26 July, 2020Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading international district cooling developer based in UAE, released its consolidated financial results today for the first six months of 2020. The company has reported net profit of AED 224.30 million, driven by the acquisition of its Downtown Dubai district cooling business in a long-term partnership with Emaar, one of the world’s largest real estate companies and a global property developer, to provide up to 235,000 RT of cooling from the largest integrated district cooling scheme in the world to some of Emaar’s most prestigious developments.In the midst of the global COVID-19 pandemic, the company has maintained continuous uninterrupted service to all of its customers while also adopting industry-leading health and safety practices and sanitization programmes to ensure the safety of its staff and stakeholders during these challenging times.Financial highlights – six months ended 30 June 2020:Net profit attributable to the parent increased by 13% to AED 224.30 million (H1 2019: AED 199.36 million)Group revenue increased by 6% to AED 710.02 million (H1 2019: AED 671.94 million)Core chilled water revenue increased by 7% to AED 681.17 million (H1 2019: AED 634.43 million)EBITDA increased by 14% to AED 415.4 million (H1 2019: AED 366 million)Share of results of associates and joint ventures decreased by 42% to AED 23.37 million (H1 2019: AED 40.22 million)Operational highlights – six months ended 30 June 2020:Total Group connected capacity across the GCC increased to 1.342 million refrigeration tons (RT), with 160,000 RT of new customer connections added in the first half of the year as follows: 150,000 RT in the UAE10,000 RT outside the UAEEnvironmental highlights – six months ended 30 June 2020:Tabreed’s energy efficient services prevented the release of 500,669 metric tons of carbon dioxide into the atmosphere over the course of the last 6 months – equivalent to eliminating carbon emissions from 108,841 vehiclesContributed to saving 838 million kilowatt hours of power across the GCC – enough energy to power 47,692 homes in the UAE every yearKhaled Abdulla Al Qubaisi, Tabreed’s Chairman, said:“Tabreed’s ongoing growth reflects our commitment to meet the region’s growing demand for energy-efficient and environmentally-friendly cooling solutions. We have achieved consistent progress on our sustainability targets this year and, as we look ahead, we will continue to harness our operational knowledge and capabilities towards continued growth with an ongoing contribution to the region’s sustainable development. Most notably, Tabreed continued to add to its portfolio of landmark projects with the acquisition of our Downtown Dubai district cooling business during the second quarter of 2020 in a historic partnership with Emaar,” he continued. Bader Al Lamki, Tabreed’s Chief Executive Officer, said:“Tabreed has established a leading position in the district cooling industry, with a clear vision to deliver consistent and sustainable results to investors and shareholders. Tabreed’s key strengths, including our highly efficient district cooling technology and market leadership, enabled us to achieve competitive net profit figures and EBITDA margins during the first half of 2019. Moving forward, we remain well-positioned to continue to capture growth opportunities despite the unprecedented global pandemic, in large part thanks to the efforts of the leadership of the emirates of both Abu Dhabi and Dubai, who ensured that vital operations like Tabreed’s were supported, whilst also prioritising the health and safety of residents and citizens.”For over 22 years, Tabreed has been the partner of choice for organizations seeking environmentally friendly cooling solutions to support their sustainability goals and to reduce their overall energy consumption and carbon footprint. With 83 district cooling plants, Tabreed currently delivers over 1.342 million refrigeration tons to key developments, including iconic landmarks such as the Burj Khalifa, Dubai Opera, The Dubai Mall, Sheikh Zayed Grand Mosque, Al Maryah Island, Yas Island and Ferrari World Abu Dhabi, Dubai Metro, the Bahrain Financial Harbour and the Jabal Omar Development in the Holy City of Mecca in the Kingdom of Saudi Arabia.

Tabreed navigates global pandemic to ensure highest standards are maintained across all servicesTabreed aligns work processes with health guidelines issued by relevant authorities7 May, 2020 – 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 three months of 2020, reporting net profit of AED 82.2 million, an increase of 3% compared to its 2019 Q1 performance. In the midst of the global COVID-19 pandemic, the company has taken every precaution to ensure continuous uninterrupted service is maintained to all of its customers while also adopting industry-leading health and safety practices and sanitization programmes to ensure the safety of its staff during these challenging times. Notwithstanding the unprecedented global pandemic, the company continues to meet the growing demand for district cooling solutions and has recently announced the acquisition of its Downtown Dubai district cooling business in a long-term partnership with Emaar, one of the world’s largest real estate companies and a global property developer, to provide up to 235,000 RT of cooling from the largest integrated district cooling scheme in the world to some of Emaar’s most prestigious developments. Financial highlights – three months ended 31 March 2020:Decrease in revenue of 1% driven by results from value chain businessesChilled water revenue in line with prior yearGross margins marginally up on prior year at 55%Finance costs down due to lower ratesIncrease in administrative and other expenses mainly from a provision of AED 10 million on receivables due to impact of COVID-19 offset by cost savingsEBITDA increased by 5% to AED 178.2 million (Q1 2019: AED 170.2) Operational highlights – three months ended 31 March 2020:Staff were successfully rotated to ensure at least 50% of workers were on call at any given time, while all necessary precautions are being taken to ensure their safety amid the threat of the spread of COVID-19Management were able to mitigate the threat of the virus by ensuring that services were maintained with minimal staff interaction and exposure leveraging its state-of-the-art technology and operation philosophy coupled with thorough and regular sanitization of plants and offices Environmental highlights – three months ended 31 March 2020:Tabreed’s energy efficient services prevented the release of 1,233,000 metric tons of carbon dioxide into the atmosphere over the course of the previous year – the equivalent of eliminating the emissions from 268,000 vehicles Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented: “Tabreed’s first quarter financial results demonstrate the resilience of our operational capabilities, proving that we are still able to deliver essential, efficient and reliable services to our customers as we collectively navigate through these challenging times.” “Tabreed has successfully continued to deliver efficient and cost-effective cooling solutions, minimizing the potential for a disruption to the service through working remotely and safely in cooperation with our highly qualified and dedicated employees. Our facilities are 100% operational and we are taking all possible measures to ensure we maintain this service level while ensuring the health and safety of all that interact with our facilities.” He added. Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “We are extremely proud of the swift and effective steps we have been taking to ensure our business continuity and ability to serve the market and our customers during this period of intense market conditions.” “Now more than ever, it is critical that we make it possible for all customers to continue their operations and help them respond to the unique demands that they are facing. Tabreed’s response in this regard has been strong, and as we align our work processes with the guidelines issued by relevant authorities, and our customers can rest assured that they can continue to count on us to support their businesses with efficient, reliable and effective district cooling solutions.” He added. For over 22 years, Tabreed has been the partner of choice for organizations seeking environmentally friendly cooling solutions to support their sustainability goals and to reduce their overall energy consumption and carbon footprint. With 83 district cooling plants, Tabreed currently delivers over 1.338 million refrigeration tons to key developments, including iconic landmarks such as the Burj Khalifa, Dubai Opera, The Dubai Mall, Sheikh Zayed Grand Mosque, Al Maryah Island, Yas Island and Ferrari World Abu Dhabi, Dubai Metro, the Bahrain Financial Harbour and the Jabal Omar Development in the Holy City of Mecca in the Kingdom of Saudi Arabia.

AED 2.48 billion deal with Emaar 06 April 2020 – Dubai, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international district cooling developer has announced the acquisition of a 80% stake in Emaar Properties PJSC’s (DFM: Emaar) Downtown Dubai district cooling business at a cost of AED 2.48 billion (USD 675m). Emaar, one of the world’s largest real estate companies and a global property developer, will retain a 20% stake as part of the long-term partnership with Tabreed. Downtown Dubai is Emaar’s flagship mega-development at the heart of the city. The destination is home to the iconic Burj Khalifa – the world’s tallest building, The Dubai Mall – the most visited mall in the world, The Dubai Fountain, Dubai Opera and other landmark residential, commercial and hospitality developments. The long-term concession will exclusively provide up to 235,000 RT of cooling to Dubai’s most prestigious developments with the largest integrated energy efficient cooling scheme in the world. The district cooling scheme currently provides 150,000 RT of contracted capacity through a network that distributes chilled water produced in 3 already built interconnected district cooling plants; shortly followed by a 4th state-of-the-art plant that is currently under construction. Following the completion of the transaction, Tabreed’s presence in Dubai has increased to 278,801 RT and its total capacity has increased by 12.6% to 1,338,602 RT from 83 plants. The transaction represents a major milestone in Tabreed’s history, demonstrating the Company’s ability to deliver on its growth potential and reinforcing its position as the global district cooling industry leader and the cooling provider of choice for landmark developments in the region and beyond. Khaled Abdulla Al Qubaisi, Chairman of Tabreed, said: “This is a historic achievement for Tabreed and a truly transformational transaction for the company, accelerating our growth trajectory and consolidating our position in Dubai. Tabreed is an international powerhouse in district cooling, with over 22 years of experience, operational excellence across 83 plants and investments in six countries. This acquisition, in the world’s largest district cooling market, is a further testament to our financial strength and leading market position. We are well placed to take advantage of growth opportunities and expect our enhanced presence within the Dubai market to further enable us to reach our long-term objectives.” “We are proud to be a partner of choice for Emaar and to serve their iconic developments in Downtown Dubai. We are delighted with the agreement which paves the way for a long-term relationship with one of the world’s largest and most reputed real estate developers.” Al Qubaisi concluded. Commenting on the acquisition, Chairman of Emaar Properties Mohamed Alabbar added: “This is a key transaction for both Emaar and Tabreed. Emaar values the strategic partnerships we establish, making a concerted effort to nurture and deepen these alliances. Tabreed is one such example where we can identify with many synergies between the companies, and we’re pleased to see our prosperous journey reach new heights. Downtown Dubai is a hallmark of pride for Emaar and we trust Tabreed feels the same way, serving and treating its constituents as their own.” With this transaction, Tabreed’s extensive portfolio of iconic developments now includes the Burj Khalifa, Dubai Mall, Dubai Opera, the RTA’s Dubai Metro, Abu Dhabi Global Market, Etihad Towers, Yas Island, Aldar HQ, World Trade Centre Abu Dhabi, Cleveland Clinic Abu Dhabi, The Sheikh Zayed Grand Mosque, Bahrain Financial Harbour, Knowledge Oasis Muscat and the Jabal Omar Project in the holy city of Mecca.

16 March 2020 – Abu Dhabi, United Arab Emirates: The shareholders of the National Central Cooling Company PJSC (DFM: TABREED), the leading UAE-based international district cooling developer, have approved a dividend of 10.5 fils per share for the financial year ending 31 December 2019. This represents a 11% increase on the previous year’s pay out, highlighting Tabreed’s growth in 2019 and reflecting its growing presence locally, regionally and internationally.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 shareholders and members of Tabreed’s Board of Directors. During the AGA, elections were held to elect the new Board of the Company for a period of three years, and the outcome of the shareholder vote resulted in all previous members of the Board of Directors being re-elected to their positions.Reflecting the company’s stellar full-year performance, Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, said: “In 2019, Tabreed delivered a net profit increase of 11% percent and added 51,366 RTs of new connections, bringing our total capacity to 1,182,715 RTs. Tabreed continues to rapidly expand its client base both regionally in the GCC and internationally, including through acquiring an 8% increased stake in Saudi Tabreed during the year and through our continued presence in India, both being increasingly important markets for us. Following yet another year of exceptional financial and operational performance, and building on over 22 years of excellence in the district cooling sector, we continue to deliver attractive cash dividends to shareholders each year and to reinforce our position as the industry leader in providing reliable, efficient and innovative district cooling solutions.”Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “Tabreed’s revenue increased by 5% to AED 1,520.1 million reflecting our strong and flexible business model that allows us the financial freedom to continue to adapt and seek further operational efficiencies and deliver growing dividends to our shareholders. Throughout the past year, we have continued to grow the overall cooling capacity of the business and to align ourselves with the UAE’s ambitious national energy efficiency targets and wider energy transformation strategy. We have taken steps to diversify our business offering through the creation of a new business entity that will primarily focus providing energy efficiency services that optimize the overall energy usage of buildings situated in landmark developments across the region, while also supporting our core district cooling business in the growth of existing cities and new smart cities. We are confident that this will be the blueprint for further profitability and increased shareholder dividends in the future.”With over 22 years 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 energy sustainability strategy. With 80 district cooling plants across the region, Tabreed currently delivers over 1.18 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.

10 March 2020 – Abu Dhabi, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international district cooling developer, today announced the appointment of Mr. Adel Salem Al Wahedi as the new Chief Financial Officer (CFO) of Tabreed. Mr Al Wahedi brings a wealth of 22 years of experience to the company in the fields of corporate finance, mergers and acquisitions, statutory accounting, budgeting, planning, costing and strategic decision making. Al Wahedi has a proven track record as a business leader in both private and public companies in the region. Prior to joining Tabreed, he served as CFO for some of the largest entities in the UAE including Abu Dhabi Ports Company and Petrofac Emirates, in addition to holding senior positions at Emirates Telecommunications Corporation (Etisalat). Al Wahedi also has considerable experience working in companies that have highly technical operations at their core. Commenting on the appointment, Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “We are delighted to have Adel join Tabreed and be part of our vision and our continued success. We are certain that his experience will be an invaluable addition to Tabreed and make an immediate impact to continue to drive the business forward. This appointment will also enhance the expertise and experience of our management team and invigorate our overall financial strategy as Tabreed navigates through a period of sustained growth and expansion.” Mr Al Wahedi’s appointment will take place with immediate effect. With over 22 years 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 energy sustainability strategy. With 80 district cooling plants across the region, Tabreed currently delivers over 1.18 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.

28 January 2020 – Abu Dhabi, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international district cooling developer, today released its audited financial results for 2019. Tabreed reported an 11% increase in net profit to AED 472.5 million for the full year, adding 51,336 Refrigeration Tons (RT) of new customer connections, resulting in the delivery of 1,182,715 RT of cooling capacity. Tabreed’s Board of Directors recommended a cash dividend for 2019 of 10.5 fils per share, up 11% on prior year aligning with the company’s policy of growing dividends in line with the growth in the business. Tabreed announced a number of significant achievements during 2019, including the signing of its first cooling concession agreement in India, increasing its stake in Saudi Arabia-based district cooling firm Saudi Tabreed to 28 percent, acquiring a 69,000 RT concession in Masdar City and commissioning its DC plants at King Khaled International Airport in Riyadh and the Mall of Muscat in Oman. Operationally, Tabreed celebrated a series of accomplishments in 2019 including the achievement of 10 million safe work hours without Lost Time Injury (LTI), the integration of data-based operational intelligence software across its network of district cooling plants, and becoming the first district cooling company in the region to receive the ISO 50001:2018 certification under the revised version (2018) of the ISO 50001 standard. Financial highlights – 12 months ended 31 December 2019:Net profit attributable to the shareholders increased by 11% to AED 472.5 million (2018: AED 427.6 million)Group revenue increased by 5% to AED 1,520.1 million (2018: AED 1,446.9 million)Core chilled water revenue increased by 7% to AED 1,456.4 million (2018 AED 1,361.3 million)EBITDA increased by 10% to AED 763.2 million (2018: AED 694.2 million)Share of results of associates and joint ventures increased by 10% to AED 99.1 million (2018: AED 90.3 million)Operational highlights – 12 months ended 31 December 2019:Total Group connected capacity across the GCC increased to 1,182,715 Refrigeration Tons (RT)51,336 Refrigeration Tons (RT) of new customer connections addedSix new plants became fully operationalEnvironmental highlights – 12 months ended 31 December 2019:Contributed to saving 2.06 billion kilowatt/hours across the GCC – enough energy to power 117,500 homes in the UAE every yearThese power savings prevented the release into the atmosphere of 1.23 million metric tons of carbon dioxide – the equivalent of eliminating the emissions from 268,000 vehicles annually Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, said: “Tabreed has become an international powerhouse in district cooling, with 80 plants and investments in six countries. Our financial and operational achievements this past year allowed us to achieve a staggering AED 472.5 million, 11% increase, in our net profit which demonstrates our exceptional strength within the market and continued growth and innovation. For 2020 and beyond, I am confident about our ability to further contribute to the region’s sustainable development as urbanization continues to drive investment into high-density developments.” Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “Tabreed’s strategy and continued financial and operational excellence is reflected in our results, represented in a net profit increase, a 10% increase in our EBITDA, 51,336 RT of new customer connections, and a number of accomplishments in digitalization, safety, and innovation. We are uniquely positioned to provide cost-effective and environmentally friendly cooling solutions to customers throughout the GCC and beyond. Tabreed will continue to play an instrumental role in supporting sustainable development as we enter 2020 and the company’s 22nd year of operations.” With over 20 years 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 energy sustainability strategy. With 80 district cooling plants across the region, Tabreed currently delivers over 1.18 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.

Abu Dhabi, UAE, 15 January 2020: Bee’ah, the Middle East’s leading sustainability pioneer, and National Central Cooling Company (Tabreed), the leading international district cooling developer based in the UAE, have signed a partnership agreement to jointly explore the development of large-scale district cooling projects in the Emirate of Sharjah. The partnership was signed today by Khaled Al Huraimel, Group CEO of Bee’ah, and Bader Saeed Al Lamki, CEO of Tabreed. Under the agreement, Bee’ah and Tabreed will develop potential district cooling projects at locations across Sharjah. District cooling is more environmentally friendly and cost-efficient than traditional space cooling methods and in line with Bee’ah’s vision to drive a more sustainable quality of life. Commenting on the agreement, Bee’ah’s Al Huraimel said: “Bee’ah has made significant investments in sustainability and infrastructure in Sharjah to date. Our partnership with Tabreed is a further illustration of our continued commitment to seek new solutions that are more sustainable and cost-competitive. The UAE faces extreme weather conditions, especially during summer, but through new district cooling projects, we hope to tackle this issue through more energy-efficient measures.” Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “We are pleased to be partnering with Bee’ah to explore opportunities to bring reliable, sustainable and cost-efficient district cooling solutions to the Emirate of Sharjah. Our strong core business, innovative technology, experienced team and structuring capabilities have made Tabreed the partner of choice, and we look forward to contributing to the continued growth and long-term sustainability of the Emirate.” District cooling is a key part of the district energy systems that are the foundation of sustainable, economic and urban development. Ideal for large-scale, high density developments such as downtown business districts, airports, university campuses, residential towers and commercial establishments. District cooling relies on a centralized cooling plant that provide cooling to buildings within its grid. The plant supplies chilled water via insulated underground piping networks to a cluster of buildings in a service area, or district. Energy Transfer Stations (ETS) then utilizes the chilled water to force cold air inside the buildings to produce an air-conditioned environment with warm water then returning to the plant to be re-chilled and redistributed. In some cases, plants use nearby sea water instead of potable water, leading to further environmental benefits and water savings. District cooling is highly efficient and cost-effective, providing cost savings from building operations and maintenance to reduce energy consumption, while still efficiently delivering on cooling requirements. The collaboration is designed to increase the use of this energy-efficient district cooling solution among some of the largest projects in Sharjah. Space cooling represents up to 70 percent of electricity consumption at peak times in hotter countries such as the UAE. The International Energy Agency estimates that the energy used by such cooling will more than triple by 2050. With 60 to 80 percent less energy consumption than the average conventional cooling systems, centralized district cooling will play a major role in tackling this global challenge.

15 January 2019 – Abu Dhabi, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international district cooling developer, has announced an agreement to acquire the Masdar City district cooling plants and concession, which will grow to provide efficient cooling services to more than 2.7 million sq.m of sustainable urban communities in Masdar City, with a total capacity of about 69,000RT. In line with the ethos of Masdar City, this will continue to be the most efficient and sustainable cooling system in the Middle East. This advancement represents a major milestone in Tabreed’s strategy of providing efficient cooling to sustainable cities around the world. In addition to the plant, Tabreed will also acquire the use of two deep geothermal wells located in Masdar City that are a part of a major research & development collaboration initiative, which will see Tabreed leverage its sector expertise and innovative approach to create unique, reliable and sustainable cooling solutions through geothermal technology. The agreement was announced during Abu Dhabi Sustainability Week (ADSW), a global platform that brings together a unique fusion of industry leaders and policy makers to share knowledge, implement strategies and deliver solutions that will help drive human progress. The signing was witnessed by Mr. Khaled Al Qubaisi, Chairman of Tabreed and CEO Aerospace, Renewables and ICT at Mubadala, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “At Tabreed, we are committed to developing sustainable technologies and innovative advanced cooling solutions that support the growth of sustainable urban communities. We will be integrating, in operating the plant, our state-of-the-art AI module control system that will more efficiently and economically adjust the plant’s operating parameters to the specific cooling requirements thus further reducing carbon emissions across the city and beyond.” “As an industry leader, our strategic and solid partnerships have allowed us to diversify our operations and venture into energy solutions such as geothermal technology. We look forward to the continuation of a highly successful partnership with Masdar as it paves the way to achieving the ambitious energy efficiency targets set for the city,” added Al Lamki. “This agreement reflects the progress Masdar City has made in developing its residential and commercial portfolio and our commitment to providing the most innovative solutions available,” said Yousef Baselaib, Executive Director, Sustainable Real Estate at Masdar. “By working with an industry-leading specialist in Tabreed, we can be sure our clients will benefit from the best cooling solutions, meeting the City’s needs now and in the future. Tabreed’s expertise in leveraging emerging technologies such as artificial intelligence will help Masdar City meet its sustainability objectives.” Masdar City is a world-renowned green city and one of the world’s most sustainable urban communities; it is home for some of Abu Dhabi’s most iconic and sustainable buildings, including the UAE Space Agency HQ, MAF Masdar City Center, IRENA HQ as well as Siemens HQ. It is a low-carbon development made up of a rapidly growing clean-tech cluster, business free zone and residential neighborhood with restaurants, shops and public green spaces. Sustainability is the key ethos of Masdar City, sharing Tabreed’s vision of efficient and low-emission urban developments. With over 20 years 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 energy sustainability strategy. With 80 district cooling plants across the region, Tabreed currently delivers over 1.16 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.

15 January 2020 – Abu Dhabi, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading international district cooling developer based in the UAE, establishes ‘Tabreed Energy Services’, a new entity consolidating its service businesses to provide customers with an integrated set of consultancy, operations and maintenance services, that will help them optimize the energy efficiency of their buildings and developments.Building on more than 20 years’ of experience in offering management services as a complement to its core district cooling offering, the new company will allow building owners, both government and private sector, to access Tabreed’s deep expertise in optimising energy efficiency and in particular cooling systems, which are the largest driver of energy use.Bader Al Lamki, Tabreed’s Chief Executive Officer, said: “Energy efficiency is a key pillar under the climate change discussion, and the UAE has set ambitious national targets as a part of its wider energy transformation strategy. The launch of Tabreed Energy Services positions us at the forefront of this rapidly growing market and enables customers to benefit from our extensive experience in enhancing efficiency within the cooling industry, as well as providing them with an end-to-end service offering.”“Tabreed Energy Services strengthens our existing district cooling business by capturing further operational synergies and enabling our delivery of fully-integrated cooling solutions.” He added.With operations commencing in 2020, Tabreed Energy Services will offer the full spectrum of integrated building energy services, including energy audits and consultancy, retrofitting and asset replacement, financing, operations and maintenance; offered through both performance-based contracts (ESCO) and traditional service models.With over two decades of operational excellence, Tabreed is the partner of choice for organizations interested in benefiting from environmentally friendly district cooling solutions. With 79 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.

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.