ADNOC Logistics & Services plc

ADNOC Logistics & Services Plc has signed shipbuilding contracts worth up to $2.5 billion with South Korean shipyards Samsung Heavy Industries and Hanwha Ocean for the construction of 8 to 10 Liquified Natural Gas (LNG) carriers. These vessels, to be delivered starting in 2028, will be time chartered for 20 years to ADNOC Group subsidiaries. This investment is part of ADNOC L&S's strategy to expand its fleet and has committed over 50% of its $5 billion medium-term investment target one year after its IPO. The new carriers will increase the company's LNG fleet from 14 to at least 22 vessels.

ADNOC Logistics & Services Plc (ADNOC L&S) and Samsung Heavy Industries have signed a Letter of Intent for the construction of at least three Liquified Natural Gas (LNG) carriers, with options for two additional carriers. Each carrier will have a capacity of 174,000 cubic meters and is scheduled for delivery in 2028. ADNOC L&S is a global energy maritime logistics company listed on the Abu Dhabi Securities Exchange, serving over 100 customers in more than 50 countries. For more information, visit www.adnocls.ae.

ADNOC Logistics & Services Plc (ADNOC L&S) and South Korean shipyard Hanwha Ocean Co. Ltd. have signed a Letter of Intent to construct a minimum of three Liquified Natural Gas (LNG) carriers, with options for at least two additional carriers. Each LNG carrier will have a capacity of 174,000 cubic meters and is scheduled for delivery in 2028. ADNOC L&S, listed on the Abu Dhabi Securities Exchange, is a global energy maritime logistics company serving over 100 customers in more than 50 countries. For more information, visit their website or contact their media and investor relations teams.

ADNOC Logistics & Services Plc (ADNOC L&S) and Samsung Heavy Industries have signed a Letter of Intent for the construction of at least three Liquified Natural Gas (LNG) carriers, with options for an additional two carriers. Each LNG carrier will have a capacity of 174,000 cubic meters and is scheduled for delivery in 2028. ADNOC L&S is a global energy maritime logistics company based in Abu Dhabi, serving over 100 customers in more than 50 countries. For more information, visit their website or contact them via email for media or investor inquiries.

The ADNOC Logistics & Services Sustainability Report 2023 discusses the company's efforts and strategies towards achieving a sustainable and resilient future.

The Annual General Assembly of ADNOC Logistics & Services PLC was held on 29th April 2024, with the option for shareholders to attend in person or virtually. The meeting took place at Sofitel Abu Dhabi Corniche Hotel at 4:30 p.m. (UAE time). Shareholders representing 84.19% of the company's share capital registered for the meeting to discuss the agenda and adopt relevant resolutions. The meeting was chaired by H.E. Dr. Sultan Ahmed Al Jaber, the Chairman of the Board of Directors, who declared the meeting quorate and appointed Mr. Ahmad Ma’abreh as secretary. The First Abu Dhabi Bank and Lumi were appointed as vote collectors.

ADNOC Logistics and Services (ADNOC L&S) has reported its Q1 2024 financial results, revealing a 42% year-on-year increase in revenue and a 44% rise in EBITDA. The company's net profit increased by 34% year-on-year to $194 million. As a result of the strong Q1 performance, the company has revised its earnings guidance upwards. Shareholders have approved a cash dividend of $130 million, equivalent to 6.45 fils per share for H2 2023. The company continues to execute its transformational growth strategy, with plans to invest over $5 billion in energy-related maritime logistics over the medium term.

The document is an unaudited review report and interim condensed consolidated financial information of NOC Logistics & Services plc as of 31 March 2024. The report is intended for users who are interested in finance and investing.