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The document contains the reports and financial statements for Dubai Refreshment (P.J.S.C.) for the year ending December 31, 2024.

On 11 February 2025, the Board of Directors of Dubai Refreshment P.J.S.C held a meeting at their premises in Dubai Investment Park 2 and via online video technology. During this meeting, they approved the financial statements and the Integrated Report for the year 2024. Additionally, they agreed on the date and agenda for the Annual General Assembly, scheduled for 12 March 2025 at 12:00 PM, to be held at the company premises and online, pending approval from the Securities and Commodities Authority (SCA).

Taaleem Holdings PJSC, a prominent K-12 education provider in the UAE, has announced the signing of a Musataha Land Lease Agreement with the Abu Dhabi Department of Education and Knowledge. This agreement, in partnership with Harrow International Schools Limited and the Abu Dhabi Investment Office, will facilitate the launch of Harrow International School Abu Dhabi. The school will be located on a 70,369 sqm plot on Saadiyat Island, known for its cultural and luxury offerings. Harrow International School Abu Dhabi will feature modern facilities and a British-style curriculum, enhancing Taaleem's portfolio and addressing the demand for high-quality educational institutions in the region. The school aims to provide an exceptional educational experience and strengthen Taaleem's educational offerings.

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.

Dubai Islamic Bank announced its financial results for the year ending December 31, 2024, highlighting significant growth and improvements. The bank reported a 27% year-over-year increase in pre-tax profit, reaching AED 9 billion, and a 16% rise in net profit to AED 8.165 billion. Total income grew by 16% to AED 23.341 billion, while net operating revenues increased by 10% to AED 12.837 billion. The bank's total assets expanded by 10% to AED 345 billion, and customer deposits rose by nearly 12% to AED 249 billion. The non-performing financing (NPF) ratio improved to 4.0%, down 140 basis points from the previous year, with cash coverage at 97%. The cost-to-income ratio decreased by 40 basis points to 26.7%, and liquidity coverage ratio remained strong at 159%. Capitalization ratios, including CET1 at 13.2% and CAR at 18.3%, indicated robust financial health. The bank also increased its stake in a digital bank in Türkiye to 25% and proposed a 45% dividend, pending shareholder approval.

The consolidated financial statements of Dubai Islamic Bank P.J.S.C. for the year ending December 31, 2024, have been audited. These statements require approval from the Central Bank of UAE and adoption by shareholders at the Annual General Meeting.