22 December, 2019 – Abu Dhabi, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading international district cooling developer based in the UAE, has acquired an additional 8 percent stake in Saudi Tabreed, its district cooling investment vehicle in Saudi Arabia held jointly by Vision Invest, IDB Infrastructure Fund II of the Public Investment Fund of Saudi Arabia and others, bringing its ownership up to 28 percent.Khaled Al Qubaisi, Tabreed’s Chairman, said: “This acquisition underscores our commitment to supporting and fulfilling the current and future infrastructure needs of large scale developments throughout the Middle East and further cements our position as a leading international district cooling developer. Within Saudi Arabia, district cooling is becoming a vital part of complex urban infrastructure developments and we are pleased to be able to support the achievement of Saudi Vision 2030.”“Saudi Tabreed currently provides and operates 187,000 RT of cooling to projects including Jabal Omar Development in Mecca, ARAMCO in Dahran and King Abdullah Financial district. With the rapid growth and urbanization of the largest market in the GCC, Tabreed’s acquisition of an additional stake in Saudi Tabreed amounting to SAR 129 Million will further enhance its ability to capitalize on new business opportunities.” Al Qubaisi concluded.In line with the Saudi Vision 2030 and its strategic objectives of developing a vibrant society, thriving economy and ambitious nation, Saudi Tabreed works with the public sector through long term Build-Operate-Own-Transfer frameworks to optimise energy consumption by providing innovative district cooling solutions.Delivering on this, Saudi Tabreed announced the commissioning of the district cooling plant at the King Khalid International Airport phase 1 in Riyadh with a total capacity of 20,000RT serving terminals 1 to 4 on exclusive basis.Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “We are delighted to contribute to our affiliate’s continued growth within the Kingdom by increasing our stake to 28%. The concession of 20K RT demonstrates our commitment to the Saudi market where, as published in the Global Market Insight Inc., district cooling is set to exceed USD 1 billion by the next five years”.“Tabreed is enabling businesses in the Kingdom of Saudi Arabia to enhance their energy efficiency, reduce costs and meet their sustainability objectives by integrating advanced technology, operational excellence and the latest innovation in district cooling into its solutions.” Added Al Lamki.Saudi Tabreed has formed multiple joint venture companies in partnership with regional and local players. Its subsidiaries and project companies include Saudi Dhahran District Cooling Company (SDCC), Central District Cooling Company (CDCC) and the Operation and Maintenance for District Cooling Systems (STOM). Current contracted projects include Saudi Aramco, Jabal Omar Development Project in the Holy City of Mecca, King Abdullah Financial District and the King Khalid International Airport.With over two decades of operational excellence, Tabreed is the partner of choice for organizations interested in benefiting from environmentally friendly district cooling solutions that support the region’s achievement of the Sustainable Development Goals. With 76 district cooling plants located throughout the region, Tabreed currently delivers over 1.16 million refrigeration tons to key developments including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Dubai Metro, Ferrari World Abu Dhabi, Yas Water Park, Abu Dhabi’s Al Maryah Island, Bahrain Financial Market in the Kingdom of Bahrain and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

28 November, 2019 – Abu Dhabi, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading international district cooling developer based in the UAE, celebrates hitting 10 million safe work hours without Lost Time Injury (LTI).The accomplishment is a result of Tabreed’s compliance with the highest international standards of safety and operational excellence, its commitment to maintaining a robust Health, Safety & Environment (HSE) culture, and its continuous implementation of workplace safety improvement programs.Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “Managing safety is never an easy task as it requires full commitment from all stakeholders to secure great results. This achievement was made possible by the collective efforts of all our employees, who established values and attitudes aiming to promote and maintain safety culture across the business.”“We are proud of achieving this milestone given the large scale of our operations, spanning five countries with 75 plants.” He added.Tabreed is committed to further enhancing its HSEQ culture, led by the company’s leadership who recognizes the importance of empowering employees at every level of the business to ensure their own safety and the safety of other employees and partners through a range of best practices and tools that enable the identification of potential incidents prior to their occurrence.“In the journey towards excellence in HSE culture, Tabreed personnel not only manifested the core value ‘Commitment to HSE’ but also strengthened their excellent workmanship with appropriate techniques to identify and mitigate existing and foreseeable risks. This was a team objective and one Tabreed wouldn’t have achieved, if not for the hard work and efforts from all our employees and partners.” Said Sabooh Asghar, Vice President of HSEQ at Tabreed.Earlier this year Tabreed was accredited with the ISO 50001 standard and was integrated with Tabreed’s existing health, safety, environment and quality management system. The ISO standard provides one of the best practice model and global benchmark for climate and clean energy action by helping companies to improve energy performance, consumption and sustainability. Prior to being certified on this standard, Tabreed had been accredited with the ISO 9001:2015 standard for quality management system, ISO 14001:2015 standard for environmental management system, and OHSAS 18001 for occupational health and safety management systems.For more than 20 years, Tabreed has been the partner of choice for organizations across the world in providing environmentally friendly district cooling solutions that support the region’s energy sustainability strategy. With 75 district cooling plants, Tabreed currently delivers over 1.16 million

Moody’s reaffirms Tabreed’s Credit Rating03 November, 2019 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading international district cooling developer based in UAE, released today its consolidated financial results for the first nine months of 2019, reporting an increase of 3.1% in the net profit to AED 329.1 million.The company continues to meet the growing demand for district cooling solutions and has recently commenced supplying 12,000 RT of cooling services to the expansion of the Galleria Mall Al Maryah Island, covering an area of 1.4 million square feet. This new connection comes as part of Tabreed’s long-term concession, as the exclusive provider of district cooling services for landmark developments on Al Maryah Island through a partnership with Mubadala Infrastructure Partners (MIP).Financial highlights – nine months ended 30 September 2019: Net profit attributable to the parent increased by 3.1% to AED 329.1 million (Q3 2018: AED 319.3 million) Group revenue increased by 3.5% to AED 1,127.9 million (Q3 2018: AED 1,090.0 million) Core chilled water revenue increased by 3.8% to AED 1,073.1 million (Q3 2018 AED 1,033.7 million) EBITDA increased by 11.2% to AED 562.5 million (Q3 2018: AED 505.9 million) Share of results of associates and joint ventures decreased by 1.2% to AED 69.8 million (Q3 2018: AED 70.7 million)Operational highlights – nine months ended 30 September 2019: In the first three quarters of the year, total Group connected capacity across the GCC increased to 1,161,227 Refrigeration Tons (RT), with 29,848 RT of new customer connections added and one new plant in Oman has become fully operationalEnvironmental highlights – nine months ended 30 September 2019: Contributed to saving 1.56 billion kilowatt/hours across the GCC – enough energy to power approximately 88,846 homes in the UAE annually These power savings prevented the release into the atmosphere of 932,699 metric tons of carbon dioxide – the equivalent of eliminating the emissions from 202,761 vehicles annuallyKhaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “Tabreed’s continued growth demonstrates its ability to consistently deliver stable results, drive shareholder value further and reinforce our standing as the leading international district cooling developer. We are committed to providing energy-efficient, cost-effective and environmentally friendly cooling solutions and contribute to the initiatives aimed at reducing carbon footprint in the region and preserving the environment and natural resources for present and future generations.”Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “Tabreed has delivered another strong set of financial and operational results, with net income increasing by 3.1%, reflecting our solid group performance. The stable growth in our connected capacity enabled us to deliver consistent results and tangible returns. Additionally, Tabreed’s strong financial position qualifies it to capitalize on growth opportunities, as reaffirmed by Moody’s, who had recently published its credit opinion that is a strong endorsement of Tabreed’s robust business model. Tabreed investment grade rating (Baa3) by Moody’s was supported by resilient cash flows from long-term fixed charge contracts, low operating risk levels, strong market position in the Middle East and complementary shareholders.”“Tabreed is committed to providing energy-efficient and sustainable cooling solutions that have become an integral part of the infrastructure for major developments across the region. On this front, we are proud to deliver our services to Al Maryah Island and the expansion of the Galleria Mall. This new connection confirms our customers’ trust and confidence in our innovative, efficient and reliable cooling solutions.” He added.For over 20 years, Tabreed is the partner of choice for organizations interested in benefiting from environmentally friendly cooling solutions that support the region’s sustainable development goals. With 75 district cooling plants, Tabreed currently delivers over 1.16 million refrigeration tons to key developments, including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Al Maryah Island, Yas Island and Ferrari World in Abu Dhabi, Dubai Metro, the Bahrain Financial Harbour in Manama, Kingdom of Bahrain and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

The National Central Cooling Company PJSC “Tabreed,” the global leading UAE-based district cooling developer, participated in the United Nations Climate Action Summit 2019 and related side events, which took place in New York City, USA from 21 – 25 September 2019.The summit brought together international stakeholders from the public and private sectors under the theme ‘A Race We Can Win. A Race We Must Win’ to discuss means of accelerating actions to implement the Paris Agreement on Climate Change by focusing on energy transition, climate finance and carbon pricing, industry transition, nature-based solutions, infrastructure, cities and local action, resilience and adaptation.Through its participation in the “We Will: Efficient, Clean Cooling for All” side event, Tabreed demonstrated its leading role in providing environmentally friendly district cooling solutions that support sustainability initiatives and strategies at the local, regional and global levels and also proved its significant contribution to the UN Sustainable Development Goals, the UAE Energy Strategy 2050 and the primary objectives of the National Climate Change Plan adopted by the UAE Ministry of Climate Change and Environment (MOCCAE).Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “Climate change is a universal challenge and a defining issue of our time that requires innovative technologies and collaboration between governments and the private sector to address. 2018 was the fourth-warmest year on record, highlighting the fact that sustainable cooling solutions have become an essential necessity in the face of these climate challenges. We need to provide sustainable cooling at speed and on a large scale.”“Our participation in the UN Climate Action Summit 2019 underscores Tabreed’s leadership in the district cooling industry for over 20 years, through its innovative and environmentally friendly district cooling solutions that contribute to achieving the sustainable development goals. We were pleased to have the opportunity to meet new business partners and discuss industry best practices, innovative solutions and the latest trends within the sector,” added Al Lamki.On the side-lines of the summit, Tabreed also participated in the launch of the Cool Coalition – the global network that connects over 80 partners from the private sector, government, cities, international organizations, finance, academia and civil society.Tabreed is committed to investing in cooling efficiency innovations in seven countries, including India, where demand is growing and a significant opportunity exists for energy savings such as those delivered by district cooling. In 2018 alone, Tabreed contributed to saving 1.97 billion kilowatt/hours, preventing the release of 986,000 metric tons of CO2.For over 20 years, Tabreed remains the partner of choice for organizations across the world in providing environmentally friendly district cooling solutions that support the region’s energy sustainability strategy. With 75 district cooling plants, Tabreed currently delivers over 1.1 million refrigeration tons to key developments, including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Abu Dhabi’s Al Maryah Island, Yas Island, Dubai Metro, Dubai Parks and Resorts, Bahrain Financial Harbour in Manama, Kingdom of Bahrain and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

Tabreed Bahrain Hosts an Official Delegation from Bahrain Financial Harbour18 August 2019, Abu Dhabi, UAE: Bahrain District Cooling Company B.S.C. “Tabreed Bahrain,” a subsidiary of the National Central Cooling Company PJSC “Tabreed,” hosted an official delegation from Bahrain Financial Harbour (BFH), representatives from the United Nations, developers and local media at its district cooling plant in Manama.Dr. Afif AL Yafei, Executive Vice President of the Regional Asset Management, received the delegation and took them on a tour of Bahrain District Cooling Company’s diplomatic area plant, which was commissioned in 2010 in line with the country’s efforts to contribute to the achievement of the UN Sustainable Development Goals (SDGs). It is the first district cooling plant in the region that utilizes seawater, and is significantly more efficient, reliable and sustainable as compared to conventional cooling systems.The seawater system is comprised of a 1.5 kilometre intake line from the Manama Lagoon Area, a 1.4 kilometre outfall line to Bahrain Bay, a 14 kilometre closed loop chilled water distribution system, and an integrated central Supervisory Control and Data Acquisition (SCADA) system to monitor and optimize performance. The closed loop distribution system will enable multiple inter-connected district cooling plants to serve a connected load of 185,000 RT. Currently, the plant serves several major projects in Bahrain, including Bahrain Financial Harbour, World Trade Centre Tower, Reef Island, Moda Mall complex and Avenues Mall.Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “We are delighted to have had the opportunity to demonstrate, on the ground in Bahrain, our innovative technologies and the significant benefits of district cooling in terms of efficiency, reliability and sustainability. Since our inception in 1998, Tabreed has been supporting numerous clients and customers across the region not only meet their cooling requirements but achieve their sustainable development objectives as well. Cooling represents up to 70% of peak energy consumption and district cooling uses only half the energy compared to conventional cooling systems, resulting in tangible benefits for our customers and governments as we collectively work towards achieving the UN Sustainable Development Goals.”Dr. Afif Al Yafei, Tabreed’s Senior Vice President, Regional Asset Management said: “Commissioned in 2010, Tabreed’s Bahrain Plant is the first one of its kind in the region to operate using seawater, indicative of the advanced and innovative technology we have applied across our facilities. The plant serves a variety of customers from business centres to residential housing, delivering industry leading reliability, cost-efficiency, and a significant reduction in energy consumption.”Tabreed Bahrain plays an important role in enabling its customer’s achievement of their environmental and sustainability objectives, by significantly reducing carbon dioxide emissions and energy consumption. Within the region in 2018, Tabreed contributed to saving 1.97 billion kilowatt/hours, preventing the release of 986,000 metric tonnes of CO2 – the equivalent of eliminating the emissions from 214,000 vehicles annually. Tabreed’s operations in Bahrain alone were responsible for preventing the release of 24,500 metric tonnes of CO2, equivalent to eliminating the emissions from 5,000 vehicles annually.Across the region, Tabreed is a partner of choice for organizations interested in benefiting from environmentally friendly district cooling solutions that support the region’s achievement of the UN Sustainable Development Goals. With 75 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, Abu Dhabi’s Al Maryah Island, Yas Island, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

– Tabreed first district cooling company in the region to receive ISO 50001:2018 certification11 September 2019 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based district cooling developer, has received the International Organization for Standardization (ISO) 50001:2018 certification for the successful implementation of its Energy Management System . Tabreed is the first district cooling company in the region to have been certified under the revised version (2018) of the ISO 50001 standard.Tabreed’s Energy Management System, developed in accordance with its operational excellence and due focus on energy efficiency requirements across all its 75 plants in the region, has enabled the company to receive the ISO 50001 certification. This ISO standard is based upon best practices and global benchmarks, and is intended to enable organizations to follow a systematic approach to achieving continual improvement of energy performance, consumption and sustainability.Bader Saeed Al Lamki, Tabreed’s Chief Executive Officer, said: “Being awarded with an ISO 50001 certification is a clear manifestation of Tabreed’s efforts of more than 20 years in optimizing energy efficiency. We are proud of this achievement. Our commitment towards sustainability is evedent through our robust Energy Management System, which is particularly important within the context of the GCC’s growing demand for environmentally friendly cooling solutions”Tabreed also holds the ISO 9001:2015 accreditation for quality management systems, ISO 14001:2015 for environmental management systems, and OHSAS 18001 for occupational health and safety management systems.In the first half of 2019, Tabreed contributed to saving 656 million kilowatt/hours across the GCC – enough energy to power approximately 37,368 homes in the UAE annually. These power savings prevented the release into the atmosphere of 392,000 tons of carbon dioxide – the equivalent of eliminating the emissions of 85,279 vehicles annually.For over 20 years, Tabreed remains the partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions that support the region’s energy sustainability strategy. With 75 district cooling plants, Tabreed currently delivers over 1.1 million refrigeration tons to key developments in the region, including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Abu Dhabi’s Al Maryah Island, Yas Island, Dubai Metro, Dubai Parks and Resorts, Bahrain Financial Harbour in Manama, Kingdom of Bahrain and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

Highlighting its support in developing energy efficient communities28 August 2019, Abu Dhabi, UAE: The National Central Cooling Company PJSC “Tabreed,” will participate in the 24th edition of the World Energy Congress in Abu Dhabi. Held under the patronage of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, the congress is taking place at the Abu Dhabi National Exhibition Centre (ADNEC) from the 9th to the 12th of September, 2019.At the congress, Tabreed will demonstrate the numerous benefits of energy efficient and low-cost district cooling systems. It will also highlight the role in supporting regional countries in sustainable development, as well as showcasing a variety of its projects, initiatives and solutions. Through its participation, Tabreed also looks forward to establishing new partnerships with global players in the industry.Tabreed’s participation comes at a time when cooling is responsible for up to 70% of electricity consumption during peak hours across the region, and global demand for cooling services is set to rise three fold over the next three decades, according to “Cooling our World” study by Strategy& Middle East. District cooling systems represent a unique and beneficial solution to meeting such demands, as they cut energy consumption by half as compared to traditional cooling systems.Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “By integrating advanced technology and the latest innovations in district cooling into its solutions, Tabreed supports the development of energy efficient communities, achieving regional energy strategies in terms of efficiency and reduced costs, while meeting sustainable development goals and objectives. Within the region in 2018, Tabreed contributed to saving 1.97 billion kilowatt/hours, preventing the release of 986,000 metric tons of CO2. This is what we hope to highlight during the World Energy Congress, one of the biggest and most influential gatherings of international experts within the energy sector.”“We are also looking forward to meeting with industry experts at the congress, to discuss the energy sector’s most pressing challenges and highlight our extensive expertise in district cooling, now spanning more than 20 years. Tabreed is proud to provide cooling solutions to major projects across the region, and particularly within the UAE,” added Al Lamki.Across the region, Tabreed is a partner of choice for organizations interested in benefiting from environmentally friendly district cooling solutions that support the region’s achievement of the UN Sustainable Development Goals. With 75 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, Abu Dhabi’s Al Maryah Island, Yas Island, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.Tabreed’s pavilion is located within the Mubadala platform H5-140, Atrium Hall.

National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling developer, released today its consolidated financial results for the first half of 2019. The company continues to meet the region’s growing demand for district cooling and delivers solid performance and growth. Financial highlights – six months ended 30 June 2019:Group revenue increased by 3% to AED 671.9 million (H1 2018: AED 650.7 million)Core chilled water revenue increased by 3% to AED 634.4 million (H1 2018: AED 617.3 million)EBITDA increased by 12% to AED 366.0 million (H1 2018: AED 326.1 million)Net profit attributable to the parent was  AED 199.4 million, an increase of 11% on H1 2018, when the latter is adjusted for the profit from  partial sale of Saudi Tabreed that occurred in the first half of last yearShare of results of associates and joint ventures decreased by 13% to AED 40.2 million (H1 2018: AED 46.0 million) Operational highlights – six months ended 30 June 2019:Total Group connected capacity across the GCC increased to 1,145,847 Refrigeration Tons (RT), with 14,468 RT of new customer connections added in the first half of the year as follows:6,068 RT in the United Arab Emirates8,400 RT in Oman as a new plant came into service Environmental highlights – six months ended 30 June 2019:656 million kilowatt hours was saved across the GCC – enough energy to power approximately 37,368 homes in the UAEThese power savings prevented the release of 392,000 tons of carbon dioxide into the atmosphere – the equivalent of eliminating the emissions of 85,279 vehicles annually Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “Tabreed delivered another quarter of stable results and reported a net profit of AED 199.4 Million driven by its core chilled water business. Tabreed continuous growth reinforces our position as a leading district cooling company and retains the confidence of our shareholders in delivering consistent results and tangible returns.” “We are determined to expand the company’s footprint and unlock new opportunities to grow our business and contribute the world sustainable development goals.” Bader Saeed Al Lamki, Tabreed’s Chief Executive Officer, said: “Tabreed recorded a solid performance in the first half of 2019 fostered by vigorous efforts to grow the business and expand our operations across the region. This performance underscores the efficient strategy the company has adopted and its resiliency.” Al Lamki further noted the 12% increase in EBIDTA and 11% rise in net income, when adjusted for the partial sale of the Saudi Tabreed shares. , ” “On the operational side, we commissioned a new district cooling plant in Oman to serve the Mall of Muscat with a contracted capacity of 8,400 RT. This takes our total number of operational plants to 75.  We will strengthen our operations by investing in our expertise and continue leading the district cooling industry,” he added. Tabreed is a partner of choice for organizations in providing environmentally friendly district cooling solutions that support the region’s energy and sustainability strategy. With 74 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments including iconic infrastructure projects such as Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, Abu Dhabi’s Al Maryah Island, Yas Island, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, is integrating data-based operational intelligence software across its network of district cooling plants to monitor, analyze, and improve overall plant performance and reliability, making it the first district cooling company to do so. Created by OSIsoft, a leader in operational intelligence, the PI System will collect, analyze, visualize and share the large amount of data produced by Tabreed’s network of plants. Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions that support the region’s energy sustainability. With 74 district cooling plants located throughout the region, Tabreed currently delivers over one million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia. “The PI System gives us real-time insight into our systems, which plays a key role in enhancing customer satisfaction and our services provided to them,” said Jean-Francois Chartrain, Chief Operating Officer, Tabreed. “This kind of immediate application of such world-class Technology is the cornerstone of digital transformation and we hope to leverage technology like the PI System to predict equipment malfunctions and proactively enhance our operations. Data analytics solutions will increase our ability to deliver affordable and reliable chilled water to our customers.” Tabreed now tracks approximately 30,000 data streams or ‘tags’, monitoring metrics such as real-time and historic power consumption, cooling energy production and equipment status. Employees also use PI Vision, OSIsoft’s visualization tool, to create dashboards which present data with greater clarity and across multiple devices.   District Cooling: Efficient, Reliable and Big Enough for an Entire CityA highly efficient and cost-effective form of air conditioning, district cooling relies on centralized cooling plants to produce chilled water, which then gets circulated through underground insulated pipes to buildings and campuses within a network. District cooling consumes up to 50% less energy than conventional individual air conditioning, reduces maintenance and capital costs, and lowers CO2 emissions. By reducing demand for conventional air conditioning, Tabreed estimates its own operations has contributed to eliminating 986,750 tons of CO2 annually, or the equivalent of taking 214,000 cars off the road, and contributed to saving 1.97 billion kilowatt/hour across the GCC – enough energy to power approximately 112,000 homes in the UAE every year. District cooling equipment also typically lasts 30 years or more, twice as long as conventional air conditioners, and can take advantage of seawater or treated sewage effluent (TSE) rather than potable water to further reduce costs and environmental impacts. District cooling is expected to play a pivotal role in many regions in curbing the escalating energy demands of air conditioning, which currently accounts for approximately 10% of global electricity consumption and is the fastest growing use of energy in buildings, according to the International Energy Agency. By 2050, around two-thirds of households are expected to have air conditioners. Demand for air conditioning power is expected to triple by 2050, an increase that would require an increase in capacity equivalent to the current electrical capacity of the U.S., EU and, Japan today. The PI SystemOSIsoft’s PI System transforms the vast number of operational data streams from sensors, industrial equipment and other devices into rich, real-time insights to help save money, increase productivity and make better decisions. Worldwide, over two billion sensor-based data streams are managed by the PI System. In facilities, the PI System is used to manage power consumption for over 135 million square feet of building space at leading universities, research hospitals, data centers, national laboratories, stadiums, government centers and corporate campuses. The PI System is also used to optimize district heating networks across France. “We’re incredibly excited to be working with Tabreed, which has been a regional leader in demonstrating the power of district cooling,” said J. Patrick Kennedy, founder and CEO of OSIsoft. “Data is the one commodity in the world that gets more valuable the more people use it. In Tabreed’s case, digital transformation can help improve the company’s performance, enhance the comfort of its customers and ultimately benefit the greater community. We look forward to seeing what they accomplish.”

National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international cooling provider, announced today that the Board of Directors has appointed Bader Saeed Al Lamki as the Company’s new Chief Executive Officer, effective 21st April, 2019. Khaled Al Qubaisi, Chairman of Tabreed, commented, “I am very pleased to welcome Bader Al Lamki to Tabreed. His vast expertise makes him the ideal successor to steer the company during the next stage of its growth strategy and further drive its operating and financial performance. His considerable industry knowledge will be invaluable to us as we continue our expansion and seek to further efficiency gains and achieve our full growth potential.” Mr. Al Lamki joins from Masdar, where he was the Executive Director of the Clean Energy Directorate. In this role, Bader played an instrumental role in building the company’s renewable energy portfolio across 25 countries, leading on a number of its most iconic projects. He was responsible for steering the business growth activities including bidding, acquisition and green field development. He was also responsible for maximizing value from Masdar’s utility-scale renewable energy portfolio globally through effective Asset and operation Management. Bader Al Lamki joined Masdar in February 2008 from ADMA-OPCO after successfully leading a strategic development initiative to support increasing the oil production of the company to nearly 1 million barrels per day. Earlier in his career, Mr. Al Lamki also worked with the leading French energy operator Total, advising on oil and gas project development across the Africa continent. Mr. Al Lamki succeeds Jasim Husain Thabet, who joined as the first Emirati CEO of Tabreed in August 2012 and during his six-year tenure, the Company’s annual net income grew from approximately AED 202.3 million to AED 427.6 million. Under his leadership, Tabreed successfully pioneered a new model of sustainable growth, delivering approximately 50% growth in consolidated connected capacity and 28% growth in revenues. This outstanding performance facilitated the investment grade credit ratings from Moody’s and Fitch of Baa3 and BBB respectively and the successful re-entry to the public debt capital markets through the issue of a US$ 500 million (AED 1.8 billion) 7 year unsecured sukuk. Jasim has played a major role in the strategic acquisition by ENGIE of 40% of Tabreed and most recently, he led Tabreed’s first foray outside of the GCC market with the signing a 30-year concession for a contracted cooling capacity of 20,000 RT in Amaravati, India. Khaled Al Qubaisi commented “The Board is grateful to Jasim for his commitment, strong leadership and many years of service to Tabreed. He has been instrumental in effectively positioning Tabreed in the UAE and across the GCC and driving its growth, making it one of the best-performing and most profitable companies in the sector. He leaves a more agile and resilient company, well placed to win in this fast-changing, evolving industry. I’d like to thank him both personally and on behalf of the Board, for his contributions to Tabreed.”

National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today released its 2019 first quarter consolidated financial results. The company continues to deliver strong and consistent performance from its 74 district cooling plants across the GCC, which provide over 1.1 million refrigeration tons (RT) of cooling capacity for customers in five countries. Financial highlights – three months ended 31 March 2019:Net profit attributable to the parent increased by 3 percent to AED 80.0 million (Q1 2018: AED 77.7 million)Group revenue increased by 8 percent to AED 296.8 million (Q1 2018: AED 274.4 million)Core chilled water revenue increased by 7 percent to AED 276.1 million (Q1 2018: AED 258.7 million)EBITDA increased by 15 percent to AED 170.2 million (Q1 2018: AED 148.6 million),Share of results of associates and joint ventures decreased by 29 percent to AED 15.5 million (Q1 2018: AED 21.8 million) Operational highlights – three months ended 31 March 2019:Total Group connected capacity across the GCC increased to 1,134,329 RTThe Group signed a 30 year concession for the new Andhra Pradesh Capital City in India, which was a significant step for Tabreed to penetrate one of the world’s biggest and fastest growing markets Environmental highlights – three months ended 31 March 2019:206 million kilowatt hours was saved across the GCC – enough energy to power approximately 11,700 homes in the UAE every yearThese power savings prevented the release into the atmosphere of 103,000 tons of carbon dioxide – the equivalent of eliminating the emissions of 22,400 vehicles annually Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “Our strong first quarter builds on a solid 2018, during which we continued to build on our reputation as one of the UAE’s strongest and most successful businesses. We are proud to now be pioneering district cooling in India alongside our established presence in the UAE and the GCC. Looking to the future, continued economic diversification in the GCC, its expanding population, and increasing urbanization will drive further investment in high-density developments, and district cooling is a core component of such investment. Tabreed’s new CEO, Bader Al Lamki, brings a track record of success and is well-placed to guide Tabreed’s next stage of growth and further drive our operational and financial performance.” Bader Al Lamki, Tabreed’s new Chief Executive Officer, added: “This quarter’s results underline customer confidence in Tabreed’s operational strength and two decades of leadership and experience. We are pleased to report a 3 percent increase in net profit, and an 8 percent increase in revenue, as a result of new customer connections. Tabreed’s high-performing team has once again delivered over the first three months of the year and this strong platform puts us in a good position for the remainder of 2019 and beyond.” Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions that support the region’s energy sustainability. With 74 district cooling plants located throughout the region, Tabreed currently delivers over 1.1 million refrigeration tons to key developments in the region, including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

Tabreed Shareholders Approve 19% Increase in Cash Dividend9.5 fils dividend per share for 2018 March 7, 2019 – ABU DHABI, UAE: The shareholders of National Central Cooling Company PJSC (DFM: TABREED), the leading UAE-based international district cooling utility company, have approved a dividend of 9.5 fils per share for the financial year ending 31 December 2018. Driven by the company’s strong and consistent performance in 2018, this represents a 19% increase on the previous year’s pay out.The dividend was approved by the shareholders at the company’s Annual General Assembly (AGA), chaired by Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, and attended by Tabreed’s Board of Directors, shareholders, and the company’s senior leadership team.Commenting on the full-year performance, Khaled Abdulla Al Qubaisi, Tabreed’s Chairman said: “In 2018, our 20th year of operations, we delivered an outstanding year of financial and operational performance. Tabreed has delivered rising cash dividends to shareholders in recent years, and this year’s dividend continues that trend. Our progress has deservedly earned Tabreed a reputation for enduring reliable performance which has assisted in securing our first international opportunity outside the GCC as we signed a 30-year concession for Amaravati, the new capital of Andhra Pradesh in India.”In the 2018 full-year results, Tabreed reported a net profit increase of 7 percent to AED 427.6 million, adding 39,061 refrigeration tons (RTs) of new connections, resulting in the delivery of over 1.1 million RTs of cooling capacity. During the year, the company acquired 50% of S&T Cool District Cooling Company LLC, a major district cooling provider on Reem Island in Abu Dhabi, from Aldar Properties. Tabreed also sold part of its stake in its associate Saudi Tabreed to the IDB Infrastructure Fund II and successfully issued a US$500 million, seven-year tenor sukuk, which was 50% oversubscribed.Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “Tabreed enjoyed another successful year in 2018, with revenues rising to AED 1.4 billion. Our financial strength, reflected in a strong balance sheet and consistent recurring income and cash flows, gives us the ability to continue to invest in our operations and networks whilst delivering growing dividends to shareholders. Our strategy remains to build on our strong foundations to develop solutions to capture the growing demand for district cooling in the region, both through an expanded operational footprint and by capturing new and more efficient ways of operating.”Tabreed is a partner of choice for providing environmentally friendly cooling solutions that support the world’s energy sustainability agenda. With 74 district cooling plants located throughout the region, Tabreed currently cools key landmarks in the region including Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Ferrari World Abu Dhabi, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia. -ENDS-About National Central Cooling Company PJSC (Tabreed)Tabreed is the leading UAE-based regional district cooling utility company that provides energy-efficient, cost-effective and environmentally friendly year-round district cooling solutions in the GCC. Founded in 1998 and listed on the Dubai Financial Market (DFM), Tabreed’s cooling infrastructure is an integral part of the region’s growth. The company now delivers over one million refrigeration tons to major residential, commercial, government and private projects. Tabreed owns and operates 74 plants in its portfolio across the GCC, including 63 plants in the United Arab Emirates, two in the Kingdom of Saudi Arabia, 4 in Oman, one in the Kingdom of Bahrain and others in the region.For more information, please visit www.tabreed.ae or contact the Strategic Communications Team on:Tel: +971 2 2020 399Email: media@tabreed.ae