TAQA FY 2020 Proforma Consolidated Results and Dividend Policy

Generation highlights. Underpinned by contracted power and water generation Strong operational performance throughout FY 2020 Global technical availability at 93.9% (vs. 93.7% for FY 2019) Stable financial performance for contracted business Overall power and water generation revenues of AED 12.3bn (-3% y/y) - Higher revenues for contracted UAE business . Down 16% for international power 1. Reduced demand and lower production at our single merchant asset (Red Oak, USA), and 2. Lower fuel reimbursement revenues (on falling fuel cost trend and lower production) largely offset by lower corresponding operating expenses EBITDA of AED 7.6bn (+1% y/y) - Up 5% for UAE sub-segment Down 20% for international power and water reflecting Red Oak losses Net income contribution to the Group of AED 999mn (+83% y/y) Reflecting higher EBITDA, lower finance costs and other gains (EPC claims won) Generation highlights (AED million) Global technical availability (%) FY 2019 FY 2020 Revenues 93.7% 93.9% FY 2019 FY 2020 12,669 12,314 EBITDA FY 2019 7,481 59% margin FY 2020 7,557 61% Net income (consolidated) FY 2019 545 FY 2020 999 CAPEX FY 2019 687 FY 2020 483 41 TAQA

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