National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company (Tabreed) — Merger or Acquisition (June 2025)
12 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s merger presentation, Jun 30, 2025
Slide 1: Acquisition of PAL Cooling
National Central Cooling Company Acquisition of PAL Cooling 30 June 2025
Slide 2: Transaction Overview
01 Transaction Overview VJ
Slide 3: A transformational transaction for Tabreed
A transformational transaction for Tabreed • Tabreed acquires 50% of PAL Cooling Holding (“PAL”), a leading district cooling company in Abu Dhabi, strengthening our position as a national champion in the UAE district cooling sector Overview • Acquisition as part of a consortium with CVC DIF, leading
Slide 4: Transaction Structure Highlights
Transaction Structure Highlights 50% 50% ✓ Equity contribution of AED1.2bn ✓ Funded by Tabreed’s balance sheet through combination of debt and internal cash reserves ✓ Investment Grade credit rating expected to be maintained ✓ Tabreed has a flexibility to fully consolidate assets on CVC DIF’s exit ✓
Slide 5: Strategic Rationale
Strategic Rationale • Increases Tabreed’s scale with pro-forma connected capacity1 of 1.51 m RT (+14%) • Consolidates our leadership position in Abu Dhabi Increased Scale & Diversification • In-line with our ambitions of targeting strategic, prime locations with high growth and densification potenti
Slide 6: PAL acquisition provides significant uplift to our secured future capacity
PAL acquisition provides significant uplift to our secured future capacity +1.7x +14% 0.42 2.56 0.25 0.39 million RT 0.18 1.51 1.32 Tabreed PAL Proforma Tabreed Palm PAL Site Tabreed Concessions Jebel Ali Concessions Capacity Current Future Tabreed and PAL Current Capacity as of 31 December 2024; Ta
Slide 7: PAL Cooling Overview
02 PAL Cooling Overview VW
Slide 8: PAL Cooling Overview
PAL Cooling Overview Business & Financial Highlights Concessions Overview • PAL operates 8 long-term concessions in Abu Dhabi serviced by 5 operational plants with current connected capacity of 182k RT. Additional plant under construction Location Abu Dhabi Main Island Al Reem Island and 3 in planni
Slide 9: High revenue visibility from long-term contracts with blue-chip clients
High revenue visibility from long-term contracts with blue-chip clients Overview of Clients /Concession Granter Others Others Public Public 43% 25% 32% 9% 39% 33% 19% 100% Client / Master Developer Concessions Saraya Shams ADNEC Danat Tamouh Najmat Tamouh S4 Makers District Secured Long Tenor Contra
Slide 10: Deep Dive on Al Reem Island
Deep Dive on Al Reem Island PAL + Tabreed’s Selected Concessions Key Growth Drivers for Al Reem Island • A prime development location, enhanced by government investments in key Strong Government Support infrastructure projects Al Maryah • Now fully part of ADGM jurisdiction, entire island is now a f
Slide 11: A transformative transaction for Tabreed
A transformative transaction for Tabreed Increased Scale & Diversification Enhanced Growth Pipeline Synergy Potential De-risked Transaction Structure 11 |
Slide 12: Contact Us
Contact Us Tabreed Investor Relations Salik Malik Yugesh Suneja Email: ir@tabreed.ae Vice President, Finance Head of Investor Relations For more information, please visit Tel: +971 2 202 0397 Tel: +971 2 202 0479 www.tabreed.ae/investor-relations Email: smalik@tabreed.ae Email: ysuneja@tabreed.ae
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