ARAMEX PJSC

Aramex PJSC has scheduled a meeting for Wednesday, 26 February 2025, at 6:00 PM UAE Time. The agenda for the meeting includes a discussion of the company's business updates and routine matters. Amanda Dahdah, the Governance Officer and Board Secretary, is the authorized signatory for the meeting notice.

Aramex PJSC announced an update on the voluntary conditional cash offer from Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire up to 100% of Aramex's shares not already owned by Abu Dhabi Ports Company PJSC. On 15 February 2025, Aramex received information from ADQ about the appointment of EFG Hermes UAE Limited, International Securities LLC, and Emirates NBD Capital as co-lead managers for the offer. The details of these appointments are included in an attached letter. The announcement was made by Amanda Dahdah, Governance Officer and Board Secretary of Aramex PJSC.

On February 11, 2025, the Board of Directors of Aramex PJSC met to discuss a voluntary conditional cash offer from Q Logistics Holding LLC to acquire the shares of Aramex not already held by Abu Dhabi Ports Company PJSC. HSBC, serving as Aramex's independent financial advisor, provided a fairness opinion on the offer. The Board resolved to recommend this offer to Aramex's shareholders. A shareholders' circular is enclosed, containing the Board's recommendation and the fairness opinion, in compliance with the Securities and Commodities Authority's rules on acquisitions and mergers.

Aramex reported an 11% year-over-year increase in revenue for both the fourth quarter and full year 2024, reaching AED 6.3 billion and AED 1.7 billion, respectively. This growth was attributed to strong performance across its product lines, including Express, Freight Forwarding, and Logistics. The company's gross profit rose by 3% in Q4 and 6% for the year, with a gross profit margin of 24%. Net profit for the year increased by 10% to AED 142 million. The GCC and MENAT regions showed double-digit growth, while Oceania experienced nearly 50% growth in revenue and gross profitability. Aramex benefited from a trend towards nearshoring, which boosted domestic express and cross-border activity. The company continues to invest in technology and automation to enhance efficiency and value. Aramex maintained a strong financial position with a cash balance of AED 513 million and a debt-to-EBITDA ratio of 2.9x. The devaluation of foreign currencies, particularly the Egyptian pound, impacted financial results. Excluding this impact, full-year revenue was AED 6.4 billion, with a net income of AED 144 million.

On February 11, 2025, Aramex PJSC held a board meeting attended by nine board members. Key decisions included the approval of audited financial results for the fiscal year ending December 31, 2024, and setting the Annual General Assembly for March 20, 2025, pending regulatory approval. The board decided to recommend against distributing dividends for the fiscal year, citing capital allocation priorities for transformation and growth programs. They also discussed a fairness opinion from HSBC regarding Q Logistics Holding LLC's offer to acquire Aramex shares, which was deemed fair and recommended to shareholders. Routine business updates were also discussed.

On 9 February 2025, Aramex PJSC announced the receipt of a voluntary conditional cash offer from Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company (ADQ), to acquire up to 100% of Aramex’s share capital not already held by Abu Dhabi Ports Company PJSC. The offer details are provided in the received Offer Document. Aramex’s Board of Directors will meet on 11 February 2025 to review the offer. Further announcements, including the publication of the required offeree circular, will follow in accordance with the relevant regulatory rules.

On February 9, 2025, Aramex PJSC received an offer document from Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company PJSC, detailing a voluntary conditional cash offer to acquire up to 100% of Aramex's share capital not already owned by Abu Dhabi Ports Company PJSC. The Aramex Board of Directors is scheduled to meet on February 11, 2025, to review the offer and will make further announcements, including publishing an offeree circular in line with acquisition and merger rules.

The text is a formal notification from Amanda Dahdah, Governance Officer and Board Secretary of Aramex PJSC, addressed to Hamed Ahmed Ali, the CEO of the Dubai Financial Market. It informs him about the upcoming earnings call for Aramex PJSC scheduled for Tuesday, 18 February 2025, at 2:00 PM UAE time. The meeting will discuss the financial results for the fourth quarter and the full year ending 31 December 2024.

Aramex PJSC has scheduled a meeting on Tuesday, 11 February 2025, at 3:00 PM UAE Time. The agenda includes discussing the approval of the company's audited financial results for the fiscal year ending 31 December 2024, setting a date and agenda for the Annual General Meeting of shareholders, considering a recommendation on dividend distribution for the same fiscal year, reviewing business updates and routine matters, and providing an update on the offer from Q Logistics LLC and the next steps for the company. The meeting details are authorized by Amanda Dahdah, Governance Officer and Board Secretary of Aramex PJSC.