TAQA H1 2021 Results - Energy Transition and Financial Performance

FY 2020 results - - summary Significant COVID-19 impact on oil and gas segment absorbed by expanded utilities business Full year proforma consolidated financials post ADPower asset transfer Strong operational performance amidst COVID-19 circumstances • High technical availability levels maintained for power and water businesses Oil and gas production slightly lower on delayed drilling campaigns Financial performance significantly impacted by lower commodity prices . Revenue of US$ 11.2bn (-6% y/y) . EBITDA of US$ 4.4bn (-13% y/y) with margin compression to 39% (from 42% FY 2019) reflecting lower margins in the Oil & Gas segment Net profit (TAQA-share) of US$ 759mn for FY 2020 . Driven by lower revenues partially offset by lower operating and administrative expenses Further impacted by Q1 2020 impairment charges partially offset by lower finance costs (debt amortization and floating rate RCF) and other gains Recommended total dividend of US$ 765mn for FY 2020 implies close to 100% payout Group financial highlights (US$ million) Revenues FY 2019 FY 2020 EBITDA FY 2019 11,953 11,205 4,986 42% margin 39% FY 2020 4,358 Net income (TAQA-share) FY 2019 1,480 FY 2020 759 CAPEX FY 2019 1,359 FY 2020 1,101 Gross debt YE 2019 YE 2020 21,173 20,696 46 TAQA

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