United Development Q P S C : Investor Relations Presentation Q3 2023

UNITED

DEVELOPMENT

COMPANY

- Financial Results -

-2023 -

- 30 September 2023 -

OVERVIEW OF UNITED DEVELOPMENT COMPANY

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United Development Company (UDC) is a leading Qatari public shareholding company with a mission to identify and invest in long- term projects contributing to Qatar's growth and providing good shareholder value. Established in 1999, the Company was first listed on the Qatar Exchange in June of 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 20.45 billion on 30th September 2023.

From day one, the Company actively contributed in the development of the State of Qatar, rapidly evolving into a leading Qatari

Public Shareholding Company and has successfully established a group of various good performing investments.

Through a combination of project activities and commercial enterprise, UDC and its subsidiaries have accumulated a large amount of specific experience including detailed knowledge of real-estate development, property management, hospitality and maritime, infrastructure and utilities.

UDC's flagship project is The Pearl-Qatar, an urban mixed-use,man-made island development. Located 350 meters offshore of

Doha's prestigious West Bay District, The Pearl-Qatar is one of the largest real estate developments in the Gulf.

UDC is also developing Gewan Island located adjacent to The Pearl-Qatar Island, into the Company's latest world class residential, commercial, hospitality and entertainment project. This development has the potential of becoming a magnificent destination that will maintain UDC's future growth.

UDC established a business model for synergistic growth, creating and operating a diverse portfolio of substantial related businesses that leverage off one another and generate sustainable earnings.

BOARD OF DIRECTORS

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BOARD OF DIRECTORS CONTD…

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BOARD OF DIRECTORS CONTD…

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• UDC announced the appointment of H.E. Mr. Ahmed Ali Al-Hammadi as the Chairman with effect from 13th of September 2023.
• UDC has been awarded the highest Gold Certification by CSR Accreditation, a leading UK-based organization associated with Buckinghamshire New University that delivers a global standard of social responsibility;
• UDC has also been announced winner of the Communitas Award 2023 - Community Services Excellence Award concurrently with winning the SEAL Environmental Initiatives Award 2023 for the second consecutive year. These awards recognize UDC's dedication to delivering an outstanding customer experience through sophisticated and intelligent methodologies inspired by global best practices in community services along with Company's unwavering commitment to sustainability and the successful implementation of environmental initiatives;
  UDC announced its financial results for the first half of FY 2023, reporting net profit of QR 189 million on revenues of QR 881 million. The net profit attributable to the equity shareholders stood at QR 188 million and basic earnings per share amounting to QR 0.053.

• The Pearl Island's infrastructure update works are progressing in full swing, aiming to enhance the Island's safety, efficiency, and services;
• UDC is striving to further enhance the potential of its varied residential, commercial, and public utility projects on The Pearl Island, mainly United School International, which commenced operation in the academic year 2022-2023 and United Hospital International, which is scheduled to open by the first quarter of the year 2024;
• Company is actively involved in the development of Gewan Island. As of Q3 2023, the Infrastructure Works Package at Gewan Island has made significant strides, including the completion of all dry services, wet services, and pontoon works, which are nearing completion. Paving works have commenced at Island Villas sidewalks.;
• There is also noteworthy progress on the Mixed-Use Building Package. Installation of Crystal Walkway shades have commenced, and the commencement of and softscape elements for the podium, promenade, and road areas is imminent.;

Significant achievements have been made in the development progress for the Gewan Hotel Package;

project development are being executed as planned.

CORPORATE GOVERNANCE

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As part of the compliance requirement of the Corporate Governance code for listed companies issued by Qatar Financial Markets Authority, UDC as a Qatari shareholding company listed on the Qatar Exchange is required to disclose the extent to which it complies with the provisions of the code. UDC applies a proper corporate governance framework and principles essential to assist the company in achieving its goals with a high-performance level in addition to improving its internal and external working environment, protecting stakeholders' interests and distributing roles and responsibilities in an ideal way.

UDC has a well-developed corporate governance system in place and continuously works on maintaining the highest standard and common practice.

BOARD OF DIRECTORS & BOARD COMMITTEES

The Board of Directors is responsible for the stewardship of the Company and for providing effective leadership and supervision of UDC's business, whilst owing value in a profitable and sustainable manner. The roles and responsibilities of the Board are defined in the Board Charter. The Board Charter has been published to the public through the Company's website. The Board's roles and responsibilities are compliant with the requirements of the Governance Code of QFMA.

Board Composition

The Board currently consists of nine members, i.e., 3 non-independent, 3 independent and 3 by appointment. The current term of the Board of Directors started on 09th March 2022 and continues for a period of three years.

Board Committees

Board Committees are established to assist the Board of Directors in conducting their duties. Each committee has developed "Terms of Reference" that define the committee's roles responsibilities in accordance with QFMA regulations and leading governance practices.

CONTROL, COMPLIANCE, RISK MANAGEMENT AND INTERNAL AUDIT

general objective of the internal control's procedures of UDC is to safeguard assets and capital and to ensure the reliability of UDC and its subsidiaries' financial recordkeeping. adopted a process of internal controls that allow Management to detect errors in procedures or financial recordkeeping. UDC's internal control framework includes, risk

internal audit which support in establishing a strong internal control framework.