Slide 1: ADNOC Gas Investor Presentation
ADNOC Gas ADNOC Gas INVESTOR PRESENTATION
Slide 2: Disclaimer
DISCLAIMER Q3 2024 RESULTS ADNOC Gas 2
Slide 3: Q3 2024 Key Highlights
Q3 2024 KEY HIGHLIGHTS • 11% YoY increase in Net Income supported by 25% YoY uplift in PERFORMANCE $1.24 billion • LPG prices and strong Export Traded and Liquids, LNG volumes 18% YoY increase in EBITDA to $2.20Bn with a margin of 35% Net Income, +11% YoY $1.18 billion • Free cash flow of $1.18Bn de
Slide 4: Strong YoY Price Evolution in LPG in Q3 2024
STRONG YoY PRICE EVOLUTION IN LPG IN Q3 2024 Brent Oil Butane $/bbl $/MMBtu 110 -8% 800 100 712 +24% 87 84 83 85 90 81 80 700 78 637 80 618 70 590 577 600 60 513 50 40 500 465 30 20 400 10 0 300 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Propane NAPHTHA $/ton
Slide 5: Sales Volume Up 4.5% for First Nine Months
SALES VOLUME UP 4.5% FOR FIRST NINE MONTHS Q4 24 Outlook Sales Quantity (TBTU) 0.2% 4.5% 947 949 900 912 908 890 781 621 609 575 589 573 580 507 253 257 241 266 265 273 214 55 69 48 60 74 56 70 4 3 4 6 3 6 4 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Shutdown window Domestic Gas ALNG JV Product
Slide 6: YTD Domestic Gas EBITDA Growth of 13%
YTD DOMESTIC GAS EBITDA GROWTH OF 13% YTD Domestic Gas EBITDA at $2.1Bn driven by 4% increase in sales volume and improved contract prices Sales Quantity +4% -2% MMBTU 621 1,763 609 1,703 589 580 575 573 507 +13% -0.4% EBITDA 727 753 726 $ millions 724 695 107 615 554 2,145 1,897 727 726 695 724 615
Slide 7: YTD ETL, ALNG EBITDA Up 22%
YTD ETL, ALNG EBITDA UP 22% Strong EBITDA performance driven by 7% volume growth and further supported by stronger LPG and naphtha prices +4% Sales Quantity 335 MMBTU +7% 321 322 317 322 315 972 912 269 EBITDA +22% +30% $ millions 4,136 1,445 1,404 1,333 1,358 906 3,389 296 333 1,157 265 1,123 307 6
Slide 8: 18% Increase in YTD Net Income
18% INCREASE IN YTD NET INCOME Net income improvement enabled by positive price movement and volume growth offset in part by higher profit share and taxes Net Income – 9M 2024 vs. 9M 2023 $, millions -278 845 -712 16 -27 3,621 -393 1,093 3,076 9M 23 1 Price effect Volume effect MGP Profit Sharing OP
Slide 9: Strong YTD Free Cash Flow of $3.37 Billion
STRONG YTD FREE CASH FLOW OF $3.37 BILLION Driven by robust EBITDA generation Free Cash Flow1 – 9M 2024 vs. 9M 2023 $, millions 964 -393 3,626 -575 3,369 -253 9M 2023 EBITDA Taxes CAPEX Other (incl. working capital) 1.0 9M 2024 Q3 2024 RESULTS ADNOC Gas 9 (1) FCF refers to the net cash flows generat
Slide 10: 2024 Capital Market Guidance
2024 CAPITAL MARKET GUIDANCE 2024 guidance 9M 2024 actual 2024 updated guidance Financial EBITDA Margin % 34% 35% 34-35% (in TBTU) 2024 guidance 9M 2024 actual 2024 updated guidance Domestic Gas Products 2,240 – 2,280 1,763 2,240 – 2,290 Sales volume Exports & Traded Liquids 940 – 960 772 970 - 990
Slide 11: Appendix
ADNOC Gas E. 2 APPENDIX
Slide 12: Shareholder and Free Float Update
SHAREHOLDER AND FREE FLOAT UPDATE ADNOC Gas Shareholder structure and Free Float update (%) ADNOC Gas Shareholders (%) As of 31 December 2024 90.0% As of 31 December 2024 ADNOC TAQA Shareholders No of shares Percentage (%) ADNOC Gas ESOP Free Float Abu Dhabi National Oil Company (ADNOC) 69,076,279,8