. FT.) 1,119.4 2.2 141.4 46.3 10.1 2.0 1,321.4#67JV Accounting Treatment Accounting Dubai Hills - Consolidation Rashid Yachts & Marina*- Consolidation Emaar South & Zabeel Square - Equity Method • • P&L Line by line consolidation 50% Minority Interest Line by line consolidation 30% Management Fee Expense 50% profit recognised using equity accounting method Management fee recognised as revenue by Emaar Development • • Balance Sheet Line by line consolidation • 50% Minority Interest Line by line consolidation Investments in associates and joint ventures Loans to associates and joint ventures • * 'Rashid Yachts & Marina', formerly 'Mina Rashid' 66 | EMAAR Impact on Return on Capital • Neutral impact on ROCE Neutral impact on ROCE Higher ROCE as Development Assets not recognised on company's Balance Sheet#68Hospitality Group Current Portfolio - Hotel Emaar Hospitality Group Hotel Portfolio Dubai Armani Hotel at Burj Khalifa Address Downtown Dubai Address Dubai Mall (6) Address Dubai Marina (6) Address Boulevard (6) Address Fountain View Address Sky View(6) Address Beach Resort (6) Addrees Fujairah Management Company Classification Keys Residences in Hotel Pool (3) Operational Armani Hotel Dubai 5 Star 160 2 2010 TAH&R (1) 5 Star 220 88 2008 TAH&R (1) 5 Star 244 78 2009 TAH&R (1) 5 Star 200 9 2009 TAH&R(1) 5 Star 196 18 2017 TAH&R (1) 5 Star 193 NA 2019 TAH&R (1) 5 Star 169 NA 2019 TAH&R (1) 5 Star 217 NA 2020 TAH&R (1) 5 Star 196 34 2021 The Palace Downtown Dubai TAH&R (1) 5 Star 242 NA 2007 Palace Beach Resort, Fujairah TAH&R (1) 5 Star 167 NA 2022 Manzil Downtown Dubai (6) Vida Downtown Dubai (6) Vida Hills Hotel Vida Creek Harbour Vida Umm Al Quwain Rove Downtown Rove City Center Rove Healthcare City Rove Trade Center Vida Hotels & Resorts 4 Star 197 NA 2007 Vida Hotels & Resorts Vida Hotels & Resorts 4 Star 156 50 2007 4 Star 160 19 2007 Arabian Ranches Golf Club Vida Hotels & Resorts Emaar Hospitality 4 Star 286 NA 2019 Standard 11 NA 2007 Vida Hotels & Resorts 5 Star 143 NA 2021 ROVE (2) 3 Star 420 NA 2016 ROVE (2) 3 Star 270 NA 2016 ROVE (2) 3 Star 286 NA 2017 ROVE (2) 3 Star 270 NA 2017 Rove Dubai Marina ROVE (2) 3 Star 384 NA 2018 ROVE (2) 3 Star 579 NA 2019 ROVE (2) 3 Star 366 NA 2020 ROVE (2) 3 Star 566 429 2021 ROVE (2) 3 Star 331 NA 2021 Armani Hotel-Milan 5 Star 95 2011 Rove At The Parks Rove La Mer Rove City Walk Rove Expo 2020 International Armani Hotel at Via Manzoni (Milan, Italy) Other Emaar Group Hotels International Novotel (Hyderabad, India) (4) Al Alamein Hotel (Marassi, Egypt) (5) Verdi Hub (Marassi, Egypt) Blanca (Marassi, Egypt) Address Marasi (Marassi, Egypt) Vida Marasi (Bahrain) Address Residence (Istanbul) 1) TAH&R: The Address Hotels and Resorts 2) Rove is joint venture with Meraas Holding 3) Residences in the Hotel Pool are operated by Emaar Hospitality like hotel rooms, on behalf of unit owners, for a % of revenue 67 | EMAAR Accor TAH&R (1) 5 Star 288 NA 2006 4 Star 187 +2 NA 2007(5) NA In process 19 NA 2020 In process 30 NA 2020 5 Star 48 NA 2020 5 Star 157 NA 2021 5 Star 182 197 2021 NA TAH&R (1) Vida Hotels & Resorts TAH&R (1) 4) Novotel hotel not operated by Emaar Hospitality Group 5) Al Alamein Hotel is a landmark Egyptian hotel operating since 1964 and acquired by Emaar in 2007, includes 187 rooms and 2 villas 6) Emaar maintains management rights only#69Hospitality Group - Hotels/ Service Apartments Under Development¹ Serviced Estimated Hotel Location Launch Keys Apartments 2 Completion Palace Dubai Creek Harbour Dubai Creek Harbour 2019 122 0 2023 Address The Bay Emaar Beachfront 2022 184 0 2026 Vida Creek Beach Vida Dubai Mall Dubai Creek Harbour 2019 99 0 2023 Downtown 2017 195 380 2023 68 | EMAAR 1) Represents hotels / serviced apartments being developed by Emaar, 2) The Serviced Apartments figures refer to the total number of apartments in the project and not the units in the hotel pool#70Fair Valuation Overview - GAV By Segment December 2022 Book Value Split 1% 4% 4% 13% AED 132 Bn 57% 21% ■ UAE Development ■Retail & Leasing ■ Associates 69 | EMAAR December 2022 Fair Value Split 3% 1% 3% 29% 48% AED 211 Bn 16% ■International Development ■ Hospitality ■ Others ■ UAE Development ■Retail & leasing ■ Associates ■International Development Hospitality ■ Others Market Value of Assets is ~ 1.6x of the Book Value Fair valuation is carried out by CBRE and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above fair value do not include fair value of unconsolidated JVs except for listed associates & Rove.#71Fair Valuation Overview - GAV By Segment (Cont'd) - GAV: Development Properties GAV: Fixed Assets 2022 2021 2022 2021 Book Fair Book Fair Book Fair Book Fair AED Million AED Million Value Value Value Value Value Value Value Value UAE 27,762 53,059 18,708 38,014 Hotels & Convention Egypt 5,046 5,783 7,477 9,257 5,277 7,224 4,776 6,135 Center Turkey 384 394 620 618 India 7,146 12,492 8,860 11,834 District 904 904 741 741 KSA 579 766 677 894 Cooling Plant Pakistan 455 1,621 390 1,828 At The Top 221 221 235 235 USA 408 408 453 453 Leisure & 913 913 975 975 Lebanon 413 413 436 436 Entertainment Morocco 41 95 49 109 Other Assets 2,569 2,569 2,430 2,430 Syria 7 9 19 19 Total 42,241 75,040 37,689 63,462 Total 9,884 11,831 9,157 10,516 Fair valuation is carried out by CBRE and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above fair value do not include fair value of unconsolidated JVs except for listed associates & Rove. Note: During the year management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied for such hospitality entity as per IAS 28, retrospectively, and comparative numbers have been restated. 70 EMAAR#72Fair Valuation Overview - NAV Table 2022 In AED Mn 2021 Book Value Fair Value Book Value Fair Value Cash and bank balances Trade and Other Receivables Development Properties 18,289 18,289 8,539 8,539 27,984 27,984 30,743 30,743 42,241 75,040* 37,689 63,462 Investment in Associates and Joint Ventures 5,801 6,542 5,550 7,548 Securities and Loans to Associates and Joint Ventures 3,280 3,280 4,381 4,381 Investment Properties 22,688 66,177 22,743 62,388 Fixed Assets 9,884 11,831 9,157 10,516 Intangible assets 212 Assets Held for sale Right of use assets Total Assets Total Liabilities (incl. Minority Interest) Net Asset Value Number of Shares Outstanding (in Million) Net Asset Value per Share (AED) 8,180 14.89 Note: During the year management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied for such hospitality entity as per IAS 28, retrospectively, and comparative numbers have been restated. * Adjusted for future collections recorded as trade receivables in the books 1,030 955 132,364 (63,366) 68,998 8,839 7.81 212 1,030 955 211,340 745 745 1,067 120,614 1,067 189,389 (73,250) 138,090 8,839 15.62 (58,899) (67,575) 61,715 121,814 8,180 7.54 71 EMAAR Fair valuation is carried out by CBRE and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above fair value do not include fair value of unconsolidated JVs except for listed associates & Rove.#73Group Structure* DOMESTIC REAL ESTATE INTERNATIONAL DUBAI MALLS EMAAR PROPERTIES PJSC (3) HOSPITALITY GROUP OPERATIONS LEISURE & ENTERTAINMENT OTHERS CREEK HARBOUR (100%) EMAAR DEVELOPMENT PJSC (5) (0) IBC, RSA EVIL KRA EGYPT (4) 05574% EMAAR MALL (100%) EMAAK HOSPITALITY GROUP (100%) IMAAR HOTELS & RESORTS ( Dubai Creek Hotels EMAAR DISTRICT COOLING (100%) EMAAR ASSET MANAGEMENT (100%) AT THE TOP (100) EMAAR ENTERTAINMENT HAMPIONS MENA (100%) EMAAK BAWAH (51 (50) DUBAI HILLS ESTATE 150% EMAAK INDIA (77%) & EMAAR AMC IV (74%) EMAAK LEBANON NAMSHI (1 ROVE HOTELS (50%) (5) MIRAGE LEBLIKE & DEVELOPMENT (100%) EMAAR DUBAI SOUTH DWC (1 & 5) (50%) EMAAR TURKEY (100%) EMAAR MOROCCO (100%) CATC EMAAR LLC (5) G ZABEEL SQUARE (1 & 5) (50%) EKO TEMALI (5) EMAAK AMERICA (50%) (100%) TURNER INTERNATION- AIL ME (5) (65%) MINA RASHID (17) (100%) EMAAR PAKISTAN BGKL & EDIL (1%) DUBAI OPERA (100%) AMLAK (3 & 5 (48.1% IMAAR INDUSTRIES & INVESTMENTS (5) 406 EMRILL (5) (50%) EMAAR IGO SYRIA DEAD SEA EMAAR JOR- DAN (100%) TOURISM (5) 2933%) Lined Companies Note: (1) Only built to sell projects are held by Emaar Development and IV partners. Build to leave and operat (BTL/BTO) projects are directly held by Emour Properties PJSC, its aubaidiaries and JV part (2) Dubai Crack Harbour is a joint development agreement hence not included in above structure. (3) Listed on DFM. (4) Listed on ECX. (5) Equity accounted joint ventures or associat (6) Listed on Tadawul Exchange. (7) 30% of profit is shared with partner as management fee 72 | EMAAR * Included only material entities#74Thank You EMAAR EMAAR PROPERTIES Name - Abhay Singhvi 975044 Email [email protected], [email protected] CHANEL CHANEL FAUCHON BAUCHON CAFER كافته AAN/DUBA 7599