ADNOC Classification: Public ADNOC Classification: Public The Company’s non-fuel retail gross profit increased by 13.5% YoY in Q2 2024 to $56 million, driven by contributions from the expanding car wash business, supported by new initiatives such as tunnels and upgraded automatic car washes, as well as enhanced convenience store offerings and other car services. Growth was further supported by higher inventory gains and significant progress in cost optimization, with $10 million in like-for-like OPEX savings achieved in H1 2024. Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “ADNOC Distribution continues to achieve strong financial results. The strong Q2 2024 results, marked by double-digit growth in EBITDA and net profit, highlights our effective pursuit of the Company’s five-year strategy, focusing on domestic growth, international platforms, future-proofing the business, and investing in convenience and mobility. We are well-positioned to build on this momentum in the second half of the year, leveraging our increasingly diversified revenue streams to continue delivering value to shareholders.” “To constantly meet changing consumer demands, we are committed to the pursuit of pioneering AI, technology, and innovation-enabled growth to continuously unlock value. To that end, we are embedding AI within our operational framework, developing wide-ranging digital solutions, yielding significant and measurable efficiencies.” The Company generated a strong free cash flow of $330 million in Q2 2024, a 7x increase compared to Q2 2023. In H1 2024, the Company’s free cash flow stood at $488 million, representing 46.7% YoY growth, while maintaining a robust balance sheet with a net debt-to- EBITDA ratio of 0.53x as of 30 June 2024. This strong financial standing positions the Company favorably for future growth and shareholder value creation. The H1 2024 dividend of $350 million is expected to be distributed to shareholders in October 2024, subject to the discretion of the Board of Directors. This is in line with the Company’s approved five-year dividend policy that sets an annual dividend of $700 million (20.57 fils per share), or a minimum 75% of net profit, whichever is higher. This policy ensures long-term visibility of shareholder distributions, reinforcing ADNOC Distribution’s commitment to consistent shareholder value. Operational Performance ADNOC Distribution demonstrated strong performance in Q2 2024. The Company’s non-fuel retail business continued to perform strongly during the quarter. By focusing on improved customer experience, enhanced products and services, and the deployment of new standalone convenience stores and car wash tunnels, non-fuel transactions increased by 8.9% YoY in H1 2024, with growth accelerating to 10.9% YoY in Q2 2024.