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Tabreed’s Shareholders Elect Four New Board Members

Tuesday, September 12, 2017

Election follows successful completion of ENGIE investment in Tabreed

National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today the election of four new members to the company’s Board of Directors.

The election of the four members to Tabreed’s Board of Directors was made by the company’s shareholders at a General Assembly held yesterday in Abu Dhabi and these elections fill all Board positions that became vacant on 10 August 2017.

The General Assembly, which was chaired by Khaled Abdulla Al Qubaisi, Tabreed’s Chairman and attended by Tabreed’s Board of Directors and shareholders, follows the successful completion of the investment by ENGIE, the global energy company, to acquire 40% of the shares in Tabreed.

The four new Board Members, who are all senior executives at ENGIE, are: Paulo Almirante, Executive Vice President, ENGIE Group; Sébastien Arbola, CEO, ENGIE Middle East, South & Central Asia and Turkey; Frédérique Dufresnoy, Deputy Director Métier Business to Territories and Frederic Claux, Head of Acquisitions, Investments and Financial Advisory

Commenting on the announcement, Mr. Khaled Abdulla Al Qubaisi, Tabreed’s Chairman of the Board of Directors, said: “We are pleased to welcome to Tabreed’s Board four new members who are seasoned senior executives. Their wealth of experience and diversified expertise in both emerging and established markets will add significant value to the Board and support Tabreed in delivering on its ambitious vision.”

Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 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.

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