Emaar Properties PJSC — Capital/Financing Update 2022

Aug 13, 2022

13 August 2022

Mr. Hamed Ahmed Ali Chief Executive Officer Dubai Financial Market Dubai – United Arab Emirates

Submitted Through Efsah System

Subject: Clarification from Emaar in respect of the benefits from the acquisition of DCH project

Dear Mr. Hamed,

In reference to the captioned subject, Emaar would like to clarify that it believes that the acquisition of Dubai Creek Harbour project (the “ Transaction ”) is aligned with its longterm strategy and helps create and sustain value for its shareholders, including:

• providing Emaar full control of the Dubai Creek Harbour development of the underlying undeveloped land, which is strategically located, and comprising of more than 100 million square feet of future developments;

• streamlining decision making process, thereby improving the overall project execution and realisation of the Dubai Creek Harbour development;

2022 أ ﻏسطس13

اﻟموﻗر اﻟس ید/ ﺤ ﺎﻤد أﺤمد ﻋﻠﻲ اﻟتنﻔیذي رﺌیس اﻟ ﺴوق دﺒﻲ اﻟمﺎﻟﻲ اﻹﻤﺎرات اﻟﻌر�یﺔ اﻟمتحدةدﺒﻲ-

ﻲﻧروﻟﻛﺗﻹاح ﻓﺻﺎم إﻧظﺎﻼل ﺧن ﻣم ﻣﻘد

ﺑﯾﺎن ﺗوﺿﯾﺣﻲ ﻣن ﺷرﻛﺔ إﻋﻣﺎر:اﻟﻣوﺿوع ﺳﺗﺣواذ ﻋﻠﻰ اﻻﻣﻧﺎﻓﻊ ﺑﺧﺻوص دﺑﻲ ﻛرﯾك ھﺎرﺑور ﻣﺷروع

،ﺗﺣﯾﺔ طﯾﺑﺔ وﺑﻌد

ﺑﺎﻹﺷﺎرة ﻟﻠﻣوﺿوع أﻋﻼه، ﺗود ﺷرﻛﺔ إﻋﻣﺎر أن اﻻﺳﺗﺣواذ ﻋﻠﻰ ﺻﻔﻘﺔ أنّ ﺗرىﺗوﺿﺢ ﺑﺄﻧﮭﺎ ﺗﺗﻣﺎﺷﻰ "( اﻟﺻﻔﻘﺔ ﻣﺷروع دﺑﻲ ﻛرﯾك ھﺎرﺑور )" ﺗﺣﻘﯾﻖ ﺗﺳﺎﻋد ﻋﻠﻰ واﻷﻣد ﻣﻊ اﺳﺗراﺗﯾﺟﯾﺗﮭﺎ طوﯾﻠﺔ اﻟﻘﯾﻣﺔ واﻟﺣﻔﺎظ ﻋﻠﯾﮭﺎ ﻟﻣﺳﺎھﻣﯾﮭﺎ، ﺑﻣﺎ ﻓﻲ ذﻟك:

ﻋﻠﻰ إﻋﻣﺎر ﻟﺷرﻛﺔ ﺗوﻓﯾر ﺳﯾطرة ﻛﺎﻣﻠﺔ • ﻓﯾﻣﺎ ﻣﺷروع دﺑﻲ ﻛرﯾك ھﺎرﺑور اﻟﺗطوﯾري اﻟﺗﻲ و رة ﻏﯾر اﻟﻣطوّ اﻷﺳﺎﺳﯾﺔ ﻷرض ﯾﺗﻌﻠﻖ ﺑﺎ أﻛﺛر ﻣن ﺿمﻣوﻗﻊ اﺳﺗراﺗﯾﺟﻲ، وﺗﻊ ﺑﺗﺗﻣﺗ اﻟﻣﺷﺎرﯾﻊ ﻣن ﺔ ﻌ ّﻣﻠﯾون ﻗدم ﻣرﺑ 100 اﻟﻣﺳﺗﻘﺑﻠﯾﺔ؛ اﻟﺗطوﯾرﯾﺔ

وﺑﺎﻟﺗﺎﻟﻲ ، ات اﻟﻘرار اﺗﺧﺎذ ﺗﺑﺳﯾط ﻋﻣﻠﯾﺔ • وﺗﺣﻘﯾﻖ اﻟﺷﺎﻣل ﻟﻠﻣﺷروع اﻟﺗﻧﻔﯾذ ﺗﺣﺳﯾن ؛ دﺑﻲ ﻛرﯾك ھﺎرﺑور اﻟﺗطوﯾري ﻣﺷروع

• enhancing Emaar’s returns by accessing 100 per cent of the profits to be generated from the Dubai Creek Harbour development over its development lifetime; and

• reducing pressure on Emaar’s cash flows using a combination of an issue of shares and cash for consideration.

The Transaction, if effected, enhances Emaar’s position as one of the leading companies in the UAE, with the consolidated Emaar Group having a diversified portfolio of assets with an approximate combined total net asset value of over AED 71.5 billion as of 30 June 2022.

Emaar recorded sales in Dubai Creek Harbour of AED 4.2 billion in 2021 and AED 3.6 billion in the first half of 2022. This clearly reflects the significant demand for properties at Dubai Creek Harbour and future profit potential of the development, which is the primary consideration for Emaar in respect of the acquisition.

The equity of Dubai Creek Harbour LLC was valued by an independent valuer to be ranging from AED 14.6 billion to AED 15.7 billion.

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Yours sincerely,
_____
Ahmad Thani Al Matrooshi
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CC: Securities and Commodities Authority

ﺗﻌزﯾز ﻋﺎﺋدات إﻋﻣﺎر ﻣن ﺧﻼل اﻟوﺻول إﻟﻰ • ﺗﺣﻘﯾﻘﮭﺎ ﻣن اﻷرﺑﺎح اﻟﺗﻲ ﺳﯾﺗم٪ 100 ﻧﺳﺑﺔ دﺑﻲ ﻛرﯾك ھﺎرﺑور اﻟﺗطوﯾري ﻣﺷروعﻣن ﻋﻠﻰ ﻣدار ﻓﺗرة ﺗطوﯾره؛ و

ﺗﻘﻠﯾل اﻟﺿﻐط ﻋﻠﻰ اﻟﺗدﻓﻘﺎت اﻟﻧﻘدﯾﺔ ﻟﺷرﻛﺔ • ﻣزﯾﺞ ﻣن ﻣﻘﺎﺑل ﻣؤﻟف ﻣن إﻋﻣﺎر ﺑﺎﺳﺗﺧدام إﺻدار اﻷﺳﮭم واﻟﻧﻘد.

ﻓﻲ ﺣﺎﻟﺔ ﺗﻧﻔﯾذھﺎ، ﻣﻛﺎﻧﺔ ﺳﺗﻌزّز، اﻟﺻﻔﻘﺔ، ّإن دوﻟﺔ اﻟراﺋدة ﻓﻲ اﻟﺷرﻛﺎت ﺈﺣدى إﻋﻣﺎر ﻛ ﺳ ﺗﻣﺗﻠك ﻣﺟﻣوﻋﺔ اﻹﻣﺎرات اﻟﻌرﺑﯾﺔ اﻟﻣﺗﺣدة، ﺣﯾث اﻟﺗﻲ ﻋﺔ ﻣن اﻷﺻول ﻣﺗﻧوّ ﺣﻔظﺔدة ﻣ إﻋﻣﺎر اﻟﻣوﺣّ ﻌﺔ اﻟﺻﺎﻓﯾﺔ اﻹﺟﻣﺎﻟﯾﺔ اﻟﺗﻘرﯾﺑﯾﺔ اﻟﻣﺟﻣّ ﺗﮭﺎ ﻗﯾﻣ ﺳﺗﺑﻠﻎ درھم إﻣﺎراﺗﻲ اﻋﺗﺑﺎرا ﻣﻠﯾﺎر ﻋﻠﻰ 71.5ﻣﺎ ﯾزﯾد . ﯾوﻧﯾو2022 ﻣن30

وﻗد ﺳﺟﻠت إﻋﻣﺎر ﺣﺟم ﻣﺑﯾﻌﺎت ﻣن ﻣﺷروع دﺑﻲ ﺑﺈﺟﻣﺎﻟﻲ4.2 ﻋﺎم 2021ﻛرﯾك ھﺎرﺑور ﻓﻲ ﻣﻠﯾﺎر درھم ﻓﻲ اﻟﻧﺻف 3.6ﻣﻘﺎﺑل ﻣﻠﯾﺎر درھم ﯾﻌﻛس اﻟطﻠب ، ﻣﻣﺎﻣن ﻋﺎم 2022ﻓﻘط اﻷول ﻋﻠﻰ ﺷراء اﻟﻌﻘﺎرات ﻓﻲ ﻣﺷروع دﺑﻲ اﻟﻛﺑﯾر ﻓﻲ اﻟﻣﺣﺗﻣﻠﺔ اﻟرﺑﺢ وإﻣﻛﺎﻧﺎت ھﺎرﺑور ﻛرﯾك ﻋﺗﺑﺎر اﻻ اﻟﺗﻲ ﺗﺷﻛل اﻟﻣﺷروع، وھذا ﻣن اﻟﻣﺳﺗﻘﺑل اﻻﺳﺗﺣواذ. ﺻﻔﻘﺔ ﺟراء ﻣن اﻷﺳﺎﺳﻲ ﻹﻋﻣﺎر

وﻟﻘد ﺗم ﺗﻘﯾﯾم دﺑﻲ ﻛرﯾك ھﺎرﺑور ش.ذ.م.م. ﻣن ﻣﻠﯾﺎر ﻗﺑل ﻣﻘﯾم ﻣﺳﺗﻘل ﺑﻘﯾﻣﺔ ﺗﺗراوح ﻣﺎ ﺑﯾن 14.6 . ﻣﻠﯾﺎر درھمدرھم و 15.7 ،،،وﺗﻔﺿﻠوا ﺑﻘﺑول ﻓﺎﺋﻖ اﻟﺷﻛر واﻻﺣﺗرام ___ أﺣﻤﺪ ﺛﺎﻧﻲ راﺷﺪ اﻟﻤﻄﺮوﺷﻲ

ﻧﺳﺧﺔ إﻟﻰ ھﯾﺋﺔ اﻷوراق اﻟﻣﺎﻟﯾﺔ واﻟﺳﻠﻊ