MDGH GMTN RSC Ltd NOTES 3.4% JUN 2051 — Capital/Financing Update 2021

Jun 29, 2021

	Pricing Term Sheet 27 May 2021	Pricing Term Sheet 27 May 2021			قائمة أحكام التسعير 27 مايو 2021
	MDGH GMTN (RSC) Ltd		إم دي جي اتش- جي إم تي إن (أر اس سي) لميتد
	USD 500,000,000 2.500 Per cent. Notes due 2031; USD 1,000,000,000 3.400 Per cent. Notes due 2051; (the "Notes")		سندات بقيمة 500,000,000 دولر أمريكي ،بفائدة ثابتة 2.500 %تستحق عام 2031 سندات بقيمة 1,000,000,000 دولر أمريكي ،بفائدة ثابتة 3.400 %تستحق عام 2051
	Issuer	MDGH GMTN (RSC) Ltd	إم دي جي اتش- جي إم تي إن (أر اس سي) لميتد	المصدر
	Guarantor	Mamoura Diversified Global Holding PJSC	المعمورة دايفيرسيفايد جلوبال هولدنغ ش م ع	الضامن
	Guarantor Rating	Aa2 by Moody’s / AA by Standard & Poor’s / AA by Fitch (all with a Stable outlook)	Aa2 / من قبل موديزAA من قبل ستاندرد أند / بورزAA من قبل فيتش )(جميعها مع توقعات مستقرة	تصنيف الضامن
	Expected Issue Rating	Aa2 (Moody's) / AA (Fitch)	Aa2 / من قبل موديزAA من قبل فيتش	تصنيف الصدار
	Type	Senior Unsecured Notes	متقدمةلولوية ، غير مضمون	نوع السندات
	Market	Regulation S	Regulation S	شكل الصدار
	Currency	U.S, Dollars (US$)	دولر أميركي	العملة
	Issue Size	10 years: USD 500 million 30 years: USD 1,000 million	10 سنوات: 500 مليون دولر أمريكي 30 سن :ة1,000 مليون دولر أمريكي	حجم الصدار
	Denominations	USD 200,000 and integral multiples of US$ 1,000 in excess thereof	200,000دولر أمريكي ومضاعفات1,000 دولر أمريكي	الفئات المحددة
	Tenor	10 years 30 years	10 سنوات 30 ة سن	المدة
	Issue Date	10 years: 03 June 2021 30 years: 07 June 2021	10 سنوات: 3 يونيو2021 30 سنة7 :يونيو 2021	تاريخ الصدار
	Maturity Date	10 years: 03 June 2031 30 years: 07 June 2051	10 سنوات: 3 يونيو2031 30 سنة7 :يونيو 2051	تاريخلستحقاق
	Interest Payment Dates	10 years: 03 June and 03 December in arrear, commencing on 03 December 2021	10 سنوات: 3 يونيو و3 ديسمبر من كل عام ابتداء من3 ديسمير2021 30 ة سن7 : يونيو و7 ديسمبر من كل عام ابتداء من7 ديسمير2021	دفعات الفائدة ) (مواعيد التوزيع

	30 years: 07 June and 07 December in arrear, commencing on 07 December 2021
Mid-swap Rate	10 years: 1.582 per cent. 30 years: 2.012 per cent.	10 سنوات: %1.582 30 سنة: %2.012	معدل متوسط مقايضات الدولر المريكي
Re-offer Spread over Mid-swap	10 years: 95 basis points 30 years: 138.8 basis points	10 سنوات95 : نقطة أساس 30 ة سن: 138.8 نقطة أساس	هامش الفائدة فوق متوسط مقايضات الدولر المريكي
Re-offer Yield	10 years: 2.532 per cent. 30 years: 3.400 per cent.	10 سنوات : %2.532 30 ة سن: %3.400	ريع الصدار
Benchmark	10 years: UST 1 ⅝ due May 2031 30 years: UST 1 ⅞ due February 2051	10 سنوات :معدل الخزينة المريكية 1 ⅝ تستحق في مايو عام2031 30 ة سن :معدل الخزينة المريكية 1 ⅞ تستحق في فبراير عام2051	المؤشر/المرجع
Benchmark Yield	10 years: 1.622 per cent. 30 years: 2.318 per cent.	10 سنوات : %1.622 30 ة سن : %2.318	العائد المرجعي
Re-offer Spread over Benchmark	10 years: 91 basis points 30 years: 108.2 basis points	10 سنوات : 91 نقطة أساس 30 ة سن : 108.2 نقطة أساس	هامش الفائدة فوق المرجع
Interest Rate	10 years: 2.500 per cent. Per annum 30 years: 3.400 per cent.	10 سنوات : %2.500 سنويا 30 :سنة%3.400سنويا	دفعات الرباح
Issue Price	10 years: 99.719 per cent. 30 years: 100 per cent.	10 سنوات : %99.719 30 :سنة%100	سعر الصدار
Day Count Fraction	30/360 Fixed	30/360ثابت	عدد اليام في احتساب الربح
Listing	London Stock Exchange, Taipei Exchange(30 years) and Abu Dhabi Securities Exchange	بورصة لندنوبورصة تايبيه 30) سنة(و سوق أبوظبي للوراق المالية	الدراج
Law	English law	القانونلنكليزي	القانون
Clearing	Euroclear and Clearstream Luxembourg	ايروكلير و كلييرستريم, لوكسيمبرغ	المقاصة
Form of the Notes	Registered Global Notes	مسجلة عالميا	شكل السندات
Bookrunners	10 year: Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc and Standard Chartered Bank	10 سنوات :بنك ،أبوظبي التجاري ش.م.ع ،مجموعة سيتي المصرفية وبنك أبوظبي الول ش.م.ع، و جي بي مورغان، و مورغان ستانلي انترناشونال، و بنك ستاندرد تشارترد	مدراءلكتتاب الرئيسيين المشاركين

	30 year: Citibank Taiwan Limited, Morgan Stanley Taiwan Limited, Standard Chartered Bank (Taiwan) Limited	30 ة سن : سيتي بنك تايوان لميتد، و مورغان ستانلي تايوان لميتد ، و بنك ستاندرد تشارترد )تايوان( لميتد
Structuring Agents	30 year: Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc and Standard Chartered Bank	30 ة سن : بنك ،أبوظبي التجاري ش.م.ع مجموعة ،سيتي المصرفية وبنك أبوظبي الول ش.م .ع، و جي بي مورغان، و مورغان ستانلي انترناشونال ، و بنك ستاندرد تشارترد	وكلء الهيكلة
Issuer LEI	213800WRY6FRL9IXLT77	213800WRY6FRL9IXLT77	معرف الكيان القانوني لل مصدر
ISIN	10 years: XS2348658035 30 years: XS2324826994	10 سنوات : XS2348658035 30 ة سن : XS2324826994	رمز الصدار
Common Code	10 years: 234865803 30 years: 232482699	10 سنوات : 234865803 30 :سنة232482699	الرمز المشترك
Stabilisation	ICMA / FCA	ICMA / FCA	مستوىلستقرار

Before you invest, you should read the Base Prospectus dated 3 March 2021 as supplemented by the Supplement thereto dated 24 May 2021 (together, the Prospectus) for more complete information about the Issuer, the Guarantor and this offering. Any dealer participating in the offering will arrange to send you the Prospectus if you request it.

This pricing term sheet is qualified in its entirety by reference to the Prospectus prepared in respect of the above issue. The information in this pricing term sheet supplements the Prospectus and supersedes the information therein to the extent that there are any inconsistencies. Before you invest in the Notes, you should read the Prospectus for more information concerning the Issuer, the Guarantor and the Notes. Terms not otherwise defined herein shall have the meanings ascribed to them in the Prospectus.

This document does not constitute or form a part of any offer or solicitation to purchase or subscribe for the Notes in the United States or any other jurisdiction. Neither the Notes nor the Guarantee have been nor will be registered under the U.S. Securities Act of 1933 (the Securities Act) and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act (Regulation S)) except in certain transactions exempt from, or not subject to the registration requirements of the Securities Act. The Notes are being offered and sold outside the United States to non-U.S. persons in reliance on Regulation S. No public offering of the Notes will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited. For a description of these and certain further restrictions on offers, sales and transfers of the Notes and the distribution of the Prospectus and this pricing term sheet, see "Subscription and Sale and Transfer and Selling Restrictions" in the Prospectus.

The distribution of this pricing term sheet and the offering in certain jurisdictions may be restricted by law and therefore persons into whose possession this pricing term sheet comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions could result in a violation of the laws of such

jurisdiction. In particular, this pricing term sheet is not for distribution in or into the United States, Australia, Canada or Japan.

This release is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as relevant persons). The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this pricing term sheet or any of its contents.

Advertisement: This pricing term sheet is an advertisement and is not a prospectus for the purposes of Regulation (EU) No 1129/2017 of the European Parliament and of the Council of 14 June 2017 (as amended) as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (EUWA). The Base Prospectus is available, and the applicable Final Terms, when published, will be available on the website of the London Stock Exchange (http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html).

UK MiFIR professionals/ECPs-only – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).

In connection with Section 309B of the Securities and Futures Act (Chapter 289) of Singapore (the SFA) and the Securities and Futures (Capital Markets Products) Regulations 2018 (the CMP Regulations 2018), the Issuer has determined and hereby notifies all relevant persons (as defined in section 309A(1) of the SFA) that the securities to which this announcement relates are classified as prescribed capital markets products (as defined in the CMP Regulations 2018) and Excluded Investment Products (as defined in the Singapore Monetary Authority (the MAS) Notice SFA 04-N12: Notice on the Sale of Investment Products and the MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

Stabilisation: ICMA/Financial Conduct Authority.

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

REPUBLIC OF CHINA (ROC) TAXATION

The following summary of certain taxation provisions under ROC law is based on current law and practice and that the Notes will be issued, offered, sold and re-sold, directly or indirectly, to professional institutional investors as defined under Paragraph 2 of Article 4 of the Financial Consumer Protection Act of the ROC only. It does not purport to be comprehensive and does not constitute legal or tax advice. Investors (particularly those subject to special tax rules, such as banks, dealers, insurance companies and tax-exempt entities) should consult with their own tax advisers regarding the tax consequences of an investment in the Notes. Investors should appreciate that, as a result of changing law or practice, the tax consequences may be otherwise than as stated below.

Interest on the Notes

As the Issuer of the Notes is not an ROC statutory tax withholder, there is no ROC withholding tax on any interest or deemed interest to be paid by the Issuer on the Notes.

ROC corporate holders must include any interest or deemed interest receivable under the Notes as part of their taxable income and pay income tax at a flat rate of 20 per cent. (unless the total taxable income for a fiscal year is $120,000 New Taiwan Dollars or under), as they are subject to income tax on their worldwide income on an accrual basis. The alternative minimum tax (AMT) is not applicable.

Sale of the Notes

In general, the sale of corporate bonds or financial bonds is subject to 0.1 per cent. securities transaction tax ("STT") on the transaction price. However, Article 2-1 of the Securities Transaction Tax Act prescribes that STT will cease to be levied on the sale of corporate bonds and financial bonds from 1 January 2010 to 31 December 2026. Therefore, the sale of the Notes will be exempt from STT if the sale is conducted on or before 31 December 2026. Starting from 1 January 2027, any sale of the Notes will be subject to STT at 0.1 per cent. of the transaction price, unless otherwise provided by the tax laws that may be in force at that time.

Capital gains generated from the sale of bonds are exempt from ROC income tax. Accordingly, ROC corporate holders are not subject to ROC income tax on any capital gains generated from the sale of the Notes. However, ROC corporate holders should include the capital gains in calculating their basic income for the purpose of calculating their AMT. If the amount of the AMT exceeds the annual income tax calculated pursuant to the ROC Income Basic Tax Act (also known as the AMT Act), the excess becomes the ROC corporate holders' AMT payable. Capital losses, if any, incurred from the sale of the Notes by such holders could be carried over 5 years to offset against capital gains of same category for the purposes of calculating their AMT.

Non-ROC corporate holders with a fixed place of business (e.g., a branch) or a business agent in the ROC are not subject to income tax on any capital gains generated from the sale of the Notes. However, their fixed place of business or business agent should include any such capital gains in calculating their basic income for the purpose of calculating AMT.

As to non-ROC corporate holders without a fixed place of business and a business agent in the ROC, they are not subject to ROC income tax or AMT on any capital gains generated from the sale of the Notes.

ROC SETTLEMENT AND TRADING

Investors with a securities book-entry account with an ROC securities broker and a foreign currency deposit account with an ROC bank, may request the approval of the Taiwan Depositary & Clearing Corporation (TDCC) for the settlement of the Notes through the account of TDCC with Euroclear Bank SA/NV (Euroclear) or Clearstream Banking S.A. (Clearstream, Luxembourg) and if such approval is granted by TDCC, the Notes may be so cleared and settled. In such circumstances, TDCC will allocate the respective book-entry interest of such investor in the Notes to the securities book-entry account designated by such investor in the ROC. The Notes will be traded and settled pursuant to the applicable rules and operating procedures of TDCC and the TPEx as domestic bonds.

In addition, an investor may apply to TDCC (by filing in a prescribed form) to transfer the Notes in its own account with Euroclear or Clearstream, Luxembourg to the TDCC account with Euroclear or Clearstream, Luxembourg for trading in the domestic market or vice versa for trading in overseas markets.

For such investors who hold their interest in the Notes through an account opened and held by TDCC with Euroclear or Clearstream, Luxembourg, distributions of principal and/or interest for the Notes to such holders may be made by payment services banks whose systems are connected to TDCC to the foreign currency deposit accounts of the holders. Such payment is expected to be made on the second Taiwanese business day following TDCC's receipt of such

payment (due to time difference, the payment is expected to be received by TDCC one Taiwanese business day after the distribution date). However, when the holders actually receive such distributions may vary depending upon the daily operations of the ROC banks with which the holder has the foreign currency deposit account.

ROC SELLING RESTRICTION

The Notes have not been, and shall not be, offered sold, or re-sold, directly or indirectly, to investors other than “professional institutional investors” as defined under Paragraph 2 of Article 4 of the Financial Consumer Protection Act of the ROC which currently include: (i) overseas or domestic banks, securities firms, futures firms and insurance companies (excluding insurance agencies, insurance brokers and insurance surveyors), the foregoing as further defined in more detail in Paragraph 3 of Article 2 of the Organization Act of the Financial Supervisory Commission of the ROC, (ii) overseas or domestic fund management companies, government investment institutions, government funds, pension funds, mutual funds, unit trusts, and funds managed by financial service enterprises pursuant to the Securities Investment Trust and Consulting Act of the ROC, the Future Trading Act of the ROC or the Trust Enterprise Act of the ROC or investment assets mandated and delivered by or transferred for trust by financial consumers, and (iii) other institutions recognized by the Financial Supervisory Commission of the ROC. Purchasers of the Notes are not permitted to sell or otherwise dispose of the Notes except by transfer to the aforementioned professional institutional investors.