Robust Business and Operating Model

Financial Overview Income Statement • • Key Observations Increase in revenue primarily driven by robust performance of Chilled Water business, offset to some extent due to underperformance of Value Chain business Chilled Water business growth driven by consolidation of Downtown DCP, Masdar and Saadiyat Island DC assets Administrative and other expenses reduction driven by savings in G&A EBITDA growth primarily driven by consolidation of acquisitions from 2020 Higher finance cost due to new loans to fund acquisitions, partly offset by hedging and lower interest rates compared to last year Share of associates & JV down due to higher one-off gain in the previous year Consolidated Financials (AED m) Q1 2021 Q1 2020 Variance % Revenue 358 294 63 21.5% Chilled water revenue (95%) 339 277 62 22.3% Value chain businesses (5%) 18 17 1 7.8% Operating cost (170) (131) (38) 29.3% Gross Profit 188 163 25 15.2% Gross profit margin 53% 55% Administrative and other expenses (53) (58) 5.0 (8.5)% • Profit from Operations 135 105 30 28.4% Operating profit margin 38% 36% • Net finance costs (61) (42) (19) 44.8% Share of results of associates and joint ventures 12 14 (2) (11.8)% • Other gains and losses (2) 1 (4) Income attributable to non-controlling interests (5) (1) (3) Profit from discontinuing operations 7 6 1 25.8% Net Income 86 82 3 4.0% Net Income margin 24% 28% EBITDA EBITDA margin 227 178 49 27.3% 63% 61% | 24 tabreed

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