Investor Presentaiton

Near-Term Pipeline Total c.301k sqm GLA Addition c.50% Pre-let as of January 2019 Location Ownership GLA (sqm) Jeddah Park University Boulevard Nakheel Dammam Mall Nakheel Extension 1 Khaleej Mall KHALEEJ Jeddah Riyadh Dammam Riyadh Riyadh Leasehold 128,740 Leasehold Freehold Leasehold Freehold c. 52,000 c. 53,000 c. 52,000+16,000 extension c. 51,000 Pre-lease Status 10% Pre-leasing process 75%+ (1) to be started 65% (1) 30% Starting April/May 2019 25% Starting April/May 2019 % Completion(2) Target Opening Date 62% April 2020 +500% Expected Yield on Cost(3) (cash payback < 1 year) 1) Based on heads of terms agreed with tenants 2) Based on billing as of 10-Apr-2019 3) 95% 80% September 2019 September 2019 15%-20% 20% 63% November 2019 December 2019 Expected Yield on Cost is derived on the basis of stabilized expected EBITDA (Net of lease expense for leasehold) divided by Total Development Cost (including land for freehold) where Total Development Cost defined as the capital expenditure incurred and the land cost Arabian Centres Company. Investor Presentation 28

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