2022 2023 Flaring volume (MMSCF) 23,925 25,976 Decarbonizing our operations Energy efficiency Driven by a company-wide energy management system, we have taken concrete steps to implement a variety of energy efficiency projects targeting both energy supply and demand across our operations. These include the deployment of technology and AI; implementation of operational improvements; waste heat recovery; use of renewable energy; and the installation of more energy-efficient equipment. ADNOC has established an integrated energy monitoring system as part of our Panorama Digital Command Center, giving us extensive measurement capabilities across our value chain. Since its launch in 2017, the Panorama Center has achieved a 15% saving in energy expenditure. Using Panorama we can identify optimization opportunities that will drive further reductions in our energy footprint. Working alongside Panorama, our Thamama Center of Excellence is an advanced digital technology hub for subsurface and reservoir management. Thamama harnesses the power of smart analytics to convert seismic and reservoir data into valuable information and actionable insights, unlocking cost optimization and energy efficiencies. In 2023, we achieved about 900 ktCO2e reductions due to energy efficiency initiatives. We aim to achieve a 5% energy efficiency improvement by 2025 compared with a 2018 baseline. Electrification We are decarbonizing our offshore operations through the construction of a first-of-its-kind sub-sea transmission network, in partnership with TAQA, that will replace existing gas turbine generators with imported grid power from nuclear and solar sources. This $3.8 billion (AED14 billion) investment is expected to reduce our offshore carbon footprint by up to 50% by 2026. In partnership with Emerge, a joint venture between Masdar and EDF, we are decarbonizing our electricity supply across our ADNOC Distribution service station network by installing on-site solar panels. This partnership not only helps with the decarbonization of our operations, but also reduces our demands on the power grid. In 2023, these and other projects across the ADNOC Group of Companies generated over 20,667 MWh of solar energy. Flaring Our zero routine flaring policy, established in the 2000s, was a major milestone in reducing our flaring and methane emissions. We progressed in 2023 by becoming a signatory of the Oil and Gas Decarbonization Charter, led by the COP28 Presidency, rallying more than 50 oil and gas companies around clear targets to eliminate routine flaring and zero methane emissions by 2030. Despite implementing flaring improvement measures, such as retrofitting vapor recovery systems and enhancing operational and maintenance programs, the overall flaring volume in 2023 was marginally higher (8.6%) than in 2022 due to unplanned outages and operational upsets. The World Bank Global Gas Flaring Tracker Report annually lists the UAE as having one of the lowest flare volumes and flaring intensities among oil and gas producing countries Since January 2022, we have acquired 100% of our imported grid power from clean energy sources. In 2023, an abatement of 4.8 million tCO2e was achieved. To enhance our emissions monitoring, we are developing a data management platform to integrate the end-to- end, well-to-product traceability and accounting of our carbon footprint. We are also improving our emissions monitoring technology, adopting an integrated predictive emissions monitoring system and a continuous emissions monitoring system across our major emitting assets and sources. Our decarbonization levers to achieve 25% reduction in upstream GHG intensity by 2030 Energy Efficiency 6% Energy Efficiency Flare Reduction 2% Flare Reduction Operational Practices Electrification 15% CCS 25% Grid Power 51% Fuel Change 1% 25% reduction by 2030 We have set an ambition to achieve net zero by 2045 and reduce our carbon intensity by 25% by 2030. Our Net Zero by 2045 ambition supports the goals of the Paris Agreement and the UAE Consensus. We are focused on achieving greater energy efficiency, zero routine flaring, reductions in methane emissions, the electrification of our onshore and offshore operations using nuclear and solar energy sources, and applying carbon capture and storage technologies. To deliver on our emissions reduction goals, we have continued to enhance our carbon management framework. We are developing our management processes and business plans, bringing them together to ensure tangible progress, and we are strategically allocating capital towards our abatement portfolio. ADNOC’s upstream GHG emissions in 2023 were 24 million tCO2e. Our 2023 upstream GHG intensity is among the lowest in the industry at ~7kg CO2e/boe. This is a result of decades of investment in operational excellence, energy efficiency and flaring reduction. In 2023, we implemented projects that resulted in an emissions reduction of 1.4 million tCO2e across our value chain. 2022 2023 Upstream emissions (million tCO2e)1 24.1 24.0 Upstream GHG intensity (CO2e/boe)2 7.2 7.2 Upstream emissions and intensity Flaring 109 2022-2023 operational emission reductions (ktCO2e) Operational practices refer to operational improvements such as optimized shutdowns, quicker maintenance turnaround, etc. 1 Upstream GHG emissions reporting in line with the International Association of Oil and Gas Producers (IOGP), which includes oil and gas production and processing. Data has undergone external limited assurance in accordance with ISAE 3000. 2 Upstream GHG intensity excludes gas processing activities. 1 Flaring data has undergone an external limited assurance in accordance to the ISAE 3000. 897 897 115 267 220 76 2022 1,193 1,384 2023 Electrification 33 Energy for Life 32