Investor Presentaiton

bersika Attractive Industry Backdrop Driven by Favorable Local Demographic and Lifestyle Trends (I/II) Favorable Macro-economic Drivers Favorable Demographic & Lifestyle Trends PANEROON, Strong Population Growth Steadily Increasing A Young Population Workforce c.1.8% in 2017 52% < 30 yrs in 2018 c.3% in 2019 (f) Cultural predisposition towards shopping as a key leisure activity as well as for family outings Strong gift-giving culture Saudi Arabia³ Hot climate supports a high level of demand for indoor, air-conditioned mall environments as a leisure destination Saudi Arabia's modern retail market remains largely underpenetrated with long-term growth prospects 2017A Market Share of GCC Retail Sales 2018A Retail Mall GLA per capita (sqm) (1) UAE Qatar 8.6% Kuwait 1.0% Oman 0.5% Bahrain 0.3% 23.8% 65.9% Dubai Saudi Arabia is the largest retail market in the GCC, almost double the size of the retail market in Abu Dhabi 00 1.2 1.1 International Benchmark (2) 1.1 Oman 0.6 the UAE and is expected to grow by Saudi 123 0.4 Arabia CAGR of 5% between 2019 and 2021 Kuwait 0.3 Bahrain 0.1 Low organized retail supply relative to the GCC and international markets creates significant untapped potential for quality modern retail spaces Source: Oxford Economics, JLL Market Study, Middle East Council of Shopping Centres (2018), International Council of Shopping Centres Retail mall GLA includes shopping centres/malls and quality strip malls but excludes independent standalone stores. (2) As identified by the International Council of Shopping Centres. (3) For only the four major cities i.e. Riyadh, Makkah, Jeddah and DMA 1) Arabian Centres Company • Investor Presentation 10

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