Earnings release
Page 1
ADNOC Classification : Public ADNOC DISTRIBUTION ADNOC Distribution Delivers Record H1 Net Profit • of $ 568 Million , Up 59 % YoY Resilient fuel demand , network expansion and NFR growth drive second consecutive first- half of double - digit growth with record EBITDA of $ 786 million and fuel volumes of 7.75 billion liters NFR gross profit up 12 % led by expanded customer offering to drive future growth Board of Directors approves dividend of 5.14 fils per share , increasing total dividends distributed since IPO to $ 5.8 billion • ADNOC Distribution's H1 performance reflects sustained momentum underpinned by four major growth initiatives announced throughout the year to diversify high - return revenue streams and future - proof the business , including the launch of the region's largest EV mega- hub , a strategic partnership with Americana Restaurants , the proposed acquisition of Shell Downstream South Africa and the launch of Engage by ADNOC Abu Dhabi , UAE - August 5 , 2026 : ADNOC Distribution ( ISIN : AEA006101017 ) ( ADX : ADNOCDIST ) delivered record first - half results , with net profit rising 59 % year - on - year ( YoY ) to $ 568 million and reported EBITDA increased 39 % to $ 786 million , reflecting strong operational performance and inventory gains during the period . Underlying EBITDA increased 14 % YoY to $ 603 million . Performance was supported by record fuel volumes , continued network expansion , inventory gains and sustained growth in the higher - margin non - fuel retail ( NFR ) segment . ( USD Millions ) H1 2026 Gross Profit 1,158 EBITDA 786 Underlying EBITDA 603 Net Profit 568 H1 2025 898 566 530 358 YoY % Change 28.9 % 38.8 % 13.9 % 58.5 % Fuel volumes reached a record 7.75 billion liters , supported by network expansion , as well as resilient retail and commercial demand . ADNOC Distribution's fuel retail network , spanning the UAE , Saudi Arabia and Egypt , increased to 1,045 service stations in H1 ( + 11 % YoY ) . Eng . Bader Saeed Al Lamki , Chief Executive Officer of ADNOC Distribution , said : " Despite a dynamic macroeconomic environment , ADNOC Distribution delivered another record performance in the first half of 2026 , demonstrating the resilience of our diversified business model and the strength of our growth strategy . We are scaling higher - margin opportunities in non - fuel retail while continuing to strengthen our core fuel business . Building on our H1 momentum , we are accelerating innovation , expanding our digital revenue streams and progressing with the proposed acquisition of Shell Downstream South Africa – a major milestone in our international expansion journey . As we - شركة بترول أبوظبي الوطنية للتوزيع Abu Dhabi National Oil Company for Distribution ص ب 4188 ، أبوظبي ، الإمارات العربية المتحدة PO Box 4188 , Abu Dhabi , UAE adnocdistribution.ae أدنوك للتوزيع ADNOC Distribution
Page 2
ADNOC Classification: Public continue to shape the future of mobility, our focus remains on delivering exceptional customer experiences and creating sustainable shareholder value.” GROWING HIGHER-MARGIN BUSINESSES ADNOC Distribution advanced its transformation into a future-focused mobility and convenience retail leader in H1 2026, launching the region’s largest electric vehicle (EV) mega-hub on the E11 highway between Abu Dhabi and Dubai. The Company’s E2GO charging network grew +35% YoY in the first six months of this year, with volume of energy sold increasing by 2.1x compared to H1 2025. EVs charged by ADNOC Distribution travelled 27.4 million low-emission kilometers in H1 2026, representing 2x YoY growth. Alongside the expansion of its EV charging network, ADNOC Distribution's NFR business remained a key driver of higher-margin growth in H1, with gross profit increasing by 12% supported by higher footfall, increased transactions and an expanded food and convenience offering. The Hub by ADNOC, the Company’s pioneering roadside retail concept, supported NFR growth during the period. With a retail footprint three times larger than traditional service stations, The Hub by ADNOC’s locations are expected to deliver annual EBITDA of $30 million by 2030. Building on this momentum, ADNOC Distribution is expanding its customer proposition through initiatives such as its strategic partnership in May to launch up to 200 quick-service restaurants (QSRs) from Americana Restaurants International’s portfolio across its network. ADVANCING AI AND DIGITAL CAPABILITIES ADNOC Distribution launched Engage by ADNOC, the UAE’s first full-funnel retail media network operated by a mobility and convenience retailer, this July. Supported by ADNOC Group’s Artificial Intelligence and Digital Transformation (AIDT) program, the platform aims to create a new data-driven, high-return revenue stream for ADNOC Distribution. The Company is also advancing more than 20 AI initiatives for key areas across the business including customer engagement, with progress reflected in the ADNOC Rewards app approaching 2.8 million members in H1, supporting customer frequency and spend. ACCELERATING OUR INTERNATIONAL EXPANSION The Company is advancing international expansion plans as it delivers on its 2024-28 strategy for long-term growth. ADNOC Distribution entered a definitive agreement this July for the proposed acquisition of Shell’s downstream business in South Africa at an implied enterprise value of $1 billion, subject to regulatory approvals. The acquisition is anticipated to deliver an earnings-per-share uplift of 6% in the first full year after completion, expected in 2027, while supporting ADNOC Distribution’s ambition to transform into a leading global mobility retailer. SHAREHOLDER RETURNS The Board approved a Q2 2026 dividend of 5.14 fils per share ($175 million), payable in September, in line with its policy to deliver $700 million annually or at least 75% of net profit, whichever is higher. Upon the payout of Q2 2026 dividends, ADNOC Distribution will have delivered an estimated $5.8 billion (AED21.5 billion) in dividends since IPO.
Page 3
ADNOC Classification: Public Key Dates: Last Day to Participate August 12, 2026 Ex-Dividend Date August 13, 2026 Record Date August 14, 2026 Payment Date September 1, 2026 -ENDS- For media inquiries, please contact: media@adnocdistribution.ae For investor relations, please contact: IR@adnocdistribution.ae About ADNOC Distribution: ADNOC Distribution is a leading mobility retailer in the UAE. The Company has been providing energy for customers’ journeys since 1973. Since this time, the Company has continuously been at the forefront of providing the best in customer service. Today, AD NOC Distribution enables, enhances, and energizes every customer journey thanks to digitally enabled, innovative customer experiences and high-quality non-fuel retail products. The Company operates service stations in all seven emirates in its home country, plus Saudi Arabia and Egypt, and sells lubricants in 54 countries across the world via distributors. Now in its 53rd year, ADNOC Distribution has 1,045 service stations, 569 in the UAE, 231 in Saudi Arabia, and 245 in Egypt. As a non -fuel retail leader in the UAE, it operates 387 Oasis by ADNOC convenience stores, 37 vehicle inspection centers, and other leading services spanning car wash, lube change, and has 406 EV charging points installed under the E2GO brand in the UAE. The Company is also a leading marketer and distributor of fuels to commercial, industrial, and government customers throughout the UAE. All figures as of 30 June 2026. ADNOC Distribution aims to be the global mobility retailer of choice, enabler of sustainable mobility, and provider of exceptional customer experiences. To find out more, visit www.adnocdistribution.ae. Cautionary Statements Relevant to Forward-Looking Information: This news release contains forward-looking statements relating to ADNOC Distribution’s operations that are based on management’s current expectations, estimates, and projections about petroleum, chemicals, and other related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,”” guidance,” “focus,” “on schedule,” “on track,” "is slated,” “goals,” “objectives,” “strategies,” “opportunities,” and similar expressions are intended to identify such forward looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, ADNOC Distribution undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.