Tabreed Signs First District Cooling Concession in IndiaSigns 30 years concession agreement for the new Andhra Pradesh Capital City, one of the world’s most sustainable citiesFebruary 13, 2019 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international cooling provider, has entered into a 30 year concession for a contracted cooling capacity of 20,000 refrigeration tons (RTs) with Andhra Pradesh Capital Region Development Authority (APCRDA) to build, own, operate and transfer India’s first district cooling system in Amaravati – the new capital of Andhra Pradesh. This will be Tabreed’s first plant outside its GCC market.Tabreed’s district cooling system is part of the Indian state of Andhra Pradesh’s vision for Amaravati to create jobs and homes along with a world-class infrastructure, a green city, and efficient resource management.In addition and in line with the ambitious plans for this greenfield capital city of Andhra Pradesh to be amongst the most sustainable cities in the world, Tabreed’s system will meet cooling requirements for the State’s Assembly, High Court, Secretariat and other government buildings that are currently under construction, for which cooling services will commence from early 2021.Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “As the UAE flagship District Cooling provider we are very pleased to be taking a leading role in the development of the new capital city of Andhra Pradesh. As our first district cooling project in India, this signals a significant step for Tabreed to penetrate one of the world’s biggest and fastest growing markets. We see this as an opportunity to establish an initial presence which will be the foundation for further growth in the future.”Jasim Husain Thabet, Chief Executive Officer, commented: “We are very pleased with our first project in India, increasing our presence to 6 countries. Our strong core business, experienced team, structuring capabilities, and proven innovative skills made us the ideal choice to be a long-term partner of APCRDA. Our focus will be on delivering high quality and cost-effective cooling solution to provide long-term benefits for the Andhra Pradesh government.”Dr. Sreedhar Cherukuri, Commissioner, Andhra Pradesh Capital Region Development Authority (APCRDA), said: “Bringing in the best solutions and providers from across the world to build Amaravati, we are excited to select Tabreed, a global district cooling leader, as our partner for our new capital. Tabreed demonstrated strong commercial flexibility, operational depth, and understanding of the complexity of well-structured district cooling concession schemes through the bidding process.”Compared to other cooling systems, district cooling uses only 50% of primary energy consumption for cooling urban buildings thereby reducing CO2 emissions. This highly efficient and cost-effective form of air conditioning also has associated benefits of improvement in air quality and reduction in general noise levels when compared to other traditional air conditioning systems.Exploring other growth opportunities across India, Tabreed is actively working with the UN Environment’s District Energy in Cities Initiative, a multi-stakeholder partnership that assists developing countries and cities to accelerate their transition to lower carbon and climate resilient societies through modern district energy systems.

Tabreed’s 2018 Full Year Net Profit Increases 7% During its 20th Year of Operation Board of Directors recommends increasing dividend by 19% to 9.5 fils per share 31 January, 2019 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional cooling provider today released its audited financial results for 2018. Tabreed reported a 7% increase in net profit to AED 427.6 million for the full year by adding 39,061 RT of new connections resulting in the delivery of over 1.1 million refrigeration tons (RTs) of cooling capacity. Based on such results, Tabreed’s Board of Directors recommended a cash dividend for 2018 of 9.5 fils per share, up from 8 fils per share paid in 2018. Tabreed announced a number of significant achievements during 2018, in addition to celebrating its 20th anniversary. During the year, Tabreed 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. Tabreed also added 39,061 RT of new customer connections across the GCC and included Warner Bros. World Abu Dhabi theme park, which opened on Yas Island in July 2018 and which reinforced Tabreed’s reputation as a partner of choice for the UAE’s most high-profile assets. In addition, Tabreed successfully issued a US$500 million, seven year tenor sukuk, which was 50% oversubscribed, reflecting strong demand from local and international investors, and received investment grade credit ratings from Moody’s and Fitch of Baa3 and BBB respectively. These consistently strong results, new sukuk and new bank facilities of up to AED 1.5 billion reinforce Tabreed’s strong business model and solid funding base, positioning it well for future growth. Financial highlights – 12 months ended 31 December 2018:Net profit attributable to the parent increased by 7 per cent to AED 427.6 million (2017: AED 400.1 million)Group revenue increased by 3 per cent to AED 1,446.9 million (2017: AED 1,399.4 million)Core chilled water revenue increased by 3 per cent to AED 1,361.3 million (2017: AED 1,317.3 million)EBITDA increased by 10 per cent to AED 694.2 million (2017: AED 628.4 million)Share of results of associates and joint ventures decreased by 30 per cent to AED 90.3 million (2017: AED 128.8 million), due to the impact of new accounting standards (IFRS 15) Operational highlights – 12 months ended 31 December 2018:Total Group connected capacity across the GCC increased to 1,131,379 Refrigeration Tons (RT), with 39,061 RT of new customer connections added and 3 new plant(s) became fully operational Environmental highlights – 12 months ended 31 December 2018:Contributed to saving 1.97 billion kilowatt/hour across the GCC – enough energy to power approximately 112,000 homes in the UAE every yearThese power savings prevented the release into the atmosphere of 986,000 metric tons of carbon dioxide – the equivalent of eliminating the emissions from 214,000 vehicles annually Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “Tabreed has become the leader in district cooling, with 74 plants across five countries. Our financial and operational achievements this year demonstrate continuing excellence across our business.  I am optimistic about 2019 and beyond as economic diversification in  the GCC and increasing urbanization drives investment in high-density developments. This will leave Tabreed well positioned to provide cost-effective and environmentally friendly cooling solutions for our region. We will continue to play a crucial role in the development of the infrastructure of the GCC and beyond.” “In line with our commitment to continue delivering shareholder value and based on our achievements and performance in 2018, the company’s Board of Directors will recommend increasing cash dividends to 9.5 fils at the upcoming annual general assembly,” Al Qubaisi added. Jasim Husain Thabet, Tabreed’s Chief Executive Officer, commented: “Our business has gone from strength to strength in our 20th year of operation. We made great strides to improve our performance, implementing new technology to achieve greater efficiencies while forging strategic partnerships to increase our loyal customer base. Our relentless commitment to our strategy is reflected in our results, which show a 7% increase in net profit, as well as 39,061 RT new customer connections and numerous industry awards recognising our achievements. We are looking forward to the year ahead, where we’ll continue to provide cost-effective cooling for our customers, which deliver significant energy and environmental benefits while adding value for our shareholders.” Tabreed’s excellence in Operational, Health, Safety and Environment and Human Resources was recognised with four leading industry awards during the last quarter of the year, including ‘District Cooling Utility Provider of the Year’ at the Climate Control Awards, ‘Excellence in HSE on a Project’ at the Big Project Middle East Awards, Group Carbon Champions Award at the District Cooling 2018 Conference, and the Korn Ferry 2018 Employee Engagement Award. Throughout the year, Tabreed delivered significant savings in energy consumption, costs and carbon dioxide emissions. Overall, Tabreed cools the equivalent of 113 towers the size of the Burj Khalifa, with 986,000 tons of annual elimination of CO2 emissions – which is equal to removing 214,000 cars from our streets every year. As part of its corporate social responsibility mandate, Tabreed held its annual blood drive and worked with the Zayed Bin Sultan Al Nahyan Charitable & Humanitarian Foundation and donated electronic and furniture items, which will be sent to schools in third world countries. 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 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.

Tabreed Launches Knowledge Development Programme,The Ethra’a Initiative Fosters synergies between academia and the district energy sector 28 January 2019, Abu Dhabi – UAE: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today announced the launch of its Ethra’a initiative, a first-of-its-kind knowledge development programme established to develop human capital and prepare the district energy sector’s future leaders. Ethra’a initiative, which means ‘enrichment’ in Arabic, aims to build a highly-skilled talent pool and develop human capital by facilitating knowledge sharing and innovation between the industry and academia. This will further drive knowledge-based economic growth in line with the Abu Dhabi Economic Vision 2030, and strategic talent development to support environmental sustainability and green economy ambitions outlined in the UAE’s Green Agenda 2030, an overarching framework to transform the country into a green economy. The initiative is also aligned with Abu Dhabi Government economic reform plan ‘Tomorrow 2021’ (Ghadan 2021), which places significant focus on the development of technology, talent and research. Ethra’a is built on five engagement pillars, with an overall objective to create opportunities for engineering and graduates, by equipping them with the knowledge, skills and competencies to become successful in highly-skilled roles within the district energy sector. These are: guest lectures delivered by subject matter experts at Tabreed to initiate knowledge transfer and improve understanding of the district energy sector; an in-house, capability-building programme, which features Training for Work, Undergraduate Internship Program, a Post Graduate Assistance Program to equip graduates of UAE Nationals with workplace skills and help improve their performance; educational tours at district cooling plants, designed to develop a greater understanding of how sustainable engineering theory can be put into practice; establishing cooperative research clusters for scientific advancements in the field of renewable energy and sustainable technologies; and a Sponsorship Program, designed to give outstanding Emirati students the opportunity to pursue a career with one of the granted local (UAE) based Accredited Universities and Technical Colleges. Commenting, Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “As the regional pioneer in district cooling, Tabreed has a responsibility and commitment to developing the next generation of leaders for the district energy sector, by providing high quality training, mentorships and practical experience to engineering and management graduates. Ethra’a initiative sits at the heart of this commitment, creating stronger links between academia and the industry through greater collaboration on knowledge creation, research, innovation and skills development. This smart and forward-looking approach to education is key to achieving the UAE’s wider vision of developing a thriving, knowledge-based economy.” Earlier this year, Tabreed successfully completed a three-year research and development (R&D) pilot project with Masdar Institute to deliver energy efficiency through enhancing operational performance in district cooling plants. Titled ‘Optimal Chiller Plant Control’, the project aimed to develop and operate a proprietary next-generation digital ‘smart controller’ capable of intelligently managing district cooling plants to improve operational performance by decreasing energy consumption. In 2018, Tabreed has developed over 40 UAE National graduates and employees through different training schemes that offer a chance to build a strong career portfolio through skills development and hands-on experience. The company remains committed to developing a strong pool of Emirati talent through recruitment and retention of UAE Nationals in various fields, having achieved an Emiratisation rate of 39% as of November, 2018. 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 73 district cooling plants located throughout the region, Tabreed currently delivers over 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.