FY 2024 Results

February 2025
Corporate presentation

1. Dubai – The Real Estate Market and Macro Economic Overview

Dubai : A vibrant, multicultural and growing city Page 1

Global buyer interest for Dubai Page 2

2. DAMAC overview

DAMAC overview – business model, the DAMAC distinction, value enhancing product extensions Page 3 - 6

Portfolio overview Page 7 - 13

3. Rating developments

DAMAC rating developments Page 14

4. Financial highlights, operating environment, and latest key financials

Financial highlights Page 15-17

Debt profile Page 18

Latest financial statements Page 19

Senior Management Team, Board of Directors, and Committees Page 20 - 21

ESG Page 22

Abbreviations Page 23
Disclaimer statement: Damac Real Estate Development Ltd. (DAMAC)
1. Dubai – The Real Estate Market
and Macro Economic Overview
Dubai : A Vibrant, multicultural and growing city
Dubai sees increase in overnight visitors, welcoming 18.7mn in FY 20241,2 Number of hotel keys and service apartments1,3, thousands

18.7 26 26
26
16.7 17.2 25
15.8 15.9 25 26
14.9 14.4
14.2 25
13.2 25
25
26
11.0 23
10.0 23 23

7.3
5.5

57 62 67 72 78 83 91 101 101 113 121 124 126

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 9M 2024
Hotel Keys Service Apartments

Diversified Visitors Regions 9M 20241,3 Dubai population1, mn

5% 2%
6% 19% Western Europe
South Asia
3.8
10% GCC 3.5 3.7
3.4 3.4 3.5
Eastern Europe (incl. CIS) 3.2
3.0
MENA 2.7
2.3 2.4
17% North and South-East Asia 2.2
12% 2.1
Americas
Africa

14% Australasia
15%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Sources and Notes:
1. Dubai Statistics Center - https://www.dsc.gov.ae/en-us/Pages/default.aspx;
2. Dubai’s Department of Economy and Tourism
3. The information for 9M 2024 as the data for FY 2024 is not available yet
1
Global buyer interest for Dubai
Strong performance levels continue to be seen in Dubai’s real estate market DAMAC real estate buyers4

• As of the end of December 2024, average sales prices in Dubai’s residential market increased by 18% 4%
compared to the previous year1.
• As at December 2024, average apartment and villa prices reached AED 1,647 and AED 2,024 per
square foot, respectively1.
• Average rental rates in Dubai grew by 16% compared to December 2023.1 . 5%

• In the twelve months to December 2024, approximately 174,000 residential transactions have been
registered in Dubai, representing a 39% increase compared to the same period in 20231. 10%
• Based on data from the Dubai Land Department, registered rental renewal contracts in 2024
increased by 9% year-on-year1.
40%
• Based on the 2024 results, Dubai International Airport (DXB) became the busiest international airport
in the world with a total passenger traffic volume of 60.2 million2.

20%

Attractive yields underpinning investor demand3

21%
4.9%
4.2% 4.3% 4.3%
3.9% 4.0%
3.5% 3.7%
3.4%
3.0%
Asia Pacific Europe Middle East America Africa Others

Residents vs Non-Residents4

Non-Residents,
Switzerland Singapore Austria Germany Hong Kong Denmark Belgium Norway Japan UAE Residents, 46%
54%
Source: 1. CBRE Report - https://www.cbre.ae/insights/figures/uae-real-estate-market-review-q4-2024
2. OAG - https://www.oag.com/busiest-airports-world-2024
3. Globalpropertyguide - https://www.globalpropertyguide.com/
4. DAMAC’s property buyers’ universe FY 2024 2
2. DAMAC overview
DAMAC overview

Headquarters in Dubai Portfolio overview

Major presence in Dubai and nearby regions

100+ mn sq ft
Projects in progress and in planning
Completed1 units: 48,283
Saleable area in completed projects
In-progress2, In-planning3 projects 50,166
58+ mn sq ft Notes: 1. Completed units: units in projects with Building Completion Certificate (BCC) received as at 31 December 2024
2. In-progress units: units in projects with enabling works started / consultant appointed as at 31 December 2024
High-end mixed-use community and tower developments 3. In-planning units: units in projects with no consultant appointed as at 31 December 2024

DAMAC revenue FY 2024 Strong delivery track record across economic cycle, units

AED12.1 bn (US$3.3 bn) 16,287 48,283

FY 2023: AED8.8 bn (US$2.4 bn) 14,059

10,746
7,191
DAMAC net profit FY 2024

AED3.6 bn (US$1.0 bn) Up to

2012
2013-
2016
2017-
2020
2021-
2024
Total
FY 2023: AED4.2 bn (US$1.2 bn)

3
Our business model

A BUY Sustainable land sourcing focusing on identifying prime opportunities at attractive value

B DESIGN Customer-focused product design positioning, enabling premium pricing

C SELL A comprehensive multi-faceted marketing approach

D BUILD Comprehensive in-house capabilities enables efficient project execution

A BUY B DESIGN C SELL D BUILD

Project management
Land acquisition Project development Marketing / Communications
Credit
Sales/Admin CRM
control
Customers are required to pay up to
Secure prime land in premium locations 20% of purchase price on signing of Mitigate construction risk by reducing
Optimize expected returns the sale and purchase agreement, and uncertainties prior to project launch
at competitive prices
an additional 20% of purchase price
within 12 months of signing
• Dedicated business development • Returns driven design team. • In-house project management
team.
• Continuous value engineering to
• Large advanced sales team with team controlling costs and
international reach. contractors.
• Utilizing market intelligence and manage cost and efficiency.
network of contacts.
• Flexible design.
• Recognised brand. • Proactively engaged in
procurement.
• Brand associations driving
increased margins.

4
The DAMAC distinction

Quick cash-churn and aim for Prudent capital structure with

High business margins Disciplined land buying
rapid monetization focus on debt management

Brand tie ups2 (Versace,

High project IRRs1 Paramount, Trump, Cavalli,
Residential Luxury serviced De Grisogono)
Luxury lifestyle master
developments with apartments, condo
communities
mixed use components hotels and 5 star hotels

Customer-focused product
In-house hospitality brand
design & positioning, enables
DAMAC Maison
premium pricing

Sizeable internal sales team

Comprehensive in-house c. 50k units under progress Experienced management
and extensive global brokers
project management and planning team
network

Note: 1. IRR – Internal rate of return

2. Branded collaborations including past completed projects and projects in progress 5
Value enhancing product extensions

Residential focus … with product line extensions1

Branded Residential Co-Branded Hotel

Apartments and Villas
- Versace,Trump, Cavalli,
Just Cavalli, Paramount, - Paramount Hotels and
de GRISOGONO Resorts

Branded Hotel Rooms DAMAC Hotels and

Resorts
- Paramount Hotels and
Resorts - DAMAC Maison

Golf / Lifestyle Communities

- TRUMP Designs

ISO: 14001, ISO: 45001, ISO: 9001 certified DAMAC2

ISO: 9001, ISO: 14001, ISO: 45001 certified LOAMS3

Note: 1. Branded collaborations including past completed projects and projects in progress
2. Please refer to slide number 22 for more details regarding ISO for DAMAC 6
3. Luxury Owner Association Management Services Co. L.L.C. Facility management company, 100% owned by DAMAC
Major project portfolio in Dubai

7
Recent project launches

DAMAC Suncity community was launched

in 3Q 2024

DAMAC Shoreline at Al Marjan Island was DAMAC Islands community was launched in
launched in 3Q 2024 4Q 2024

8
DAMAC's signature premium projects

DAMAC Bay by Cavalli in Dubai Harbour was

launched in 1Q 2023

Safa Two by de GRISOGONO in Business DAMAC Casa in Al Sufouh was launched in

Bay was launched in 2Q 2022 4Q 2023

9
Key project: DAMAC Hills. Development case study

DAMAC Hills

October 2012 • Land SPA signed

• 42 mn sq ft development with total saleable area: 20 mn sq ft with estimated project value of c.AED23.9 bn (US$6.5
bn).
• Attractive scale with nearly 12 k units comprising villas, apartments, commercial and retail units and Trump International
Golf Course.
• Community has supermarkets, pharmacies, Hospital Clinics, Banks along with other facilities such as Malibu Beach water
area, skatepark, horse stable, cricket, tennis courts and football ground.

8 months
Back Villas Golf course facing villas

• Master planning
• Design approvals
• Brand associations
• Basic infrastructure works
• Sales launch
Low rise Apartments Mid rise Apartments
June 2013 • Launch of sales

August 2013 • Back villas infrastructure start

December 2015 • First deliveries of three G+7 buildings

February 2017 • Opening of Trump International Golf Course

December 2024 • Delivered approximately 8.6 k units

Commercial & Retail
• ~400 k sq ft of commercial space

10
Key project: DAMAC Hills 2. Development case study

DAMAC Hills 2 • 55 mn sq ft development with c.32 mn sq ft saleable area with estimated project
value of c.AED26.1 bn (US$7.1 bn).
• DAMAC Hills 2 is the Group’s second master community and builds on the successful
DAMAC Hills project (30% larger) with expected to have around 17 k units.
• Modeled on escapism and developed to provide a lush green environment with an air of
“Escape The City’’.
• Luxurious modern design will be integrated with retail and hospitality including a five-star
Hotel and wellness center, two world class schools.
• Globally-recognized retail brands, leisure and entertainment facilities, including c.350 k
sq ft of commercial space.
• Green living and open spaces including parklands and water elements.

July 2014 • Land SPA signed

August 2014 • First phase project launch and

collections started

April 2019 • First deliveries

December 2024 • Delivered over 10.7 k units

11
Key project: DAMAC Lagoons. Development case study

DAMAC Lagoons • 49 mn sq ft high-end lifestyle community development.

• DAMAC Lagoons is the Group’s third master community, building on the success of
DAMAC Hills and DAMAC Hills 2 projects.
• DAMAC Lagoons will feature over 13k units, with a total value of approximately
AED39.0 bn (US$10.6 bn). The community showcases luxury contemporary living
inspired by water, with features including a floating cinema, interactive exhibits, infinity
pools, a water park, a wave simulator, snorkelling, kayaking, and much more.
• DAMAC Lagoons is adjacent to our established community of DAMAC Hills, strategically
located on the Hessa Street in Dubai.

September 2021 • Land SPA signed

November 2021
• First phase project launch and
collections started

January 2022 • Launch of subsequent phases

December 2024 • Over 10.4 k units sold

12
Key project: DAMAC Riverside. Development case study

DAMAC Riverside • 11 mn sq ft of Dubai’s first riverside community development.

• DAMAC Riverside is the Group’s fourth master community with a total of 7.7k units and
a total value of approximately AED14.0 bn (US$3.8 bn).
• The first phase of DAMAC Riverside features approximately 1.9k units, consisting
exclusively of 4-bedroom and 5-bedroom townhouses. Amenities include a beachside
area, games zone, barbecue area, floating opera, floating cinema, floating sports, splash
climbing, island restaurant, and an amphitheater.
• DAMAC Riverside is located in Dubai Investment Park 2, at the intersection of Emirates
Road and Al Yalayis Road, with easy access to key roads and major highways.

February 2024 • Land SPA signed

May 2024
• First phase project launch and
collections started

December 2024 • Approximately 1.8 k units sold

13
Key project: DAMAC Islands. Development case study

DAMAC Islands • 30 mn sq ft of community development inspired by six of the world’s best tropical
island destinations: Maldives, Bora Bora, Seychelles, Hawaii, Bali and Fiji.
• DAMAC Islands is the Group’s latest master community and is expected to feature over
10k units, with a total value of around AED27.2 bn (US$7.4 bn). Amenities include a
fitness park, iguana and parrot park, fruit market, paddling, lagoon tours in hammocks,
lagoon waterfalls, a mini golf island, jungle river, tortoise garden, aqua park, zipline,
rapids, jungle swings, private boat rides and wildlife park.
• DAMAC Islands is located in Dubailand with easy access to key roads and major
highways.

July 2024 • Land SPA signed

November 2024
• First phase project launch and
collections started

December 2024 • Approximately 3.3 k units sold

13
3. Rating developments
DAMAC rating developments

Rating evolution for DAMAC

Legend Private Sukuk
S&P Rating Developments
Moody’s Rating Developments February 2023: 2.25 year, 7.5%, US$200 mn Private
Sukuk Placement, maturing on 7 May 2025

Public Sukuk

B+ BB- BB- Ba2 BB Ba2 April 2023: 3 year, 7.75%, US$400 mn Public Sukuk,
Positive outlook Stable outlook Positive outlook Stable outlook Stable outlook Positive outlook maturing on 27 April 2026

October 2023: 3.5 year, 8.375%, US$300 mn Public

22 March 2022 21 June 2022 28 February 2023 2 October 2023 19 February 2024 9 October 2024 Sukuk, maturing on 12 April 2027

January 2024: Tap of US$175 mn on top of the

existing US$300 mn Public Sukuk, maturing on 12
April 2027.

June 2024: Tap of US$125 mn on top of the existing

US$475 mn Public Sukuk, maturing on 12 April 2027.

Moody’s Rating developments S&P Rating developments

Ba2 BB
Current Credit Rating Current Credit Rating
In October 2024, Moody’s revised the outlook of Damac Real Estate Development In February 2024, S&P has upgraded DAMAC Real Estate Development Limited's long-
Limited from stable to positive and affirmed its corporate credit rating, as well as the term issuer rating to 'BB' on improved leverage metrics, outlook 'stable'. S&P has also
rating on its US$600mn senior unsecured trust certificates due 2027, both at ‘Ba2’. upgraded its rating on the Company’s senior unsecured sukuks to 'BB' from 'BB-'.
Full rating report available here Full rating report available here

14
4. Financial highlights, operating
environment, and latest key
financials
Latest financial highlights FY 2024

Revenue Gross profit Gross margin1

AED12,132 mn AED5,916 mn 49%

(FY 2023: AED8,843 mn) (FY 2023: AED4,979 mn) (FY 2023: 56%)

Operating cashflow2 Total assets Cash and bank balances3

AED4,610 mn AED 44,035 mn AED20,439 mn

(FY 2023: AED5,913 mn) (FY 2023: AED 33,203 mn) (FY 2023: AED16,069 mn)

Gross debt4 Debt to total assets5 Net profit6

AED5,119 mn 12% AED3,630 mn

(FY 2023: AED3,379 mn) (FY 2023: 10%) (FY 2023: AED4,231 mn)
Source: FY 2024 financial statements
1. Gross margin is calculated as gross profit divided by revenue
2. Operating cashflow is net cash generated from operating activities
3. Cash and bank balances include cash held in escrow and exclude escrow retention accounts
4. Gross debt is calculated as the sum of Bank borrowings and Sukuk certificates, without taking into account lease and other financial liabilities of approximately AED65 mn as of 31 December 2024
5. Debt to total assets is calculated as Bank borrowings and Sukuk certificates divided by total assets
6. Corresponds to the line item profit for the period after tax in FY 2024 financial statements
15
Financial highlights

Revenue and margins1, AED mn Development properties, AED mn

56%
11,629
49%
5%
9,461
37% 8,250 8,585
7,535 8%
21%
27% 30% 17%
23% 88%
48% 85%
37%
80%

4,678 2,967 3,000 8,843 12,132 33% 31% 3%

7% 6%
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

Revenue Gross margin Land held for development Properties under development Completed properties

Advances from customers, AED mn Total assets2, AED mn

44,035
33,203
21,569
77%
21,602 22,319 73% 73%
46%
58% 57%
48%
20% 18%
38%
54%
80% 82% 52%
62%
2,075 3,373 7,657 11,950 18,056

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
3
Cash as a % of total assets
Non-cash assets as a % of total assets
Source: FY 2024, 2023, 2022, 2021 financial statements 3
Notes: 1. Gross margin is calculated as gross profit divided by revenue Development property + cash as % of total assets
2. Total assets = cash + non-cash assets
3. Cash and bank balances including cash held in escrow and excluding escrow retention accounts
16
Financial highlights

Cash and bank balances breakdown1, AED mn Debt to assets ratio2,3

20,439 0.15
15%
16,069 0.12 0.12
17% 0.10

8,170 85% 0.06

25% 83%
4,242 4,120
43% 53% 75%
57% 47%
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

Cash held in escrow Cash on hand, bank balances and fixed deposits

FY 2024 cash flow breakdown1, AED mn Capital structure2,4, AED mn

(1,242) (178) 15,733

4,610 0.33
13,448 13,087 13,573
0.24 0.25
0.20 9,341
0.13
18,037
14,847

3,195 2,663 1,218 3,379 5,119

Cash & cash equivalents CF from operating CF from investing CF from financing Cash & Cash 2020 2021 2022 2023 2024
at the beginning of the activities activities activities Equivalents at the end of
period the period Equity Debt Debt/Equity
Notes: 1. The Cash and bank balances disclosure line includes fixed deposits with an original maturity of greater than three months, while the Cash & Cash Equivalents disclosure line excludes these deposits
2. Gross debt is calculated as the sum of Bank borrowings and Sukuk certificates, without taking into account lease and other financial liabilities of approximately AED65 mn as of 31 December 2024
3. Calculated as bank borrowings and Sukuk certificates divided by total assets
4. Calculated as bank borrowings and Sukuk certificates divided by total equity
17
Debt profile

Debt profile as at 31 December 2024

US$200 mn February 2023: 2.25-year, 7.5%, US$200 mn Private Sukuk Placement, maturing on 7 May 2025
Private Sukuk issued by Alpha Star Holding VI Limited and guaranteed by DAMAC.

US$400 mn April 2023: 3-year, 7.75%, US$400 mn Public Sukuk, maturing on 27 April 2026
Public Sukuk issued by Alpha Star Holding VII Limited and guaranteed by DAMAC.

AED50 mn May 2023: 2-year, Secured bank term loan facility, payable by 4 May 2025
Secured bank term loan facility amounting to AED100 mn. This facility has been fully utilised to finance the purchase of a land parcel. During the
period, AED50 mn was repaid.

US$600 mn October 2023: 3.5-year, 8.375%, US$300 mn Public Sukuk, maturing on 12 April 2027
Public Sukuk issued by Alpha Star Holding VIII Limited and guaranteed by DAMAC. Initial issuance of US$300 mn was followed by 2 taps:
US$175 mn in January 2024 and US$125 mn in June 2024.

US$50 mn July 2024: 5-year, Secured bank term loan facility, payable 19 July 2029
Secured bank term loan facility amounting to US$50 mn. This facility has been fully utilised and is repayable in eight semi-annual instalments on a
step-up basis after 12 months moratorium period.

AED102 mn August 2024: 4-year, Secured bank loan facility, payable 16 August 2028
Secured bank term loan facility amounting to AED325 mn. As of the reporting date, AED102 mn was drawn from this facility.

AED400 mn November 2024: 3-year, Secured bank loan facility, payable 31 December 2027
Secured bank term loan facility amounting to AED400 mn. As of the reporting date, facility is fully utilised. 18
Latest financial statements

Statement of Financial Position Profit and Loss Statement

FY 2024 FY 2024 FY 2023 FY 2023 FY 2024 FY 2024 FY 2023 FY 2023
in mn
AED US$ equiv. AED US$ equiv. in mn YoY Δ
AED US$ equiv. AED US$ equiv.

Cash and bank balances 20,439 5,562 16,069 4,372 Revenue 12,132 3,301 8,843 2,406 37%

Trade and other receivables 9,474 2,578 6,048 1,646 Cost of sales (6,215) (1,691) (3,865) (1,052) 61%

Development properties 11,629 3,164 9,461 2,575 Gross profit 5,916 1,610 4,979 1,355 19%

Other financial assets 1,707 464 850 231

Gross margin1 48.8% 48.8% 56.3% 56.3% N/A
Right-of-use assets 70 19 74 20
Other operating income 411 112 750 204 (45%)
Property and equipment 216 59 200 55
General, administrative and selling
(2,863) (779) (2,448) (666) 17%
Investment Properties 448 122 475 129 expenses

Due from related parties 51 14 24 7 Amortisation of right-of-use asset (5) (1) (3) (0.7) 71%

Total assets 44,035 11,982 33,203 9,035

Depreciation on PPE and
(48) (13) (37) (10) 29%
investment properties

Reversal of impairment on
Share capital 3,980 1,083 3,980 1,083 3 0.7 130 35 (98%)
development properties - net
Statutory reserve 155 42 154 42 (Provision)/reversal of loss
(3) (0.9) 85 23 N/A
allowance on trade receivables
Retained earnings 11,598 3,156 9,438 2,568
Other income 185 50 421 115 (56%)
Total equity 15,733 4,281 13,573 3,693
Finance income 836 227 576 157 45%

Trade and other payables 5,062 1,377 4,236 1,153 Finance costs (443) (121) (294) (80) 51%

Advances from customers 18,056 4,913 11,950 3,252 Reversal / (provision) for value
- - 73 20 (100%)
added tax
Bank borrowings 735 200 100 27 Profit before tax (6%)
3,988 1,085 4,231 1,151
Sukuk certificates 4,384 1,193 3,279 892
Income tax expense (358) (97) - - N/A
Lease liabilities 65 18 65 18
Net profit 3,630 988 4,231 1,151 (14%)
Total liabilities 28,302 7,701 19,630 5,342
Net margin2 29.9% 29.9% 47.8% 47.8% N/A
Total equity and liabilities 44,035 11,982 33,203 9,035

Source: FY 2024 financial statements

Notes: 1. Gross margin is calculated as gross profit divided by revenue
2. Net margin is calculated as net profit divided by revenue
19
Board of Directors and Committees1

Mr. Hussain Ali Habib Sajwani Mr. Sofyan Adnan Sami Khatib Mr. Farooq Mahmood Mohd Mr. Christophe Jacques Marc
Founder and Chairman of the Board Non-Executive Director Mahmood Arjomand Cuvillier
of Directors Non-Executive Director Non-Executive Director

Nomination and Remuneration Committee Audit and Risk Committee

• The Nomination and Remuneration Committee assists the Board of Directors in discharging its responsibilities relating • The Audit and Risk Committee assists the Board of Directors in discharging its responsibilities with regard to financial
to the composition of the Board of Directors, performance of the Board of Directors members, induction of new reporting, external and internal audits and controls, including monitoring the integrity of the Guarantor's financial
directors, appointment of committee members and succession planning for senior management. statements, monitoring and reviewing the extent of the non-audit work undertaken by external auditors, advising on the
• It is also responsible for evaluating the balance of skills, knowledge, diversity and experience on the Board of Directors, appointment, re-appointment, removal, remuneration and terms of engagement of external auditors and reviewing the
the size, structure and composition of the Board of Directors, retirements and appointments of additional and effectiveness of the Guarantor's internal audit activities, and internal controls.
replacement directors and makes appropriate recommendations to the Board of Directors on such matters. • In addition, the Audit and Risk committee assists the Board of Directors in assessing all areas of corporate risks,
• It prepares a description of the role and capabilities required for a particular appointment. conducting a detailed review of changes in risk profile, issues related to the functioning of the risk management
framework, including sales, construction, debt financing, and mortgaging.
• The Nomination and Remuneration Committee is comprised of three members, all of whom are independent non-
executive directors. The Nomination and Remuneration Committee is chaired by Mr. Sofyan Adnan Sami Khatib. • The Audit and Risk Committee is comprised of three members, who are all independent non-executive directors. The
Audit and Risk Committee is chaired by Mr. Sofyan Adnan Sam Khatib.

Note 1: On March 14, 2024, Mr. Subramanian Suryanarayan resigned from his position. On May 21, 2024, Mr. Christophe Jacques Marc Cuvillier was appointed as a new member of the Audit and Risk Committee.
20
Senior Management team – strong track record and industry experience

Mr. Ali Hussain Sajwani Ms. Amira Sajwani Mr. Mohammed Tahaineh
Mr. Hitesh Dhoot
Managing Director for Operations and Managing Director for Sales and General Manager for Real Estate
Chief Financial Officer
Technology Development Development and Construction

Mr. Joseph Berti

Mr. Mavelitharayil Philip John Mr. Sinanudin Omerhodzic
Senior Vice President for Legal and Risk
Chief Human Capital Officer Group Chief Information Officer
Department

21
ESG

Environment Social Governance

On May 23, 2024, Sustainalytics improved DAMAC’s Our diverse workforce fuels innovation, reflecting our On September 16, 2024, DAMAC has published its
ESG Risk Rating from 18.3 to 18.2. This improvement commitment to equality and respect. We value unique inaugural Sustainability Report for the year ending 2023.
is attributed to an enhancement in the ESG Risk backgrounds, skills, and viewpoints, with policies that This report includes calculations for Scope 1 and Scope
Management indicator, which increased from 43.4 to safeguard inclusivity and employee rights. 2 emissions, as well as disclosures related to energy,
43.9 points, particularly in the category of Stakeholder water, and waste consumption. It also addresses our
Governance. efforts towards the UN Sustainable Development Goals,
Age diversity, as at 31 December 2024 social contributions, environmental protection, and
27% 49% 21% 3%
corporate governance.

18.2 18-30 41-50

Today, thanks to forward-thinking leadership and the
UAE government’s progressive policies, the country is
31-40 51 and more poised to embrace a future full of innovation and
opportunity. In alignment with Dubai’s 2040 Urban
Master Plan and the vision of Chairman Hussain
Gender diversity, as at 31 December 2024
Sajwani, DAMAC leverages this visionary framework to
34% 66% guide future development projects, ensuring that our
Female
growth and initiatives support the country’s long-term
Male
In February 2024, DAMAC successfully secured ISO sustainability and innovation goals. This report marks
Results 14001:2015 and ISO 45001:2018 certifications. This the beginning of an open and transparent dialogue
achievement underscores the collective commitment to Nationality diversity, as at 31 December 2024 about our sustainability performance, objectives, and
environmental management and occupational health commitments.
and safety management. 45% 28% 8% 7% 7% 3%

Additionally, in January 2025, DAMAC successfully South Asia Africa 2%

Customer surveys
obtained ISO 9001:2015 certification for Quality Middle East Central and East Asia
Management System. South East Asia America, Australia,
New Zealand
Europe
ISO 9001 Quality Management System Total number of requests FY 2024: 450k
Disclaimer statement: DAMAC Real Estate Development Limited exposure to
Environmental, Social and Governance (“ESG”) risks and the related management
arrangements established to mitigate those risks have been assessed by several agencies,
including Sustainalytics (“ESG ratings”). ESG ratings may vary among ESG rating agencies
as the methodologies used to determine ESG ratings may differ. DAMAC Real Estate
ISO 14001 Environmental Management System Development Limited ESG ratings are not necessarily indicative of its current or future
operating or financial performance, or any future ability to service the Notes and are only
Customer satisfaction score FY 2024: 4.2/5.0
current as of the dates on which they were initially issued. Readers of this presentation must
determine for themselves the relevance of any such ESG ratings information contained in this
presentation or elsewhere in making an investment decision. Furthermore, ESG ratings shall
not be deemed to be a recommendation by DAMAC Real Estate Development Limited or any
other person to buy, sell or hold any securities. Currently, the providers of such ESG ratings
ISO 45001 Occupational Health & Safety Management System are not subject to any regulatory or other similar oversight in respect of their determination
and award of ESG ratings. For more information regarding the assessment methodologies
used to determine ESG ratings, please refer to the relevant ratings agency’s website (which
Average survey response rate FY 2024: 12%
website does not form a part of, nor is incorporated by reference in, this presentation)
22
Abbreviations

 US$ US dollars
 Mn million
 Bn billion
 AED United Arab Emirates dirham
 Sq ft square feet
 CRM credit risk management
K thousand
Q quarter (eg 3Q)
G ground floor (eg G+7 buildings)
 LOAMS Luxury Owner Association Management Services
Co. L.L.C. It is a facility management company,
100% owned by DRED

Exchange rate used throughout the presentation

1 US$ = 3.675 AED

23
Disclaimer

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