Investor Presentation

Dubai: Positioning for future growth Dubai property prices growth 60 40 20 (20) 0 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Real estate transactions Existing properties ■ Off plan -Villas Apartments 35,000 Jun-18 Dec-18 Jun-19 30,000 25,000 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 20,000 15,000 Jun-22 10,000 Dec-22 5,000 0 Dec-17 Dubai Tourists (in millions) II. 2018 2019 2020 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco Q1 2019 Q3 2019 Q1 2020 Q3 2020 Q1 2021 Q3 2021 Q1 2022 Q3 2022 Q1 2023 Q3 2023 Dubai occupancy rates and RevPAR Occupancy rate (%, lhs) RevPAR (USD, rhs) 100 150 90 120 80 70 60 50 40 30 20 IIIM 90 60 30 0 -30 2021 2022 Aug-23 2016 2017 2018 2019 2020 2021 2022 12

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