Gulf Navigation : Sustainability Report - 2022

INTEGRATED REPORT 2022

ABOUT GULFNAV

GOING FURTHER FOR YOU MEANS

THE WORLD TO US

• REPUTATION FOR EXCELLENCE

GULFNAV works with some of the world's largest petrochemical companies and independent trading houses. It's a responsibility we take seriously. Putting quality and integrity at the heart of our operation, we're committed to delivering best practice across our fleet, crews and administration hubs.

By adopting progressive business practices and rigorously training staff and crew, we operate in full compliance with IMO and flag-state rules, as well as holding

ISO 9001:2015 certification for quality and safety management.

A MISSION

To be one of the world's most trusted shipping and maritime companies, renowned for safety, integrity, reliability

and sustainability.

A SUSTAINABLE, FORWARD-THINKINGVISION

GULFNAV cares deeply for the environments in which we operate - we understand that, to succeed tomorrow, we need to continually innovate and do what's right. So we're investing heavily in the latest energy-efficient technologies

and hold 14001:2015 certification for environmental management. With a modernized fleet and responsible, long-term outlook, we're navigating a more sustainable path to growth.

A GLOBAL OUTLOOK

Headquartered in Dubai, we have extensive facilities at the ports of Fujairah and Khorfakkan, along

with an overseas office in the Kingdom of Saudi Arabia. Longstanding international partnerships extend our reach

across the world. We're proud to be the only publicly-listed maritime company on the Dubai Financial Market with truly global services.

DOING WHAT'S RIGHT.

Setting ambitious standards for sustainability, workforce well-being, business ethics and transparency. Ensuring equal commitment to our people, the planet and financial performance.

ENSURING STABILITY AND PROGRESS.

Being a responsible partner by relentlessly driving improvement in quality, reliability and value. Providing an environment for employees where they feel safe, supported and encouraged to maximise their potential.

A COMPLETE MARITIME PARTNER

UNLOCKING VALUE THROUGH PARTNERSHIPS.

Harnessing strategic relationships with like-minded, ethical partners to drive innovation, sustainability, safety and revenue.

INTEGRATED REPORT 2022

2022 PERFORMANCE SNAPSHOT

OUR BUSINESS UNITS

DIVERSITY

OF WORKFORCE

11

Nationalities represented

18 %

Women representation in the workforce

SHAREHOLDERS

>11,235

Shareholders

79.4 % 54.5 %

GULFNAV

MARITIME LOGISTICS

DFM COMPLIANCE

DFM:

GULFNAV

0

Fines/penalties during 2022

FINANCIAL HIGHLIGHTS

IN MILLION DIRHAMS

5 m Net profit

137Operating Revenue

792Total Assets

PUSHING BOUNDARIES - 24/7

From our Dubai HQ, our specialist teams coordinate

and manage a first-class fleet of owned and chartered ships, along with agency services to meet your onshore and offshore needs. Their can-do approach, extensive industry relationships and proven commercial expertise ensures a real competitive advantage - with flexible contracts to fit your strategy

and budget.

CORE BUSINESS UNITS

• Oil, Chemical & Product Tankers

GULFNAV operates a state-of-the-fleet of owned

and chartered tanker, managed and maintained to the highest safety and environmental standards. With a highly-trained crew, experienced in operating tankers across the world, you know your company's reputation is in the best possible hands.

• Offshore Logistics

GULFNAV has specialised teams for offshore activities

with the expertise to support owners, investors and operators with the complexities of offshore markets - in oil & gas, as well as renewables such as wind farm installation.

UNCOMPROMISING SAFETY AND PERFORMANCE

Always putting crew and cargo first, our vessels are designed, maintained and repaired according to the highest international standards. Repairs are logged with extensive 3rd party reports, covering everything from engine machinery and safety equipment to ISM documentations and certificates.

GULFNAV Maritime Logistics holds

ISO 9001:2015 accreditation and strives for best practice in operational efficiency across sea and shore. This includes working with the latest intelligent operating systems

and providing you with clear cost data so you can run your business more effectively.

DRIVING A MORE SUSTAINABLE TOMORROW

GULFNAV Maritime Logistics takes bold steps to better protect the ecosystems in which we operate, as well as minimizing the impact of our vessels on the wider environment. We hold 14001:2015 certification for environmental management and invest heavily across our fleets to ensure cleaner, more fuel-efficient performance.

GULFNAV

SHIP MANAGEMENT

INTEGRATED REPORT 2022

GULFNAV AGENCY SERVICES

Since 2009, GULFNAV Ship Management has built a reputation across the Middle East and beyond for knowledge, cost efficiency and full compliance with international standards. This is accompanied by a deep commitment

to promote more sustainable practices and reduce our environmental impact.

ON SHORE. OFF SHORE. ON A MISSION.

We provide a complete range of ship management

and maritime services, including crew management, technical support and consultancy services

AN AGILE PARTNER IN FAST-CHANGING TIMES

Managing ships in today's climate requires expert knowledge of ever-evolving regulations, combined with a wide scope of expertise and experience. GULFNAV Ship Management takes this responsibility seriously to meet the requirements of shipowners, flag states, port states, class societies, charterers and other stakeholders.

Whether it's operating managed vessels efficiently

or protecting crews in full compliance with IMO's International Safety Management Code, we're trusted by industry leaders to stay ahead of changes and deliver tangible value.

WHY CLIENTS CHOOSE GULFNAV

SHIP MANAGEMENT

Our team of experts provides tailored ship management and consultancy services to suit your needs and vessels - from crew operations and asset management to supervision of ship-building projects and pre-purchase technical advice.

COMPLETE TECHNICAL MANAGEMENT

Our unrivalled technical expertise is geared to optimising performance, minimizing downtime and delivering long- term reliability and value. We can provide total drydock solutions and cover technical management for all types of ships, including those transporting crude oil, chemicals and petroleum (IMO).

CREW MANAGEMENT

Our crew is the heart of our business - and vital to yours. That's why we recruit from a global market of seafarers, building skills with continuous training to ensure officers and crew meet our rigorous standards. Regular crew performance reports, long-term rotation planning

and stringent safety checks back up our excellent well-being and performance records.

QUALITY AND ENVIRONMENTAL MANAGEMENT

Our safety and environmental management system ensures vessels are continuously maintained in line with the sector's s most stringent regulatory frameworks. These include International Safety Management (ISM) Law, flag state law, port state monitoring and social classification rules. We are certified in full compliance with ISO 9001:2015 and 14001:2015, and ships are subject to regular independent inspections and auditing.

ASSET MANAGEMENT

We combine industry-leading expertise and advanced processes to provide unrivalled cost-efficiency and asset management. Working with cutting-edge software and systems for shore and ship-based operations, our technical and administrative teams go the extra mile to seek efficiencies and maximize revenue.

Established in 2017 and headquartered in Dubai, with support hubs in Khorfakkan and Fujairah, GULFNAV Agency Services serves terminals and commercial ports across the UAE. Through our network of liaison offices, we also provide cost- effective services throughout the GCC and beyond.

PROFESSIONALISM AND PEACE OF MIND

Our experienced staff ensure detailed knowledge of local and regional markets, including all relevant laws, rules and regulations.

EVERYTHING YOU NEED. FROM SHIP TO PORT.

GULFNAV Agency Services keeps you moving. Our unrivalled expertise and procurement ranges from crew services

and warehousing to IT support, repairs, and customs and agency services.

CARGO VESSEL HANDLING

Whether it's petrochemical tankers or bulk, break

and container vessels, we have you covered with ship-to-ship transfer operations and turnkey cargo handling.

COORDINATION AND SUPPLY SERVICES

We make it happen with top-quality husbandry services, fulfilling crew change, cleaning, servicing, IT and safety equipment requirements. We also take care of the paperwork with streamlined inspection, certificate renewal, visa processing and medical support.

CREW BOATS

GULFNAV owns a modern fleet of four crew vessels, able to carry up to 39 passengers and a 20-ton deck cargo. Put your most valuable personnel and equipment in safe hands with our peerless track record in safety and security.

SHIP REPAIRS

Our 24/7, state-of-the-art workshops and dry docks at the ports of Fujairah and Khorfakkan boast some

of the industry's most skilled Marine Engineers and Master Mariners. Whatever the repair, whether it be mechanical

or structural, we'll have you up and running quickly and cost- effectively, with reliability assured.