Page 17 - DUBAL HOLDING PR REPORT - FEBRUARY 2024

2/26/24, 11:05 AM DUBAL Holding posts strong financial results for 2023; Aluminium Extrusion, Profiles, Price, Scrap, Recycling, Section
Signifying electricity generation through the combustion of municipal solid waste (MSW).
The attainment of the facility's design capacity to process 5,555 tonnes of MSW daily.

The construction project is projected to conclude by July 2024, meeting both the schedule and budgetary constraints.
Ahmad Hamad Bin Fahad, the CEO of DUBAL Holding, commented, "Sohar Titanium, a strategic project in which DH
is a shareholder, made good progress in the year by awarding contracts for civil, structural steel, and high voltage
substations, as well as by signing an offtake agreement for the sale of titanium slag and a feedstock supply
agreement to obtain the necessary raw material, ilmenite ore. The project is expected to energize the first furnace by
March 2025, marking a significant milestone in the company's growth path."

"The acquisition of Thermalex in 2023 made it a particularly noteworthy year for us. Our expansion project at OSE
further increased our capacity to meet the specific needs w.r.t precision extrusions for both new and existing EV
Battery Cooling, Automotive HVAC and other industrial clients. We also increased our ownership position in OSE to
focus on domestic and international acquisitions and help the company achieve its larger goal of ranking among the
top two players globally."

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