National Central Cooling Co.

The text is a formal notification dated 9th May 2024, addressed to Dr. Maryam Butti Al Suwaidi, CEO of Securities & Commodities Authority in Abu Dhabi, and Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market. The document, sent by Sean Magee, the Company Secretary of National Central Cooling Company (PJSC), is to inform them about a board meeting scheduled for 14th May 2024. The meeting will review the financial results for the first quarter ended 31 March 2024 and discuss the business and operations of the company. This notification is in accordance with Article 36/11 of the Disclosure and Transparency Regulations number (3) for the year 2000 (as amended).

The CEO of the Securities & Commodities Authority, Dr. Maryam Butti Al Suwaidi, and the CEO of Dubai Financial Market, Mr. Hamed Ahmed Ali, received a letter on 9th May 2024 regarding an upcoming earnings call. The National Central Cooling Company (Tabreed) will hold an earnings call on 15th May 2024 at 3.00pm to discuss the financial results for the period ending on 31st March 2024. The letter was signed by Sean Magee, the Company Secretary.

The National Central Cooling Company (Tabreed) has successfully initiated a tender offer for the repurchase of some of its outstanding U.S.$500,000,000 Trust Certificates due 2025. The offer, which was first announced on March 18, 2024, and extended until April 3, 2024, resulted in the acceptance for repurchase of U.S.$200,688,000 of these trust certificates. An additional U.S.$39,000,000 of these trust certificates had been purchased by Tabreed prior to the tender offer announcement. The total amount that Tabreed has bought back and accepted for purchase is U.S.$239,688,000 out of the outstanding U.S.$500,000,000 trust certificates. This buyback is part of Tabreed's strategy to effectively manage its debt profile, optimize its cost of funding, and strengthen its balance sheet.

Tabreed, a leading international district cooling company based in the UAE, has celebrated its most successful year to date in 2023. In its Annual General Assembly, shareholders approved a record high dividend payment of 15.5 fils per share, representing a 15% increase from the previous year. The company also reported a 9% growth in revenue and a 25% increase in net profit before tax. Two new board members, Geert Bunkens and Marion Deridder Blondel, were appointed during the meeting. Tabreed's Chairman, Khaled Abdullah Al Qubaisi, highlighted the company's growth strategy and its role in global cooling discussions during COP28. The company added 53,000 refrigeration tons of new connections and six new plants to its portfolio in 2023, and operates in six countries, including India.

The text is a communication 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. It discusses the resolutions adopted at the Annual General Assembly meeting of the National Central Cooling Company PJSC (Tabreed) held on 19 March 2024. The main resolution is to authorize the Board of Directors to issue non-convertible bonds and/or sukuk up to a total value of USD 1 billion to qualified investors over the next 12 months. The profit rate will not exceed the prevailing market rate for companies with the same credit rating as Tabreed.

The text is a disclosure regarding the approval of delegations to attend general assemblies. According to clauses 1 and 2 of Article 40 of the Corporate Governance Manual, shareholders with the right to attend the general assembly may delegate someone other than board members or company staff to represent them. The delegated person can have no more than 5% of the company's issued capital after gaining the delegation. The shareholder's signature on the power of attorney must be approved by a notary public, a commercial chamber of economic department in the state, a state-licensed bank or company, or any other entity licensed to perform attestation works.

The text is a letter dated 16th February 2024, addressed 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. The subject of the letter is an earnings call held by the National Central Cooling Company (Tabreed) on 15th February 2024. The call discussed the financial results for the period ending on 31st December 2023. 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.

Tabreed, a leading UAE-based international district cooling company, has reported a 9% increase in revenue for the year 2023, amounting to AED 2.4 billion. The net profit attributable to the parent company, before deferred tax, is AED 751 million. The company's net debt decreased in 2023 due to strong cash generation and a decline in gross debt, resulting in an improved net debt/EBITDA ratio of 4.11x. The company's net finance costs also reduced by 24% due to prudent financial management. Tabreed's Board of Directors has recommended a new record dividend payment of 15.5 fils per share for FY 2023, reflecting the company's strong financial performance and positive outlook.

The Board of Directors at the National Central Cooling Company (Tabreed) held a meeting on 14th February 2024. In accordance with the Disclosure and Transparency Regulations number (3) for the year 2000, they approved the audited accounts of the company for the period ending 31st December 2023. They also approved the release of these accounts and a press release to the Securities and Commodities Authority and the Dubai Financial Market.