Invitation to the Annual General Assembly Meeting of the Company’s Shareholders

calendar_month February 10, 2016

The Board of Directors of National Central Cooling Company PJSC (Tabreed or the Company) is pleased to invite its shareholders to attend the General Annual General Assembly Meeting, which is to be held on Wednesday, 2 March, 2016 at 5.00 P.M. (17:00 hrs) at the Beach Rotana Hotel, Al Thuraya ballroom – Abu Dhabi, to discuss and resolve the items detailed hereunder:

1) Special Resolution:

Consider and approve amending the Company’s articles of association in line with Federal Law No 2 of 2015 concerning the Commercial Companies.

2) Consider and approve the report of the Board of Directors on the Company’s activities and its financial position for the fiscal year ending 31 December 2015.

3) Consider and approve the auditor’s report on the Company’s financial position for the fiscal year ending 31 December 2015.

4) Consider and approve the Company’s financial statements and profit and loss statement for the fiscal year ending 31 December 2015.

5) Consider and approve the proposal of the Board of Directors regarding the distribution of cash dividends at 6 fils per share or 6% of the Company capital for the fiscal year ending 31 December 2015.

6) Discharge the members of the Board of Directors from their liabilities for the fiscal year ending 31 December 2015.

7) Discharge the auditors from their liabilities for the fiscal year ending 31 December 2015.

8) Approve the Board of Directors remuneration for the fiscal year ending 31 December 2015.

9) Appoint the Company’s auditors for the fiscal year ending 31 December 2016 and determine their remuneration.

Remarks:

1.) Each shareholder is entitled to attend the Company’s Annual General Assembly Meeting and may authorize another person (other than a member of the Company’s Board of Directors) to attend the above mentioned meeting on behalf of the shareholder pursuant to a proxy provided that the representative does not hold in such capacity more than 5% of the Company’s share capital (persons of incomplete capacity or incapable shall be represented by their legal representatives and minors shall be represented by their parent or guardian). A corporate person may delegate a representative or those in charge of its management pursuant to a resolution of its board of directors or its equivalent to represent such corporate person in a general assembly. The delegated person shall have the powers as determined in the delegating resolution. The proxy form must be submitted and delivered to the Securities Services Department at National Bank of Abu Dhabi, P.O. Box 6865, Abu Dhabi not less than two days prior to the date of the meeting. Only original proxies will be accepted.

2.) Shareholders who are registered in the Company’s share book on Sunday 13 March 2016 shall be deemed to be entitled to receive the dividends if the Annual General Assembly Meeting convened on its first meeting on 2 March 2016. Shareholders who are registered on Sunday 20 March 2016 shall be deemed to be entitled to receive the dividends if the Annual General Assembly Meeting convened on its second meeting on 9 March 2016.

3.) The Annual General Assembly Meeting will be quorate if shareholders representing not less than 50% of the Company’s share capital attend. Each shareholder who is registered in the Company’s share book on Tuesday 1 March 2016 is entitled to attend the first meeting on 2 March 2016. In the event a quorum for the first meeting is not achieved, the Annual General Assembly Meeting will be adjourned until Wednesday, 9 March, 2016 at the same time and place and will be considered duly convened if attended by one or more shareholders. Shareholders whom are registered in the Company’s share book on 8 March, 2016 shall then be entitled to attend the second meeting.

4.) Where the necessary quorum is not achieved in the first meeting, all duly completed proxy forms shall continue to be valid and in full force for any adjourned meeting unless revoked by the relevant shareholder by notice to the Securities Services Department at the National Bank of Abu Dhabi at least two days prior to the relevant adjourned meeting.

5.) Shareholders are required to update their contact details at the Dubai Financial Market to ensure that dividends are delivered properly. Dividends will be distributed through the Dubai Financial Market.

6.) Copies of the Company’s articles of association together with the proposed amendments, financial report and Corporate Governance Report for the year ended 31 December 2015 are available on the Company’s website http://www.tabreed.ae and will be available at the meeting venue upon registration on the day of meeting.

The Board of Directors

Other

News

calendar_month November 06, 2025

Tabreed Added to MSCI Emerging Markets Small Cap Index, Strengthening Global Investor Visibility

MSCI inclusion effective close of 24 November 2025, highlighting Tabreed’s growing visibility among global investorsStrong first-half performance and completion of PAL Cooling and Palm Jebel Ali transactions mark transformational milestones in Tabreed’s growth storyFirst-ever interim dividend of 6.5 fils per share, representing AED 184.9 million, approved for H1 2025Abu Dhabi, United Arab Emirates – 6 November 2025: National Central Cooling Company PJSC (DFM: TABREED / ISIN: AEA002201018), the world’s leading and most diversified district cooling company, today announced its inclusion in the MSCI Emerging Markets Small Cap Index, effective close of 24 November 2025. This development reflects Tabreed’s continued growth trajectory, increasing institutional confidence in the company’s fundamentals and long-term strategy.MSCI index inclusion is an important indicator for international investors, often serving as a benchmark for global passive and active fund allocations. Tabreed’s addition is expected to enhance its visibility across global capital markets, further increase share liquidity and support incremental investor flows.Tabreed’s Chief Executive Officer, Khalid Al Marzooqi, said: “Inclusion in the MSCI Emerging Markets Small Cap Index marks an important milestone in Tabreed’s journey as a listed company. It reflects the market’s recognition of our consistent performance, strong fundamentals and expanding presence across key markets. This achievement also reinforces our commitment to transparency, value creation and sustainable growth, while enhancing Tabreed’s investment appeal among regional and global investors.”During the year, Tabreed delivered a strong first-half performance, underpinned by its concession-backed model and scalable operations. The year also saw two of the largest transactions in the company’s history, the completion of its PAL Cooling acquisition with CVC DIF and the Palm Jebel Ali concession in a JV with Dubai Holding – transformational milestones that expanded the platform, deepened the concession base and strengthened long-term earnings visibility. Commenting on the announcement, Adel Al Wahedi, Tabreed’s Chief Financial Officer, added: “In a year defined by operational focus and prudent capital allocation, this further raises the profile of Tabreed, broadens our reach with global investors and cements Tabreed’s role as a strategic enabler of sustainable infrastructure. Inclusion in such global benchmark indices aligns with our ambition to diversify our shareholding base and we remain committed to deepening our engagement with the investment community.”In September 2025, Tabreed took an important step towards enhancing its distribution profile, with the approval of its first-ever interim dividend of AED 184.9 million, equivalent to 6.5 fils per share. This reflects the company’s strong confidence in its financial position and commitment to driving shareholder returns.

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calendar_month November 04, 2025

Tabreed Settles USD 500 Million Trust Certificates due in 2025

Marks closure of landmark 2018 issuance as part of company’s proactive debt management strategyAbu Dhabi, United Arab Emirates – 3 November 2025: National Central Cooling Company PJSC (DFM: Tabreed), the world’s leading district cooling company, today announced the settlement of its USD 500 million Trust Certificates due in 2025, originally issued in October 2018 and maturing on 31 October 2025.The seven-year senior unsecured Sukuk was issued under Regulation S format and listed on the London Stock Exchange. It carried a fixed 5.5% profit rate and was oversubscribed by 50%, reflecting strong demand from institutional investors across Asia, Europe and the GCC. The issuance was underpinned by Tabreed’s first-ever investment-grade ratings from Moody’s (Baa3) and Fitch (BBB) at the time.As part of its proactive liability management approach, prior to maturity, Tabreed had already repurchased trust certificates with the aggregate face amount of USD 249.5 million and the remaining USD 250.5 million balance has now been fully settled. This settlement reflects the company’s disciplined approach to managing its capital structure and underscores its strong liquidity position, supported by its recent successful raising of an AED 1.8 billion Shariah compliant debt facility.Khalid Al Marzooqi, Chief Executive Officer of Tabreed, said: “This repayment reflects the financial strength and maturity Tabreed has built over recent years. As we continue to expand across the region, maintaining balance sheet resilience remains central to our long-term strategy. We are focused on creating value through disciplined growth, backed by a stable and well-managed capital base.”Adel Al Wahedi, Tabreed’s Chief Financial Officer, added : “The full settlement of this Sukuk concludes an important chapter in Tabreed’s capital markets journey. We are proud to have honoured this obligation in a structured and strategic manner, using long-term financing that aligns with our capital structure optimisation goals and sustainability priorities. This is a clear demonstration of our financial discipline and market credibility. Tabreed’s robust credit fundamentals are further reinforced by investment-grade ratings from both Moody’s and Fitch, which continue to affirm its financial strength and prudent risk management.”This week’s repayment underscores Tabreed’s ability to manage its liabilities proactively, maintaining a strong credit profile and preserving long-term financial flexibility to support its growth strategy.

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calendar_month October 28, 2025

Tabreed Successfully Secures New Debt Facility to Support Strategic Investment and Enhance Liquidity

AED 1.8 billion Shariah-compliant loan agreement signed with leading regional banksDemonstrates strong credit profile and market confidenceAbu Dhabi, United Arab Emirates – 28 October 2025: Tabreed, the world’s leading district cooling company, today announced the successful raising of AED 1.8 billion new bank debt to support its strategic growth initiatives and optimise its capital structure. The new loan is part of Tabreed’s plans to finance the company’s capital needs and diversify its funding sources, including funding investment and growth requirements. The 1.8 billion loan (the “Facility”) has a tenor of six years and is financed by Emirates NBD and Mashreq. The facility is fully Shariah-compliant and is structured as a dual-tranche (AED/USD), reflecting Tabreed’s commitment to inclusive financing and alignment with regional investor preferences. Notably, AED 1 billion of the facility has been structured as green financing, underscoring the company’s dedication to sustainability and environmental stewardship.Khalid Al Marzooqi, Chief Executive Officer of Tabreed, commented: “This successful financing is testament to the strength of our business model and the trust we have built with our banking partners. It enables us to pursue strategic investments that accelerate our expansion and drive long-term value, while reinforcing our commitment to responsible and sustainable financial practices.”“Shariah-compliant financing is a key pillar of our capital strategy, reflecting our commitment to financial inclusion and alignment with the values of our stakeholders,” added Adel Al Wahedi, Tabreed’s Chief Financial Officer. “By integrating Islamic finance principles into our funding mix, we are able to access a broader pool of liquidity while maintaining our investment-grade credit profile. The successful raising of this debt not only supports our strategic M&A, but also proactively strengthens our balance sheet by optimising our debt maturity schedule and maintaining a strong financial foundation. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, commented: “This transaction marks a significant milestone in Tabreed’s financing strategy, supporting the development and upkeep of critical infrastructure assets across the UAE. The innovative, multi-currency financing structure seamlessly integrates both Islamic financing principles and green finance standards within the documentation. We are proud of this successfully structured, landmark transaction, which reflects Tabreed’s continued trust in Emirates NBD and further strengthens the strategic partnership between our two institutions.”Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said: “We are pleased to partner with Tabreed on this milestone transaction, which reflects the company’s strong fundamentals and forward-looking strategy. The Shariah-compliant and green financing structure exemplifies our shared commitment to sustainable innovation and inclusive capital solutions. At Mashreq, we are proud to support Tabreed’s continued growth and its role in shaping a more resilient and environmentally responsible future for the region.”The strong appetite from banks reinforces Tabreed’s reputation as a high-quality credit and its ability to access competitive funding across markets. The company remains focused on maintaining robust liquidity and prudent leverage, ensuring its capital structure supports both near-term execution and long-term value creation.This financing marks another milestone in Tabreed’s journey to deliver sustainable growth, backed by disciplined financial management and a clear strategic vision.

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calendar_month October 21, 2025

Tabreed Appoints Arqaam Securities as Liquidity Provider

New mandate will improve trading liquidity, boost investor confidence and benefit company shareholders Abu Dhabi, United Arab Emirates – 21 October 2025: Tabreed, the world’s leading district cooling company, is pleased to announce the appointment of Arqaam Securities LLC, a leading regional financial institution, as liquidity provider for its shares listed on Dubai Financial Market (DFM). This initiative is part of Tabreed’s ongoing efforts aimed at strengthening the trading dynamics of the company’s shares by improving liquidity and creating accessible market for investors.As per the terms of the agreement, which will last for 12 months, Arqaam Securities is to commence liquidity provisioning on Tabreed shares by entering two-way quotes into the market trading system, all within set parameters and in full compliance with regulations and controls set by DFM and the UAE Securities and Commodities Authority (SCA). This mechanism helps narrow the bid-ask spread, reduce volatility and enhance investor confidence. All relevant approvals have been granted, and the service is set to commence on 22 October 2025. At no time during the mandate will Arqaam Securities’ ownership of Tabreed shares exceed 5% of the total outstanding shares. The company has free float shares of 18.1% and is 100% open to foreign investment, with Mubadala and ENGIE as its two strategic shareholders. Tabreed’s appointment of such a licensed liquidity provider is a clear demonstration of its interest in ensuring smoother trading experience for investors and supporting a more stable and liquid market environment. Commenting on the appointment, Tabreed’s Chief Executive Officer, Khalid Al Marzooqi, said: “This appointment is first and foremost about our shareholders. With Arqaam as our Liquidity Provider on DFM, we aim to enhance access to Tabreed’s shares, giving investors greater flexibility in dynamic markets and reinforcing our focus on sustainable, long-term value creation.”Veselin Tilev, Head of Market Making at Arqaam, added: We are delighted to offer our Liquidity Provision services on the Dubai Financial Market to Tabreed, reinforcing our commitment to enhancing market depth and trading efficiency in the UAE. With our proven track record and deep understanding of local market dynamics, we are confident that Arqaam will contribute meaningfully to improving liquidity and facilitating active, orderly trading in Tabreed’s shares on the DFM.In the first half of 2025, Tabreed delivered steady growth, with revenue rising to AED 1.11 billion and net profit reaching AED 276 million, supported by higher cooling demand and record capacity additions that lifted total connected capacity to 1.37 million RT. Since then, the company has completed two landmark transactions, taking total connected capacity to ~1.55 million RT and accelerating its strategy: acquiring PAL Cooling alongside CVC DIF and securing the long-term Palm Jebel Ali district cooling concession in partnership with Dubai Holding Investments. Together, these transactions expand the platform and reinforce concession-backed cash flows and long-term earnings visibility.Following that performance, Tabreed’s shareholders approved first-ever interim dividend of 6.5 fils per share on 15 September 2025, totaling AED 184.9 million for the first half of 2025. The approval signals confidence in the company’s momentum and its commitment to delivering sustainable returns to shareholders.-ENDS-

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