Investor Presentaiton

ACC Growth Trajectory: Illustrative FY2023 EBITDA Build-Up SAR MM 1,402¹ Near-term pipeline of 3 malls and 1 extension Target opening dates: University Boulevard & Dammam Airport Mall - September 2019 Nakheel Extension 1 - November 2019 Khaleej Mall - December 2019 • Targeted minimum c.70% occupancy at opening; expected ramp-up within 2-3 years • c. 430-480 Expected to start contributing to EBITDA from FY2021 c.SAR500m additional contribution once all assets (mainly Mall of Arabia, Riyadh and Jawharat Jeddah) are fully ramped-up Targeted minimum c.70% occupancy at opening and expected to ramp-up to 90% occupancy by FY2023 and stabilizing to 95% thereafter c. 650-700 c. 3,600 c. 235 c. 850 IFRS 16 Impact c. 600 LFL growth of existing portfolio from FY2018 to FY2023 • 6-8% p.a. combined with expected margin improvements, translates to c.SAR600m of incremental EBITDA • Medium-term pipeline of 4 malls and 1 extension • Target opening dates: - Najd Mall 1st half FY2021 Zahra Mall 1st half FY2022 Nakheel Extension (Phase II) - 1st half FY2022 Mall of Arabia, Riyadh - 1st half FY2023 Jawharat, Jeddah - 1st half FY2023 • Targeted minimum c.70% occupancy at opening; expected ramp-up within 2-3 years FY2018 LFL Growth of Existing Portfolio All financial years are ending 31 March - All data are post IFRS 16 (i.e. Pre-land lease cost) except FY2018 1 Based on SOCPA Arabian Centres Company. Investor Presentation Near-Term Pipeline Jeddah Park (Opening Apr-2020) Medium Term Pipeline FY2023 27

View entire presentation