Slides
Page 1
Aldar Properties 9M 2026 RESULTS PRESENTATION 27 Oct 2026
Page 2
9M 2026 Results Presentation 9M 2026 HIGHLIGHTS October 2026
Page 3
9M 2026 EXECUTIVE SUMMARY ▪ Elevated platform operating at higher performance run rates through recognition of sizeable backlog; well-positioned for sustainable growth ▪ UAE sales at AED 14.4bn (-46% YoY), UAE revenue backlog at AED 59.3bn ▪ 12 launches in UAE including 7 launches in Q3 (Al Ghadeer Gardens II, The Canopies, Sei Saadiyat, Al Ghadeer Parks I & II, Talay, Talay Beach, Yas Riva) ▪ Egypt sales at AED 3.0bn ▪ LSQ sales at AED 1.4bn, 4 new launches and 4 land acquisitions Aldar Development Group • Cross-platform growth driven by inventory sales, ongoing recognition of development revenue backlog, contributions from recurring income portfolio from both organic and acquisitions • Strong balance sheet underpins strategy execution and counter-cyclical approach • Focused on prudent capital deployment and phased development launches in context of current global backdrop • Continued focus on D-Hold pipeline currently at AED 21.3bn Revenue AED 26.2bn +11% YoY EBITDA AED 9.4bn +20% YoY Net Profit1 AED 7.1bn +19% YoY Group Sales AED 18.9bn -34% YoY EBITDA AED 6.1bn +21% YoY Group Backlog AED 71.6bn Aldar Investment2 Revenue2 AED 6.5bn +13% YoY Adj. EBITDA2,3 AED 2.8bn +21% YoY AUM AED 57bn ▪ Strong organic growth supported by strategic acquisitions & strong performance across core real estate portfolio, Education and Estates ▪ In Q2 26, Emirates Snack Foods build-to-suit logistics D-Hold asset completed ▪ In Q2 26, Saadiyat Grove D-Hold asset completed ▪ In Q3 26, Jebel Ali NIP Logistics Park (phase I) D-Hold asset completed Core growth drivers: In UAE, become leading destination builder, diversify product & customer segments & replenish strategic landbank. Market expansion in Egypt & UK organically & through land replenishments, penetrate new markets Core growth drivers: Organic Growth, D-Hold Expansion, M&A and Value Extraction 1 Net Profit After Tax. Corporate Income Tax Rate is 15% in 2026. Effective tax rate in 9M 26 is 12.1% versus 12.6% in 9M 25 2 Excluding Pivot 3 Adjusted for fair value movements (excluding amortization of leasehold assets),recognition/reversal of impairments, and one-off gains/losses on acquisitions 9M 2026 Results Presentation I 3
Page 4
Saadiyat Island, Abu Dhabi Baccarat Residences (Q1) Sei Saadiyat (Q3) Talay (Q3) Talay Beach (Q3) Yas Island, Abu Dhabi Yas Park Place (Q2) Yas Acres - The Orchids (Q2) The Canopies, Yas Point (Q3) Yas Riva Reserve (Q3) Dubai The Wilds Residences (Q1) Abu Dhabi, Other Al Ghadeer Gardens I (Q2) Al Ghadeer Gardens II (Q3) Al Ghadeer Parks I & II (Q3) 9M 2026 & YTD ANNOUNCEMENT HIGHLIGHTS Commercial & Residential Aldar and Mubadala ‘Masdar City’ JV, acquired The Link (fully leased mixed- use assets) for AED 654mn 1 (Q1) Aldar and Mubadala ‘Masdar City’ JV, acquired Masdar City Square (commercial assets) for AED 918mn 2 (Q3) Industrial & Logistics Acquisition of three additional assets in KEZAD for AED 650mn (Q2) Aldar Development Aldar Investment Group ▪ Issuance of USD 1.0bn Public Subordinated Hybrid Notes to accelerate growth agenda (Q1) ▪ Issuance of USD 1.0bn Hybrid Notes to Apollo to support growth momentum and further optimise capital structure of Group and AIP. Increased stake in AIP by 2%(Q1) D-Hold (additional AED 6.6bn) Residential & Retail 9,000+ units, MBZ City & Baniyas, DMT value housing programme, Abu Dhabi (Q2) Residential & Retail development in Dubai Studio City, Dubai (Q2) 1,100 units in Aljada, Sharjah (October) ▪ Closing of AED 5.0bn five-year syndicated sustainability-linked revolving committed credit facility (Q2) ▪ Closing of GBP 100mn accordion option on LSQ's revolving credit facility with maturity in 2030 (Q3) Landbank expansion in Abu Dhabi and Dubai Dubai: 2 land plots, combined GDV ~AED 38bn, Dubai Holding JV expansion (Q1) Abu Dhabi: New land plots, combined GDV ~AED 23bn, private JV (Q1) Marsa Al Saadiyat, GDV ~AED 60bn+ (Q3) Education Relocation of Cranleigh Abu Dhabi to a new campus, Saadiyat Island, Abu Dhabi (Q2) Al Ghadeer British School opening AY 2030/2031, Abu Dhabi (Q2) 7 new launches in Q3; total of 12 in 9M 9M 2026 Results Presentation I 4 1 JV metrics are reported on a 100% basis, Aldar’s share is AED 392mn 2 JV metrics are reported on a 100% basis, Aldar’s share is AED 551mn. Large-scale mixed-use community in Seih Al Sedeirah, GDV ~AED 11bn (Q3) Arada Developments JV
Page 5
26.5 14.4 2.0 4.4 28.5 18.9 9M 25 9M 26 International ALDAR DEVELOPMENT (1/2) Solid 9M 2026 performance driven by disciplined launch strategy and a strong Q3 launch calendar, sales of existing inventory & project execution against backlog 15.3 17.8 1.9 1.6 17.1 19.4 9M 25 9M 26 International -46% UAE +17% UAE 1.2 2.2 4.1 6.8 0.3 0.2 0.2 0.4 1.5 2.5 4.3 7.2 FY 22 FY 23 FY 24 FY 25 EBITDA (AED bn) UAE 4.8 6.1 0.20 5.0 6.1 9M 25 9M 26 International 7.2 11.0 24.3 28.3 35.5 3.4 3.6 5.3 5.1 7.2 14.4 27.9 33.6 40.6 FY 21 FY 22 FY 23 FY 24 FY 25 Group Sales (AED bn) UAE 3.9 5.5 7.0 14.0 21.6 1.4 1.3 1.7 3.2 3.9 7.0 8.3 15.7 24.8 FY 21 FY 22 FY 23 FY 24 FY 25 Revenue (AED bn) UAE +21% +26% UAE -34% +14% 9M 2026 Results Presentation I 5 6.0 12.1 29.1 45.9 61.0 59.3 5.5 7.6 8.7 10.7 12.3 6.0 17.6 36.8 54.6 71.7 71.6 FY 21 FY 22 FY 23 FY 24 FY 25 9M 26 Group Backlog (AED bn) UAE International
Page 6
ALDAR DEVELOPMENT (2/2) - UAE Property Development & Sales Abu Dhabi, 71% AED 25.1bn Dubai, 25% AED 9.0bn RAK, 4% AED 1.4bn Sales Breakdown Abu Dhabi, 89% AED 12.8bn Dubai, 11% AED 1.5bn FY 25 AED 35.5bn 9M 26 AED 14.4bn TOP 5: UAE UK India China Russia TOP 5: India UAE UK China France 9M 2026 Results Presentation I 6 72% 34% 22% 23% 22% 12% 38% 55% 51% 50% 16% 28% 24% 26% 28% FY 22 FY 23 FY 24 FY 25 9M 26 Sales Demographic, UAE UAE Nationals Resident Expats Overseas TOP 5: China UK Russia USA Taiwan TOP 5: India UK China Russia USA 3.5 7.0 7.4 7.5 3.63.8 1.2 1.2 0.9 1.9 FY 22 FY 23 FY 24 FY 25 9M 26 Units Sold & Units Handed Over (k) Units Sold Units Handed Over 6.6 6.2 11.0 15.4 11.4 FY 22 FY 23 FY 24 FY 25 9M 26 Cash Collected (AED bn)
Page 7
517 ( 32 ) ( 11 ) 51 ( 30 ) 2,341 2,836 9M 25 IP H&L Education Estates Others 9M 26 Adj. EBITDA (AED mn) 621 ( 74 ) 56 173 ( 10 ) 5,761 6,527 9M 25 IP H&L Education Estates Others 9M 26 Revenue (AED mn) ALDAR INVESTMENT (1/3) Strong organic growth supported by strategic acquisitions delivering significant contributions +8%-10%+30% +8% +16%-15%+34% -5% +13% +21% 1 Excluding Pivot 2 Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments and one-off gains/losses on acquisitions 3,284 4,120 5,759 6,979 8,061 FY 21 FY 22 FY 23 FY 24 FY 25 Revenue1 (AED mn) 1,202 1,608 2,251 2,706 3,243 FY 21 FY 22 FY 23 FY 24 FY 25 Adj. EBITDA1,2 (AED mn) 9M 2026 Results Presentation I 7
Page 8
1 Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments and one-off gains/losses on acquisition ALDAR INVESTMENT (2/3)- INVESTMENT PROPERTIES Strong Adj. EBITDA growth across commercial, retail, and industrial & logistics segments Adj. EBITDA1 (AED mn) Organic Acquisitions & completed D-HoldDisposals & Divestments +65% Occupancy 96% • Commercial 99% • Residential 97% • Retail 87%2 • Industrial & Logistics 98% Acquisitions & Completed D- Hold Commercial: • Yas Place, Abu Dhabi (completed D-hold, 2025) • The Link, Abu Dhabi (Acquisition, 2026) • Masdar City square (Acquisition., 2026) Residential: • The Link, Abu Dhabi (Acquisition, 2026) Retail: • Noya Retail, Abu Dhabi (completed D-Hold, 2025) • Yas Golf Collection, Abu Dhabi (completed D-Hold, 2025) • GLC, Al Maryah Island, Abu Dhabi (Merger, 2025) • Saadiyat Grove (completed D-hold, 2026) Industrial & Logistics: • Al Markaz, Abu Dhabi (Acquisition, 2025) • Kezad Assets (2 assets), Abu Dhabi (Acquisition, 2025) • Kezad Assets (3 assets), Abu Dhabi (Acquisition, 2026) • Emirates Snack Foods, build-to-suit (completed D-hold, 2026) • NIP Logistics Park phase 1 (completed D-hold, 2026) 2 94% excluding Remal Mall; 97% excluding Saadiyat Grove and Remal Mall 9M 2026 Results Presentation I 8 1,487 1,665 2.0 0.119.6 3611,509 2,026 9M 25 9M 26 Investment Properties +34% +12% 389 388 1.7 0.1 3.3390 391 9M 25 9M 26 Residential +0.2% -0.2% +3% excl. Eastern Mangroves & divestments of strata units 415 516 5.3 203420 719 9M 25 9M 26 Retail +71% +25% 53 57 14 9467 151 9M 25 9M 26 Industrial & Logistics +126% +8% 642 705 0.4 0.3 61.3643 767 9M 25 9M 26 Commercial +19% +10%
Page 9
ALDAR INVESTMENT (3/3) – H&L, EDUCATION & ESTATES Adj. EBITDA (AED mn) excl. acquisitions2 Acquisitions & completed D-Hold Hospitality & Leisure Occupancy 57% ADR AED 720 (+14% YoY) RevPAR AED 410 (-6% YoY) Education 27 Schools 13 Operated schools 14 Managed schools 38k Students 20k Operated schools 18k Managed schools Aldar Estates1 Property Management & Community Management Facilities Management Integrated Community Services Valuation & Advisory Acquisitions & completed D-Hold 1 Aldar ownership of 82.55% in Aldar Estates 2 Includes like-for-like, disposals and under transformation assets - Yasmina American School (Brownfield D-hold, 2025) - Muna British Academy (Greenfield D-hold, 2025) - Hansa Energy (Acquisition, 2025) 9M 2026 Results Presentation I 9 211 179 211 179 9M 25 9M 26 -15% 217 212 -5 -11 212 201 9M 25 9M 26 -5% -2% 305 359 8 5313 364 9M 25 9M 26 +16% +18% +4% excl. one–off calendar-related revenue recognition
Page 10
Bank debt 13.3 Senior Public Debt 8.4 Subordinated Hybrid Notes 12.9 Outstanding Debt (AED bn) AED 34.6bn Free & unrestricted cash 3 18.3 Committed undrawn bank facilities 19.9 Available liquidity (AED bn) 1 Includes AED 12.5bn of Subordinated Hybrid notes issued in 2025 and 2026 by Aldar Properties PJSC 2 Calculated based on IFRS numbers (excluding IFRS 16 liabilities) 3 Escrow balances for all projects with over 20% progress are unrestricted & reclassified as available cash. Escrow balances for projects with less than 20% progress are also classified as available cash when approval is obtained from relevant authority. Total escrow balance is AED 20.4bn ROBUST GROUP BALANCE SHEET SUPPORTING GROWTH Robust Group liquidity of AED 38.2bn (AED mn) 30 Sep 26 31 Dec 25 Debt1 33,916 25,187 Cash 23,213 21,335 Total Equity 55,736 48,752 Gross Debt to Total Assets 26% 23% Senior Debt to Total Assets 16% 18% Net Debt to Adj. EBITDA 2 1.3x 1.0x Adj. EBITDA to Interest expense 2 6.9x 7.6x Secured Debt to Total Assets 0.6% 0.7% 9M 269M 26 AED 38.2bn 9M 2026 Results Presentation I 10 1.1 0.1 2.8 5.3 4.1 0.1 1.8 6.6 12.9 2026 2027 2028 2029 2030 >2031 Debt Maturity Profile (AED bn) Bank Debt Drawn Senior Public Debt Subordinated Hybrid Notes
Page 11
16.5 15.5 15.8 16.7 2021 2023 2024 2025 Sustainalytics Index Our vision encompasses a focus on generating societal value through inclusive growth and vibrant, connected neighbourhoods that empower individuals and communities, promote equity, and drive socioeconomic development. We uphold responsible, ethical business practices and accountability as the foundation for embedding sustainability across our value chain, providing a safe and inclusive workplace, and positioning ourselves as an ‘employer of choice’ to create a lasting positive legacy for stakeholders and the industry. SUSTAINABILITY FRAMEWORK Shaping a Better Future To create resilient, inclusive & thriving communities by integrating sustainable practices across all operations We are focused on shaping thriving communities and creating sustainable places that integrate climate resilience, and resource efficiency into every stage of a building’s lifecycle, accelerating our progress towards Net Zero. Leading Impactful Communication Communication that is intentional, stakeholder- focused and trust-building facilitates positive change and empowers people to collaborate for success. Fostering Collaborative Partnerships Collaborative partnerships open up new opportunities and foster innovation, enabling creative solutions to tackle Accelerating Innovation Innovation serves as a powerful catalyst for technological transformation, enabling operational efficiency, environmental stewardship and sustainable growth. CREATING SUSTAINABLE PLACES CREATING SOCIETAL VALUE CREATING RESPONSIBLE LAGACY PillarsEnablers 1 Sustainalytics did not issue scores in 2022 BB BBB BBB BBB A 2021 2022 2023 2024 2025 MSCI Index 58 60 47 61 67 2021 2022 2023 2024 2025 DJSI No.1 Rank maintained–GCC Real Estate 95 Global percentile 9M 2026 Results Presentation I 11 In July 2025, Aldar joined the FTSE4Good Index Series, demonstrating Aldar’s robust ESG risk management
Page 12
2026 Targets ▪ 30% reduction in EUI by design from ASHRAE 2007 ▪ 40% reduction in WUI by design from Estidama baseline ▪ 25% reduction in embodied carbon in construction (materials) ▪ 2% reduction in energy consumption for existing assets ▪ 85% of construction and demolition waste to be recycled ▪ 2% reduction in water consumption for existing assets ▪ 100% of investment opportunities undergo ESG due diligence CREATING SOCIETAL VALUE CREATING SUSTAINABLE PLACES CREATING RESPONSIBLE LEGACY 2026 Targets ▪ 100% of new developments launched in Abu Dhabi achieved 3 Pearl Estidama design rating ▪ 100% of new developments achieve 2 -star Fitwel ▪ 12 Tier-1 direct contractors engaged in the implementation of Aldar grievance mechanism SUSTAINABILITY & COMMUNITY OUTREACH HIGHLIGHTS 2026 Targets ▪ Maintain Lost Time Injury Frequency Rate (LTIFR) <0.35 per project ▪ 100% of construction & non-construction tenders (> AED 5mn) evaluated against sustainability criteria ▪ 100% of appointed contractors to be trained on sustainability 9M 2026 Highlights ▪ 80% of new developments launched in Abu Dhabi achieved 3 Pearl Estidama design rating ▪ 100% of new developments achieved 2 -star Fitwel ▪ 16 Tier-1 direct contractors engaged in the implementation of Aldar grievance mechanism 9M 2026 Highlights ▪ 34% reduction in EUI by design from ASHRAE 2007 ▪ 42% reduction in WUI by design from Estidama baseline ▪ 2% reduction in energy consumption for existing assets ▪ 2% reduction in water consumption for existing assets ▪ 100% of investment opportunities underwent ESG due diligence 9M 2026 Highlights ▪ LTIFR: 0.038 ▪ 100% of construction & non-construction tenders (> AED 5mn) evaluated against sustainability criteria ▪ 100% of appointed contractors trained on sustainability 9M 2026 Results Presentation I 12
Page 13
FY 25 9M 26 (Actual) FY 261 (1yr Guidance) Aldar Properties Adj. EBITDA AED 9.9bn AED 8.7bn AED 12.3 to 12.7bn Deployment(M&A) AED 3.3bn AED 2.0bn2 AED 3 to 4bn Capex (D-Hold) AED 2.1bn AED 1.2bn3 AED 3 to 4bn Aldar Development (AD) Sales AED 40.6bn AED 18.9bn AED 30 to 34bn EBITDA AED 7.2bn AED 6.1bn AED 8.9 to 9.3bn o/w PMS AED 0.9bn AED 0.6bn AED 0.9 to 1.0bn Gross Profit Margin – PDS (UAE) 36% 38% 37-39% Aldar Investment (AI) Adj. EBITDA AED 3.2bn AED 2.8bn AED 3.7 to 3.9bn o/w M&A contribution AED 0.3bn AED 0.05bn4 AED 0.14 to 0.18bn4 2026 GUIDANCE 1 As per guidance revisions in H1 2026 2 Deployment details on slide 67 3 Capex details on slide 74 4 Related to 2026 M&A, Q1 2026 (AED 0), H1 2026 (AED 0.03bn) On track to deliver on FY 2026, as per guidance revisions in H1 2026 9M 2026 Results Presentation I 13
Page 14
9M 2026 Results Presentation Q&A October 2026
Page 15
THANK YOU
Page 16
9M 2026 Investor Presentation ALDAR PROPERTIES OVERVIEW October 2026
Page 17
Commercial, Residential & Retail 4 JVs Sorouh Real Estate merger 20 YEARS OF HISTORY & EXPERIENCE Enabling us to mobilise, optimise and provide exceptional services in the real estate market New Operating Model SODIC, Egypt acquisition Apollo investment in AIP Launched residential sales in Dubai & Ras Al Khaimah Significant Milestones 2005 2013 2018 2020 2021 2022 2023 2024 TDIC assets acquisition Aldar Investment Properties (AIP) established London Square, UK acquisition Aldar Properties established as Abu Dhabi focused master developer & listed on ADX Pure Play Developer Growing Conglomerate Growth & Expansion 2025 Aldar Capital launch Gaw Capital Partners off-plan residential sale Retail and H&L in Ras Al Khaimah North Al Maryah Island mixed- use development JV Launched residential sales in Al Fahid Island Regional Real Estate Champion Mubadala Founding shareholder 4 Grade A ADGM Towers acquisition Al Maryah Tower JV Private Credit Platform Europe & UK partnership One Maryah Place JV Commercial ,Retail in DubaiResidential, Logistics, Education in Dubai 9M 2026 Results Presentation I 17
Page 18
1 All figures as of 31 December 2025, unless otherwise stated 2 SODIC owned in consortium with ADQ. Consortium owns 85.5% of SODIC (Aldar share of 59.9%) 3 Moody’s credit rating; AIP is an issuer of USD 0.5bn of Sukuk maturing in 2029 & USD 1.8bn Green Sukuks maturing in 2033, 2034 and 2035 4 Excludes Pivot 5 Closing share price – 31 Dec 2025: AED 8.70 6 Moody’s credit rating; Aldar Properties is an issuer of USD 2.0 bn 30.25NC7.25 Public Subordinated Hybrid and USD 1.5 bn 30.25NC10.25 Privately Placed Subordinated Hybrid Notes ALDAR PROPERTIES DIVERSIFIED BUSINESS MODEL1 (31 DEC 2025) Leading real estate developer, operator and asset manager with two core businesses: Aldar Development & Aldar Investment ALDAR INVESTMENT ALDAR DEVELOPMENT Abu Dhabi Dubai RAK International Property Dev & Sales Core UAE residential build-to-sell business ✓ ✓ ✓ Project Management Services Managing government housing & infrastructure projects in the UAE ✓ International - SODIC2, Egypt - London Square, UK Egypt, UK Investment Properties - Retail - Residential - Commercial - Industrial & Logistics ✓ Hospitality & Leisure - Hotels - Golf Clubs - Leisure ✓ Aldar Education Leading education group in Abu Dhabi: - Owned & operated schools - Managed Schools ✓ ✓ Aldar Estates - Facility management - Property Management - Integrated community services - Valuation & Advisory ✓ Egypt, Oman, KSA Others - Private Credit - Co-working - Alternative real estate financial investments ✓ Europe, UK ✓ ✓ ✓ Market Cap AED 68.4bn 5 Moody’s Credit Rating Baa26 ✓ ✓ MSCI Index A DJSI 67 Sustainalytics Index 16.7 Revenue AED 33.8bn EBITDA AED 11.2bn Net Profit AED 8.8bn Aldar Investment Properties: Baa13 Rev. (AED) 18.0bn (73%) 3.6bn (14%) 3.2bn (13%) EBITDA (AED) 5.9bn (82%) 0.9bn (13%) 0.4bn (5%) 2.8bn (35%) 1.2bn (15%) 1.0bn (12%) 2.9bn (36%) 0.2bn (2%) 3.2bn (72%) 0.4bn (8%) 0.3bn (6%) 0.5bn (11%) 0.1bn (3%) Revenue AED 24.8bn EBITDA AED 7.2bn Revenue AED 8.1bn4 EBITDA AED 4.5bn4 AUM AED 49bn ✓ 9M 2026 Results Presentation I 18
Page 19
STRONG EXECUTION ON GROWTH & EXPANSION STRATEGY An Abu Dhabi based company, leveraging the strengths of its 2020 operating model, delivering an elevated platform in terms of scale, efficiencies and diversification in 2025 AED bn 2020 2025 5 -yr CAGR Market Cap 24.81 68.42 22% Revenue 8.4 33.8 32% EBITDA 2.4 11.2 36% Net profit after tax 1.9 8.8 36% Total Assets 40.2 109.6 22% EPS (AED) 0.25 0.96 31% ROE 7.6% 19.3% ROIC 6.8% 13.4% AUM AED 49bn AED 16bn (2020) Sales AED 40.6bn AED 3.6bn (2020) Backlog AED 71.7bn AED 3.5bn (2020) Keys 3,867 2,930 (2020) Students 18k 9k(2020) 18k 16k(2020) Core Business Growth ~11.2x ~20.7x~3.1x Segment & Sector Diversification Industrial & Logistics Private Credit EgyptGCC RAK UK EuropeDubai Geographic Expansion ~1.3x Luxury Living SecuritySelf Storage Landscaping Operated Schools Managed Schools ~2.0x ~1.1x 1 Closing share price – 31 Dec 2020: AED 3.15 2 Closing share price – 31 Dec 2025: AED 8.70 ~2.8x ~4.0x ~4.6x ~4.6x ~2.7x ~3.9x ~2.5x 5-yr TSR 222% ~2.0x 9M 2026 Results Presentation I 19
Page 20
9M 2026 Investor Presentation STRATEGY & GUIDANCE October 2026
Page 21
ALDAR GROUP VISION 2030 Become the regional real estate champion that creates signature experiences to our customers and sustainable value to our shareholders Strategic Pillars Vision Regional Champion Signature Experience Sustainable Value Net Profit1 AED 20bn+ Group ROIC 16%+ Customer Net Promoter Score 60+ Customer Cross-Selling & Win Back across product offering, geographies & segments “Best Global Sales Platform” EBITDA development : recurring (incl. PMS) Targeting 50:50 Sustainability Top among global real estate peers Investment Grade Rating High Growth Investment Stock Progressive Dividend Employer of Choice Trusted Brand 1 Net Profit after tax PRODUCT EXCELLENCE CAPITAL MANAGEMENTSIGNATURE EXPERIENCE ENABLERS Drive Artificial Intelligence across the entire Aldar value chain Revamp internal processes & digital infrastructure to enable productivity & efficiency Invest in people & culture to attract and retain top talent Design exceptional product Bespoke customer experience Create long-term value Group ROE 20%+ 9M 2026 Results Presentation I 21
Page 22
Aldar Investment CORE BUSINESS GROWTH DRIVERS Growth driven by UAE, core real estate recurring income portfolio expansion & growing platforms Aldar Development Deployment & D-Hold ▪ Group capital deployment strategy includes land replenishment, M&A and Develop-to-Hold (D-Hold) ▪ D-Hold to grow recurring income portfolio & strengthen investments in core real estate portfolio ▪ New products i.e. Staff & Student Accommodation, Senior Living, Co -Living ▪ Disciplined expansion of core real estate portfolio (Commercial, Residential, Retail and Industrial & Logistics) & Hospitality, Education and Estates platforms in Abu Dhabi, Dubai, Northern Emirates ▪ Organic growth & growth through capital deployment (M&A and D -Hold) ▪ Grow exposure to alternative asset classes ▪ Reposition and optimize portfolio to extract additional value ▪ Recycle non-core and mature assets into higher return opportunities ▪ Become leading destination builder providing signature experiences to customers ▪ Diversify product offering across key destinations and segments (affordable, mid market, premium and luxury) ▪ Prioritize seamless customer journey to deliver digital first and hospitality- grade service ▪ Continue to replenish strategic land bank in Abu Dhabi & Dubai ▪ Continue to grow the Egypt & UK platform organically and through land replenishment ▪ Cross sell products across 3 countries UAE Expansion 3rd Party Capital • Co-invest through funds or strategic partners internationally to enable growth & scale business knowledge in alternative asset classes • Launch Aldar Capital fund of USD 1bn+; sourcing & managing third party capital Aldar Group ▪ Grow core real estate portfolio & Hospitality, Education & Estates platforms regionally (M&A or D-Hold) ▪ Ensure readiness for monetization from different sources (either public listing or private sale) ▪ Bolt-on transactions across Aldar Education and Aldar Estates Partner of choice ▪ Continue to be the strategic partner of choice for the government (Aldar Projects) 9M 2026 Results Presentation I 22
Page 23
9M 2026 Investor Presentation GROUP October 2026
Page 24
9M 2026 GROUP FINANCIAL HIGHLIGHTS (1/2) Sustained growth driven by ongoing execution of development revenue backlog, solid development sales and contributions from recurring income portfolio 1 Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments, and one-off gains/losses on acquisitions 2 Corporate Income Tax Rate is 15% in 2026. Effective tax rate in 9M 2026 is 12.1% versus 12.6% in 9M 2025 (AED mn) FY 2025 Q3 26 Q3 25 YoY 9M 26 9M 25 YoY Revenue 33,818 9,345 8,026 16% 26,188 23,553 11% Gross profit 11,575 3,387 2,752 23% 9,635 8,094 19% Margin (%) 34% 36% 34% 195bps 37% 34% 243bps EBITDA 11,230 3,024 2,488 22% 9,360 7,792 20% Margin (%) 33% 32% 31% 136bps 36% 33% 266bps Adjusted EBITDA1 9,858 3,024 2,436 24% 8,718 7,194 21% Margin (%) 29% 32% 30% 202bps 33% 31% 275bps Net profit before tax 9,964 2,575 2,148 20% 8,086 6,824 18% Income tax2 1,131 324 287 13% 975 858 14% Net profit after tax 8,834 2,251 1,861 21% 7,111 5,966 19% Margin (%) 26% 24% 23% 90bps 27% 25% 182bps Net profit attributable to equity holders 7,611 1,913 1,529 25% 6,118 5,142 19% 9M 2026 Results Presentation I 24
Page 25
9M 2026 GROUP FINANCIAL HIGHLIGHTS (2/2) 8,576 11,200 14,161 22,998 33,818 FY 21 FY 22 FY 23 FY 24 FY 25 Revenue (AED mn) 2,333 3,144 4,416 6,504 8,834 FY21 FY22 FY23 FY24 FY25 Net profit after tax (AED mn) 2,801 3,684 5,113 7,709 11,230 FY 21 FY 22 FY 23 FY 24 FY 25 EBITDA (AED mn) 7,792 9,360 9M 25 9M 26 23,553 26,188 9M 25 9M 26 +11% 5,966 7,111 9M 25 9M 26 +20% +19% 2,333 2,822 4,455 6,813 9,858 FY 21 FY 22 FY 23 FY 24 FY 25 Adjusted EBITDA (AED mn) 7,194 8,718 9M 25 9M 26 +21% 9M 2026 Results Presentation I 25
Page 26
1 Gross debt, includes AED 12.5bn of Subordinated Hybrid notes issued in 2025 and 2026 by Aldar Properties PJSC 2 Excludes Hybrid Notes 3 Escrow balances for all projects with over 20% progress are unrestricted & reclassified as available cash. Escrow balances for projects with less than 20% progress are also classified as available cash when approval is obtained from relevant authority. Total escrow balance is AED 20.4bn 9M 2026 GROUP BALANCE SHEET Strong balance sheet position supported by prudent capital management and robust governance Leverage Aldar Development Outstanding Debt1 (30 Sept 26) ▪ Sukuk: AED 8.1bn ▪ Others: AED 11.3bn ▪ UAE : AED 11.4bn ▪ SODIC: AED 0.8bn ▪ UK: AED 2.2bn 32% 20% excluding subordinated hybrids 20% 13% excluding subordinated hybrids LTV1 (30 Sept 26) Cost of debt 5.8% Avg. maturity2 4.2 years <40% <25% Leverage Policy Liquidity AED 38.2bn total liquidity: ▪ AED 18.3bn free & unrestricted cash3 ▪ AED 19.9bn committed undrawn bank facilities Aldar Investment Properties (AIP) ▪ Credit Rating Baa1 stable (Moody’s) ▪ Issuer of: ✓ USD 0.5bn of Sukuks maturing in 2029 ✓ USD 1.8bn Green Sukuks maturing in 2033, 2034, and 2035 ▪ No cross guarantees between Aldar Properties and AIP Aldar Investment Fixed vs Floating 16% : 84% Aldar Properties ▪ Credit Rating Baa2 stable (Moody’s) ▪ Issuer of: ✓ USD 2.0 bn 30.25NC7.25 Public Subordinated Hybrids ✓ USD 1.5 bn 30.25NC10.25 Privately Placed Subordinated Hybrid Notes Balance Sheet (AED mn) 30 Sept 2026 31 Dec 2025 Property, plant and equipment 7,233 7,024 Investment properties 42,330 35,227 LHFS, DWIP & inventories 26,617 19,016 Investment in associates & JVs 163 147 Receivables & other assets 32,114 26,825 Cash 23,213 21,335 Total Assets 131,671 109,574 Equity 45,110 40,747 Hybrid Equity Instrument - 1,816 Non-Controlling Interests 10,626 6,189 Debt 33,916 25,187 Payables, advances & other liabilities 42,020 35,635 Total Equity & Liabilities 131,671 109,574 9M 2026 Results Presentation I 26
Page 27
6 7 9 10 11 11 14 14.5 14.5 15 16 17 18.5 20.5 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Dividends (AED ) TRANSPARENT DIVIDEND AND LEVERAGE POLICIES Consistently applied dividend and leverage policies demonstrate strong governance and financial discipline Shareholder Returns • 1yr & 5yr TSRs of 16% and 222%, respectively1 • Total payout of AED 1.61 billion in 2025 • 10% CAGR dividend growth between 2012 and 2025 Dividend Policy Aldar Investment + Aldar Development Pay-out factor Distributable FCF Realized profit Range 65-80% 20-40% Methodology / Key drivers Net operating income Less: Interest expense, Maintenance capex, Overheads Upon completion and handover of developments 1 Total return based on 1yr & 5yr holding period ending 31 Dec 2025 9M 2026 Results Presentation I 27
Page 28
9M 2026 Investor Presentation ALDAR DEVELOPMENT October 2026
Page 29
* Revenue on Land Sales: ~AED 510mn (2022); ~AED 720mn (2023); AED ~270mn(2024); AED 65mn (2025); AED 238mn (9M 2026) ALDAR DEVELOPMENT 9M 2026 FINANCIAL PERFORMANCE AED mn Q3 26 Q3 25 YoY 9M 26 9M 25 YoY Group Sales 6,756 10,183 -34% 18,855 28,532 -34% UAE 4,979 9,055 -45% 14,410 26,506 -46% International 1,778 1,128 58% 4,445 2,026 119% Egypt 1,551 970 60% 3,000 1,505 99% UK 226 159 43% 1,444 521 177% Revenue 6,990 5,818 20% 19,424 17,105 14% Property Dev. & Sales* 5,377 3,978 35% 15,413 12,956 19% Project Mgmt. Services 889 987 -10% 2,363 2,294 3% International 724 853 -15% 1,648 1,855 -11% Egypt 313 419 -25% 670 711 -6% UK 411 434 -5% 978 1,144 -15% Gross Profit 2,305 1,913 20% 6,596 5,508 20% Margin (%) 33% 33% 9bps 34% 32% 175bps EBITDA 2,134 1,735 23% 6,119 5,042 21% Margin (%) 31% 30% 70bps 32% 29% 202bps Property Dev. & Sales 1,916 1,345 42% 5,571 4,261 31% Project Mgmt. Services 254 300 -15% 598 584 2% International (36) 90 -140% (50) 197 -125% Egypt 3 83 -97% (36) 152 -124% UK (39) 7 -651% (14) 45 -130% Adj. EBITDA 2,134 1,735 23% 6,119 5,042 21% Margin (%) 31% 30% 70bps 32% 29% 202bps 9M 2026 FY 2025 Group Backlog 71,565 71,719 UAE (Avg duration 28 months) 59,311 61,009 International 12,254 10,711 Egypt (Avg duration 30 months) 9,452 8,204 UK (Avg duration 32 months) 2,803 2,507 AED mn Q3 26 Q3 25 YoY 9M 26 9M 25 YoY Gross Profit 2,305 1,913 20% 6,596 5,508 20% Margin (%) 33% 33% 9bps 34% 32% 175bps Property Dev. & Sales 2,017 1,477 37% 5,869 4,571 28% 38% 37% 38bps 38% 35% 280bps Project Mgmt. Services 269 314 -14% 649 631 3% 30% 32% -159bps 27% 28% -5bps International 19 122 -84% 77 306 -75% 3% 14% -1,168bps 5% 16% -1,181bps Egypt 37 89 -59% 21 204 -90% 12% 21% -948bps 3% 29% -2,558bps UK (18) 33 -154% 56 102 -45% -4% 8% -1,194bps 6% 9% -315bps Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 29
Page 30
Landbank1 72.1mn sqm ▪ Large & highly accretive landbank ▪ Monetised through destination master planning/development & ongoing investment UAE LANDBANK OVERVIEW (1/2) Landbank is spread across key investment zones in Abu Dhabi, Dubai and Ras Al Khaimah Destinations Saadiyat Island Land Area 5.6mn sqm GFA 3.3mn sqm Yas Island Land Area 5.4mn sqm GFA 2.2mn sqm Fahid Island Land Area 2.4mn sqm GFA 1.2mn sqm Mina Zayed Land Area 2.6mn sqm GFA 1.5mn sqm Seih Al Sedeirah Land Area 51.4mn sqm GFA 1.1mn sqm4 Other Land Area 0.6mn sqm GFA 0.4mn sqm Locations Abu Dhabi2 Land Area 68.0mn sqm GFA 9.7mn sqm3 1 Owned and controlled land 2 Excludes any landbank from recent Mubadala JVs 3 GFA has not been assigned to all landbank 4 GFA assigned only to Al Ghadeer Dubai Land Area 4.1mn sqm GFA 2.2mn sqm Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 30
Page 31
UAE LANDBANK OVERVIEW (2/2) 1 GFA has not been assigned to all landbank 2 GFA assigned only to Al Ghadeer Abu Dhabi Land bank area: 68.0mn sqm Gross Floor Area (GFA): 9.7mn sqm1 MINA ZAYED Landbank area: 2.6mn sqm GFA: 1.5mn sqm SAADIYAT ISLAND Landbank area: 5.6mn GFA: 3.3mn sqm FAHID ISLAND Landbank area: 2.4mn sqm GFA: 1.2mn sqm YAS ISLAND Landbank area: 5.4mn sqm GFA: 2.2mn sqm SHAMS Landbank area: 0.1mn sqm GFA: 0.3mn sqm SEIH AL SEDEIRAH Landbank area: 51.4mn sqm GFA: 1.1mn sqm2 AL REEMAN Dubai Ras Al Khaima United Arab Emirates DUBAI Landbank area: 4.1mn sqm GFA: 2.2mn sqm Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 31
Page 32
UAE DEVELOPMENT HIGHLIGHTS 9M 2026 Highlights & 2026-2028 Handover Schedule • 9M 2026 Revenue Backlog: AED 59.3bn • 9M 2026 sales: AED 14.4 bn • 9M 2026 units sold: 3,602 units • 9M 2026 launches: 12 • 9M 2026 units handed over: 1,911 • Total units under development: 27,091 • 2026 expected handover: 2,642 • 2027 expected handover: 4,205 • 2028 expected handover: 6,041 2025 2026 Total units under development 2025 2026 2027 2028 % of total sales Sales (AED bn) % of total sales Units Handover Schedule (units) Total 14.4 100% 3,602 27,091 856 2,642 4,205 6,041 Abu Dhabi 71% 12.91 89% 3,161 18,772 856 2,642 4,091 3,270 Fahid Island 32% 1.0 8% 120 1,827 - - - - Fahid Beach Terraces 0.6 63 The Beach House Fahid 0.2 50 Fahid Beach Residences 0.2 7 Saadiyat Island 35% 4.2 33% 546 6,562 20 68 1,691 1,655 The Row Saadiyat 2.4 350 Mandarin Oriental Residences 0.8 45 Sei Saadiyat 2 0.5 124 Other projects 0.5 27 Yas Island 32% 5.1 40% 1,567 7,862 787 1,294 1,515 1,615 The Canopies 2 1.6 543 Yas Park Place 2 1.5 697 Al Kaser II 1.0 8 Yas Acres The Orchids 2 0.6 146 Other projects 0.5 173 Seih Al Sedeirah 2.3 18% 897 1,070 - - - - Al Ghadeer Gardens I 2 1.1 432 Al Ghadeer Parks 2 0.4 171 Al Ghadeer Gardens II 2 0.8 294 Abu Dhabi Other 1% 0.2 2% 31 1,451 49 1,280 885 - Dubai 25% 1.5 11% 435 6,321 - - 114 1,772 Rise by Athlon 0.4 180 The Wilds Residences 2 0.5 195 The Wilds 0.4 31 Other projects 0.2 29 Ras Al Khaimah 4% 0.04 0.3% 6 1,998 - - - 999 Al Marjan 0.04 6 1 Includes Land Sale 2 2026 Launches Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 32
Page 33
1 Unsold inventory on handed over projects represent an additional c. AED 71.4mn in future revenue 2 Average price is based on sales orders booked as of 30 September 2026 3 Captured under PMS (Aldar Projects) backlog 4 Not part of any investment zones in Abu Dhabi, Dubai and Ras Al Khaimah UAE DEVELOPMENT PROJECTS PIPELINE (1/2) Live Projects as at 30 September 20261 94% of launched projects pipeline sold and 89% of backlog awarded Launch Year Project Location Total Units Launched Units Sold Units % sold Net Sales value (AED mn) NSA (sqm) Avg sale price per sqm2 (AED) Revenue Backlog (AED mn) % completion Completion date Cash to be collected (AED mn) 2022 Grove Heart Saadiyat Island 612 612 613 100% 1,119 51,026 21,892 21 99% 2026 489 Louvre Residences Saadiyat Island 421 421 421 100% 1,499 49,270 30,419 125 93% 2026 809 Yas Park Gate Yas Island 508 508 508 100% 1,223 84,258 14,518 24 99% 2026 685 Yas Park Views Yas Island 341 341 341 100% 1,325 86,884 15,245 23 100% 2026 777 Saadiyat Lagoons Saadiyat Island 1,549 1,549 1,549 100% 12,749 790,335 16,131 2,483 82% 2027 7,658 2023 The Sustainable City Yas Island Yas Island 864 864 864 100% 1,961 159,050 12,332 40 99% 2026 1,241 Manarat Living Saadiyat Island 273 273 273 100% 384 19,197 19,989 60 85% 2026 211 Fay Al Reeman II Al Shamka 557 557 555 100% 2,207 244,642 9,048 232 91% 2027 1,361 The Source Saadiyat Island 204 204 204 100% 1,233 35,579 34,669 476 63% 2027 536 Al Reeman Living - Phase 2 Al Shamka 420 420 420 100% 295 22,174 13,313 11 97% 2026 162 The Source II Saadiyat Island 148 148 148 100% 1,086 28,145 38,580 500 54% 2027 568 Gardenia Bay Yas Island 2,434 2,434 2,433 100% 4,141 212,681 19,483 3,019 28% 2028 2,798 Haven by Aldar Dubai 1,228 1,228 1,227 100% 5,040 357,906 14,116 2,027 64% 2028 2,864 Al Marjan Ras Al Khaimah 1,998 1,998 1,958 98% 5,613 248,156 23,935 3,511 40% 2028 4,043 Nobu Residences Abu Dhabi Saadiyat Island 88 88 86 98% 1,744 24,237 80,426 765 60% 2027 688 2024 Manarat Living II Saadiyat Island 232 232 232 100% 425 19,559 21,712 148 67% 2027 184 Sama Yas Yas Island 249 249 232 93% 959 43,785 24,506 315 72% 2028 659 Nouran Living Saadiyat Island 372 372 372 100% 661 29,867 22,134 537 19% 2028 354 The Source Terraces Saadiyat Island 58 58 57 98% 520 12,594 43,288 249 57% 2028 293 Athlon by Aldar Dubai 1,492 1,492 1,464 98% 6,824 456,529 16,045 4,524 36% 2028 4,286 Verdes by Haven Dubai 1,047 1,047 1,020 97% 1,803 127,639 14,796 1,129 39% 2028 1,104 The Arthouse Saadiyat Island 281 281 279 99% 2,071 52,020 41,877 1,738 17% 2028 1,413 Yas Riva Yas Island 151 151 150 99% 1,691 85,209 19,974 1,090 38% 2028 1,172 Mamsha Palm Saadiyat Island 44 44 41 93% 311 9,488 41,261 235 25% 2028 212 Faya Al Saadiyat Saadiyat Island 21 21 20 95% 2,166 45,540 53,597 1,601 26% 2028 1,278 Mandarin Oriental Residences Saadiyat Island 226 226 220 97% 3,263 47,200 76,528 2,544 24% 2029 2,318 Mamsha Garden Saadiyat Island 493 493 489 99% 3,564 96,012 37,468 2,684 21% 2029 2,548 2025 Manarat Living III Saadiyat Island 400 400 400 100% 940 36,002 26,100 752 21% 2028 657 The Wilds Dubai 941 941 911 97% 6,479 369,594 20,260 5,269 25% 2029 4,662 Waldorf Astoria Residences Yas Yas Island 133 133 130 98% 968 29,233 34,929 727 26% 2029 742 Fahid Beach Residences Fahid Island 464 464 444 96% 3,143 83,791 41,667 2,444 23% 2029 2,418 The Beach House Fahid Fahid Island 862 862 792 92% 2,886 94,129 35,113 2,361 18% 2029 2,320 Fahid Beach Terraces Fahid Island 501 501 418 83% 3,100 97,106 42,251 2,674 14% 2029 2,627 Rise By Athlon Dubai 1,243 1,243 883 71% 1,814 152,181 17,432 1,807 0% 2030 1,485 Al Deem Townhomes Other4 474 474 473 100% 1,994 154,663 12,921 NA3 43% 2028 1,544 Yas Living Yas Island 678 678 677 100% 1,365 55,222 24,783 1,258 8% 2028 1,202 The Row Saadiyat Saadiyat Island 717 717 616 86% 3,823 115,040 41,862 3,549 7% 2030 3,389 Yas Riva Residences Yas Island 950 950 948 100% 2,355 87,511 26,989 2,192 7% 2029 2,024 2026 The Wilds Residences Dubai 740 370 195 53% 467 92,345 17,823 424 0% 2030 408 Baccarat Residences Saadiyat Saadiyat Island 77 77 12 16% 292 36,315 96,402 292 0% 2029 230 AlKaser II (land plot) Yas Island 8 8 8 100% 950 44,943 21,139 331 65% 2027 791 Yas Park Place Yas Island 780 780 697 89% 1,527 68,380 27,443 1,402 8% 2029 1,419 Al Ghadeer Gardens I Seih Al Sedeirah 437 437 432 99% 1,131 72,846 15,726 1,120 0% 2030 1,023 Yas Acres - The Orchids Yas Island 217 174 146 84% 571 38,501 26,018 206 0% 2030 550 Al Ghadeer Gardens II Seih Al Sedeirah 391 353 294 83% 765 62,593 16,545 498 0% 2030 727 The Canopies Yas Island 592 592 543 92% 1,590 58,719 31,289 1,499 0% 2030 1,506 Sei Saadiyat Saadiyat Island 513 346 124 36% 510 48,287 42,486 269 0% 2030 481 Al Ghadeer Parks Seih Al Sedeirah 319 280 171 61% 424 46,597 16,701 125 0% 2030 407 27,748 27,091 25,490 94% 102,972 59,311 71,323 Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 33
Page 34
UAE DEVELOPMENT PROJECTS PIPELINE (2/2) Projects under construction, as at 30 September 2026 100% Owned JV1 Projects under Construction Abu Dhabi Ras Al Khaimah Dubai Sustainability City Yas island, Abu Dhabi Total Yas Island Saadiyat Island Fahid Island Other Total GDV (AED bn) 22.6 50.8 10.8 7.7 6.0 26.4 2.0 126.22 Launched Units 6,998 6,562 1,827 2,521 1,998 6,321 864 27,091 Net Sales Value (AED bn) 18.7 38.4 9.1 6.8 5.6 22.4 2.0 103.0 % Units Sold 97% 94% 91% 93% 98% 90% 100% 94% % Value Sold 83% 76% 85% 89% 93% 85% 100% 82% % Cash Collected of Sold Value 23% 37% 19% 23% 28% 34% 37% 31%3 % Cash to be Collected of Sold Value 77% 63% 81% 77% 72% 66% 63% 69% Revenue Backlog (AED bn) 12.1 19.0 7.5 2.0 3.5 15.2 0.04 59.3 Remaining Landbank Area (mn sqm) 5.4 5.6 2.4 51.4 - 4.1 - 68.94 Remaining GFA (mn sqm) 2.2 3.3 1.2 1.1 - 2.2 - 10.05 1 JV’s metrics are presented on a 100% project basis and do not reflect Aldar's ownership share 2 Total GDV of launched projects 3 % cash collected on Completed Projects: 93%; Total % cash collected: 35% 4 Landbank excludes Shams, Mina Zayed and Other, total landbank 72.1 mn sqm 5 GFA excludes Shams, Mina Zayed and Other, total GFA 11.9 mn sqm Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 34
Page 35
UAE DEVELOPMENT– ABU DHABI (1/3) Yas Island in Abu Dhabi Project Year Units Launched Units Sold % Sold Average AED/sqm Total Sales (AED bn) Yas Park Gate 2022 508 508 100% 14,518 1.2 Yas Park Views 2022 341 341 100% 15,245 1.3 The Sustainability City 2023 864 864 100% 12,332 2.0 Gardenia Bay 2023 2,434 2,433 100% 19,483 4.1 Sama Yas 2024 249 232 93% 24,506 1.0 Yas Riva 2024 151 150 99% 19,974 1.7 Waldorf Astoria 2025 133 130 98% 34,929 1.0 Yas Living 2025 678 677 100% 24,783 1.3 Yas Riva Residences 2025 950 948 100% 26,989 2.3 Al Kaser II (land plot) 2026 8 8 100% 21,139 1.0 Yas Park Place 2026 780 697 89% 27,443 1.5 Yas Acres The Orchids 2026 174 146 84% 26,018 0.6 The Canopies 2026 592 543 92% 31,289 1.6 Total 7,862 7,677 98% 20.6 Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 35
Page 36
UAE DEVELOPMENT– ABU DHABI (2/3) Saadiyat Island in Abu Dhabi Project Year Units Launched Units Sold % Sold Average AED/sqm Total Sales (AED bn) Grove Heart 2022 612 613 100% 21,892 1.1 Louver Residence 2022 421 421 100% 30,419 1.5 Saadiyat Lagoons 2022 1,549 1,549 100% 16,131 12.7 Manarat Living 2023 273 273 100% 19,989 0.4 The Source 2023 204 204 100% 34,669 1.2 The Source II 2023 148 148 100% 38,580 1.1 Nobu Residences 2023 88 86 98% 80,426 1.7 Manarat Living II 2024 232 232 100% 21,712 0.4 Nouran Living 2024 372 372 100% 22,134 0.7 The Source Terraces 2024 58 57 98% 43,288 0.5 The Arthouse 2024 281 279 99% 41,877 2.1 Mamasha Palm 2024 44 41 93% 41,261 0.3 Faya Al Saadiyat 2024 21 20 95% 53,597 2.2 Mandarin Oriental 2024 226 220 97% 76,528 3.3 Mamsha Garden 2024 493 489 99% 37,468 3.6 Manarat Living III 2025 400 400 100% 26,100 0.9 The Row Saadiyat 2025 717 616 86% 41,862 3.8 Baccarat Residences 2026 77 12 16% 96,402 0.3 Sei Saadiyat 2026 346 124 36% 42,486 0.5 Total 6,562 6,156 94% 38.4 Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 36
Page 37
UAE DEVELOPMENT– ABU DHABI (3/3) Fahid Island Acquisition in Abu Dhabi ▪ The island acquired in January 2023 ▪ Land value of AED 2.5bn paid over 5 years ▪ 3.4mn sqm island between Yas Island and Saadiyat Island • o/w total land development: 2.5mn sqm ▪ Introduction of unique beachfront offering in Abu Dhabi ▪ AED 40bn+ gross development value (GDV) ▪ 6,000+ residential units and leisure, retail, education & hospitality facilities Project Year Units Launched Units Sold % Sold Average AED/sqm Total Sales (AED bn) Fahid Beach Residences 2025 464 444 96% 41,667 3.1 The Beach House Fahid 2025 862 792 92% 35,113 2.9 Fahid Beach Terraces 2025 501 418 83% 42,251 3.1 Total 2025 1,827 1,654 91% 9.1 Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 37
Page 38
UAE DEVELOPMENT– RAS AL KHAIMAH Project Year Units Launched Units Sold % Sold Average AED/sqm Total Sales (AED bn) Al Marjan 2023 1,998 1,958 98% 23,935 5.6 Total Al Marjan Island 2023 1,998 1,958 98% 5.6 Al Marjan Island ▪ Nikki Beach Residences − Partnership between Aldar & Nikki Beach Group − 3 branded residential buildings ▪ Rosso Bay Residences − 3 residential buildings ▪ Between Rixos Bab Al Bahr & DoubleTree by Hilton Resort (both acquired in 2022) Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 38
Page 39
UAE DEVELOPMENT- DUBAI JV with Dubai Holding, Dubai ▪ February 2023, JV established − 3 communities across 3.5mn sqm of land along E311 & E611 corridors − Haven, Athlon and The Wilds − ~6,700 residential units with a GDV of AED 25bn+ ▪ February 2026, expansion of JV − 2 additional land plots across ~4mn sqm: 1) opposite Nad Al Sheba (Greenwood) 2) Palm Jebel Ali − ~14,000 residential units with a GDV of AED 38bn Project Year Units Launched Units Sold % Sold Average AED/sqm Total Sales (AED bn) Haven by Aldar 2023 1,228 1,227 100% 14,116 5.0 Vardes by Haven 2024 1,047 1,020 97% 14,796 1.8 Athlon 2024 1,492 1,464 98% 16,045 6.8 Rise by Athlon 2025 1,243 883 71% 17,432 1.8 The Wilds 2025 941 911 97% 20,260 6.5 The Wilds Residence 2026 370 195 53% 17,823 0.5 Total 6,321 5,700 90% 22.4 THE WILDS ATHLON HAVEN PALM JEBEL ALI GREENWOOD Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 39
Page 40
1 Aldar Projects is the primary business within Aldar Development’s Project Management Services segment and is mainly managing projects on behalf of the Government of Abu Dhabi ALDAR PROJECTS1 Aldar Projects backlog of AED 78.0bn Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 40 54 72 50 88 88 50 86 86 57 82 53 77 77 64 92 92 67 89 89 62 83 83 60 22 (4) 19 41 (3) 0.3 39 (3) 0.3 29 (4) 0.3 29 (5) 18 31 (3) 0 25 (3) 1 25 (4) (6) 18 76 91 89 86 82 95 92 87 78 30-Sep-24 Work completed New Awards 31-Dec-24 Work completed New Awards 31-Mar-25 Work completed New Awards 30-Jun-25 Work completed New Awards 30-Sep-25 Work completed New Awards 31-Dec-25 Work completed New Awards 31-Mar-26 Work completed New Awards 30-Jun-26 Work completed New Awards 30-Sep-26 Project Management Backlog Progression (AED bn) Under Construction Approved Projects in Design
Page 41
2,022 (506)2 9M 25 9M 26 EGYPT – SODIC1 Land Area 25.0mn sqm; BUA 9.1mn sqm; GDV EGP 1.4bn 1 SODIC owned in consortium with ADQ. Consortium owns 85.5% of SODIC (Aldar share of 59.9%) 2 SODIC EBITDA is positive standalone; negative at Aldar Properties Group level due to one-off, non-cash PPA unwinding 7,648 9,893 8,648 19,584 FY 22 FY 23 FY 24 FY 25 Revenue (EGP mn) 19,617 42,433 9M 25 9M 26 +116% 9,529 9,277 9M 25 9M 26 20,971 29,808 48,987 44,500 FY 22 FY 23 FY 24 FY 25 Sales (EGP mn) 1,913 2,436 3,681 FY 23 FY 24 FY 25 EBITDA (EGP mn) -3% -125% Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 41 1.7 2.9 2.0 1.2 1.7 1.5 FY 21 FY 22 FY 23 FY 24 FY 25 9M 26 Units sold
Page 42
UK - LONDON SQUARE ( 1/4) - OVERVIEW Premier and leading residential developer in the UK GBP/AED: 4.67 at 30.11.2023 Premier and leading residential developer in the UK ▪ Established in 2010, London Square (LSQ) is a leading multi-tenure developer operating in Greater London. ▪ Renowned for creating high-quality residential developments ranging from luxury apartments to single-family houses, with supporting commercial uses. ▪ London Square plays a pivotal role in regenerating the areas and communities it serves through its developments including delivering affordable housing. ▪ Diverse portfolio across Greater London with low/mid-rise apartment and standalone houses across a range of price points on primarily brownfield sites. 100% Acquisition (closing date 30 November 2023) Equity Value AED 560mn (GBP 120mn) Enterprise Value AED 1.07bn (GBP 230mn) EV/TGAV 1.0x Core ‘build-to-sell’, higher margin offering, developing homes across Greater London (and the Southeast) for sale to private individuals. ‘Build-to-rent’ capital light offering, centered on a partnership approach with institutional investors and capital partners for forward-funding. Affordable housing offering, leveraging partnership approach and ability to retain management of completed units (for fees) as a ‘registered provider’. Commercial offering, serves as a key enabler to placemaking – ensuring vibrant mixed-use schemes while also satisfying planning conditions. ‘Partner of choice’ working with central and local government and housing providers to facilitate the delivery of much-needed quality new homes in locations for social rent and affordable tenures. 9M 2026 Land area 572,090 sqm GDV GBP 4,990mn BUA 727,833 sqm Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 42
Page 43
234 198 9M 25 9M 26 UK - LONDON SQUARE ( 2/4) Land Area 0.57mn sqm; BUA 0.73mn sqm; GDV GBP 4,990mn 213 344 FY 24 FY 25 Revenue (GBP mn) 377 331 FY 24 FY 25 Sales (GBP mn) 106 296 9M 25 9M 26 +181% -15% Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 43 1.0 0.5 0.5 FY 24 FY 25 9M 26 Units sold (K)
Page 44
UK - LONDON SQUARE ( 3/4) Total GDV grown to GBP 5.0bn since acquisition 1 2 3 4 5 6 789 10 13 1211 14 15 16 17 18 Wyvil Road, Vauxhall Zone 1 Leegate, Blackheath Zone 3 Richmond College campus, Twickenham Zone 5 Ransome’s Wharf, Battersea Zone 3 Tite Street, Chelsea Zone 1 Wimbledon Bridge House, Wimbledon Zone 3 The Phoenix Academy, White City Zone 2 Lea Bridge, Waltham Forest Zone 3 Westminster Tower, Albert Embankment Zone 1+2 Wilton Park, Beaconsfield Popular commuter town Stratford Cross, Stratford Zone 2+3 Citadel Place, Vauxhall Zone 1 Woolwich Central, Greenwich Zone 4 Royal Street, Waterloo Zone 1 Former Biscuit Factory, Bermondsey Zone 2 Lillie Square, West Brompton Zone 1 Brook Green, Fulham Zone 2 Kennington Stage Zone 1 Surrey County Hall, Kingston upon Thames Zone 5 West Byfleet (commuter belt) Brixton, Lambeth Zone2 Greenwich Zone 2 21 2019 21 10 11 12 13 14 15 16 17 18 19 20 1 2 3 4 5 9 6 7 8 Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 44 22 22
Page 45
UK - LONDON SQUARE ( 4/4) A growing portfolio of 22 sites; bringing total GDV to GBP 5.0bn since acquisition 1. Wyvil Road, Vauxhall (Zone 1) o Redevelopment of existing office & warehouse buildings o Build-to-rent (~320 units) 2. Richmond College campus, Twickenham (Zone 5) o JV with Latimer (Clarion Housing Group) o Demolition of college blocks o Build-to-sell (~210 units) 3. Tite Street, Chelsea (Zone 1) o Redevelopment of existing Care Home building in premium Chelsea location. o Build-to-sell (~70 units) 4. The Phoenix Academy, White City (Zone 2) o Redevelopment of existing school academy o Build-to-sell (~390 units) 5. Westminster Tower, Albert Embankment (Zone 1) o Redevelopment of existing commercial tower in premium Riverside location. o Build-to-sell (~29 units) 6. Stratford Cross, Stratford (Zone 2) o Well-connected development opportunity situated in the Olympic Park totalling 5k sqm o Build-to-rent (~350 units) 7. Woolwich Central, Greenwich (Zone 4) o 2 empty town centre land plots totaling 18k sqm o Build-to-sell (~700 units) 8. Biscuit Factory, Bermondsey (Zone 2) o Redevelopment of former commercial building into 338 social rented dwellings o Build-to-sell (338 units) 9. Brook Green, Hammersmith (Zone 2) o Refurbishment of Victorian former school buildings o Build-to-sell (5 Residential buildings) 10. Surrey County Hall (Zone 5) o Refurbishment of Grade II listed former Surrey County Council HQ o Build-to-sell (292 units) 11. Brixton, Lambeth (Zone 2) o Redevelopment of two sites Pop Brixton and International House into residential dwellings o Build-to-sell (258 residential buildings) 12. Ransomes Wharf (Zone 3) o Redevelopment of commercial buildings into residential dwellings o Build-to-sell (118 residential buildings) 13. Leegate, Blackheath (Zone 3) o Redevelopment of former shopping centre into residential dwellings o Build-to-sell (609 residential dwellings) 14. Wimbledon Bridge House (Zone 3) o PD Redevelopment of existing office o Build-to-sell & Retail (residential, retail, multi story car park ) 15. Lea Bridge (Zone 3) o Redevelopment of brownfield land into affordable homes, a new station plaza & public spaces o Build-to-sell (387 units) 16. Wilton Park, Beaconsfield (popular commuter town) o Creation of a design led housing scheme in highly desirable commuter location o Build-to-sell (194 units) 17. Citadel Place, Vauxhall (Zone 1) o Redevelopment of outdated office buildings into a multi tenure housing scheme o Build-to-sell (520 units) 18. Royal Street, Waterloo (Zone 1) o Residential scheme as part of a wider redevelopment of Guy's & St Thomas' NHS Foundation land into a new Life Sciences innovation district o Build-to-sell (133 units) 19. Lillie Square, West Brompton (Zone 1) o Well-connected central London development opportunity adjacent to the Earls Court regeneration area. o Build-to-sell (c385 units) 20. Kennington Stage (Zone 1) o A mixed use development in a well-established zone one location o Build-to-sell (c126 units) 21. West Byfleet, (commuter belt) o Development management agreement to deliver exclusive collection of homes on a parkland estate for receivers o Build-to-sell (20 units) 22. Greenwich (zone 1) o Redevelopment of brownfield land into affordable homes o Affordable housing (352 units) Aldar Development Property Dev & Sales Project Management Services International 9M 2026 Results Presentation I 45
Page 46
9M 2026 Investor Presentation ALDAR INVESTMENT October 2026
Page 47
1 Excludes Pivot 2 Includes retail, residential, commercial, and industrial & logistics 3 Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments, and one-off gains/losses on acquisitions 4 Gross Asset Value of Aldar Investment Properties assets(retail, residential and commercial, and logistics) excluding UAE IPUD 5 Residential bulk leases as a percentage of total residential units in portfolio 6 Govt./GRE commercial leases as a percentage of occupied GLA ALDAR INVESTMENT 9M 2026 FINANCIAL PERFORMANCE AED mn Q3 26 Q3 25 YoY 9M 26 9M 25 YoY Recurring Revenue1 2,313 1,996 16% 6,527 5,761 13% Investment Properties2 (IP) 964 717 34% 2,698 2,077 30% Hospitality & Leisure 210 219 -4% 688 763 -10% Education 259 257 1% 760 704 8% Aldar Estates 841 758 11% 2,265 2,091 8% Others1 39 45 -12% 117 126 -8% Net Operating Income (NOI)1 1,126 920 22% 3,178 2,687 18% IP NOI2 800 574 40% 2,191 1,667 31% IP NOI Margin (%) 83% 80% 301bps 81% 80% 90bps EBITDA1 997 841 19% 3,478 2,939 18% Margin (%)1 43% 42% 98bps 53% 51% 227bps Investment Properties2 732 569 29% 2,668 2,107 27% Hospitality & Leisure 39 40 -3% 179 211 -15% Education 68 85 -20% 201 212 -5% Aldar Estates 136 121 13% 364 313 16% Others1 22 26 -15% 66 96 -31% Adj. EBITDA1,3 997 788 27% 2,836 2,341 21% Margin (%)1,3 43% 39% 361bps 43% 41% 281bps IP Gross Asset Value (GAV)4 40,166 30,720 31% Residential Bulk Leases5 67% 68% -97bps Govt./GRE Commercial Leases6 28% 29% -115bps AED mn Q3 26 Q3 25 YoY 9M 26 9M 25 YoY Adj. EBITDA1,2,3 997 788 27% 2,836 2,341 21% Investment Properties 732 516 42% 2,026 1,509 34% Margin (%)1,2 76% 72% 388bps 75% 73% 243bps Commercial 289 223 30% 767 643 19% 83% 79% 356bps 81% 79% 183bps Residential 130 127 2% 391 390 0% 69% 70% -14bps 71% 72% -160bps Retail 256 143 79% 719 420 71% 71% 67% 466bps 71% 65% 543bps Logistics 57 32 75% 151 67 126% 84% 87% -250bps 85% 84% 67bps Hospitality & Leisure 39 40 -3% 179 211 -15% 19% 18% 18bps 26% 28% -167bps Education 68 85 -20% 201 212 -5% 26% 33% -673bps 26% 30% -366bps Aldar Estates 136 121 13% 364 313 16% 16% 16% 25bps 16% 15% 110bps 9M 2026 Results Presentation I 47
Page 48
Commercial Residential Retail Industrial & Logistics No. of assets 31 15 354 9 Leasable area (‘000 sqm) 6495 926 627 775 Occupancy 99% 97% 87%3 98% WAULT (yrs) 4.1 3.4 3.5 4.7 9M 2026 Revenue (AEDmn) 950 (+17% YoY) 554 (+3% YoY) 1,016 (+58%YoY) 178 (+124% YoY) 9M 2026 NOI (AEDmn) 798 (+17% YoY) 453 (+1% YoY) 779 (+66% YoY) 160 (+125% YoY) 9M 2026 Adj. EBITDA2 (AEDmn) 767 (+19% YoY) 391 (0% YoY) 719 (+71% YoY) 151 (+126% YoY) GAV (AEDmn) 14,021 6,586 16,140 3,419 Commercial 35%Residential 16% Retail 40% Industrial & Logistics 9% GAV (AED mn) Commercial 36%Residential 21% Retail 36% Industrial & Logistics 7% NOI (AED mn) Commercial 38% Residential 19% Retail 36% Industrial & Logistics 7% Adj. EBITDA (AED mn) INVESTMENT PROPERTIES OVERVIEW1 96% occupancy across the portfolio 9M 26 2,191 9M 26 40,166 9M 26 2,026 1 UAE only (excluding IPUD) 2 Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments and one-off gains/losses on acquisitions 3 90% excluding Saadiyat Grove ; 94% excluding Remal Mall; 97% excluding Saadiyat Grove and Remal Mall 4 Excludes non-core Retail portion of the properties, now reclassified within respective Commercial & Residential assets 5 Net Leasable Area excluding land leases; 858k sqm including land leases Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 48
Page 49
INVESTMENT PROPERTIES - APOLLO TRANSACTION In February 2026, Aldar reinforced its long-term partnership with Apollo through a private placement of USD 1.0 billion in subordinated hybrid notes USD 1.9 BN OF LONG-TERM INVESTMENT 2 Subordinated Dated Hybrid Notes Replaced the USD 500mn land joint venture investment between Aldar Properties PJSC and Apollo with a private placement of same value in subordinated hybrid notes with 10.25 years non-call 3 Equity USD 400mn equity in Aldar Investment Properties (AIP) at NAV. January 2025 August 2022 2026 Subordinated Dated Hybrid Notes The largest corporate hybrid private placement in the MENA region with investment grade credit rating (Baa3 by Moody’s) 2025 Subordinated Dated Hybrid Notes In 2025, one of the largest corporate hybrid private placement in the MENA region with investment grade credit rating (Baa3 by Moody’s) Equity New equity issued at NAV is a testament to the credibility of AIP investment portfolio 1 Subordinated Dated Hybrid Notes Replaced the USD 500mn AIP Perpetual Hybrid investment with a private placement of USD 1.0 bn in subordinated hybrid notes with 10.25 years non-call between Aldar Properties PJSC and Apollo February 2026 Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 49
Page 50
INVESTMENT PROPERTIES (1/4) – COMMERCIAL 20252022-2023 20262024 1 Includes one off gain of AED 56mn in FY 2024 2Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments and one-off gains/losses on acquisitions 3 Includes retail portion of the properties 4 Net Leasable Area excluding land leases; 858k sqm including land leases 2028-2029 AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 780 854 1,103 815 950 17% NOI 634 699 903 680 798 17% Adj. EBITDA1,2 582 700 847 643 767 19% Margin (%) 75% 82% 77% 79% 81% 183bps FY 23 FY 24 FY 25 9M 26 No. of assets 15 14 29 31 Leasable area ('000 sqm) 504 469 582 6494 Occupancy 95% 98% 100% 99% WAULT (yrs) 3.9 3.7 4.1 4.1 GAV (mn) 8,634 9,151 12,114 14,021 H2 2029 Abu Dhabi, Saadiyat Island Saadiyat Business Park – 4 Grade A towers GLA 25k sqm H2 2022 Abu Dhabi, Al Maryah Island ADGM 4 Grade A towers GLA 180k sqm H2 2022 Abu Dhabi, Al Maryah Island AMT 1 Grade A tower GLA 34k sqm H2 2024 Dubai, DIC 6 Falak GLA 9k sqm H1 2028 Abu Dhabi, Al Maryah Island One Maryah Place - 2 Grade A towers GLA 98k sqm D-HoldAcquisition D-Hold Acquisition Acquisition H2 2025 Abu Dhabi, Yas Island Yas Place GLA 24.8k sqm D-Hold H2 2029 Dubai, near DIFC SZR Commercial Tower Grade A tower GLA 88k sqm D-Hold H1 2029 Dubai, DIFC DIFC Tower GLA 49k sqm H2 2029 Dubai, Expo City Expo City GLA ~40k sqm D-Hold D-Hold H1 2025 Abu Dhabi JV with Mubadala -Masdar 9 assets + 5 land leases GLA: 296k sqm3 Acquisition H1 2028 Abu Dhabi, Yas Island Yas Business Park GLA 47.5k sqm D-Hold Key Assets (30 Sept 2026) Occupancy ADGM towers 99% Al Maryah Tower 98% The Link 100% Masdar City Square 99% HQ Building 94% Baniyas 100% International Tower 100% Yas Place 98% 6 Falak 96% H1 2026 Abu Dhabi, Masdar City Masdar The Link– 5 Buildings GLA 24k sqm Acquisition Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 50 H2 2026 Abu Dhabi, Masdar City Masdar City Square 7 Buildings GLA 41k sqm Acquisition
Page 51
INVESTMENT PROPERTIES (2/4) – RESIDENTIAL AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 578 572 726 540 554 3% NOI 472 469 597 449 453 1% Adj. EBITDA2 449 395 510 390 391 0% Margin (%) 78% 69% 70% 72% 71% -160bps FY 23 FY 24 FY 25 9M 26 No. of assets 13 13 15 15 Leasable area ('000 sqm) 826 800 921 926 Occupancy 94% 99% 96% 97% WAULT (yrs) 2.8 2.3 3.6 3.4 GAV (mn) 5,673 5,195 6,674 6,586 Key Assets ( 30 Sept 2026) Occupancy Etihad Residential 100% RAK Accommodation 100% Central Residence 100% The Link 100% The Gate 98% The Bridges 98% Al Rayyana 96% 2025-20262022 20282023 H2 2023 RAK Staff accommodations GLA 16k sqm 2024 Acquisition 2022 169 units sold AED 240mn 2023 123 units sold AED 157mn 2024 249 units sold AED 276mn Strata Sale Program1 1 Sold at 10-15% premium to BV each period 2Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments and one-off gains/losses on acquisitions 3 Includes retail portion of the properties H1 2025 Abu Dhabi JV with Mubadala - Masdar 3 assets – 1,409 units3 GLA : 132k sqm3 Acquisition 2025 60 units sold AED 77mn H1 2028 Abu Dhabi, Al Shamkah Al Reeman Affordable Housing 1,957 units D-Hold H1 2029 Abu Dhabi, MBZ City & Baniyas Affordable Housing 9,486 units D-Hold H1 2028 Dubai, Studio City 312 units D-Hold 2026 4 units sold AED 9mn H1 2026 Abu Dhabi, Masdar City Masdar The Link– 34 units GLA 6k sqm Acquisition H2 2029 Dubai, Expo City Expo City GLA ~22k sqm – 485 units D-Hold 2029 H2 2028 Abu Dhabi, Yas Island Staff Accommodation 448 units D-Hold Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 51 H2 2029 Sharjah, Aljada Residential 1,100 units D-Hold
Page 52
INVESTMENT PROPERTIES (3/4) – RETAIL AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 718 765 881 642 1,016 58% NOI 501 540 624 468 779 66% Adj. EBITDA2 443 485 553 420 719 71% Margin (%) 62% 63% 63% 65% 71% 543bps FY 23 FY 24 FY 25 9M 26 No. of assets 36 36 33 35 Leasable area ('000 sqm) 521 520 537 627 Occupancy 91% 90% 90% 87%1 WAULT (yrs) 3.9 4.0 3.7 3.5 GAV (mn) 9,406 10,522 11,069 16,140 Key Assets ( 30 Sept 2026) Occupancy Yas Mall 96% Galleria Luxury Collection 97% Yas Mall Retail Park 100% Saadiyat Grove 64% (handed-over) 84% (leased) Al Hamra Mall 98% Al Jimi Mall 99% Mamsha 87% 20252022 2027-20292023 20262024 1 90% excluding Saadiyat Grove; 94% excluding Remal Mall 2 Adjusted for fair value movements (excluding amortization of leasehold assets), recognition/reversal of impairments and one-off gains/losses on acquisitions 3 Additional GLA of 26.5k sqm to be added H1 2022 Abu Dhabi, Yas Island Yas Mall GLA 220k sqm – no change (AED 500mn investment) H1 2022 RAK Al Hamra Mall GLA 27.5k sqm Acquisition Redevelopment H2 2025 Abu Dhabi, Al Ain Al Jimi Mall GLA increased to 88k sqm (part of AED 500mn invest. with Al Hamra Mall) Redevelopment H1 2024 RAK Al Hamra Mall GLA 27.5k sqm – no change (part AED 500mn investment with Al Jimi Mall) Redevelopment D-HoldH1 2025 Abu Dhabi, Noya & Yas Golf Collection Community Retail GLA 5k sqm & 1.7k sqm D-Hold H2 2027 Abu Dhabi Lagoons Community retail GLA 12.5k sqm D-Hold H2 2029 Dubai, Expo City Expo City GLA ~24k sqm D-Hold H1 2026 Abu Dhabi, Saadiyat Island Saadiyat Grove GLA 51.5k sqm3 D-Hold H2 2025 Abu Dhabi, Al Maryah Island Galleria Luxury Collection GLA 37k sqm Acquisition Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 52
Page 53
INVESTMENT PROPERTIES (4/4) – INDUSTRIAL & LOGISTICS AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 63 76 122 80 178 124% NOI 55 65 110 71 160 125% Adj. EBITDA 52 61 106 67 151 126% Margin (%) 82% 81% 86% 84% 85% 67bps FY 23 FY 24 FY 25 9M 26 No. of assets 3 3 6 9 Leasable area ('000 sqm) 216 240 525 775 Occupancy 93% 89% 98% 98% WAULT (yrs) 4.6 3.9 5.8 4.7 GAV (mn) 882 938 2,080 3,419 Key Assets ( 30 Sept 2026) Occupancy Al Markaz 99% Kezad – 2 assets 100% Kezad – 3 assets 99% ESF 100% 7 central 100% ADBH - Warehouses 96% ADBH - Offices 85% H1 2026 Dubai, Dubai South Emirates Snack Foods- Grade A build-to-suit GLA 20k sqm 2022-2023 20272024 H2 2023 Dubai, DIP 7 Central GLA 19k sqm 2025 Acquisition D-Hold H1 2027 Dubai, Jebel Ali, NIP Logistics Park – phase 2 GLA 79k sqm D-Hold H2 2024 Abu Dhabi Abu Dhabi Business Hub expansion-phase 4 GLA increased to 190k sqm D-Hold H1 2027 Dubai, DIP 7 Central expansion GLA increase to 36k sqm D-Hold H1 2022 Abu Dhabi Abu Dhabi Business Hub GLA 166k sqm Acquisition H1 2027 Abu Dhabi Abu Dhabi Business Hub expansion- phase 5 GLA increase of 5.5k sqm D-Hold H2 2026 Dubai, Jebel Ali, NIP Logistics Park – phase 1 GLA 67k sqm D-Hold H1 2025 Abu Dhabi Al Markaz GLA 180k sqm Acquisition H2 2027 Abu Dhabi Abu Dhabi Business Hub expansion GLA 166k sqm D-Hold H1 2027 Abu Dhabi, Yas Island Tesla Build-to-Suit GLA 5k sqm D-Hold 2026 H2 2025 Abu Dhabi Kezad – 2 assets GLA 137k sqm Acquisition H1 2026 Abu Dhabi Kezad – 3 assets GLA 163k sqm Acquisition Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 53
Page 54
Golf portfolio features one of the world’s top 50 golf courses (Yas Links) Key assets: ▪ Yas Links Golf Club (leased to operator) ▪ Saadiyat Beach Golf Club ▪ Yas Acres Golf and Country Club Leisure portfolio includes beaches, beach clubs and marina facilities on prime beach front locations. Key assets: ▪ Saadiyat Beach Club ▪ Kai Beach ▪ Mamsha Beach ▪ Marsa al Bateen ▪ Al Bandar Marina HOSPITALITY & LEISURE (1/2) Hotel portfolio consists of assets from 3 to 5 stars, in addition to hotel apartments Key assets: ▪ W Yas Island ▪ Yas Plaza ▪ Yas Plaza Mangroves ▪ Crowne Plaza ▪ Yas Plaza Marina ▪ Yas Plaza Bay ▪ Yas Plaza Circuit ▪ Staybridge ▪ Eastern Mangroves Hotel ▪ Aldhafra Resort ▪ Rixos Bab Al Bahr Resort (RAK) ▪ DoubleTree by Hilton Resort & Spa Al Marjan Island (RAK) GOLF CLUBS LEISURE 5-star 89% 4-star 6% Serviced 5% Hotel Type by Keys HOTELS 9M 26 3,605 Room Rates 64% F&B 27% Other 9% Hotel Revenue (AED mn) 9M 26 603 Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 54
Page 55
HOSPITALITY & LEISURE (2/2) 20252022 20272023 20262024 FY 23 FY 24 FY 25 9M 26 Occupancy 70% 73% 72% 57% ADR (AED) 626 659 735 720 RevPar (AED) 440 478 528 410 Number of Keys 4,226 3,949 3,867 3,605 Hotels 88% Leisure 8% Golf Clubs 4% H&L Revenue (AED mn) 9M 26 688 AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 1,116 1,111 1,203 763 688 -10% NOI 385 384 405 229 195 -15% Adj. EBITDA 383 350 376 211 179 -15% Margin (%) 34% 31% 31% 28% 26% -167bps H2 2027 Abu Dhabi, Saadiyat Island Cultural District Nobu-branded hotel - 126 keys 2022 RAK Rixos Bab Al Bahr Double Tree by Hilton Resort Marjan Island 2022 Abu Dhabi Nurai Island beachfront Resort Acquisition Acquisition D-Hold H2 2026 Abu Dhabi Eastern Mangroves upgrade Transformation H2 2026 Abu Dhabi Yas Plaza transformation into a fully integrated resort under vignette collection by IHG TransformationH1 2025 Abu Dhabi Tilal Liwa repositioned as luxury resort vignette collection by IHG and become Aldhafra Resort Transformation Note: Nurai Island has been moved from D-Hold to D-Sell Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 55
Page 56
ALDAR EDUCATION (1/2) 2nd largest private school operator in the UAE Managed Schools • 14 Managed Schools; Total Capacity: 26k students • 70% capacity utilisation; 18K students • +1% enrolment YoY due to increase in charter schools Operated Schools • 13 Operated Schools; Total Capacity: 25k students • 79% capacity utilisation; 20K students • +10% enrolment growth YoY, driven by: • Organic growth • New greenfield school additions • Majority of schools: Rated Outstanding or Very Good by ADEK • 2025 Greenfields & Brownfields completed: • Yasmina American School – AY25/26 (brownfield – 2,320 students) • Muna British Academy – AY25/26 (greenfield – 2,600) • Upcoming: • Cranleigh Abu Dhabi relocation to a new campus within Saadiyat Island – AY 27/28 (brownfield – 2,970 students) • King’s College School Wimbledon – AY 29/30 (greenfield – 2,218 students) Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 56
Page 57
ALDAR EDUCATION (2/2) Ambitious growth plans - through greenfield, brownfield and acquisitions AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 687 862 956 704 760 8% NOI 291 374 403 304 298 -2% Adj. EBITDA 195 266 274 212 201 -5% Margin (%) 28% 31% 29% 30% 26% -366bps 2022 2023 1 Number of schools at commencement of school year 2024 2025 2028-20302026-2027 1 AY21/22 Abu Dhabi Al Shohub Private School 2023 Dubai Kent College Acquisition 2023 Abu Dhabi Virginia International Private School Acquisition AY2024/2025 Abu Dhabi Yasmina British Academy (phase 2 – full campus) Green FieldAcquisition AY22/23 Abu Dhabi Yasmina British Academy (phase 1) Green Field AY23/24 Abu Dhabi Cranleigh Abu Dhabi: Pre- Prep campus Green Field AY2024/2025 Abu Dhabi Noya British School Green Field AY2025/2026 Abu Dhabi Yasmina American School Brown Field AY2025/2026 Abu Dhabi Muna British Academy Green Field AY2029/2030 Abu Dhabi King’s College School Wimbledon Green FieldAY2026/2027 Dubai Rugby School (rebranding of Kent College) AY2027/2028 Abu Dhabi Cranleigh Abu Dhabi (relocation to a new campus) Brown Field AY2030/2031 Abu Dhabi Al Ghadeer British School Green Field Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 57 10 11 12 13 13 18 19 19 14 14 28 30 31 27 27 AY22/23 AY23/24 AY24/25 AY25/26 AY26/27 Schools1 Operated Managed 11 14 16 18 20 22 22 21 18 18 33 36 37 36 38 AY22/23 AY23/24 AY24/25 AY25/26 AY26/27 Students (k) Operated Managed
Page 58
ALDAR ESTATES1 (1/2) Established in 2023 , Aldar Estates represents series of strategic mergers and acquisitions that led to creation of the region's leading integrated property and facilities management platform 1 Aldar holds 82.55% in Aldar Estates, remaining is held by IHC 2 Following minority shareholding buyout in H1 2025, Aldar Estates now holds 100% in Basatin Landscaping LLC AED 1.3bn Orderbook 9.1K employees Facility Management Property Management & Community Management Integrated Community Services Valuation & Advisory ~ 146k Residential Units 2.5 million sqm Commercial & Retail under management AED 1.6bn Total Orderbook 10.0K employees AED 169.7mn deal pipeline KSA UAE OMAN Egypt Services provided by Geography 2 Aldar Investment Investment Properties Hospitality & Leisure OthersAldar Education Aldar Estates 9M 2026 Results Presentation I 58
Page 59
1 Aldar holds 82.55% in Aldar Estates, remaining is held by IHC 2 Excluding unallocated AED mn FY 23 FY 24 FY 25 9M 25 9M 26 YoY Revenue 1,741 2,622 2,903 2,091 2,265 8% NOI 370 638 661 460 468 2% Adj. EBITDA 199 400 481 313 364 16% Margin (%) 11% 15% 17% 15% 16% 110bps Facility Management 44% Property Management & Community Management 22% Integrated Community Services 31% Valuation & Advisory 3% Revenue (AED mn) ALDAR ESTATES1 (2/2) 2022 2023 2025 202720262024 9M 26 2,3222 H2 2023 Abu Dhabi Eltizam Asset Management Group Merger H2 2022 Abu Dhabi Spark Security & other Acquisition H2 2023 Abu Dhabi FAB Properties Acquisition H1 2023 Abu Dhabi Basatin Landscaping Acquisition H1 2025 Abu Dhabi Basatin Landscaping (buyout of minority shareholding) Acquisition H2 2025 Abu Dhabi Aldar Estates(increased ownership from 65.1% to 82.55%) Acquisition H2 2025 Abu Dhabi Hansa Energy (acquisition of 100% stake) Acquisition Facility Management 31% Property Management & Community Management 46% Integrated Community Services 23% Valuation & Advisory 1% Adj. EBITDA (AED mn) 9M 26 3682 Aldar Investment Investment Properties Hospitality & Leisure OthersAldar Education Aldar Estates 9M 2026 Results Presentation I 59
Page 60
EUROPE - INVESTMENT IN EUROPEAN PRIVATE REAL ESTATE CREDIT Strategic partners form a USD 1 billion private credit platform, which will invest in senior secured debt across diverse real estate segments in the UK and European Union. Confluence of market dynamics, including rising benchmark interest rates, widening credit spreads in the real estate sector Resetting of property valuations have created attractive investment opportunities Banks reducing exposure due to stricter capital and liquidity requirements, the commercial real estate sector is increasingly turning to non-bank providers of credit €390 billion of real estate debt is due to mature in 2024 in the UK and the EU By reaching similar penetration levels to that of the USA, the UK and European alternative lending markets could see market growth of €270 billion and €540 billion respectively, highlighting the scalability of the product Why Private Real Estate Credit Aligns with – and adds weight to – Aldar’s strategy to diversify its operations and exposure into new geographies and real estate asset classes Broadens Aldar focus from the traditional equity investments it is known for in the region, to diversifying its investment portfolio across the capital structure Partnership with leading, experienced and reputable players and an existing platform with strong track record, robust governance policies and processes Leverages Ares’ highly experienced private credit teams – that will handle origination, monitoring and pipeline execution - with over $64 billion invested across real asset strategies and $13 billion in global real estate debt Gain meaningful foothold in a high growth market and the opportunity for Aldar to build skillset, expertise and track record from joint Ares-Mubadala teams ahead of exploring development of a regional Aldar-owned product Strategic Rationale Strategic Partners 20% Stake 50% Stake 30% Stake Platform Summary Security Senior Secured Debt 1st Lien on Real Estate Asset Inv. Mandate Europe & UK Commercial Real Estate Mortgages 11-15% Net IRR Target Returns USD 2,375mn1 Capital Deployment Platform USD 713mn Aldar USD 278mnUSD 887mn1 Committed Equity Funded Equity 1 Unleveraged Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others 9M 2026 Results Presentation I 60
Page 61
9M 2026 Investor Presentation SEGMENTAL BREAKDOWN October 2026
Page 62
SEGMENTAL BREAKDOWN 9M 2026 vs 9M 2025 GROUP ALDAR DEVELOPMENT ALDAR INVESTMENT1 % of Group % of AD % of AI 12,956 2,294 1,855 2,077 763 704 2,091 126 15,413 2,363 1,648 2,698 688 760 2,265 117 59% 9% 6% 10% 3% 3% 9% 0% 79% 12% 8% 41% 11% 12% 35% 2% Property Dev. & Sales Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others 9M 25 9M 26 23,553 26,188 Group Revenue(AED mn) 7,194 8,718 Group Adj. EBITDA (AED mn) 1 Excluding Pivot 9M 2026 Results Presentation I 62 4,261 584 197 1,509 211 212 313 96 5,571 598 -50 2,026 179 201 364 66 67% 5% -1% 21% 3% 2% 3% 1% 93% 7% -1% 70% 11% 7% 10% 2% Property Dev. & Sales Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others 9M 25 9M 26
Page 63
SEGMENTAL BREAKDOWN Q3 2026 vs Q3 2025 8,026 9,345 Group Revenue (AED mn) GROUP ALDAR DEVELOPMENT ALDAR INVESTMENT1 % of Group % of AD % of AI Adj. EBITDA (AED mn) 2,436 3,024 Group 1 Excluding Pivot 9M 2026 Results Presentation I 63 3,978 987 853 717 219 257 758 45 5,377 889 724 964 210 259 841 39 58% 10% 8% 10% 2% 3% 9% 0% 77% 13% 10% 42% 9% 11% 36% 2% Property Dev. & Sales Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others Q3 25 Q3 26 1,345 300 90 516 40 85 121 26 1,916 254 -36 732 39 68 136 22 63% 8% -1% 24% 1% 2% 5% 1% 90% 12% -2% 73% 4% 7% 14% 2% Property Dev. & Sales Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others Q3 25 Q3 26
Page 64
9M 2026 Investor Presentation SUSTAINABILITY Oct 2026
Page 65
Scope 1 emissions are direct emissions from owned or controlled sources Scope 2 emissions are indirect emissions from the generation of purchased energy Scope 3 emissions are all indirect emissions (not included in scope 2) that occur in the value chain of the reporting company, including both upstream and downstream emissions Eight Levers to Decarbonise 9M 2026 Results Presentation I 65
Page 66
9M 2026 Investor Presentation CAPITAL DEPLOYMENT October 2026
Page 67
Transaction Value (AED mn) Commercial : Masdar City Square (JV with Mubadala) 5514 Commercial & Residential: The Link at Masdar City (JV with Mubadala) 3925 Industrial & Logistics: Three additional assets in KEZAD 650 9M 2026 CAPITAL DEPLOYED AED 7.6bn of capital deployed Aldar Development (AED 5,503 mn) Aldar Investment (AED 1.6 bn) Investment Properties Value (AED mn) European Private Real Estate Credit 2 50 Fund Investments (real estate, self-storage facilities - Europe, logistics assets – UK)3 22 1 Staggered multi-year payment plan – first installment of AED 563 in Q1 2026 2 Total committed: AED 2,617mn. Deployed as at 30 Sept 2026 AED 1,022mn 3 Total committed: AED 552mn. Deployed as at 30 Sept 2026 AED 404mn 4 Total value is AED 918mn. Aldar’s share as part of the 60/40 JV with Mubadala is AED 551mn 5 Total value is AED 654mn. Aldar’s share as part of the 60/40 JV with Mubadala is AED 392mn UAE Aldar Properties PJSC(AED 433 mn) Transaction Value (AED mn) Dubai Holding – Land acquisition1 4,700 Land acquisitions, UK 803 International Funds & Investments (AED 72 mn) Value (AED mn) Aldar Investment Properties: Acquisition of 2.1% stake - ownership increased from 88.1% to 90.2% 433 M&A ( AED 2.0bn) International 9M 2026 Results Presentation I 67
Page 68
Transaction Value (AED mn) Commercial: Al Maryah Tower (additional 40% stake) 362 Industrial & Logisitics: Al Markaz (100% stake) 528 Industrial & Logisitics: 2 Grade A assets -Kezad (100% stake) 565 Acquisition of 17.45% stake – ownership increased to 82.55% 722 Buyout of minority shareholding in Basatin Landscaping LLC 58 Acquisition of 100% of Hansa Energy 77 Transaction Value (AED mn) 2025 CAPITAL DEPLOYED c. AED 3.3bn of capital deployed Aldar Development (AED 0.4bn) Aldar Investment (AED 2.3bn) Investment Properties International Land acquisitions, UK 393 Value (AED mn) European Private Real Estate Credit 1 475 Fund Investments (real estate, self-storage facilities - Europe, logistics assets – UK)2 74 1 Total committed: AED 2,617mn. Deployed as at 31 Dec 2025 AED 972mn 2 Total committed: AED 513mn. Deployed as at 31 Dec 2025 AED 382mn International Funds & Investments (AED 0.5bn) Estates M&A ( AED 2.3bn) 9M 2026 Results Presentation I 68
Page 69
Transaction Value (AED mn) Commercial: 6 Falak acquisition 255 Commercial & Residential: Masdar assets (Mubadala JV) 1,1405 Industrial & Logistics: Al Falah Land (Mubadala JV) 906 Transaction Value (AED mn) 2024 CAPITAL DEPLOYED c. AED 3.6bn of capital deployed Aldar Development (c. AED 1.9bn) Aldar Investment (c. AED 1.5bn) Investment Properties International Land acquisitions, UK 1,900 Value (AED mn) European Private Real Estate Credit 1 146 Real Estate Fund 2 2 Portfolio of self-storage facilities, Europe 3 15 Platform holding logistics assets, UK 4 45 1 Total committed in 2023: AED 1,514mn. Deployed as at 31 Dec 2023 AED 351mn. 2 Total committed in 2023: AED 44mn. Deployed as at 31 Dec 2023 AED 32mn 3 Total committed in 2023: AED 168mn. Deployed as at 31 Dec 2023 AED 85mn 4 Total committed in 2023: AED 194mn. Deployed as at 31 Dec 2023 AED 129mn 5 Total value is AED 1,900mn. Aldar’s share as part of the 60/40 JV with Mubadala is AED 1,140mn 6 Total value is AED 150mn. Aldar’s share as part of the 60/40 JV with Mubadala is AED 90mn International Funds & Investments (c. AED 0.2bn) M&A ( AED 1.5bn) 9M 2026 Results Presentation I 69
Page 70
2023 CAPITAL DEPLOYED c. AED 7.8bn of capital deployed Transaction Value (AED mn) Al Fahid land acquisition of 3.4m sqm island between Yas Island & Saadiyat Island 1 2,487 Dubai Holding partnership and land acquisition, Dubai 1 2,098 1 Staggered multi-year payment plan 2 Aldar ownership of 75% in Mustard & Linen 3 Aldar ownership of 60% in JV with Mubadala 4 Aldar ownership of 75% in Basatin Landscaping 5 Total committed in 2023: AED 1,514mn 6 Total committed in 2023: AED 44mn 7 Total committed in 2023: AED 168mn 8 Total committed in 2023: AED 194mn Aldar Development (c. AED 5.9bn) Aldar Investment (c. AED 1.3bn) Investment Properties Education Estates Property Development & Sales International Project Management Services London Square acquisition, UK 1,070 “Springfield” land acquisition, UK 207 Mustard & Linen Interior Design Holdings Limited acquisition 2 25 Transaction Value (AED mn) Residential: RAK Staff Accommodation acquisition, Ras Al Khaimah 80 Industrial & Logistics : 7 Central acquisition, Dubai 92 Al Maryah Island land acquisition, Abu Dhabi 3 98 Al Hamra land acquisition, Ras Al Khaimah 1 212 Kent College acquisition, Dubai 120 Virginia International Private School acquisition, Abu Dhabi 210 Basatin Landscaping acquisition, Abu Dhabi 4 113 FAB Properties acquisition, Abu Dhabi 335 International Funds & Investments (c. AED 0.6bn) Value (AED mn) European Private Real Estate Credit 5 351 Real Estate Fund 6 32 Portfolio of self-storage facilities, Europe 7 85 Platform holding logistics assets, UK 8 129 M&A ( AED 1.3bn) 9M 2026 Results Presentation I 70
Page 71
2022 CAPITAL DEPLOYED c. AED 11.5bn of capital deployed Aldar Development (c. AED 4.1bn) Aldar Investment (c. AED 7.4bn) 1 Acquisition consideration to be paid in-kind as the development progresses, construction started in H2 2022 for a 4-year development period 2 Including multi-story car parks with a total of 5,088 parking spaces 3 Aldar ownership of 60% in Al Maryah Tower 4 Aldar ownership of 70% in ADBH Aldar Investment Properties (AIP) Hospitality & Leisure(H&L) Education Principal Investments Property Development & Sales Transaction Value (AED mn) Acquisition of 6.2m sqm prime land located on the east side of Saadiyat Island 3,6801 Acquisition of land rights adjacent to / in proximity to Nurai Island 350 Acquisition of land adjacent to DoubleTree by Hilton Al Marjan Island (RAK) 95 Transaction Value (AED mn) Commercial 4 Grade-A commercial buildings2 at Abu Dhabi Global Market (ADGM) 4,300 Al Maryah Tower3 270 Retail Al Hamra Mall (RAK) 410 Industrial & Logistics Abu Dhabi Business Hub4 400 Ultra-all-inclusive Rixos Bab Al Bahr beach resort (RAK) 770 Nurai Island Luxury beachfront Resort 250 Luxury DoubleTree by Hilton Al Marjan Island (RAK) 715 Al Shohub Private School 80 Spark Security and Others 178 M&A ( AED 7.4bn) 9M 2026 Results Presentation I 71
Page 72
9M 2026 Investor Presentation DEVELOP-TO-HOLD October 2026
Page 73
H2 2027 Abu Dhabi, Saadiyat Island Cranleigh Abu Dhabi 2,970 students Education AED 21.31 BILLION D-HOLD PIPELINE2 6 new projects (AED 6.6bn) announced YTD 20262025 2027 H1 2025 Abu Dhabi, Yas Island Yas Place GLA 24.8k sqm H1 2025 Abu Dhabi, Yas Island Noya - Community retail GLA 5k sqm H1 2025 Abu Dhabi, Yas Island Yas Golf Collection - Community retail GLA 1.4k sqm H1 2026 Abu Dhabi, Saadiyat Island Saadiyat Grove GLA 51.5k sqm3 H1 2026 Dubai, Dubai South Emirates Snack Foods - Grade A build-to-suit GLA 20k sqm H1 2027 Abu Dhabi Abu Dhabi Business Hub expansion – phase 5 GLA increase of 5.5k sqm H1 2027 Dubai, DIP 7 Central expansion GLA increase to 36k sqm H2 2027 Abu Dhabi, Saadiyat Island Lagoons - Community retail GLA 12.5k sqm H1 2028 Abu Dhabi, Al Maryah Island Financial District One Maryah Place - JV with Mubadala – 2 Grade A towers. GLA 98ksqm H2 2029 Dubai, near DIFC SZR Commercial Tower - Grade A tower GLA 88k sqm H2 2029 Dubai, Expo City5 5 mixed-use buildings GLA 86k sqm H1 2029 Dubai, DIFC DIFC Tower4 GLA 49k sqm Commercial Retail Retail Retail Industrial &Logistics Retail Industrial &Logistics Industrial &Logistics Commercial Commercial Commercial Retail Residential Commercial H2 2026 Dubai, Jebel Ali, NIP Logistics Park – one modular building GLA 67k sqm Industrial &Logistics 1 Excluding completed projects 2 Transacted to Aldar Investment once developed and stabilized (except for Hospitality and Education) 3 Additional GLA of 26.5k sqm to be added 4 To be developed by H&H Development 5 50:50 JV with Expo City Note: Yas Gateway Park , Yas Island – Abu Dhabi has been moved from D-Hold to D-sell H2 2029 Abu Dhabi, Fahid Island King’s College Wimbledon 2,218 students Education H2 2028 Abu Dhabi, Yas Island Staff Accommodation 448 units Residential H2 2027 Abu Dhabi Abu Dhabi Business Hub (expansion) GLA 166k sqm Industrial &Logistics 2029-2030 H1 2027 Dubai, Jebel Ali, NIP Logistics Park – two modular buildings GLA 79k sqm Industrial &Logistics H1 2028 Abu Dhabi, Al Shamkha Al Reeman Affordable Housing 1,957 units Residential H1 2027 Abu Dhabi, Yas Island Tesla Build-to-suit GLA 5k sqm Industrial &Logistics H2 2027 Abu Dhabi, Saadiyat Island Cultural District Nobu Hotel – 126 keys H&L H1 2028 Abu Dhabi, Yas Island Yas Business Park GLA 47.5k sqm Commercial H2 2029 Abu Dhabi, Saadiyat Island Saadiyat Business Park 4 Grade A towers GLA 25k sqm Commercial Announced in 2025 Completed in 2025 H1 2029 Abu Dhabi, MBZ City & Baniyas DMT Value Housing Programme 9,486 units Residential Announced in 2026 H1 2028 Dubai, Studio City 312 units 2028 Residential H2 2030 Abu Dhabi, Al Ghadeer Al Ghadeer British School 2,840 students EducationAY 25/26 Abu Dhabi, Saadiyat Island Muna British Academy 2,600 students Education Completed in 2026 9M 2026 Results Presentation I 73 H2 2029 Sharjah, Aljada Sharjah Residential 1,100 units Residential
Page 74
D-HOLD PIPELINE AS OF 9M 2026 GDV: AED 21.3bn1 Capex: AED 19.6bn (phased over 2024 – 2030+) Segment Project Location Target Completion Aldar Ownership GLA (sqm) GDV 2 (AED mn) Abu Dhabi : 59% Dubai: 36% Sharjah:5% Commercial, 39%4 Yas Place Yas Island Completed 100% 25,000 370 Saadiyat Business Park Saadiyat Island H2 2029 100% 25,000 650 One Maryah Place Al Maryah Island H1 2028 60% 98,000 2,432 SZR Commercial Tower Near to DIFC, Dubai H2 2029 100% 88,000 2,710 Yas Business Park Yas Island H1 2028 100% 47,500 912 DIFC Tower DIFC, Dubai H1 2029 100% 49,000 2,316 Retail, 8%4 Noya Yas Island Completed 100% 5,000 70 Yas Golf Collection Yas Island Completed 100% 1,400 21 Saadiyat Grove Saadiyat Island Completed 100% 51,5003 1,751 Lagoons Saadiyat Island H2 2027 100% 12,500 194 Residential, 28%4 Staff Accommodation Yas Island H2 2028 100% 448 units 195 MBZ City Affordable Housing MBZ city, Abu Dhabi H1 2029 100% 5,466 units 1,102 Baniyas Affordable Housing Baniyas, Abu Dhabi H1 2029 100% 4,020 units 1,739 Al Reeman Affordable Housing Al Shamkha H1 2028 100% 1,957 units 1,150 Studio City Dubai H1 2028 100% 312 units 1,344 Sharjah Residential Aljada, Sharjah H2 2029 100% 1,100 units 1,180 Industrial & Logistics, 7%4 Grade A, BTS facility Dubai South, Dubai Completed 100% 20,000 136 7 Central Expansion Dubai Industrial Park H1 2027 70% 17,000 69 Abu Dhabi Business Hub Expansion (Phase 5) Abu Dhabi mainland H1 2027 70% 5,500 44 Abu Dhabi Business Hub (expansion) Abu Dhabi mainland H2 2027 70% 166,000 866 Tesla BTS Yas Island H1 2027 100% 5,000 68 Jebel Ali, NIP (phase 1 &2) Jebel Ali, Dubai Completed/H1 2027 100% 146,000 573 Mixed Use, 7%4 Expo City Expo City, Dubai H2 2029 50% 86,000 1,750 Education, 9%4 Muna British Academy Saadiyat Island Completed 100% 2,600 Students 398 King's College School Fahid Island H2 2029 100% 2,218 Students 614 Cranleigh Abu Dhabi (relocation to a new campus) Saadiyat Island H2 2027 100% 2,970 Students 810 Al Ghadeer British School Al Ghadeer H2 2030 100% 2,840 Students 381 Hospitality, 2%4 Nobu Hotel Saadiyat Island H2 2027 100% 126 Keys 489 1 Excluding completed projects 2 GDV is based on 100% ownership 3Additional GLA of 26.5k sqm to be added 4 Percentage of total GDV 9M 2026 Results Presentation I 74 2,399 2,113 1,210 1,051 3,844 4,994 3,454 552 Up to 2024 2025 9M 2026 Q4 2026 2027 2028 2029 2030+ D-hold Capex Projections (AED mn) Actual Projection
Page 75
9M 2026 Investor Presentation PARTNERSHIPS & JVS October 2026
Page 76
Year Project Segment Details 2022 4 ADGM Towers Commercial* 100% acquisition 2022 Al Maryah Tower Commercial* 100% Aldar owned (In 2022, initially a JV 60:40 ) 2023 One Maryah Place (2 commercial towers) (D-Hold completion H1 2028) Commercial JV 60:40 2023 Private Credit Platform, Europe & UK Other JV 30:50:20 (Aldar: Mubadala: Ares) 2024 Little Saadiyat development Development JV 60:40 2024 Al Falah Logistics Park Industrial & Logistics JV 60:40 2024 Masdar City: 14 commercial & 3 residential assets Mixed Use* JV 60:40 2026 The Link (5 commercial & residential assets) 2026 Masdar City Square 2025 Al Maryah Island expansion development Development JV 60:40 2025 Premium Retail Platform (Yas Mall & Galleria Luxury Collection) Retail* JV 75:25 MUBADALA PARTNERSHIP & JOINT VENTURES Long-standing strategic partnership; Global Sovereign Investor and Founding Shareholder in Aldar Properties * part of Aldar Investment Properties (90.17% owned by Aldar Properties & 9.83% owned by Apollo) 9M 2026 Results Presentation I 76
Page 77
Year Project Segment Details 2022 Abu Dhabi Business Hub Industrial & Logistics* 70% AIP owned 2022 Diamond Developers (SEE Holdings) The Sustainable City, Yas Island Development JV 50:50 2023 Dubai Holding 3 land plots, Dubai Development JV 51:49 2026 2 land plots, Dubai 2023 Carlyle UK logistics co-investment platform French self-storage co-investment platform Other 2024 Dubai South Grade A logistics facility (D-Hold completion H1 2026) Industrial & Logistics 100% Aldar owned 2024 DP World NIP, Jebel Ali - Grade A logistics park (D-Hold completion H1 2026/H1 2027) Industrial & Logistics 100% Aldar owned 2024 Expo City 8 commercial, residential & retail assets (D-Hold completion H2 2029) Mixed Use JV 50:50 2026 Private Abu Dhabi land plots Development JV 50:50 2026 Arada Co-develop a large-scale mixed-use community Development JV 51:49 OTHER PARTNERSHIPS & JOINT VENTURES * part of Aldar Investment Properties (90.17% owned by Aldar Properties & 9.83% owned by Apollo) 9M 2026 Results Presentation I 77
Page 78
ALDAR INVESTOR PRESENTATION CONTACT US For any further enquiries please contact: Pamela Chahine Head of Investor Relations Email: pchahine@aldar.com Salma Laalej Vice President Email: slaalej@aldar.com
Page 79
This presentation is intended for information purposes only and does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase securities of any kind and neither this document nor anything contained herein shall form the basis of any contract or commitment from any party whatsoever. Information, including but not limited to financial information, in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or any other instruments in or, in entities related to, Aldar or any other company. The distribution of this presentation in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about, and observe, any such restrictions. This presentation includes forward-looking statements. The words "believe", "anticipate", "expect", "intend", "aim", "plan", "predict", "continue", "assume", "positioned", "may", "will", "should", "shall", "risk" and other similar expressions that are predictions of or indicate future events and future trends identify forward-looking statements. These forward-looking statements include all matters that are not historical facts. In particular, the statements regarding strategy and other future events or prospects are forward-looking statements. Recipients of this document should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are in many cases beyond the control of the Company. By their nature, forward-looking statements & projections involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and the Company's actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in this document. The cautionary statements set forth above should be considered in connection with any subsequent written or oral forward-looking statements that the Company, or persons acting on its behalf, may issue. Some information contained in this presentation, including but not limited to information relating to the real estate and financial markets, are compiled from sources known to be reliable and/or publicly available data reasonably assumed to be accurate (the “Source Data”). The Source Data may contain errors and/or inaccuracies; Aldar provides no warranties or guarantees of any kind, expressed or implied, and accepts no responsibility whatsoever, with regard to the accuracy, completeness or correctness of the Source Data used in the Presentation. The information and opinions contained in this presentation are provided for information purposes only and are subject to change, updating, correction, verification and amendment without notice. Neither the Company nor its affiliates, directors or advisors is under any obligation to update or keep current the information or opinions contained herein which are subject to change without notice. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or appropriateness of the information and opinions contained in this presentation. None of the Company or any of its respective affiliates, advisors or representatives, directors, officers, employees, or agents shall have any liability whatsoever for any loss however arising from any use of this presentation or its contents, or otherwise arising in connection with this presentation This disclaimer is to be considered an integral part of the Presentation. DISCLAIMER