Robust Business and Operating Model

Conclusion Key Highlights Partner of choice across GCC for providing environmentally friendly cooling solutions Resilient Business Model Capacity Growth Robust Financial Performance Operational track record of > 20 years A utility-like service considering the warm climate of the Middle East Long-term partnerships ensures better revenue and cashflow visibility The pass-through clauses in most of Tabreed's contracts limit its exposure to fluctuations in the cost of utilities One of the world's largest district cooling companies providing over 1.4m KRT of cooling across the GCC ■ Added over 180k RT in 2020 through acquisition of Downtown DCP, Masdar and Saadiyat Island DC assets, All acquisitions have additional concession capacity to augment future growth Guided 120k RT of organic growth over 2021 and 2022 Revenue and EBITDA growing at a 2016-2020 CAGR of 8% and 14%, respectively Consistent focus on increasing efficiency has resulted in margin enhancement to 56% in 2020 compared to 46% in 2016 Committed to returning value to shareholders, maintained dividend payout Resilient Business Model ☐ 向 ☐ Strong Cash Flow Visibility Solid Corporate Governance Established a district energy investment platform in Singapore with IFC that will invest in district cooling in India and other South East Asian countries Developing and connecting Masdar and Tabreed infrastructure to help increase operating synergies Energy Services established strategic partnership with ADCP to Promote Energy Conservation Long-term partnerships with government-backed entities representing approximately 70% of consolidated chilled water revenue in 2020 Focus on B2B contracts with businesses and government entities reducing counterparty credit and collection risk Cash flow predictability due to long term contracts Listed on the DFM with strong corporate governance driven by Mubadala and ENGIE board members Highly experienced management team driving operational excellence Part of DFM's UAE ESG Index, aimed to measure ESG best practices followed by UAE listed companies | 31 tabreed

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