Champions of the Falcon Economy, with ADX

Good morning ladies and gentlemen uh distinguished shareholders hopefully current shareholders and uh sorry current shareholders and future shareholders hopefully industry partners uh colleagues and friends welcome to Abu Dhabi welcome to Abu Dhabi finance week and uh it's my Honor to be standing before you to share with you quick insight about adnip distribution. This year we celebrated 52 years uh since our inception half a century marked with innovation, growth, uh value creation and reward to our shareholders. uh if you if you live in Abu Dhabi or the UAE and you know Adno, we are the one company of Adno group of companies that you interact with every day. We have the privilege to serve you when you pass by our destinations for fueling charging re-energizing with our coffee to car wash and much more. So that privilege of serving you, we are we are coming from an industry of service providing and we are privileged to be able to serve you every day.

We have a leading position in this sector in this country. We have a 60% market share and today uh we operate in uh the UAE in the Kingdom of Saudi Arabia and Egypt serving millions every day. This company is built on that legacy, a legacy that have allowed us to evolve over the years. And today we are proudly the number one fuel retailer in the UAE. We are the number one uh homegrown specialtity coffee provider in the UAE.

We are the number one lubricant uh uh loop oil uh brand in the UAE. And we are the largest third largest uh company listed in our sector globally with a market cap that is close to 13 billion US. We have grown and evolved since the IPO. We were the first company to be listed by the group of Adno group of companies and we have more than doubled our uh financial performance. Today we are standing at a $1 billion IITA company.

70% growth since the IPO. Today as a company we have distributed dividends north of 5 billion US and we have uh we are enjoying an industryleading margins that uh are second to none thanks to the uh strong backing from Adnook the anchor shareholders of ADN distribution. Our momentum is growing. We have clear strategy of growth. We have disciplined growth strategy.

We have allocated 250 to300 million US dollars of capex on for organic growth in the UAE Kingdom Saudi Arabia and Egypt. And we have the balance sheet and capabilities to fund inorganic growth through acquisition north of2 billion US dollars. So we have the uh the horsepower to continue to fuel growth. What we are consumed with and focused on is smart growth. Growth that will bring value back to our shareholders, willow allow us to sustain our dividend policy and continue to reward our shareholders.

We are also future proofing of the business. We are very focused on growing the nonfuel side of the business. We are definitely the leading company when it comes to the fuel, but the non-fuel side of the business is something that we are constantly evolving and uh reinovating ourselves. We have a target to grow the nonfuel business and we have been doing so over the last uh at least 18 months doubledigit growth 15% growth in the NFR side of the business. This is done by reinovating our car wash fleet.

This is by done by uh reimagining the convenience store. We've recently rebranded Oasis by ADNO providing a value proposition that uh we are proudly uh um take pride in in in serving the customers with and we also establishing new partnerships partnerships with the likes of Noon and Landmark and uh and uh QSR's international names such as Starbucks and McDonald's and Burger Kings doing franchising business ourselves creating more value and monetizing monetizing our land bank to create value and future for the business beyond uh uh uh the fuel business. We're also looking into the future. We've talked we've heard recently and previous speaker was here talking about the energy transition and we are also not far from that. We are looking at the future forms of mobility uh sustainable mobilities.

EV is evolving and evolving very fast and we we stand ready to capitalize on this business model. We believe that through our network uh particularly in the UAE particularly on main highways on the way to Dubai on the way to the northern Emirates we have a full coverage on those E11 311 and 611 if you're familiar with the key highways of the United Emirates providing EV car owners with a destination where they can safely plan their journey and avail the chance to recharge uh their cars within 20 minutes. We have an aspiration to roll out and we are on track to roll out 500 to 700 charging points uh by 2020 20 by 2030. So future proofing the business is very important. Our momentum has built up and we've recently announced new sets of targets that are driving actually an acceleration our share price.

We have now full confidence that our smart growth strategy is yielding results and our new targets. We've upped the number of target stations by 2028 from a,000 station to 1,150 station that will be uh uh erecting and we have full confidence in our business development capabilities our knowhow in executing those projects within capex and within the right locations. We are very much consumed about finding the right location, location, location, location so that we become we remain relevant to our customers. We are also upped our uh target when it comes to nonfueled side of the business. We want now to double the number of transactions coming from the nonfield business from the 20 uh 23 mark.

We are going to continue also to grow a new concept. We've recently launched a concept called the hub. The hub is uh reimagining the future is something that is new in this region and I think globally we would say it's also a landmark is three times the uh size of the uh sites we normally uh developed our aim is to develop uh 30 sites by 2030 and uh uh that will contribute nearly 30 million US dollars into our bottom line. This is a targets that we have uh we have full confidence in delivering. We also uh updated our uh dividend policy.

We are committing to continue to distribute 700 million US of dividend to our shareholders as a floor or 75% of our net income whichever is higher and we've extended the dividend policy until 2030. Uh this is a testament in our confidence in value creation in our execution capability. colleagues, I think I'm running out of time. The story about the distribution, the story of uh thank you for joining us at uh Abu Dhabi Finance Week. Uh I'm Rahul Rahman, CFO at NOK Logistics and Services, a company that has rapidly transformed into a global global leader in energy maritime logistics uh delivering consistent value and growth.

Our journey began in 2016 when ATNO merged three of its legacy uh subsidiaries named Abu Dhabi National Tanker Company at Nico uh ISNA the petroleum services and offshore logistics company and Shad the Abu Dhabi ports operating company to forming ATNO logistics and services. a unique platform which unlocked significant operational efficiencies and synergies for ATNO as a group and for the company as well. Now what we did after that is we worked on enhancing our logistics capabilities. Uh we entered new markets internationally. uh we secured long-term contracts with industry leaders like Burge uh Adno offshore and adnoc onshore.

Further on what we did from 20 2017 to 2020 is we entered into uh JV with ata chemicals group based in Singapore where they wanted six VGC's to be owned and operated by the JV. Now this underpinned by a long-term contract of 10 years uh was the initial agreement with them which ever since then has grown into uh 19 vessels with each vessel being 20 years long-term contracted to one chemicals. Further on we went on to acquire Zakar Marine International a Jacob Barge operator which today stands as the largest Jacob Barge fleet owner on the globe. Then in 2025 is when we acquired Nate uh the largest private vessel pool operator at that point of time and the largest back-to-back bunker trader. Uh all this enhanced our asset base and future proofed our business in ways which uh I have already mentioned about.

Now our financial trajectory speaks for itself. Since 2017, we have grown our revenues by a ker of 21% from 900 million dollars in 2017 to 3.55 billion in uh 2024. Our 2023 IPO was a big success 16 168 times overs subscribed. Plus in 2023 itself our share prices doubled a a testament to strong market confidence in our strategy and execution.

Today Adno lenders owns 340 vessels and jackup barges. We control or rather we charter in 600 odd vessels on an annual basis. Yep. We serve 100 customers in our 50 plus countries yet through our 19 offices in various cities across the globe. The services we provide are very diverse in the sense uh we have we operate uh integrated logistics.

Integrated logistics for both oil and gas both onshore and offshore. Uh then we go on to uh we we transport crude oil and all its derivatives. We ship LNG, LPG, uh ethane with our fleet of vessels. We operate petroleum ports. Uh we like we said are the largest back-to-back bunga trader bunga trader on the globe.

We are a leading beneficiary of adnox uh strategy and growth uh with forward contracted revenues uh of about 25 $25 billion of which $20 billion is from ATNO group alone. We have a strong AIDA outlook. We expect to grow our AIDA at a 9% ker through to 2029. We were added to the Msei index last month and all analysts who track us rate at no lenders a strong by our free float has increased uh to 22% and the average traded volumes have more than tripled from last year as of now. So if you ask why invest in adnoc logistics and services what we offer is a proven track track record of consistent revenue and aida growth underpinned by long-term contracts and a diversified portfolio of services which we offer a global reach which we have already mentioned strategic partnerships with NOC's IOC's and global trading uh giants like Glenor and Vital We have a huge growth pipeline as we already discussed something around $25 billion in in in forward contracted revenues.

Yeah. Strong governance and market recognition. Uh test testified by MSEI inclusion. Yeah. And a commitment to sustainability.

A commitment to incountry value. a commitment to uh local development supporting the UAE plus a net zero ambition which no other shipping company or logistics company has announced as of now. So we expect to be net zero by 2045. So in summary, ADNO logistics and services offers investors a unique opportunity to participate in the growth of a global logistics leader. Yeah.

which combines scale, resilience and innovation which further future proofs our growth. Thank you all for your attention and we we look forward to discussing with you how you can be part of our journey. Thank you very much. Hi everyone. Good morning.

Thank you for having me here. It'd be great. My moment here before the orchestra sings me off is to talk about photog introduce you or update you depending uh on your level of awareness for us. So we are the largest seaborn ammonia and ura exporter globally. You can see this here.

And this time last year, ADNO purchased a majority stake in us because they recognized our value as of now and our future growth potential. I'd like to take you through some of those elements. So obviously being the largest seabboard and ammonia exporter globally is a massive advantage. Uh bulk size is massive in the industry that we're doing. But also in terms of food security, we've got a major contribution to global food security.

Our world population is forecast to grow by 11% to 2040. More people are also needed to be fed in the same area and also with climate change that is putting even more pressure on food. Without our product the following year if it is not applied you have a 40% reduction in your harvest yield. Basically, our products are essentially keeping alive over sort of four billion of the population we have at the moment. So, global food security is incredibly important.

Uh, and obviously one of those inelastic components which keeps on growing and growing. What about Fert Globe? Well, we're not only the largest exporter, we're also got some of the youngest assets in the industry. And I think Adnot was particularly interested in our location. We're here at the crossroads of Europe, Africa, and Asia where you particularly see that growth.

We've got advantage freight rates which make us uh highly competitive against some of our competitors through our North Africa bases. We have no sewage canal charges. We have no import duty into Europe which is uh one of the sort of strongest markets that uh for uh these products and we actually from this position are able to serve 44 countries from this freight advantage locations. Not only that 70% of our base cost is gas. We have access to lowcost gas which continues to give us that advantage over our competitors.

Now, not only did ADN not see the food security global advantage that we offered, it also looked at the significant long-term growth potential in lowcarbon ammonia. So, for those of you that don't know, one of our products, ammonia, is the most energy dense non-hydrocarbon media liquid in the world. And that is a great position for lowcost fuels and energy in the future. These slides here, this graph here shows from 2030 to 2040 at least a 15% kaga or further in this area as these products are applied as the future marine fuel uh to power solutions and for hard to abate industries like steel, copper, these kind of areas. But that is obviously going into that future which I've not obviously looked at.

What has uh that support been for this year? Already immediately we had a credit rating upgrade to tripleB and we were able to restructure and to remove $20 million of costs from September this year. This is cementing further our lowcost leadership and those two elements alone giving a 15% EPS accretion. But the most important thing and I think this is what strictly advantages us over any competitors is adn not saying we will warehouse and incubate growth projects. So during that construction phase they will incubate whilst these obviously not generating income and once you get to operation phase we will acquire them at cost into fertiglobe.

So effectively when you're in a high growth area, you may have a diminishment of dividend. Not us. Because we actually have that ability with Adnot to have our cake and eat it. We are able to deploy our dividend to have over 5% uh yields whilst also positioning ourselves for this future growth platform which will only come to our balance sheet and start generating income and therefore going directly to the dividend. So therefore as investors you get the growth potential and you get the dividend yield and we believe there's more to come as well as we develop further on this.

Our growth strategy is we basically marked out we will go uh from a capital markets day from 630 million to a billion dollars uh by 2030 through this through three particular platforms. Operational excellence to improve our business. Customer proximity. We bought Australian products so we have great access close to our markets in Australia in future. And nitrogen product expansion.

We are launching death diesel exhaust fluid in UAE which will remove NOx emissions, reduce NOx emissions in this country and therefore improve air quality. As of that announcement, we are already 38% deployed. Uh so we're looking forward to continue to go forward and deliver on these. Lastly, I'll leave you with a few key figures. Our dividends growing over 5%.

Our 9-month EBITDA is a 48% year-on-year increase over the previous year. Um, we're looking forward to how AI is deploying. Um, our AITA growth of 60% and our AIDA margin is 48% sector leading. If you were to try and build rebuild our assets now, that would be about $18 billion replacements. We're actually with our enterprise value of 7 billion, we are at a 60% discount.

As we move forward from our position of value to growth, we would love to see you join us and increase your stakes in this journey as we move towards this new energy future. Thank you very much for your time. Good morning everyone. Great to be here at the Abu Dhabi finance week. Great to see so much attention.

Fantastic. Trust that the video gave you already a bit of a good glimpse of our company. MS Steel is the UAE's largest integrated steel and building materials group listed on the Abu Dhabi stock exchange. Our scale, our presence across the full value chain, and our strong national backing make us a central pillar of the UE's industrial sector. Today, MS Steel supports the country's growth and his long-term economic ambition.

With three and a half million ton of steel capacity and 4 and a.5 million tons of cement, we are the backbone supplier to the construction and infrastructure sectors. We hold a leading market share locally and operate 16 advanced plants across the UAE. Our operations also contribute significantly to Abu Dhabi's non-oil manufacturing GDP. MSTEL consistently delivers a resilient financial performance through the global steel industry cycles supported by our strong market position and the efficient use of both both our capacities and capabilities.

Over the last 12 months, we generated more than 9 billion Abida revenue in Dam and 1.1 billion Abida. With a debt-free balance sheet and a net cash position exceeding 700 million, we are well placed to capture the next phase of growth. Our portfolio covers the full range of essential construction materials from rebar and wire rod to cement blocks and pipes. Our sections and sheet pile products are exported to many cross countries across the continents based on our superior quality and lowcarbon footprint.

All these products form the foundation of homes, industries and critical infrastructure across the country and internationally. More than half of the UAE's building contain steel materials. Many of the UAE's most iconic national projects have been built using our steel from the museum of the future to the Baraka nuclear plant, the louver Abu Dhabi and Expoent 20 and also yes the Shyay National Museum which was opened last week and was built using our steel. These references demonstrate the trusted quality and reliability of our products. MSTEL is leading the industrial decarbonization in the region with a clear and actionable pathway towards the net zero 2050.

We are already delivering pioneering projects in carbon capture, hydrogen-based steel making and process electrification. These investments ensure we remain competitive, sustainable, and aligned with the UAE's net zero pathway. In summary, MSTEL stands today as the UEE largest integrated steel and building materials company, a core contributor to the nation's industrial strength and economic growth. Looking ahead, we have shaped our growth strategy around MSTEL's core competitive advantages. Our growth today and in the future is supported by the strength of the UAE's economy, especially the continued development of the real estate sector and its expanding population.

As we continue to invest in technology, efficiency and lowcarbon innovation, our focus remains clear to reliably serve the UEE and our international customer base to enable sustainable development and build a stronger future for generations to come. Thank you for your attention.