ADNOC Classification: Public Outlook for 2024 and beyond remains positive With the strong EBITDA growth and attractive shareholder payback, ADNOC Distribution continues to represent a compelling investment case. After delivering on a critical commitment to capital markets of generating in 2023 in excess AED 3.68 billion ($1 billion) EBITDA, the Company expects solid outlook for full year 2024 and beyond, underpinned by the volume growth momentum, higher contribution of non-fuel retail, growth in international activities and efficiency enhancement. The Company is rapidly developing fast and superfast EV charging infrastructure across its UAE network – a key component of its strategy to futureproof the business. In addition, ADNOC Distribution is exploring further options to grow in mobility and lifestyle as well as new revenue streams created through energy transition. The Company continues to search for value-accretive domestic and international expansion opportunities, including new markets – to generate additional value for its shareholders. ADNOC Distribution’s growth ambitions are underpinned by a solid macroeconomic backdrop. In 2023, UAE GDP expanded by 3.6%, including growth in non-oil GDP of 6.2%. More specifically, financial activities and insurance demonstrated growth of 14.3%. Transport and storage activities expanded by 11.5% driven by a significant increase in airport passengers: in 2023, total number of international visitors reached 31.5 million, a 25% increase compared to 2022. Construction and building activities saw an 8.9% growth and real estate activities increased by 5.9%. Finally, residency and food services sector demonstrated growth of 5.5% supported by an increase in international visitors in 2023: hotel guests were 28 million, an 11% increase year-on-year. ADNOC Distribution’s main market Abu Dhabi GDP grew by 3.1% in 2023 year-on-year. This was driven by a 9.1% expansion in the non-oil sector, supported by private consumption that was boosted by population growth and tourism rebound. The key divers of economic growth in Abu Dhabi in 2023 were construction sector (+13.1% year-on-year), transportation and storage (+17.1%), and financial and insurance sector (+25.5%). Abu Dhabi GDP growth accelerated in Q1 2024 to 3.3% year-on-year. This was driven by the growth of non-oil economic activities which expanded by 4.7%, led by transport and storage activities (+14.4%), finance and insurance activities (+9.7%) and construction (+9.5%). Non-oil activities contributed 54.1% to Abu Dhabi’s economy, which is the highest rate since 2015. Another strong signal of growth in economic activity is that according to the Dubai Department of Economy and Tourism (DET) in H1 2024 Dubai welcomed 9.31 million international overnight visitors which implies a 9% growth year-on-year. The UAE Central Bank estimates the country’s GDP growth for 2024 at 3.9% in 2024 before accelerating to 6.2% in 2025, with the non-oil GDP growth at 5.4% and 5.3%, respectively. IMF forecasts that the country’s real GDP will grow by 3.5% in 2024, which is one the highest rates among the GCC economies, accelerating to 4.2% in 2025 and 4.3% in 2026. Higher mobility and improved consumer confidence are both constituents of the UAE economic growth. They also led to the higher fuel volumes and number of non-fuel transactions recorded by ADNOC Distribution in H1 2024. Leveraging on its leadership position in the UAE, customer focus and best-in-class mobility and lifestyle experience, the Company has grown its fuel volumes at a faster rate than the country’s GDP growth, increasing H1 2024 retail volumes in the GCC markets by 5.4% and commercial volumes by 10.1% year-on-year. The fuel volumes were negatively affected by the severe storms in the UAE in April 2024 but recovered in full thereafter. Building on the strong execution and 2023 momentum, during Investor Day in February 2024 ADNOC Distribution unveiled key strategic initiatives and focus areas. The Company is ready for the new phase of growth which will see ADNOC Distribution transforming from a fuel distributor into a multi-energy, convenience and mobility leader. The Company is scaling up its portfolio of low-carbon energy solutions including biofuels, EV and hydrogen to support de-carbonization of the transport industry, and is expanding its non-fuel retail offerings. 7 | P a g e