ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix EBITDA by operating segment $m Q1 2024 Q1 2023 YoY (%) Retail (B2C) 174 148 17.1% Retail margin, % 11.1% 10.4% Commercial (B2B) 71 60 17.1% of which Corporate 51 46 10.3% of which Aviation 20 15 38.3% Commercial margin, % 8.7% 8.1% 1 Unallocated 4 3 Total reported EBITDA 248 211 17.6% Underlying EBITDA2 204 218 7.0% NM: Not meaningful ✓Q1 2024 EBITDA: +18% Y-o-Y driven by strong growth across all Q1 2024 EBITDA split businesses and positive impact of inventory gains Commercial (B2B) - aviation ✓Retail segment: +17% Y-o-Y supported by growth in volumes 8% and NFR business Commercial (B2B) - 20% ✓Commercial segment: +17% Y-o-Y corporate $248m1 ✓Underlying EBITDA: +7% Y-o-Y driven by volumes growth, higher Retail (B2C) - 70% fuel and non- contribution from non-fuel retail business, international assets and fuel delivery of OPEX reduction initiatives 19 ADNOC Distribution 1. Includes unallocated amount of $4 million (other operating income/expenses not allocated to a specific segment) © ADNOC Distribution 2. Underlying EBITDA is defined as EBITDA excluding inventory movements and one-offs