Page 8 - DUBAL HOLDING PR REPORT - FEBRUARY 2024

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Press Release

DUBAL Holding announces promising results of 2023 at Annual
General Meeting

Dubai, February 22, 2024: DUBAL Holding LLC (DH), the investment arm of the Dubai

Government in the commodities and mining, power and energy, and industrial sectors, recorded a
net profit of AED 1.79 billion in 2023, representing another year of good performance for the

group. The results were announced at DH 's annual general meeting (AGM), held under the
leadership of its chairman, His Excellency Saeed Mohammed Al Tayer.

Members of the board and management of DH were present at the meeting, along with its auditors

and shareholder representative from Investment Corporation of Dubai (ICD). DH had a remarkable
year due to its international acquisition, new expansion as well as effective operational

performance.

HE Saeed Mohammed Al Tayer, Chairman of DUBAL Holding, said, “We are working
diligently in line with the directives of our wise leadership. With its vision that shapes the future,

we made an early investment in the aluminium industry. This strategic direction contributed to

enhancing the competitiveness of the UAE and Dubai in the global aluminium markets. When
reflecting on the successes of 2023, we are on track to make global investments in a range of
industries to provide growth and long-term financial returns for our shareholder. Our investments

are also driven by a commitment to building a greener future and have supported ambitious and

sustainable initiatives including the Dubai Industrial Strategy 2030 that aims to make Dubai a
preferred manufacturing platform for global businesses, Dubai Economic Agenda (D33), Dubai

Clean Energy Strategy 2050, and Dubai Net-Zero Carbon Emissions Strategy 2050.”