Abu Dhabi National Energy Company (TAQA) investor relations material

Executive summary

• Revenue for the six months ended 30 June 2026 was AED 27,518 million, a 2.6% decrease from AED 28,243 million year-over-year, mainly due to lower pass-through revenues and Oil & Gas decommissioning.

• Net profit attributable to equity holders rose 9.7% year-over-year to AED 4,071 million, driven by utilities growth offsetting lower Oil & Gas earnings.

• EBITDA increased 7.7% year-over-year to AED 11,000 million, supported by higher contributions from Transmission and Generation segments.

• Total comprehensive income attributable to equity holders was AED 3,669 million, down from AED 4,191 million year-over-year.

• The group completed the sale of stakes in Massar Solutions PJSC and Jubail Energy Company LLC.

Financial highlights

• Gross profit for the six months was AED 6,422 million, up from AED 6,218 million year-over-year.

• Operating expenses decreased to AED 16,453 million from AED 17,386 million year-over-year.

• Free cash flow was AED 4,600 million, down from AED 7,000 million, reflecting higher investment.

• Capital expenditure increased 38% year-over-year to AED 7,200 million.

• Cash and cash equivalents at 30 June 2026 stood at AED 8,995 million, up from AED 7,494 million at 30 June 2025.

Outlook and guidance

• Management expects to qualify for Transitional CbCR Safe Harbour relief in most jurisdictions for Pillar Two tax rules.

• No material disruption from regional geopolitical tensions as of the reporting date, but ongoing monitoring continues.

• Continued investment in power, water, and transmission infrastructure is expected.

• Strategic partnerships and international expansion in renewables and utilities to drive future growth.