#1EMAAR Prepared for the Future Built on Strength, Prudence & Resilience. Investor Presentation May 2021#2| Disclaimer EMAAR 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 PROPERTIES#3Discussion Summary Investing In Emaar Expanding Footprint in UAE & International Markets Business Strategy & Outlook Q1 2021 Results Update Annexure#4Investing In 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 centre 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, 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 Dubai Mall - Most Visited Mall in the World (Owner) Dubai Fountain - World's largest choreographed musical fountain Global Ranking1 in Listed Real Estate Space Net Profit: 22nd in EM (1st excl. China)² Revenue: 28th in EM (1st excl. China)² Ranked #1 best regarded company among real estate companies in the world³ EMAAR Landmark Hospitality Assets 28 Hotels with c. 6,038 keys Established brands: Address Hotels & Resorts, Vida Hotels & Resorts, Rove Hotels Asset-light model for growth: 25 hotels in pipeline with 2/3rd under management contract Preferred Shopping Malls & Retail Centres Owns & operates GLA of 8.4 Mn sq. ft. globally5, incl. 6.8 Mn sq. ft. in Dubai Omnichannel presence through Namshi Namshi - Revenues 24% CAGR6, NMV 24% CAGR Proven Execution in UAE & International Markets Residential Units delivered since 2002 Over 74,700 globally, over 48,4004 in UAE 1.7 Bn sq. ft. land bank in key countries 5 │ EMAAR PROPERTIES Strong Revenue Visibility Solid Revenue Backlog AED 41.84 Bn globally (AED 25.24 Bn in UAE) Robust recurring businesses 23% Recurring Revenues (40% of EBITDA) 1) Source: Bloomberg, 2) As on 31st Mar 2021, 3) by Forbes in 2019, 4) Numbers are inclusive of JVs/JDAS 5) Includes Emaar Square Mall in Turkey with 1.6m sq. ft. GLA, 6) Calculated over 2016 to 2020#7Diversified Real Estate Play In UAE & International Markets Resilient Business Model With Strong Growth Potential EMAAR Total Revenues In AED Mn 16% 25,689 23,911 17,959 18,548 15,412 12,936 15,118 13,098 8,856 10,038 6,899 5,253 3,075 3,724 3,381 2,057 2,338 3,075 5,788 5,881 6,311 7,202 7,251 4,846 2015 2016 2017 2018 2019 20202 Consistent growth delivered in difficult market environment post 2014 oil price crash Good business mix with strong upside potential in development business, supported by steadily growing recurring businesses² 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 ■ UAE Development: 25% CAGR 1 International Development: 16% CAGR1 ■Malls, Hotels & Entertainment (Recurring Revenues) : 6% CAGR 1 6 │ 1. CAGR calculated from 2015-2019, 2. Business performance were impacted due to various restriction imposed by authorities to contain Covid-19 pandemic, resulting in negative growth. EMAAR PROPERTIES Note: In Q1'21 revenue recognition policy of Emaar Egypt has been changed retrospectively from over a period of time to point in time method due to recent contract enforcement trends, legal opinions and industry practice. Accordingly, the comparative numbers have been restated.#8Strong Balance Sheet Solid Credit Profile with very Comfortable Net Debt-to-Equity and Debt Coverage AED Million Q1 2021 EMAAR Debt 21,509 Cash 7,125 Comfortable Debt Maturity Profile - Mar 2021 7,3362 Net Debt 14,384 Equity 64,942 4,743 Total Assets 120,233 3,908 3,2302 2,145 Key Ratios Q1 2021 166 Debt/Equity 0.3 2021 2022 2023 2024 2025 Debt/ Total Assets 0.2 2026 & Beyond Net Debt/ EBITDA 2.41 EBITDA / Interest 8.4 Credit Rating BB+ / Baa3 7 | EMAAR PROPERTIES Emaar Properties, Turkey & International Emaar Properties, Turkey & Emaar Development Emaar Properties, Emaar Development & International Emaar Malls, Rove & International Emaar Properties Sukuk 3 & 4 & International 1) EBITDA is calculated on trailing 12 months basis 2) Majority is short/medium term working capital type facilities which are rolled over on annual basis or on the respective facility expiry dates International#9EMAAR Emaar In "The Value Zone" Emaar Properties is Trading at Significant Discount to its NAV despite Superior Financial Metrics 57% -46% ■Market Cap (AED Bn) 52.0 Premium (Discount) to BV ▲ Premium / (Discount) to NAV 2 2014 8 | EMAAR PROPERTIES 1) Market valuation based on share price as at 6th May 2021; 2) NAV taken as of 31st Dec, 2020 -50% -73% 28.0 Q1-2021¹#10Sum of The Parts Valuation Analysis Emaar's market cap 1 AED 28 Bn 35.7 9.4 21.3 Emaar's share of Listed companies AED 36 Bn 2.1 (7.7) 2.7 -0.2- Emaar Properties Emaar Dev. Emaar Malls Emaar MISR EEC Amlak 9 | EMAAR PROPERTIES 1) Based on share prices as of 6th May 2021 EMAAR Current share price implies deep holding company discount and negative valuation given to Emaar's unlisted businesses#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 with c. 4.3 mn sq. ft. in area Dubai Marina EMAAR 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 PROPERTIES 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's Sales - Ahead of the Competition (~3x in 2020) EMAAR In AED Bn 18.0 14.4 14.4 14.9 7.0 7.5 6.3 4.3 3.1 2.3 2016 2017 2018 Emaar 2019 ■Listed Peer 2020 Sales Trend (Units) 8,132 7,437 6,682 4,657 Revenues2 (AED Bn) 8.9 6.9 2,322 15.4 12.9 9.9 Displayed strong sales traction, despite difficult market conditions Significant long-term value creation through Integrated Master Developments centered around Iconic Assets Strong customer trust and brand loyalty Emaar achieved UAE property sales of c. AED 5.9 Bn in Q1'21 despite Covid-19 challenges. Sale price per unit has improved significantly in 2021 12 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 EMAAR PROPERTIES 1) Sales Trend Units are including JVs/JDAS 2) Revenue as reported by Emaar Development#14Renowned For Its Iconic Retail Assets... 13 | EMAAR PROPERTIES 1) As at 31st March 2021. 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) 92% Occupancy¹ 1,200+ stores with leading retailers and marquee global brands Resilient footfalls in 2020 despite several restrictions imposed due to Covid-19 pandemic#15...Delivering Robust Growth Emaar Malls Delivered Consistent Growth over 2012 to 2019 EMAAR 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 new community projects, added 121K Sq.Ft. GLA to its portfolio in 2020 Emaar Malls offered rent relief of over AED 1.2 Bn to its tenant till 31st March 2021 to support them during Covid-19 pandemic Robust Growth in Footfalls... 6,095 5,969 6,090 5,158 5,295 5,371 5,423 5,419 5,368 6% 89 104 114 124 125 130 136 136 76 2012 Footfalls - Mn 2013 2014 2015 2016 2017 2018 2019 2020 ■Main Units GLA-'000 Sq.Ft. Along with Steady Increase in Rent psf. (AED) 460 505 6% 539 561 600 579 381 419 379 IIII 14 | EMAAR PROPERTIES 2012 2013 2014 2015 2016 2017 2018 2019 2020 Note: CAGR for footfall and rent increase is calculated from 2012-2019, 2020 impacted due to Covid-19 rent relief.#16...Complemented By Immersive Entertainment Avenues EMAAR Major Tourist Attractions driving Footfalls at The Dubai Mall Entertainment Business: 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 VRZOO, VR experience of world's endangered species ✓ KidZania, children's edutainment centre Reel Cinemas, UAE's largest 26-screen laser megaplex VR Park, largest virtual reality park spread over 75,000 sq. ft. Dubai Ice Rink, Olympic-sized ice-skating & events venue 62.6% 66.6% 67.7% 68.6% 58.7% 58.9% 59.4% 46.7% 1,389 1,195 1,291 1,304 1,408 899 991 649 2013 2014 2015 2016 2017 2018 2019 2020 Revenues EBITDA Margin % Expansion Plans ✓ Planning to add new cinemas, family entertainment centres and thrill attractions in Dubai Focussing on expansion outside UAE, primarily in Saudi Arabia and Bahrain, to operate exceptional entertainment experiences 15 | EMAAR PROPERTIES Note: 2020 performance was impacted due to various restrictions imposed by authorities to contain Covid-19 pandemic.#17Hospitality Assets Deliver Steady Performance Steady Performance in a Difficult Market Environment Emaar Hotels: Able to maintain healthy EBITDA margin in a weak market with operating costs under control Hospitality sector will be the key beneficiary of Expo (Emaar is also the Hospitality partner for Expo) ✓ Adopting an asset-light strategy for growth1 Hospitality Business: Resilient & Profitable EMAAR In AED Mn 37.9% 33.7% 30.8% 30.2% 23.9% 24.7% 25.5% 23.9% 1,681 1,677 1,515 1,438 1,520 1,559 1,339 Healthy pipeline of 25 hotels under development, 2/3rd of which are under management contracts 912 Established brands - Address Hotels & Resorts, Vida Hotels & Resorts and Rove Hotels 2013 2014 2015 2016 2017 2018 2019* 2020* ADRs and Occupancy are higher than the average of Dubai's market Revenues EBITDA Margin % 16 | 1. Sold 5 hotel assets in 2019 and 2 in 2020 while continuing to operate such hotels under long term Hotel Management Agreement. EMAAR PROPERTIES * 2020 (AED 123 Mn) and 2019 (AED 41 Mn) includes revenue from sales of hotel rooms by Rove City Walk.#18EMAAR Replicating Our Success In International Markets Leverage Emaar's Strength And Unlock the Land Bank Potential in Key International Markets Development ✓ c. 41,000 units sold & c. 26,300 units delivered since 2002 ✓ 1.34 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 ✓ Uptown Cairo Mall - will be the largest open mall in Egypt ✓ 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 (4-star hotel with ~190 keys), Blanca, Address Marasi and verdi Hub in Marassi, Egypt 17 EMAAR PROPERTIES#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 EMAAR#21• 20 | 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 Wider price-product range Marketing to International Customers Targeting international customers Business development in China, India, Saudi Arabia & other countries Seen strong response from Chinese customers • • EMAAR Well-planned Execution & Delivery Timely completion of projects under development Healthy cash flow generation Development Through JV/JDAs . • Access to premium land through JV/JDA with GRE1 • Preferred Development Partner for GRES • Expansion and penetration of Emaar Brand in existing and new markets over longer term • • 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 EMAAR PROPERTIES 1) Government Related Entities#22• • UAE Retail Strategy: Multi-format Omni-channel Growth Strategy EMAAR 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 • 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 Increase competitiveness and enhance customer convenience • Strengthen Omni-channel Presence Namshi - popular online fashion destination in core GCC markets, featuring around 900 brands Leverage Namshi platform to offer market extension opportunities, within UAE and across GCC region, to retailers Increase competitiveness and enhance customer convenience • 21 EMAAR PROPERTIES Explore to operate third-party malls under management contracts in Dubai & GCC region 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#23UAE Retail Strategy: Adopt Low-Risk Model For Future Expansions EMAAR Projects under Emaar Malls Operate As Pure Rental Income Play GLA • Pure Rental Income Play Project Name Expected ('000 sq.ft.) Opening Focus on rental income growth and cash flow generation Minimal Development Risk TDM Boulevard Expansion C. 110 H2 2021 221 • • Execute extensions & renovations at existing retail assets Selectively add new community centres in Emaar master developments New Expansions • New retail assets to be developed by Emaar Properties (independently or through Joint Ventures) Dubai Hills Mall1 Other Projects being developed by Emaar Properties Project Name GLA ('000 sq.ft.) Expected Opening c.2,000 H2 2021 • Emaar Malls to selectively buy the retail assets post construction with significant GLA already leased out Dubai Expo Mall 1,2 c.385 H2 2022 EMAAR PROPERTIES 1) Being developed under joint ventures by Emaar Properties & third parties, 2) Dubai South Mall is now renamed as Dubai Expo Mall#24Q1 2021 Results Update#2524\ Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Q1 2021 Key Highlights Overall Property Sales at AED 7.1 Bn Revenues AED 6.0 Bn (83% increase Vs. Q1'20) EBITDA AED 2.0 Bn Net Profit AED 0.7 Bn UAE Property Sales at AED 5.9 Bn (106% increase Vs. Q1'20) 23% Recurring Revenues 40% Recurring EBITDA Increased Omnichannel Presence; Launched Namshi in Qatar Opened Time Out Market & Vida Umm Al Quwain Revenue Backlog of AED 41.8 Bn to be recognized over next 3-4 years EMAAR PROPERTIES#26Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Key Highlights AED Million Group Property Sales Q1 2021 Q1 2020 % Change 7,115 3,887 83% Revenue 5,993 5,328 12% Gross Profit 2,680 2,410 11% Margin (%) 44.7% 45.2% EBITDA 1,977 1,390 42% Margin (%) 33.0% 26.1% Net Profit 657 609 8% Margin (%) 11.0% 11.4% EPS (AED/Share) 0.09 0.09 Total Equity¹ 64,942 64,582 1% Cash¹ 7,125 6,271 14% Debt¹ 21,509 21,361 1% Net Debt¹ 14,384 15,090 (5%) 1) 2020 numbers are as at 31 December 2020 25 EMAAR PROPERTIES Note: In Q1'21 revenue recognition policy of Emaar Egypt has been changed retrospectively from over a period of time to point in time method due to recent contract enforcement trends, legal opinions and industry practice. Accordingly, the comparative numbers have been restated.#27Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Segment Analysis Segment Wise Revenues (AED Mn) Revenue Share % EBITDA Share % +12% 5% 5,993 167 3% 5% 7% 301 15% 3% 5,328 884 326 365 AED 5,993 Mn - 49% 13% 25% AED 1,977 Mn 788 963 64% 60% - 18% 580 - 8% 3,853 + 36% 3,095 + 24% Contribution From Recurring Business 23% Recurring Revenues 40% Recurring EBITDA Q1-2021 Q1-2020 261 UAE Development Emaar Malls Emaar Hospitality Entertainment & Leasing Others EMAAR PROPERTIES#28Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Historical Trend Revenues CAGR* 16% Gross Profit CAGR* 13% 25,689 12,898 23,912 11,427 18,547 17,959 9,295 15,117 7,960 13,098 7,035 In AED Mn 6,533 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 EBITDA CAGR* 16% 27\ 7,079 5,244 5,530 2015 2016 2017 10,855 9,480 2018 2019 Net Profit After Minority Interest CAGR* 12% 6,142 6,071 4,955 4,268 3,811 5,296 2020 2,109 2015 2016 2017 2018 2019 2020 * CAGR taken from 2015 to 2019 only, 2020 numbers are impacted due to COVID-19 EMAAR PROPERTIES Note: In Q1'21 revenue recognition policy of Emaar Egypt has been changed retrospectively from over a period of time to point in time method due to recent contract enforcement trends, legal opinions and industry practice. Accordingly, the comparative numbers have been restated.#29Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Balance Sheet & Cash Flow Overview Balance Sheet Overview Total: AED 120,233 Mn Bank Balances & Cash 6% Cash Flow Overview In AED Mn (987) 16% Trade & Other Payables 2,417 Trade & Other Receivables (817) 6,378 23% 1 10% Advances from Customers 5,764 Interest Bearing Loans & 12% Borrowings 6% Sukuk Development Properties 35% 1% Other Liabilities Loans & Investments 5% in Associates & JVs 46% Shareholder's Equity Investment Properties 19% Property, Plant & Equipment Right Of Use 9% Dec-20 Cash & Operating Investing CF Financing CF CF FX Difference Mar -21 Cash & Others 1% 8% Non-Controlling Interests 3% Cash Equivalents Cash Equivalents Assets Liabilities & Equity 28 | EMAAR PROPERTIES#30Consolidated Results UAE Development International Development Emaar Development - Key Highlights 1 AED Million Emaar Malls Emaar Hospitality EMAAR Q1 2021 Q1 2020 % Change Q1 2021 Revenue Breakup Property Sales 5,884 2,857 106% Revenue 3,848 3,045 26% 23% Gross Profit 1,513 1,129 34% Margin (%) 39.3% 37.1% 3,848 M 60% 16% EBITDA 1,138 798 43% Margin (%) 29.6% 26.2% Net Profit 781 649 20% Margin (%) 20.3% 21.3% Apartment Villas/Townhouses Plots of land, commercial units and development services Default Rate ~1.8% of Sales Value c. 25,750 Units Under Construction 29 | EMAAR PROPERTIES ~1,100 Units Delivered Land Bank at ~287 Mn SQFT Revenue Backlog² of AED 25 Bn To be recognized over next 3-4 years c. AED 5.3 Bn Escrow Balance³ 1) Numbers excluding inter company transactions 2) Sales value of properties sold but not yet recognised as revenue under IFRS, including 100% of Joint Ventures & JDA 3) including 100% of Escrow balances of Joint Ventures & JDA's#31Consolidated Results UAE Development International Development UAE Development - Current Project Status 100% Owned Developments Emaar Malls Emaar Hospitality EMAAR 100% Consolidated JV JV/JD As with 50% Share Others Ras Al Khaimah Downtown Arabian Dubai Dubai Ranches 4 Marina Emaar Beachfront The Valley 5 Lusaily Dubai Hills Mina Rashid Dubai Creek 3 Emaar South 3 (100% owned land bank); Zabeel Total Square (JV with 50% share) ³ Units 7,494 1,927 846 2,570 362 In Planning Stage 3,472 282 7,064 1,736 In Planning Stage 25,753 Area (Mn sq. ft.) * 8.8 3.0 .9 2.6 .6 In Planning Stage 4.5 .3 7.1 2.5 In Planning Stage 30.2 Value (AED Bn) 24.5 3.1 1.9 7.5 0.5 In Planning Stage 7.5 0.6 13.7 2.1 In Planning Stage 61.5 % Units Sold 92% 86% 99% 84% 85% In Planning Stage 79% 16% 83% 100% In Planning Stage 86% % Value Sold 86% 82% 99% 81% 83% In Planning Stage 79% 14% 73% 100% In Planning Stage 82% % Collected of sold units 47% 31% 65% 31% 23% In Planning Stage 30% 32% 39% 35% In Planning Stage 41% Revenue Backlog 1 8.5 1.8 0.4 3.7 0.4 In Planning Stage 4.0 0.1 4.5 1.7 In Planning Stage 25.0 Gross Margin Achieved 2 44% 24% 36% 35% 27% In Planning Stage 49% 33% 31% 29% In Planning Stage 39% Remaining GFA to be launched in future (*) Total Remaining GFA 1.9 15.8 0.0 6.9 46.9 96.0 54.6 11.3 101.1 29.7 3.5 367.5 (Million Sqf) Remaining GFA of Build-to- Lease (BTL) / Build-to- 0.5 0.1 0.0 0.7 0.5 0.0 13.7 0.2 24.4 3.0 0.4 43.5 Operate (BTO)(Ⓡ) (Million Sqf) Remaining GFA of Build-to- 1.5 15.7 0.0 6.2 46.4 96.0 40.9 11.1 76.7 26.7 3.1 324.1 Sale (BTS) (Million Sqf) # Based on launches till 31 Mar 2021 1) Sales value of units sold but not yet recognised as revenue under IFRS, including 100% ownership of joint ventures as of 31 Mar 2021 2) Based on units sold which are under development as at 31 Mar 2021, margin is not necessarily indicative of margin at completion 3) JVs/JDA numbers are on the basis of the full project and not proportional to Emaar's share, while Emaar's entitlement/share of profits is 50% 4) Includes Arabian Ranches III 5) Not in the perimeter of Emaar Development PJSC * Details are based on current master plan as of 31 Mar 2021 @ BTL/ BTO are being developed on behalf of Emaar Properties PJSC for a management fee 30 | EMAAR PROPERTIES#32Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Emaar Development - Historical Trend Revenues 8,863 6,899 5,253 Gross Profit 15,433 12,746 9,758 3,761 2,861 2,395 2015 2016 2017 2018 2019 2020 EBITDA 3,236 2,353 1,918 5,657 In AED Mn 6,700 5,061 3,478 2015 2016 2017 2018 2019 2020 Net Profit (after Minority Interest) 3,901 3,695 2,743 2,700 2,452 2,318 1,962 1,657 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 31 | EMAAR PROPERTIES Note: Revenue is based on incremental percentage of completion achieved on development as per IFRS 15#33Consolidated Results UAE Development International Development International Development - Key Highlights C. AED 16.7 Bn Revenue Backlog1 To be recognized over next 3-4 years c. 1,500 Units Delivered in Q1'21 c. 26,300 Units Delivered since inception Emaar Malls Emaar Hospitality EMAAR International Sales - Units Released c. AED 1.2 Bn Sales booked in Q1'21 92% 8% 15,526 (18% increase vs. Q1'20) C 87% 13% 1,305 c. 11,500 Units 86% 14% 24,781 Under Construction c. 41,000 Units Sold since inception 照 88% 12% 1,095 HD Total 32 | EMAAR PROPERTIES 1) Sales value of properties sold but not yet recognised as revenue under IFRS as of 31 Mar 2021 87% 13% 734 92% 8% 2,713 89% 11% 46,154 % Sold of Units Released Units Released#34Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR International Development - Key Highlights Emaar Misr - Development¹ Key Highlights AED Million EGP Million • Delivered 241 units in Q1'21 Q1 2021 Q1 2020 % Change Q1 2021 Q1 2020 % Change • Property sales grew by 32% to AED 0.8 Bn • Emaar Misr's revenue backlog² was Units Delivered 241 46 424% 241 46 424% AED 13.4 Bn at the end of 31 Mar 2021 Net Sales 800 606 32% 3,420 2,600 32% Revenue 363 58 530% 1,551 247 527% Q1 2021 Revenue Breakup EBITDA 128 (13) (1119%) 546 (54) (1114%) 15% Villas/Townhouses Apartment Margin (%) 35% (22%) (259%) 35% (22%) (259%) Net Profit 124 57 116% 529 246 115% Margin (%) 34% 99% (66%) 34% 99% (66%) Note: In Q1'21 revenue recognition policy of Emaar Egypt has been changed retrospectively from over a period of time to point in time method due to recent contract enforcement trends, legal opinions and industry practice. Accordingly, the comparative numbers have been restated. 85% Emaar Misr Positioned Itself As Local Market Leader Delivering Superior Growth 33 | EMAAR PROPERTIES 1) Emaar Misr for Development is an EGX-listed company developing residential & commercial projects in Egypt. Emaar Misr financial information provided above is based on the updated accounting policies adopted by the Group. Exchange rates used for Mar 2021 is AED 0.2340 per EGP. 2) Sales value of units sold but not yet recognised as revenue under IFRS#35Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Emaar Malls - Key Highlights¹ Excl. Namshi AED Million Q1 2021 Q1 2020 % Change AED Million Q1'21 Q1'20 % Change Revenue 884 963 (8%) GLA (Mn sq. ft.) 6.8 6.6 2% Gross Profit 653 747 (13%) Occupancy Rate % 86% 91% Margin (%) 73.9% 77.6% Base Rent 492 513 (4%) EBITDA 495 547 (10%) Turnover Rent 22 (100%) Margin (%) 56.0% 56.8% Revenue 643 741 (13%) Net Profit 295 342 (14%) EBITDA 505 551 (8%) Margin (%) 33.4% 35.5% Margin (%) 78.5% 74.4% Introduced flexible rent relief policy including tiered base rent waiver till 31 March 2021 Opened Time Out Market² in Souk Al Bahar The Middle East Cleaning, Hygiene and Facilities Awards³ for The Dubai Mall 34\ EMAAR PROPERTIES 1) Transactions after inter company adjustment and including Namshi; 2) In collaboration with Time Out Group PLC; 3) The Best Maintained Public Washrooms#36Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality Emaar Malls (Excl. Namshi) - Historical Trend Rental Income 35\ 3,599 3,647 3,227 3,323 2,992 EBITDA 2,934 2,952 2,676 2,447 2,250 2,192 EMAAR In AED Mn 1,407 2015 2016 2017 2018 2019 2020¹ 2015 2016 2017 2018 2019 20201 Net Profit 2,281 2,334 2,092 1,874 1,656 765 2015 2016 2017 2018 2019 2020¹ EMAAR PROPERTIES 1. 2020 impacted due to Covid-19 rent relief.#3736 | Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Namshi Key Highlights - Namshi Revenues 1 (AED Mn) CAGR 24% 555 440 849 730 1,028 Namshi Key Statistics 2 1,316 Net Merchandise Value + 6% 2015 2016 2017 2018 2019 2020 Gross Margin 36% Active Customers + 4% Online Traffic + 30% Number of Orders + 9% Instagram Followers + 21% EMAAR PROPERTIES 1) Included in Emaar Malls Financial Results starting from 16 August 2017; 2) For Q1 2021#38Consolidated Results UAE Development International Development Emaar Malls Emaar Hospitality EMAAR Emaar Hospitality - Key Highlights AED Mn Q1'21 Q1'20 % Change Q1 2021 Revenue Breakup Occupancy Rate (%)* 62% 70% Room Revenue RevPar (AED)* 388 522 (26%) Room Revenue 105 146 (28%) 35% F&B and Other Revenue Others 39% F&B and Other Revenue 167 184 (9%) 301 M Total Revenue¹ 301 365 (18%) EBITDA 105 168 (38%) 26% Margin (%) 35% 46% Key Highlights • Achieved higher than market average ADR and Occupancy 37 | • • Market leading Hygiene & Safety standards endorsed by Dubai Tourism, Address Downtown featured in the new Dubai Tourism promotional video Al Alamein, managed by The Address Hotels & Resorts was rated as Top 1% hotels worldwide as per Trip Advisor in 2020 Emaar Hospitality Resilient, Outperforming the Broader Hospitality Market in UAE (*) Refers to all hotels including Armani & Rove Hotels, the same is for the operational period (1) Revenue includes revenue from sale of hotel units under Rove City Walk based on EMAAR PROPERTIES POC (Q1'21: AED 29 Mn and Q1'20: AED 35 Mn)#39Annexure#40Emaar Group - Divisions Overview EMAAR UAE Development Leading master plan developer in Dubai • JVs with GRES • Over 48,400 residential units delivered since 2002 Projects under construction substantially sold (~86%) • 343.62 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 JVs with strong local partners c.26,300 residential units delivered since 2006 • Achieved overall sales level of 89% • • c. 1.3 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 • Emaar Malls Emaar Malls PJSC is listed on DFM since October 2014 • Owner and operator of • the most visited mall in the world, The Dubai Mall Portfolio of over 7 mn sq. ft of GLA in retail properties in Dubai • • Emaar Hospitality Hotel owner and operator (28 hotels with 6,038 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 50 hotel projects in its portfolio (includes both in operation and under development hotels) • • • Entertainment & Leasing Provider of premium entertainment and manager of leisure assets Operator of the Dubai Aquarium, Underwater Zoo, Reel Cinemas, KidZania, VR Park, Dubai Ice Rink and At The Top. Owner and operator of Dubai's iconic cultural destination "Dubai Opera" • Portfolio of over 2.3 mn sq. ft. of GLA in commercial properties in Dubai 40 | EMAAR PROPERTIES#41EMAAR UAE Development - Projects Overview Downtown Dubai All under-construction projects (including BLVD Heights, Vida Residence, Downtown Views, and Grande), inventory and undeveloped land for sale 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 Wholly-owned projects Dubai Marina Two waterfront residential/commercial towers, near to Bluewaters Island, and the newly-developed Vida serviced apartments tower 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 Land bank (100% owned) Al Marjan Ras Al Khaimah A project of c.1m sqft of land located at the top of Al Marjan Island ideal to build 5 stars hotel and service apartments Lusaily A contiguous land parcel of 46m sqft subdivided into two plots located between Dubai Investment Park and Jumeirah Golf Estates in Dubai 41 EMAAR PROPERTIES#42UAE Development - Projects Overview 100% Consolidated JV EMAAR JVS/JDAs with 50% share Emaar South Zabeel Square Dubai Hills Estate 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 Mina Rashid 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 set by historic Dubai Creek Dubai Creek Harbour Joint Development Agreement between Emaar and Dubai Holding for the development of an iconic mixed-use waterfront project situated on the banks of the historic Dubai Creek 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 42 | EMAAR PROPERTIES Zabeel Square#4343 | UAE Development - Projects Under Development EMAAR % Remaining Collections of Sold Value Project Value Project (100% Owned) Units (AED Mn) (1) Downtown Dubai 7,494 24,540 Are a (SQF) 8,840,792 Launch Period % Unit Sold % Value Sold % Collected of sold value % Completion % Gross Margin Mar-21 Total Mar-212 Till Handover Post Handover 92% 86% 41% 44% 59% 36% 23% Opera Grand Residential Tower 295 2,131 519,480 May-14 82% 76% 56% 88% 59% 44% 28% 16% The Downtown Views 478 1,236 573,081 Apr-15 99% 99% 75% 98% 44% 25% 16% 9% Forte 919 2,637 1,064,212 Apr-Sep-15 90% 85% 45% 78% 36% 55% 33% 22% Address Opera 866 3,817 1,103,756 Dec-15/ Mar-16 93% 88% 49% 68% 48% 51% 36% 15% Il Primo 118 2,751 701,991 Jun-16 77% 71% 24% 69% 42% 76% 25% 51% Act One Act Two 778 2,118 820,243 Aug-16 91% 89% 32% 71% 39% 68% 28% 40% Downtown Views 2 1,509 3,545 1,613,816 Jan-Apr-17 96% 93% 44% 78% 35% 56% 28% 28% Vida Dubai Mall 620 1,642 606,860 May-Jul-17 95% 95% 39% 41% 41% 61% 49% 12% Burj Royale # 602 989 492,846 Jan-18 99% 98% 31% 52% 45% 69% 68% 1% Grande 882 2,850 958,989 May-18 89% 85% 28% 41% 51% 72% 53% 19% Burj Crown 427 823 385,518 Jan-20 81% 75% 15% 40% 85% 68% 17% Dubai Marina 846 1,919 926,673 99% 99% 64% 36% 36% 30% 6% 52-42 486 1,096 518,969 Apr-16 98% 98% 72% 100% 39% 28% 21% 7% Vida Residence at Dubai Marina 360 823 407,704 Mar-17 100% 100% 55% 68% 32% 45% 40% 5% Arabian Ranches II 426 676 653,538 100% 100% 33% 37% 67% 18% 49% Camelia 258 408 395,658 Oct-18 100% 100% 33% 80% 35% 67% 18% 49% Camelia 2 168 268 257,880 Oct-18 99% 99% 33% 78% 39% 67% 18% 49% Arabian Ranches III 1,501 2,429 2,309,744 82% 78% 23% 21% 77% 34% 43% Sun 431 625 643,125 Feb-19 100% 100% 36% 29% 21% 64% 24% 40% Joy 486 768 740,435 Mar-19 88% 82% 27% 21% 23% 73% 29% 44% Spring 154 240 232,332 May-19 100% 100% 29% 20% 23% 71% 39% 32% Ruba 430 796 693,852 Oct-19 53% 49% 8% 19% 92% 49% 43% Emaar Beachfront 2,570 7,489 2,628,011 84% 81% 25% 35% 75% 49% 26% Beach Vista 460 1,263 484,686 Jan-18 97% 95% 41% 88% 29% 59% 45% 14% Sunrise Bay 457 1,282 470,456 Feb-18 91% 85% 31% 92% 35% 69% 33% 36% Marina Vista 354 863 327,847 Sep-18 99% 99% 30% 49% 37% 70% 42% 28% Grand Bleu Tower 633 2,232 699,385 Apr-19 69% 69% 14% 36% 86% 61% 25% South Beach 270 658 235,318 Sep-19 91% 82% 24% 49% 37% 76% 46% 30% Beach Isle 396 1,191 410,319 Feb 20 66% 72% 20% 37% 80% 54% 26% The Valley 362 498 553,940 85% 83% 19% 27% 81% 48% 33% Eden 362 498 Total 100% Owned 13,199 37,552 553,940 15,912,698 Nov-19 85% 83% 19% 27% 81% 48% 33% 90% 86% 37% 40% 63% 38% 25% #Group's percentage of share is 61.25% EMAAR PROPERTIES 1) Total monetary value of units under development based on expected selling price, 2) Corresponds to gross margin for units sold not necessarily indicative of margin at completion Note: Revenues of project under construction are recognized once 20% construction completion and 20% collection is achieved#44UAE Development - Projects Under Development EMAAR % Remaining Collections of Sold Value Project Value Project (Joint Ventures) Units (AED Mn) (¹) Area (SQF) Launch % Collected of % Completion % Gross Margin Till Post % Unit Sold % Value Sold Total Period sold value Mar-21 Mar-21² Handover Handover Dubai Hills Estates 3,472 7,539 4,500,435 79% 79% 24% 49% 76% 34% 42% Park Ridge 492 707 422,330 Sep-17 89% 79% 31% 97% 48% 69% 18% 51% Club Villas 150 576 368,299 Nov-17 100% 100% 53% 100% 54% 47% 40% 7% Golf Place 158 1,585 923,279 Jan-18 100% 100% 30% 61% 54% 70% 18% 52% Socio 332 278 193,826 Feb-18 100% 100% 31% 78% 36% 69% 69% 0% Collective 473 409 274,790 Mar-18 99% 99% 38% 77% 38% 62% 36% 26% Collective 2 494 456 285,010 Sep-18 78% 73% 26% 71% 35% 74% 18% 56% Golf Suites 211 347 202,994 Nov-18 65% 61% 20% 47% 41% 80% 23% 57% Executive Residences I&II 562 816 463,277 Jan-19 48% 43% 11% 37% 51% 89% 39% 50% Golf Grove 166 577 405,617 Feb-19 100% 100% 28% 88% 55% 72% 26% 46% Golfville 306 308 183,203 Apr-19 51% 44% 13% 40% 87% 51% 36% Golf Place II 128 1,482 777,810 Feb-21 70% 65% 4% 54% 96% 55% 41% Mina Rashid Sirdhana 282 581 300,301 16% 14% 4% 33% 96% 88% 8% 282 581 Total 3,754 8.120 300,301 4,800,736 May-19 16% 14% 4% 33% 96% 88% 8% 74% 74% 22% 48% 78% 35% 43% 1) Total monetary value of units under development based on expected selling price, 2) Corresponds to gross margin for units sold not necessarily indicative of margin at completion, 3) Dubai Hills Estates does not include land plots available for sale Note: Revenues of project under construction are recognized once 20% construction completion and 20% collection is achieved 44 | EMAAR PROPERTIES#45UAE Development - Projects Under Development EMAAR % Remaining Collections of Sold Value Project (Joint Ventures) Units Project Value (AED Mn) (¹) Are a (SQF) Launch % Collected of % Completion % Gross Margin % Unit Sold % Value Sold Total Period sold value Mar-21 Mar-212 Till Handover Handover Post Dubai Creek Harbour 7,064 13,706 7,055,448 83% 73% 29% 31% 71% 41% 30% Creekside 18 500 1,041 555,939 Sep-15 78% 62% 33% 100% 21% 67% 48% 19% Creek Horizon 556 1,092 601,961 Aug-16 74% 60% 30% 100% 29% 70% 39% 31% Creek Gate 490 961 528,287 Jan-17 78% 67% 32% 96% 31% 68% 40% 28% Harbour Gate 513 960 527,348 Feb-17 70% 55% 29% 88% 27% 71% 38% 33% The Cove 280 728 346,176 Mar-17 76% 68% 35% 94% 33% 65% 39% 26% Creek Rise 496 897 496,964 May-17 76% 66% 26% 92% 26% 74% 22% 52% 17 Icon Bay 380 654 370,448 Aug-17 88% 77% 30% 69% 34% 70% 43% 27% Address Harbour Point 800 2,211 843,064 Sep-17 74% 66% 26% 59% 41% 74% 49% 25% The Grand 559 1,237 601,295 Mar-18 94% 95% 43% 76% 41% 57% 52% 5% Breeze 202 335 192,487 Oct-18 100% 99% 27% 28% 31% 73% 38% 35% Sunset 144 237 138,174 Nov-18 96% 94% 31% 31% 31% 69% 39% 30% Palace DCH 587 1,040 540,047 Jan-19 91% 83% 23% 13% 26% 77% 34% 43% Bay Shore 304 352 230,308 Feb-19 97% 94% 28% 23% 20% 72% 39% 33% Summer 300 373 232,570 Apr-19 91% 83% 22% 17% 24% 78% 32% 46% Creek Edge 563 942 515,847 May-19 93% 89% 19% 32% 81% 41% 40% Surf 168 212 131,524 Jun-19 89% 78% 23% 13% 25% 77% 31% 46% Vida Creek Beach 222 434 203,009 Dec-19 70% 59% 16% 33% 84% 56% 28% Emaar South 1,736 2,087 2,464,693 100% 100% 35% 29% 65% 21% 44% Parkside 371 439 509,243 Oct-18 100% 100% 41% 63% 30% 59% 10% 49% Parkside 2 422 505 604,920 Jan-19 100% 99% 35% 28% 31% 65% 20% 45% Parkside 3 365 435 519,318 Feb-19 100% 100% 36% 23% 31% 64% 16% 48% Green View 286 350 413,656 Apr-19 100% 99% 31% 5% 25% 69% 30% 39% Greenview 2 292 358 417,556 Jul-19 100% 99% 27% 4% 28% 73% 35% 38% Total (Joint Ventures) 12,554 23,913 14,320,877 83% 76% 27% 37% 73% 37% 36% Grand Total (100% Owned + JVs) 25,753 61,465 30,233,575 86% 82% 41% 39% 59% 34% 26% 45 | EMAAR PROPERTIES 1) Total monetary value of units under development based on expected selling price, 2) Corresponds to gross margin for units sold not necessarily indicative of margin at completion Note: Revenues of project under construction are recognized once 20% construction completion and 20% collection is achieved#4646 | UAE Development - Completed Projects1 EMAAR Project (100% Owned) Units Project Value (AED Mn) (2) Are a (SQF) % Collected of sold % Remaining Collections % Unit Sold % Value Sold value of Sold Value Downtown Dubai 5,132 20,488 7,593,935 97% 96% 95% 5% Blvd Heights 550 1,809 773,089 90% 84% 81% 19% Address Sky View 551 2,903 984,654 99% 98% 96% 4% Blvd Point 449 1,368 592,675 99% 99% 92% 8% Blvd Crescent 357 1,148 489,233 94% 92% 90% 10% Vida Downtown 344 1,412 492,618 96% 93% 91% 9% Burj Vista 666 1,934 867,737 100% 99% 98% 2% Fountain Views III 208 1,153 357,781 100% 100% 96% 4% Address Boulevard 532 1,935 667,697 100% 99% 98% 2% Burj Khalifa 900 4,645 1,586,013 98% 93% 99% 1% Fountain Views 286 1,071 389,953 100% 99% 98% 2% Fountain Views II 289 1,109 392,485 99% 99% 99% 1% Dubai Marina 164 1,502 644,468 84% 89% 95% 5% Marina Plaza 164 1,502 644,468 84% 89% 95% 5% Emirates Hills 137 425 202,837 95% 95% 98% 2% Vida The Hills 137 425 202,837 95% 95% 98% 2% Arabian Ranches | 33 293 161,326 100% 100% 84% 16% La Avenida II 33 293 161,326 100% 100% 84% 16% Arabian Ranches II 1,547 6,801 4,669,459 98% 98% 92% 8% Reem 216 507 398,804 99% 99% 82% 18% Samara 177 725 467,319 98% 97% 78% 22% Azalea 108 417 264,151 92% 90% 69% 31% Rasha 140 762 523,899 99% 98% 92% 8% Lila 219 871 573,553 100% 100% 95% 5% Rosa Yasmin Polo Homes Palma Casa Total 100% Owned 144 790 543,599 97% 96% 97% 3% 98 555 375,066 96% 95% 95% 5% 71 733 500,316 100% 100% 98% 2% 121 498 334,981 100% 100% 99% 1% 253 944 687,771 100% 100% 99% 1% 7,013 29,509 13,272,025 97% 96% 94% 6% EMAAR PROPERTIES 1) Completed projects with remaining inventory and/or remaining collections, 2) Total Project value of completed projects based on expected selling price#47UAE Development - Completed Projects1 EMAAR Project Value Project (Joint Ventures) Units (AED Mn) (2) Are a (SQF) % Collected of sold % Remaining Collections % Unit Sold % Value Sold value of Sold Value Dubai Hills Estates 6,203 21,424 19,567,006 95% 95% 79% 21% Park Heights I 270 317 216,135 93% 86% 61% 39% Park Heights II 555 651 442,933 96% 92% 62% 38% Sidra 3 339 1,364 881,928 99% 99% 70% 30% Maple 3 562 1,495 1,029,810 98% 97% 74% 26% Sidra 2 422 1,748 1,127,673 99% 99% 84% 16% Sidra 479 2,034 1,303,633 100% 100% 90% 10% Grove and Views 178 2,865 4,173,259 76% 94% 76% 24% Parkway Vistas 61 870 466,172 100% 100% 79% 21% Fairway Vistas 65 986 502,931 100% 100% 82% 18% Maple 2 666 1,748 1,229,258 99% 99% 95% 5% Acacia 537 1,072 677,047 90% 86% 89% 11% Emerald Hills Plots 179 1,307 2,070,763 93% 88% 24% 76% Maple 1 646 1,774 1,215,738 99% 98% 94% 6% The Parkway Plots 117 677 1,411,777 100% 100% 74% 26% Mulberry 676 1,346 858,314 92% 86% 94% 6% The Fairway Plots 118 676 1,628,464 100% 100% 89% 11% Park Point 333 494 331,171 86% 80% 39% 61% Dubai Creek Harbour 776 1,561 867,170 89% 77% 64% 36% Dubai Creek Residences 174 418 236,456 98% 96% 92% 8% Harbour Views 776 1,561 867,170 89% 77% 64% 36% Emaar South 1,425 1,958 1,782,483 72% 61% 78% 22% Urbana I, II, III Golf Views 932 1,043 1,065,804 81% 78% 81% 19% 288 316 253,035 62% 51% 94% 6% Golf links 205 599 463,644 44% 39% 57% 43% Total (JVs) 8,404 24,943 22,216,659 91% 92% 78% 22% Grand Total (100% Owned + JVs) 15,417 54,452 35,488,684 94% 94% 87% 13% 47\ EMAAR PROPERTIES 1) Completed projects with remaining inventory and/or remaining collections, 2) Total Project value of completed projects based on expected selling price#48UAE Development - Location of Development Projects JEBEL ALI FREE ZONE EMIRATES LIVING SHEIKH MOHAMMED BIN ZAYED ROAD DUBAI MARINA PALM ISLAND EMAAR BEACHFRONT DUBAI INVESTMENTS PARK LUSAILY 8 EXPO 2020 DUBAI SOUTH AL MAKTOUM INTERNATIONAL AIRPORT ARABIAN RANCHES I EMAAR SOUTH 1- Not in the perimeter of Emaar Development PJSC 48 | EMAAR PROPERTIES ARABIAN RANCHES II SHEIKH ZAYED ROAD AL KHAIL ROAD THE WORLD ISLAND BURJ KHALIFA EMAAR MINA RASHID AL MARJAN RAK DUBAI FRAME SHEIKH ZAYED ROAD ZABEEL SQUARE AL QUOZ INDUSTRIAL AREA DEIRA THE DUBAI MALL DOWNTOWN DUBAI DUBAI HILLS ESTATE SHEKH MOHAMMED BIN ZAYED ROAD SHOAH ZAYED IN HAMDAN AL NAHYAN STREET EMIRATES ROAD ARABIAN RANCHES 111 HEAR ROAD DUBAI CREEK HARBOUR DUBAI INTERNATIONAL AIRPORT THE VALLEY GARDEN EMIRATES ROAD 100% OWNED WITH MASTERPLAN 100% CONSOLIDATED JVS JVs/JDA WITH 50% SHARE 100% OWNED LAND BANK WITHOUT MASTERPLAN#49UAE Development - Expected Delivery Schedule (Units) Under Development Delivery Schedule Completed Under Development Q1'2021 Apr-Dec 2021 2022 2023 2024 A - Emaar Development (fully consolidated) Downtown* 14,216 7,494 773 3,826 2,895 Emaar Beachfront 2,570 917 624 1,029 Dubai Marina 4,450 846 486 360 Arabian Ranches 4,360 Arabian Ranches II 1,239 426 Arabian Ranches III 1,501 The Valley 362 426 1,071 430 362 Emirates Living (Excluding Land) 14,968 Emaar Towers 168 Dubai Hills Estate 5,668 3,472 333 789 2,249 306 128 Umm Al Quwain 277 282 282 45,346 16,953 333 2,965 7,485 4,916 1,587 Mina Rashid Total - A B-Joint Ventures Dubai Creek Harbour Emaar South Zabeel Square 1,648 7,064 776 2,322 2,252 1,340 1,150 1,429 1,736 371 1,365 Total - B 3,077 8,800 776 2,322 2,623 2,705 1,150 Total (A + B) 48,423 25,753 1,109 5,287 10,108 7,621 2,737 *Downtown includes Burj Royale project (Old Town LLC) 49 | EMAAR PROPERTIES EMAAR#50UAE Development - Land Bank Details. EMAAR Land Bank Evolution through Investments & Strategic Partnerships Year Area 2012 Arabian Ranches II GFA BTS 2011-2020 Multiple ~22x CAGR ~45% 2013 Dubai Hills Estate 2014 Dubai Creek Harbour 2015 Emaar South 369 369 2016 Downtown Views, Ras Al Khaimah 2017 287 287 231 233 234 234 2019 Zabeel Square & Emaar Beachfront Arabian Ranches III, Mina Rashid & The Valley Garden 211 211 198 199 167 Gross Land Area UAE Available Land Bank 114 162 (Million SQFT) UAE wholly owned 167.82 78 Lusaily# 45.98 Ras Al Khaima 0.84 25 13 18 Others (Downtown, Arabian 19.61 Ranches etc.) The Valley Garden 100.79 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Emaar Beachfront 0.61 Dubai Hills 51.04 GFA BTS Gross Land Area BTS Dubai Creek 54.9 No Long Term Need for Land Purchase Note: Cumulative historical GFA BTS not adjusted for GFA developed post 2011 nor GFA currently under development # Not in the perimeter of Emaar Development PJSC Mina Rashid 10.11 Emaar South & others 59.75 Total UAE Available Land 343.62 Bank 50 | EMAAR PROPERTIES#51International Development - Expected Delivery Schedule EMAAR Country Entity Completed Under Development To be developed Cumulative Apr- 2022 2023 2024 2025 till Mar 2021 Dec'21 Subsidiaries Emaar Misr 8,323 6,717 8,371 8,263 1,305 2,851 1,987 1,283 495 溶 Emaar Middle 936 755 55 57 69 East C⭑ Emaar Turkey 985 320 940 254 84 ळ 27 H H Metn 426 135 96 396 145 35 Renaissance EGKL & EDIL 1,477 950 240 1,315 568 287 50 30 36 15 494 3 Emaar India 20,340 3,008 2,078 18,070 2,775 1,417 1,669 782 713 Total 51 EMAAR PROPERTIES 32,487 11,130 10,785 29,739 5,102 4,731 3,782 2,595 1,226#52International Development - Land Bank Details International Land Bank Saudi Arabia (Emaar Economic City)* Saudi Arabia (Emaar Middle East) India (Emaar India) Egypt Pakistan Turkey Lebanon Total Key International Markets *As on 30 Jun 2020 52 | EMAAR PROPERTIES Gross Land Area (Million SQFT) 1,119.41 2.91 151.85 49.72 11.79 5.25 2.00 1,342.93 EMAAR#53JVJDA Accounting Treatment Accounting Dubai Hills - Consolidation P&L 100% consolidation • 50% Minority Interest Balance Sheet 100% consolidation • 50% Minority Interest Mina Rashid - Consolidation 100% consolidation 30% Management Fee Expense 100% consolidation Dubai Creek EMAAR Impact on Return on Capital Neutral impact on ROCE BTS projects - JDA • 50% profit recognised as management fee in revenue BTL/BTO projects - 50% profit recognised based on equity method (base case) Recoverable under joint development agreements Advance for Investments Investments in associates and joint ventures Loans to associates and joint ventures Neutral impact on ROCE Higher ROCE as Development Assets not recognised on company's Balance Sheet Emaar South & Zabeel Square - Equity Method 53 | BTS projects - • EMAAR PROPERTIES 50% profit recognised Management fee recognised in revenue of Emaar Development. . Investments in associates and joint ventures Loans to associates and joint ventures • Higher ROCE as Development Assets not recognised on company's Balance Sheet#54Hospitality Group - Current Portfolio Hotel Emaar Hospitality Group Hotel Portfolio Dubai Armani Hotel at Burj Khalifa Address Downtown Dubai Address Dubai Mall Address Dubai Marina⁹ Address Boulevard⁹ Address Fountain View Address Sky View Address Beach Resort The Palace Downtown Dubai Manzil Downtown Dubai³ & 9 Vida Downtown Dubai4 & 9 Vida Hills Hotel Vida Creek Harbour Management Company Classification Keys Residences in Hotel Pool (5) Operational Armani Hotel Dubai 5 Star 160 23 2010 TAH&R (2) 5 Star 220 193 2008 TAH&R(2) 5 Star 244 256 2009 TAH&R(2) 5 Star 200 34 2009 TAH&R(2) 5 Star 196 NA 2017 TAH&R (2) 5 Star 193 NA 2019 TAH&R(2) 5 Star 169 NA 2019 TAH&R (2) TAH&R(2) 5 Star 217 NA 2020 5 Star 242 ΝΑ 2007 Vida Hotels & Resorts 4 Star 197 NA 2007 Vida Hotels & Resorts Vida Hotels & Resorts 4 Star 156 NA 2007 4 Star 160 NA 2007 Arabian Ranches Golf Club Vida Hotels & Resorts Emaar Hospitality 4 Star 286 NA 2019 Standard 11 NA 2007 Vida Umm Al Quwain Rove Downtown Rove City Center Rove Healthcare City Rove Trade Center Vida Hotels & Resorts ROVE (1) Standard 143 NA 2021 3 Star 420 NA 2016 ROVE (1) 3 Star 270 NA 2016 ROVE (1) 3 Star 286 NA 2017 ROVE (1) 3 Star 270 NA 2017 Rove Dubai Marina Rove At The Parks ROVE (1) 3 Star 384 NA 2018 ROVE (1) 3 Star 579 NA 2019 Rove La Mer International Armani Hotel at Via Manzoni (Milan, Italy) Other Emaar Group Hotels (6) International Novotel (Hyderabad, India) Al Alamein Hotel (Marassi, Egypt) Verdi Hub (Marassi, Egypt). Blanca (Marassi, Egypt) Address Marasi (Marassi, Egypt) ROVE (1) 3 Star 366 NA 2020 Armani Hotel-Milan 5 Star 95 2011 Accor TAH&R (2) 5 Star 288 NA 2006 4 Star 187 + 2(7) NA 2007(8) 19 NA 2020 30 NA 2020 TAH&R (2) 48 NA 2020 54 | 1) Rove is joint venture with Meraas Holding 2) TAH&R: The Address Hotels and Resorts 3) Formerly Al Manzil Hotel; reopened after renovation on December 15, 2014 4) Formerly Qamardeen Hotel; reopened after renovation on June 16, 2013 5) Residences in the Hotel Pool are operated by Emaar Hospitality like hotel rooms, on behalf of unit owners, for a % of revenue EMAAR PROPERTIES 6) Other Emaar Group Hotels are not operated by Emaar Hospitality Group 7) Al Alamein Hotel includes 187 rooms and 2 villas 8) Al Alamein Hotel is a landmark Egyptian hotel operating since 1964 and acquired by Emaar in 2007 9) Emaar maintains management rights only EMAAR#55EMAAR Hospitality Group - Hotels / Service Apartments Under Development¹ Serviced Estimated Hotel Location Launch Keys 2 Apartments Completion Rove City Walk City Walk 2018 3 564 NA 2021 Vida Dubai Marina Dubai Marina 2017 158 360 2022 Vida Dubai Mall Downtown 2017 195 380 2022 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 3) Portion of rooms keys are sold to customers on hotel management agreement basis 55 EMAAR PROPERTIES#56Fair Valuation Overview - GAV By Segment December 2020 Fair Value Split December 2020 Book Value Split 1% 22% 4% 6% 43% 34% 3% 1 1% 5% 37% EMAAR 24% 20% Total AED 118 Bn Total AED 179 Bn ■ UAE Development ■Retail & Leasing ■ Associates ■International Development Hospitality ■ UAE Development Retail & leasing ■ Others ■ Associates 56 | EMAAR PROPERTIES Market Value of Assets is over 1.5x of the Book Value ■International Development Hospitality ■ Others Fair valuation is carried out by CBRE, JLL and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above do not include fair value of unconsolidated JVs and JDAS except those that are listed associates & JVs.#57Fair Valuation Overview - GAV By Segment (Cont'd) GAV: Development Properties GAV: Fixed Assets EMAAR 2020 2019 2020 2019 AED Million Book Fair Value Value UAE Book Value Value 21,962 37,586 22,365 36,644 Fair Book Fair Book Fair AED Million Value Value Value Value Hotels & Egypt 5,415 8,778 4,102 7,523 5,491 7,309 4,967 6,905 Convention Center Turkey 1,199 1,516 1,167 1,753 India 9,744 12,261 10,952 12,816 District 636 636 678 678 KSA 704 892 722 944 Cooling Plant Pakistan 539 2,094 759 1,869 At The Top 251 251 271 271 USA 499 494 621 616 Leisure & 967 967 762 762 Lebanon 554 847 661 1,011 Entertainment Morocco 299 466 302 517 Other Assets 2,933 2,933 4,222 4,222 Syria 18 18 53 52 Total 40,933 64,952 41,704 63,745 Total 10,278 12,096 10,900 12,838 57 Fair valuation is carried out by CBRE, JLL and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above do not include fair value of unconsolidated JVs and JDAS except those that are listed associates & JVs. Note: In Q1'21 revenue recognition policy of Emaar Egypt has been changed retrospectively from over a period of time to point in time method due to recent contract enforcement trends, legal opinions and industry practice. Accordingly, the prior periods numbers have been restated. EMAAR PROPERTIES#58Fair Valuation Overview - NAV Table EMAAR In AED Mn 2020 2019 Book Value Fair Value Book Value Fair Value Cash and bank balances Trade and Other Receivables Development Properties 6,271 6,271 6,796 6,796 27,277 27,277 25,815 25,815 40,933 64,952 41,704 63,745 Investment in Associates and Joint Ventures 4,854 5,344 4,923 5,057 Securities and Loans to Associates and Joint Ventures 4,022 4,022 3,843 3,843 Investment Properties 22,319 56,985 21,905 65,974 Fixed Assets 10,278 12,096 10,900 12,838 Intangible assets 755 755 767 767 Assets Held for sale 669 669 Right of use assets Total Assets 1,269 1,269 823 823 117,978 178,971 118,145 186,327 Total Liabilities (incl. Minority Interest) Net Asset Value Number of Shares Outstanding (in Million) Net Asset Value per Share (AED) (62,459) (75,282) (64,696) (79,278) 55,519 103,689 53,449 107,049 7,160 7,160 7,160 7,160 14.95 Note: In Q1'21 revenue recognition policy of Emaar Egypt has been changed retrospectively from over a period of time to point in time method due to recent contract enforcement trends, legal opinions and industry practice. Accordingly, the prior periods numbers have been restated. 7.75 14.48 7.46 58 EMAAR PROPERTIES Fair valuation is carried out by CBRE, JLL and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above do not include fair value of unconsolidated JVs and JDAS except those that are listed associates & JVs.#59Group Structure DOMESTIC REAL ESTATE INTERNATIONAL MALLS EMAAR PROPERTIES (3) HOSPITALITY EMAAR COMMUNITY MANAGEMENT LEISURE & ENTERTAINMENT OTHERS EMAAR BOSA EMAAR ASSET DEVELOPMENT PJSC (3) (80%) EME (100%) EEC (30.6%) (6) EGYPT (4) EB.74) EMAAR MALLS (3) (84.6%) EMAAR HOSPITALITY CROUP (100%) EMAAR HOTEL & RESORTS (100%) DISTRICT COOLING MANAGEMENT AT THE TOP (100%) (100%) (100%) EMAAR ENTERTAINMENT (100%) HAMPTONS MENA (100%) EMAAR BAWADI (5) 150% JV WITH DUBAI PROPERTIES) DUBAI HILLS ESTATE (1) (5096) EMAAR INDIA (7796) EMAAR AFIC JV (74%) EMAAR LEBANON (65%) NAMSHI (100%) ROVE HOTELS (50%) IV WITH MERAAS) MIRAGE LEISURE & DEVELOPMENT (1009) EMAAR DUBAI (1 & 5) SOUTH DWC (506) EMAAR TURKEY EMAAR MOROCCO (100%) (100%) DWTC EMAAR LLC (5096) ZABEEL SQUARE (1 & 5) (50%) EKO TAMALI (5) EMAAR AMERICA (50%) (100%) TURNER MINA RASHID (1) INTERNATIONAL ME (5) (6596) (70%) EMAAR PAKISTAN ECKL (100%) & EDIL (100%) 59 | EMAAR PROPERTIES EMAARICO SYRIA (60%) EMAAR JORDAN DEAD SEA TOURISM (5) (100%) (29.33%) Lasted companies DUBAI OPERA (100%) Note: (1) Only built to sell projects are held by Emaar Development and IV partners. Build to lease and operate (BTL/ BTO) projects are directly held by Emaar Properties PJSC, its subsidiaries and JV partners (2) Dubai Creek Harbour is a joint development agreement hence not included in above structure (3) Listed on DFM (4) Listed on EGX (5) Equity accounted joint ventures or associates (6) Listed on Tadawul Exchange AMLAK (35) EMAAR INDUSTRIES & INVESTMENTS (5) (4096) EMRILL (5) (50%)#60Thank You EMAAR EMAAR PROPERTIES Name - Abhay Singhvi 904 Email id- [email protected] CHANEL CHANEL FAUCHON BAUCHON CAFER كافته AAN/DUBA 7599