Press releases, Reports & Disclosures for National Central Cooling Co.

Tabreed, a leading district cooling company in the UAE, reported strong financial results for the first half of 2024, driven by increased consumption volumes and strategic expansion. The company saw an 8% year-on-year increase in cooling demand, leading to a 4% rise in net profit before tax to AED 291 million. EBITDA grew to AED 603 million, and group revenue increased slightly to AED 1.08 billion. The EBITDA margin improved to 56%. Tabreed also generated free cash flows of AED 978 million over the past 12 months, reducing its debt by 12% through repurchasing USD 207 million of its outstanding sukuk. Including previous buybacks, the total repurchased sukuk amounts to USD 240 million. The company increased cash dividends by 15% year-on-year. Additionally, Dr. Bakheet Al Katheeri was appointed as Chairman, and Mansoor Mohamed Al Hamed joined the Board of Directors.

On August 8, 2024, a notification was sent to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding a Circular Resolution passed by the Board of Directors of the National Central Cooling Company PJSC ("Tabreed"). This resolution, in accordance with Article 36 of the Disclosure and Transparency Regulations Number 3 for the Year 2000 (as amended), includes the following approvals: a) The resignation of Mr. Khaled Al Qubaisi as Chairman and Board member of the company. b) The appointment of Sheikh Mansoor Mohamed Al Hamed as a Board member, replacing Khaled Al Qubaisi. c) The appointment of Dr. Bakheet Al Katheeri as the Chairman of the Board of Directors.

Date: 05 August 2024 Ref.: TB/LD/SM/9 80-08-24/LB To: H.E. Dr. Maryam Butti Al Suwaidi Chief Executive Officer Securities & Commodities Authority Abu Dhabi, UAE Mr. Hamed Ahmed Ali Chief Executive Officer Dubai Financial Market Dubai, UAE Subject: Earnings Call of National Central Cooling Company (PJSC) (Tabreed) to be held on 9 August 2024 Greetings, With reference to the above subject, Tabreed will convene an earnings call on 9 August 2024 at 3:00 PM to discuss the financial results for the period ended on 30 June 2024. Yours Sincerely, Sean Magee Company Secretary

On 5 August 2024, a notification was sent to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority in Abu Dhabi, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding a Circular Resolution to be distributed to the Board of Directors of the National Central Cooling Company PJSC on 8 August 2024 at 1:00 PM. The resolution will address the resignation and appointment of a Board member, the financial results for the first half of the year ending 30 June 2024, and the business operations of the company. The notification was issued by Sean Magee, Company Secretary.

Tabreed, a leading district cooling company, participated in the Big 5 Construct Egypt event, engaging with developers, architects, planners, engineers, consultants, and government officials to discuss the benefits of district cooling for sustainable cities. The event, which focuses on technology and sustainability, provided a platform for Tabreed to highlight the efficiency and environmental advantages of district cooling. CEO Khalid Al Marzooqi emphasized that district cooling uses 50% less energy than conventional air conditioning and significantly reduces carbon emissions. Tabreed already operates in Egypt, providing cooling for Downtown Katameya in New Cairo, and sees potential for further expansion amid the country's construction boom.

Tabreed, a leading district cooling company, published its fourth annual ESG Report for 2023, highlighting significant progress in decarbonizing cooling. The report details a reduction in energy consumption by 2.52 billion kWh and a prevention of 1.5 million metric tons of CO2 emissions. In 2023, Tabreed integrated renewable energy into its operations, including the launch of the region's first geothermal-powered cooling plant in partnership with ADNOC. The company also purchased 116,000 MWh of solar-sourced Clean Energy Certificates and participated in the Dubai Financial Market's carbon credits trading pilot. Additionally, Tabreed engaged in various Corporate Social Responsibility initiatives, supporting startups and young entrepreneurs focused on climate solutions and partnering with Emirates Red Crescent during Ramadan.

The document is a communication dated 15 May 2024, addressed to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority in Abu Dhabi, UAE, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market in Dubai, UAE. The subject of the letter is the earnings call of the National Central Cooling Company (Tabreed) held on the same day. The call, which took place at 3pm, discussed the financial results for the period ending on 31 March 2024. The earnings call documents are available on the company's website, under the Investor Relations section. The letter is signed by Sean Magee, the company secretary.

On 14 May 2024, a board meeting was held by the National Central Cooling Company (Tabreed). According to Article 36/7 and 36/11 of the Disclosure and Transparency Regulations number 3 of 2000, the board approved the Un-Audited Interim Accounts for the period ending 31 March 2024. Additionally, the board approved the release of these accounts, along with a press release, to the Securities and Commodities Authority and the Dubai Financial Market. The information was communicated by Sean Magee, the company's secretary.

Tabreed, the UAE's leading international district cooling company, has released its Q1 2024 financial results, showing a 9% year-on-year increase in consumption volumes for its cooling services. The company reported a net profit before tax of AED 122 million, a 4% increase from the same period in 2023. Tabreed's EBITDA margin was 58%, compared to 57% in Q1 2023, with group revenue of AED 468m for Q1 2024. The company also achieved a cash conversion rate of 90% and a net debt to EBITDA ratio of 3.97x at the end of Q1 2024. The company has repurchased a total of USD 240 million (AED 880 million) of its outstanding sukuk due in 2025, as part of its active management of its debt profile.