Connected capacity increased 18% YoY to 1.57 million Refrigeration TonsRevenue increased 4% YoY, supported by 9% YoY growth in consumption volumesAbu Dhabi, United Arab Emirates – 14 May 2026: National Central Cooling Company PJSC (DFM: TABREED / ISIN: AEA002201018), the world’s leading and most diversified district cooling company, today announced its results for the three-month period ended 31 March 2026, reporting revenue of AED 486 million and net profit of AED 78 million. The Company delivered resilient operational performance and strong cash generation during the quarter, underpinned by its long-term contracted business model, with capacity charges as the key profitability driver.Total connected capacity increased 18% year-on-year to 1.57 million Refrigeration Tons (RT), demonstrating execution against Tabreed’s expansion strategy and underpinning highly visible revenue profile. Growth in connected capacity primarily reflects the contribution from the PAL acquisition completed in Q4 2025, alongside organic expansion of 54.6k RT over the past 12 months. Excluding the impact of acquisition, connected capacity grew 4.1% year-on-year.Capacity additions in Q1 remained consistent with the construction phasing of customers’ projects. Consolidated consumption volumes increased 9% year-on-year to 338 million Refrigeration Ton Hours (RTh), reflecting both portfolio expansion and more normalised weather pattern compared to an unusually mild prior-year period.Group revenue grew 4% year-on-year to AED 486 million, demonstrating the resilience provided by fixed capacity charges and stable demand fundamentals. EBITDA increased 1% year-on-year to AED 285 million, with a margin of ~59%, maintaining a consistently high margin profile that reflects operational efficiency and scale benefits.Cash flow generation remained robust during the quarter, supported by improved collections and the strength of Tabreed’s revenue model, reinforcing high cash conversion and the credit quality of its customer base.Net profit for the period stood at AED 78 million, reflecting higher finance costs associated with the Company’s ongoing investment cycle and refinancing activities in 2025, as well as the timing of earnings contribution from recent acquisition. These impacts are temporary in nature and expected to normalise as new capacity ramps up.Dr Bakheet Al Katheeri, Tabreed’s Chairman, said: “Tabreed has started 2026 with a resilient performance, underpinned by the strength of our concession-backed business model, a diversified portfolio, and high revenue visibility. As demand for energy-efficient infrastructure accelerates, district cooling continues to play a critical role in sustainable urban development. Building on our progress in 2025, we are advancing our growth pipeline, integrating recent acquisition, and delivering new capacity to support long-term expansion. While our results reflect an ongoing investment cycle, our focus remains on disciplined execution, strong cash flow generation, and maintaining the operational reliability and financial prudence that define Tabreed.”Financial and Operational ResilienceTabreed’s balance sheet remains healthy, with its investment-grade credit rating reaffirmed by Moody’s at Baa3 with a stable outlook. Net debt to EBITDA improved to 4.5x as at 31 March 2026, reflecting disciplined capital management and balance sheet strength even during a period of active investment.The Company maintains a robust liquidity position, with cash balances increasing 15% year-todate to AED 756 million. This reflects the continued stability of Tabreed’s underlying cash flow model.Tabreed also has access to an undrawn Green Revolving Credit Facility of AED 1.2 billion and no near-term debt maturities.During Q1 2026, the company maintained stable performance, underpinned by resilient operations and robust business continuity management protocols. Tabreed’s operational resilience in the face of unforeseen challenges enabled uninterrupted service delivery and steady progress across projects. This consistent focus on operational excellence reinforces Tabreed’s position as a dependable and essential utilities provider across the region.Dividend and OutlookShareholders approved a final dividend of 6.5 fils per share for H2 2025 at the Annual General Assembly held on 25 March 2026, bringing the full-year dividend to 13.0 fils per share. The final dividend was paid in April 2026. The Company’s consistent increase in dividend payout ratio, reaching 79% of net profit in 2025, reflects the Board’s commitment to delivering attractive shareholder returns while continuing to invest in long-term infrastructure growth.Looking ahead, Tabreed remains well positioned to deliver sustainable growth, supported by a solid pipeline of projects in its core market of the UAE. The Company is well placed to deliver continued capacity expansion, steady revenue growth and high EBITDA margin driven by its secured pipeline and innovation-driven operating model. Tabreed will continue to focus on operational excellence, value-accretive capital allocation, and advancing its sustainability agenda, reinforcing its role as a critical infrastructure provider in the region’s energy transition.

Shareholders approve second-half cash dividend of 6.5 fils per share, bringing total annual dividend to 13.0 fils per shareShareholders also approve re-election of existing Board of Directors Chairman celebrates a transformative year of exceptional portfolio growthAbu Dhabi, United Arab Emirates – 26 March 2026: National Central Cooling Company PJSC (DFM: TABREED / ISIN: AEA002201018), the world’s leading and most diversified district cooling company, yesterday held its Annual General Assembly (AGA). In recognition of the company’s resilient financial and operational performance throughout 2025, shareholders approved a second-half dividend payment of 6.5 fils per share, to be distributed fully in cash, resulting in a total 2025 dividend of 13.0 fils per share – a dividend yield of ~5.0% based on 25 March 2026 closing share price.This dividend demonstrates Tabreed’s commitment to delivering attractive returns while continuing to invest in high‑quality, long‑term opportunities. Despite significant M&A investments during 2025 the company’s dividend payout as a percentage of net profit increased to 79%, consistent with its strong track record.During the AGA, Tabreed also elected its board of directors for a three-year term in accordance with the regulations of Capital Market Authority (CMA), with the nine existing board members having been re-elected and endorsed by shareholders.The AGA was chaired by Tabreed’s Chairman, Dr Bakheet Al Katheeri. Following the meeting he said that, over the years, Tabreed has grown from a traditional utility provider into a future‑ready, resilient, and innovation‑driven infrastructure company, adding that “our long‑term contracts, strong customer base and solid financial position make Tabreed one of the most reliable infrastructure investments in the region.“In 2025, Tabreed delivered strong operational performance and advanced its long‑term growth strategy,” he said. “Our core business remains robust, with stable operations, healthy margins, and high asset availability. Connected capacity during 2025 reached 1.57 million RT, a 19% increase year‑on‑year driven by both organic growth and M&A. Excluding M&A, organic capacity growth was 4.4%, near the top of our guidance range.“Our balance sheet remains strong, and we continue to maintain investment‑grade metrics, which is a core priority, and Tabreed’s strong and visible growth pipeline gives us exceptional confidence in the future and reflects our commitment to sustainable value creation for our shareholders. Our strategy is disciplined and balanced: rewarding shareholders today while strengthening the company for tomorrow. We are well positioned to capitalise on the growth already secured through long-term concessions and new opportunities ahead of us.”

Connected capacity increased 19% YoY to 1.57 million Refrigeration TonsRevenue of AED 2.46 billion and EBITDA at AED 1.27 billion, with a margin of 51.6%Abu Dhabi, United Arab Emirates – 13 February 2026: National Central Cooling Company PJSC (DFM: TABREED / ISIN: AEA002201018), the world’s leading and most diversified district cooling company, today announced its results for the period ending 31 December 2025, reporting revenues of AED 2.46 billion and net profit of AED 465 million. The results reflect continued operational resilience, record capacity expansion and disciplined capital execution.Total connected capacity increased 19% year-on-year to 1.57 million Refrigeration Tons (RT) as of 31 December 2025, driven by strong organic expansion and acquisitions. Excluding the impact of M&A, connected capacity growth was up 4.4% year-on-year, near the high end of the company’s guidance range. Organic additions reached 58,200 RT in 2025 — the highest level in the past five years — driven primarily by new connections in the UAE. Inorganic additions totaled 190,800 RT, resulting from the PAL Cooling acquisition in a 50:50 joint venture alongside CVC DIF. Three new greenfield plants were commissioned during the year and five operational plants were acquired as part of PAL Cooling, bringing the group’s total to 99 operating plants. Consumption volumes reached 2.62 billion RTH, a slight 1% year-on-year decline due to relatively colder weather conditions. Throughout the year, operational availability and efficiency remained high, reflecting Tabreed’s investment in innovative technologies and proactive asset management.Group revenue increased 1% year-on-year to AED 2.46 billion, underscoring the resilience provided by fixed capacity charges despite weather-related softness in consumption revenue. EBITDA increased by 1% year-on-year to AED 1.27 billion, with a margin of 51.6%, supported by operating leverage and efficiencies.Net profit for FY 2025 was AED 465 million, primarily reflecting the company’s continued operational strength while absorbing the impact of higher finance costs following the refinancing of low-cost debt at prevailing market rates and additional debt raised to fund Tabreed’s investment in PAL Cooling. Reported earnings also reflect one-off transaction costs related to the closing of the Palm Jebel Ali concession and PAL Cooling acquisition, as well as higher financing and fair value amoritisation charges related to the PAL Cooling JV.Strategic Milestones Completed the acquisition of PAL Cooling Holding in a 50/50 partnership with CVC DIF for an enterprise value of AED 4.1 billion, adding c. 600,000 RT of concession capacity across eight exclusive concessions on Abu Dhabi’s main island and Al Reem Island (ADGM)Signed a landmark joint venture and concession with Dubai Holding Investments to provide 250,000 RT of district cooling to Palm Jebel Ali. Construction commenced in Q3 2025, with first cooling expected in late 2027 or early 2028Commissioned three new greenfield plants during 2025 and added five operating plants as part of the PAL Cooling acquisition, deepening Tabreed’s presence across core markets and reinforcing high operational availabilityIn partnership with the UAE Ministry of Defence and Emerge, Tabreed completed the integration of around 4,000 solar panels supplying 2.4 MW of clean electricity to two Abu Dhabi district cooling plants. This reduces reliance on the grid during peak periods and prevents more than 2,600 tonnes of CO₂ annually Entered a long‑term framework with Johnson Controls to co‑develop next‑generation cooling technologies, including centrifugal chillers with variable‑speed drives and AI‑enabled performance analytics, supporting efficiency, reliability and regional climate‑neutrality goalsStrengthened the capital structure and liquidity profile through refinancing of debt and additional debt issuance, thereby extending average loan maturity and supporting growth investmentsCommenting on the full-year performance, Dr Bakheet Al Katheeri, Tabreed’s Chairman, said: “2025 was a transformational year for Tabreed, marked by major strategic steps that have strengthened our platform for both the medium and long term. The addition of PAL Cooling and the Palm Jebel Ali concession have deepened our presence in core markets and expanded the scale at which we operate. Across the business, our teams continued to deliver reliably for customers while investing in the systems and infrastructure that will support the company’s next phase of growth. As a national champion in district cooling, we are proud to support the UAE’s energy efficiency goals and remain focused on delivering capacity-led, concession-backed growth and creating lasting, sustainable value for our shareholders and stakeholders.” Financial ResilienceAs of year-end 2025, net debt to EBITDA stood at 4.6x, a temporary increase in leverage reflecting the impact of PAL Cooling acquisition. Liquidity remains robust, supported by a fully undrawn AED 1.2 billion Green RCF and the absence of any near‑term debt maturities. The company remains disciplined and focused in its capital allocation approach.Tabreed strengthened its financial position during 2025 through the issuance of a USD 700 million Green Sukuk in Q1, executed under its Green Finance Framework, with proceeds directed toward refinancing of debt obligations. In Q3, the Company doubled its Green Revolving Credit Facility to AED 1.2 billion from AED 600 million maintaining original terms. This increase materially improves Tabreed’s funding flexibility and underpins its broader creditworthiness. In Q4, the company raised AED 1.8 billion new bank debt to support its strategic growth initiatives and optimise its capital structure.Tabreed continues to hold investment-grade ratings from Moody’s and Fitch.Dividend and OutlookThe Board of Directors recommended a final dividend of 6.5 fils for H2 2025, bringing the total dividend for the year to 13 fils per share. This represents a payout ratio of 71% of 2025 normalised net profit, aligned with historical levels, despite significant investment undertaken to secure long-term growth.Tabreed enters 2026 with a strong and stable core business, supported by long-term contracted capacity, high operational availability and disciplined financial management. Capacity growth and margins are expected to remain within the company’s guided range, driven by continued real estate development, infrastructure expansion and delivery of new tourism destinations across the UAE and KSA. Demand fundamentals and customer relationships remain solid and the organic capex programme continues to progress on schedule.Looking ahead, medium-term growth will be reinforced by the integration and ramp-up of PAL Cooling and the buildout of Palm Jebel Ali, both expected to contribute positively as capacity comes online. With a well-capitalised balance sheet and proven execution capability, Tabreed is well positioned to deliver sustainable, capacity-led growth through 2026 and beyond. 

Sixteen Tabreed-branded Sparklomat machines to be positioned around the countryCollaboration predicted to collect more than four million bottles and cans annuallyAbu Dhabi, United Arab Emirates – 16 December 2025: Tabreed, the world’s leading district cooling company, has announced a new sustainability partnership with Sparklo, a UAE-based cleantech company building smart recycling infrastructure. The collaboration will see the installation of 16 reverse vending machines (RVMs) – called Sparklomats – across the UAE, enabling residents to recycle plastic bottles and aluminium cans in exchange for digital rewards.In accordance with the agreement signed by Khalid Al Marzouqi, Chief Executive Officer of Tabreed, and Sparklo’s founder, Maxim Kaplevich, one Sparklomat has been installed at Tabreed’s headquarters, while 15 others will be placed in high-traffic locations including Ferrari World Abu Dhabi, Yas Water World and a selection of malls in Abu Dhabi and Dubai. The initiative will make it easier for residents to recycle bottles and cans while earning bonus points in the Sparklo app, redeemable for discounts at grocery stores, taxi rides and more. Based on Sparklo’s average UAE collection data, the partnership is projected to collect more than four million bottles and cans annually, averaging 11,600 containers per day across the network. This is expected to prevent approximately 637,400 kilograms of CO₂ emissions each year, directly contributing to the UAE Net Zero 2050 and Circular Economy Policy goals, while encouraging sustainable behavior through positive motivation rather than obligation. Last year, a single Sparklomat recorded over 13,000 containers collected in a single day, demonstrating the product’s potential when placed in high-traffic locations.Khalid Al Marzooqi, Chief Executive Officer of Tabreed, said:  “At Tabreed, we believe that innovation and collaboration are essential to achieving the UAE’s Net Zero 2050 vision. This project with Sparklo reflects our commitment to decarbonisation through innovation and strategic partnerships, allowing us to make the places we cool more sustainable overall. By introducing smart recycling solutions in communities across Abu Dhabi, we are extending our sustainability efforts beyond our operations – creating real opportunities for residents and visitors to take part in climate action.”Maxim Kaplevich, Founder of Sparklo, added: “Sustainability works best when it’s built into people’s daily lives. Together, we’re addressing two sides of the same challenge: making the places where people live, shop, and spend time both more energy-efficient and more circular. This partnership shows how shared infrastructure and positive incentives can turn sustainability into everyday action, achieving real progress.”Maha Sallam, Chair of Tabreed’s Social Sub-committee, underscored the importance of this initiative, adding: “This is a clear demonstration of the importance of community to Tabreed, positioning our name in the spaces people use the most in their everyday lives. Sustainability is a mindset shared across the entire company, with everyone aligned on the importance of even the smallest contribution. Every time we set aside our plastics and other recyclables to be properly processed, it’s a positive step and proof that we’re aware of our collective impact on the environment.”This collaboration reinforces Tabreed’s 2024 sustainability commitments, including its Net Zero 2050 target, energy-efficiency retrofits, and supply chain decarbonisation principles. By integrating smart recycling infrastructure into its sustainability ecosystem, Tabreed continues to lead in advancing the UAE’s green transition through partnerships that create measurable, shared environmental impact.