Slide 1: Investor Presentation
INVESTOR PRESENTATION 1
Slide 2: Why are we here today? Charting our course for Growth
Why are we here today? “Charting our course for Growth” Multiply Group – 2024 update Purpose Gain insights from Multiply Group management team Key themes Growth (organic & inorganic), Financial Health, Value Creation INVESTOR PRESENTATION 01
Slide 3: Meet Today's Speakers / What will we cover?
Meet Today’s Speakers Hosted by: Samia Bouazza Jose Maria Dot Mezier Briefkani Sahar Srour Group CEO, Managing Chief Investment Officer Transformation & Growth Senior Investor Relations Manager Director & Board Member Director What will we cover? Multiply at Financial 2024 Investment 2024 Growth a G
Slide 4: Samia Bouazza
Samia Bouazza Group CEO, Managing Director & Board Member
Slide 5: Multiply at a Glance
Multiply at a Glance INVESTOR PRESENTATION 04
Slide 6: Our Growth Story
Our Growth Story Revenue Adjusted EBITDA* AED 1.3bn ~3.5x in 2 years2 ~7.6x AED in 2 years2 1.6bn 2021 2023 2021 2023 Total Assets Market Cap3 > AED > AED 38bn 25bn *Adjusted EBITDA = Group Net profit + net finance cost + Depreciation & Amortization - Fair Value gains / losses of investments 2 Base
Slide 7: Who we are today
Who we are today Growing Portfolio 5 8 Subsidiaries countries 4 sectors 15.8 (Low Risk) ESG Risk Rating1 Rated by Sustainalytics; ranked #76 of 873 companies in the diversified financials industry 1 INVESTOR PRESENTATION 06
Slide 8: Established platform for further scaling
Established platform for further scaling Number of vehicles: ~400 Number of students: >120,000 in 2023 Total renewable installed capacity: 1.5GW (all solar) | +490MW by end of 2025 (wind and solar) District cooling plants: 6 | Connected Capacity: 165k RT Total number of assets: 1,200+ (excluding tra
Slide 9: Our Growth Strategy
Our Growth Strategy Vertical Building Minority Investments Consolidate steady and predictable cash flow businesses MULTIPLY MULTIPLY+ Target high-potential, financially outstanding in select verticals, that are at the investments across a wide cusp of digital acceleration, yet A AED 38bn* Investment
Slide 10: Today's diversified portfolio
Today’s diversified porfolio MULTIPLY MULTIPLY + Sector-agnostic minority investments with outstanding potential 100% 100% 48% 51% 7.3% 2% 60% 80% 49.38% 1.2% 4.7% IEH 100% 7.3% 50% 3.2% Legend: bolt-on INVESTOR PRESENTATION 09
Slide 11: Financial Performance
Financial Performance 10
Slide 12: Q1'24 Financial Dashboard – Strong start of the year
Q1’24 Financial Dashboard – Strong start of the year Key financial metrics AED 391 mn 482 mn AED Adjusted AED 393 mn AED 483 mn AED 1.6 bn +45% YoY Operating Cash Adjusted +26% YoY Net Profit1 +48% YoY +69% YoY Revenue GPM 51.1% Cash Flow balance EBITDA1 8 bn 33.8% ~4.8% AED Net Debt/ AED 13 bn Net
Slide 13: Beyond the headlines: Adjusted vs Reported Earnings fact check
Beyond the headlines: Adjusted vs Reported Earnings fact check AED MN Adjusted Group Net Profit1 IFRS Group Net Profit we are required to report Q1’22 88 335 Q2’22 107 127 Q3’22 76 9,287 Q4’22 197 8,814 Full year 2022 468 18,563 Q1’23 266 1 Q2’23 215 400 Q3’23 331 146 Q4’23 302 6 Full year 2023 1,11
Slide 14: 2024 Priorities
2024 Priorities A rioritie Ny
Slide 15: 2024 Priorities: Key Priorities
2024 Priorities Prepare to List the Media vertical (global expansion, tap into new offerings, consolidate assets, diversify offering) Inorganic Growth (up to AED 5bn firepower 2 Efficiencies (synergies, cross-selling, ready to deploy in new operational efficiency, acquisitions across new cost optimi
Slide 16: Jose Maria Dot
Jose Maria Dot Chief Investment Officer INVESTOR PRESENTATION 15
Slide 17: Investment Strategy
Investment Strategy 16
Slide 18: Our Vertical Building Investment Strategy
Our Vertical Building Investment Strategy Up to AED 5bn to deploy into our Vertical Building Investment strategy Buy-outs of leading strong cash generating businesses in proven solid industries Objective Generate value through EBITDA consolidation, dividend generation, value appreciation and synergi
Slide 19: A disciplined approach to sector selection
A disciplined approach to sector selection Sectors where Multiply can become Strategic sectors with healthy market size the regional leading investor growth Sectors with high capital efficiency Sectors where Emerging Markets (profitability, CAPEX requirements, are making a difference cash generation
Slide 20: Our Multiply+ Investment Strategy
Our Multiply+ Investment Strategy Objective Sector-agnostic minority investments with outstanding financial returns Asset Classes Public Companies Private Companies Fundamentally strong listed companies available at Private businesses with a strong dividend profile and a clear Rationale an attractiv
Slide 21: Media Vertical Potential Listing
Media Vertical Potential Listing
Slide 22: Preparing the Media & Communications Vertical for a public listing
Preparing the Media & Communications Vertical for a public listing Consolidation Growth history Multiply Acquisition Acquisition of 100% in Investments Acquisition Acquisition Marketing of 35% in of 15% in Viola in Firefly of 60% in of 100% in Consolidation of leading Consultancy Viola Viola Media24
Slide 23: Mezier Briefkani
Mezier Briefkani Transformation & Growth Director INVESTOR PRESENTATION 22
Slide 24: 2024 Growth Drivers
2024 Growth Drivers
Slide 25: 2024 Growth Drivers
2024 Growth Drivers growth Projected double digit 2024 2023 Key growth drivers Strong vertical fundamentals Efficiencies and Synergies Mobility Energy & Utilities Media & Comms Beauty & Wellness Up to AED 45mn (run rate)* y Global mobility solutions is y Global district cooling market y Global ad ma
Slide 26: Closing Remarks
Closing Remarks INVESTOR PRESENTATION 25
Slide 27: Value Creation Model at the Holding Level
Value Creation Model at the Holding Level f Access to high-profile deals 1 Supportive ecosystem brings in multiple synergies f Financial flexibility on a wide network of lending banks f Attracting high-caliber talent f Attractive sectors disrupted by favourable megatrends 2 Clear framework to identi
Slide 28: Q&A
Q&A
Slide 29: Appendix
Appendix
Slide 30: Snapshot per Vertical
Snapshot per Vertical
Slide 31: Mobility
Mobility Multiply Group Industry f Mobility education f Maintenance and f The global mobility solutions market size is estimated servicing Plays f Car sales and leasing Facts at $1.2Tn in 2022 and is expected to grow at a 5% f Mobility-as-a-service f Insurance and financing CAGR and mobility subscri
Slide 32: Energy & Utilities
Energy & Utilities Multiply Group Industry District cooling: f Renewable energy f Global district cooling market is set to grow at 8% CAGR Plays f District cooling (+ heating) Facts f UAE has ~4M of RT, and is expected to grow at a CAGR of 10% f Energy services f Continued growth of UAE population a
Slide 33: Media & Communication
Media & Communication Multiply Group Industry f Global ad market in 2023 is ~$650b and is expected to f D/OOH Media Portfolio grow at a CAGR of 5% Plays f Digital advertising Facts f Integrated service offering f The Middle East Ad market is ~$7b in 2024 and is expected to be the fastest expanding
Slide 34: Wellness & Beauty
Wellness & Beauty Multiply Group Industry f Beauty Services f Mental health f Global beauty market is ~$750b and expected to grow f Physical Fitness by 4% Plays f Beauty Products Facts f The UAE beauty market is ~$3b and expected to grow f Corporate wellness services by 6% f The UAE is one of the
Slide 35: Multiply+ Snapshot
Multiply+ Snapshot Selected strategic investments under M+ Company Industry Footprint Description Investment Rationale One of largest listed integrated utility companies in EMEA with Global AED 10 bn Attractive valuation & Taqa Energy & Utilities (7.3% holding) presence and ambitious growth plans di
Slide 36: Capability and know-how
Capability and know-how 35
Slide 37: Experienced Board of Directors
Experienced Board of Directors ANDRÉ SAYEGH H.E. HAMAD H. E. MANSOOR RICK GERSON SAMIA BOUAZZA KHALFAN ALI AL MANSOORI MATAR AL-SHAMSI Chairman of the Board Board Member Board Member Board Member CEO & Board Member Notable Roles Former CEO First Abu Vice Chairman Ghitha Member of the Abu Co-founder
Slide 38: An experienced management team
An experienced management team… Samia Bouazza Jose Maria Dot Naveed Khan Group CEO, Managing Chief Investment Group Finance Director & Board Member Officer Director Years of >20 years 20 years 15 years experience Notable experience Mehdi Bizri Omar Fayed Lama Al Bachir Mezier Briefkani Kaiser Geelan
Slide 39: Supported by vertical leads with deep insights
…supported by vertical leads with deep insights Jawad Hassan Media and Communitation Head of Media Years of 25 years experience Areas of | Crafting strategic marketing plans expertise | Evaluating acquisitions for scaling growth | Building media ecosystems Mobility Ammar Sharaf Smitta Ozha James Bic
Slide 40: Supported by vertical leads with deep insights
…supported by vertical leads with deep insights Media and Khalid Bin Aamer Communitation Alshemeili Dr. Murtaza Ata Muhammad Zafar CEO of Emirates CEO of Kalyon Enerji CEO of PAL Cooling Driving Company Holding Years of 23 years >30 years 25 years experience Areas of | Setting long-term business | F
Slide 41: ESG Highlights
ESG Highlights 40
Slide 42: Sustainability framework
Sustainability framework Pillar 1: Robust Foundations Pillar 2: Growing our Human Capital Objectives Objectives f Enhance governance structure for a sustainable performance f Position Multiply as an employer of choice, emphasising while integrating ESG into organisational risk management workplace d
Slide 43: Disclaimer
Multiply is not under any obligation to update, complete, amend, revise or keep current the information contained herein, and any opinions expressed herein are subject to change materially without notice. Accordingly, no representation or warranty, express or implied, is or will be made by Multiply,
Slide 44: IR Contact Details
IR Contact Details Contact Multiply Investor Relations for any enquiries Sahar Srour, CFA +971 54 513 9204 sahar@multiply.ae