Investor Presentation Q3 2021

Dubai: Property and tourism sectors continue to recover Highlights Income Expenses Risk Capital Liquidity Macro Divisional Dubai GDP Profile Q1-2021 Other Info. & Comms 4.3% 14.9% Hospitality 4.6% Public Admin. 5.2% Construction. 7.4% Wholesale & Retail Trade 24.3% Fl services 12.8% Transportation 8.3% RE services 8.7% Manufacturing 9.5% Top visitors by nationality % of total • Key Highlights • Data for Q1-21 shows Dubai's economy grew strongly: Wholesale & retail trade growing 2.8% y/y in Q1 21, Financial services up 3.5% y/y, manufacturing up 3.2% y/y and real estate expanding 2.4% y/y. • Visitor numbers reached 3.2 million in the first nine months of 2021. • Hotel occupancy stood at 60% in Jan-Sep, compared with 44% in 2020. • The supply of rooms exceeds pre-covid levels as restrictions on capacity lifted. RevPAR up 48% from 2020 levels on strong demand. Dubai occupancy rates and RevPAR (Jan-Sep) 1000 in thousand tourists 800 865 600 400 200 ■ 2020 100 Jan-Aug 2021 80 60 Lш 0 435 296 400 392 150 120 90 40 60 75.4 75.6 73.9 72.9 60.4 20 43.5 30 236 191 149 145 166 170 0 138 117 95 2016 India Russia USA KSA France Egypt UK 2017 2018 2019 Average hotel occupancy rates (LHS) 0 2020 2021 Average revenue per available room RevPAR (RHS) Source: STR Global, Bloomberg, DTCM, Dubai Statistics USD 23

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