Robust Business and Operating Model

Financial Overview Headline Performance 1 Long-term contracts with credit worthy customers 2 Revenue growth from existing and new business 3 Solid financial performance • • . • • Providing over 1.40m RT of cooling across GCC – grown at 9% CAGR since 2018 Long term contracts (~25 years) mean over 90% of contracted capacity locked in for at least the next 10 years About 80% of revenues from wholly government owned and partially government owned entities Group revenue growing at 9% CAGR since 2018 driven by Chilled Water revenue growth of 9% Utility business model leads to steady increases in revenue and profitability from existing customers Added over 190k RT of capacity through acquisitions in 2020. These acquisitions have additional concession capacity Predictability in earnings driven by capacity charge • Profit from operations growing at 12% CAGR since 2018 • EBITDA has grown 15% annually since 2018 4 Value to EBITDA margin of 63% shareholders • Strong balance sheet • Stable cash flow generation • Dividend of 11.5 fils (cash + equity value), up from 10.5 fils in 2019 Group Connected Capacity (KRT) UAE Other +9% p.a. 1,345 1,094 1,134 1,405 399 405 321 358 772 776 946 1,000 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Chilled Water Value Chain +9% p.a. 358 274 16 297 21 294 17 18 339 259 276 277 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Profit from Operations| EBITDA Net Income +15% p.a 227 170 178 149 135 97 110 78 105 80 82 86 Financial Results Group Revenue (AED m) (AEDM) Q1 2018 Q1 2019 Q1 2020 Q1 2021 53% Gearing Net Income Margin 24% 28% Operating Profit Margin EBITDA Margin 38% 36% 663% Q1 2021 ■Q1 2020 | 23 Otabreed

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