ADNOC Distribution delivers 21% net profit growth in Q1 2026, reflecting strength and resilience

• The Company generated its highest ever Q1 EBITDA of $307 million (+11.7% YoY) and net profit of $210 million (+20.7% YoY)
• Fuel volumes reached a Q1 record of 3.82 billion liters (+2.4% YoY)
• Non-fuel retail gross profit increased 10% YoY, driven by higher customer footfall, enhanced property management, and convenience store offerings
• The Company added 22 service stations in Q1 and is on track to hit its target of 60-70 new stations in 2026
• Board of Directors approved ADNOC Distribution's first quarterly dividend (5.14 fils per share) to be paid in June 2026

Abu Dhabi, UAE – May 13, 2026: ADNOC Distribution (ISIN: AEA006101017) (ADX: ADNOCDIST), the leading mobility and convenience retailer in the UAE, reported strong financial and operational performance in the first quarter ended 31 March 2026, with record Q1 EBITDA at $307 million (+11.7% year-on-year; YoY) and net profit at $210 million (+20.7% YoY)

Q1 performance was supported by fuel volume growth, stronger commercial business, higher contribution from non-fuel retail (NFR) and international activities, reflecting ADNOC Distribution's structural resilience, driven by its diversification across its three customer locations: the UAE, Saudi Arabia and Egypt. Reflecting sustained investments over time, the company has expanded its business platforms across fuel retail, commercial segments, lubricants, convenience and car services, with retail accounting for 70% of volumes and commercial 30%

Eng. Bader Saeed Al Lamki, Chief Executive Officer of ADNOC Distribution, said: "ADNOC Distribution started 2026 with strong momentum, delivering 21% net profit growth in the first quarter despite the dynamic operating environment. Our expanding network and increasing contribution from the NFR business validate our strategy and reinforce our position as a leading international mobility and convenience retailer. With strong cash generation and a robust balance sheet underpinning our resilience, we are well positioned to deliver sustained value while providing reliable access to energy and customer convenience for daily life and economic activity across the communities we serve. We expect our strong momentum to continue for the remainder of 2026, supported by our diversified business model."

ADNOC Distribution added 22 new service stations in the first quarter, expanding its total network to 1,032 sites, and remains firmly on track to deliver its targeted 60–70 new stations this year. The Company's fuel volumes reached a first-quarter record of 3.82 billion liters (+2.4% YoY).

The NFR business remained a key growth driver in Q1, generating gross profit growth of 10% YoY supported by higher customer footfall, improved conversion rates, enhanced property management and convenience offerings. This performance supports the Company's strategy to accelerate non-fuel growth, targeting a doubling of NFR transactions by 2030 compared to 2023 levels.

As ADNOC Distribution continues to shape its strategy for the future of mobility, the Company unveiled its roadmap this January to electrify eight key UAE highways by the end of 2027, strengthening its efforts to future-proof its growth. This included the inauguration of the region's largest superfast EV charging site, comprising 60 high-speed charging points, on the E11 highway between Abu Dhabi and Dubai.

The Company is also on track to open five additional locations of The Hub by ADNOC in 2026. The Hub by ADNOC offers a retail footprint three times larger than traditional service stations. ADNOC Distribution expects to operate 30 locations of The Hub by ADNOC with an anticipated EBITDA contribution of $30 million by 2030. The Hub by ADNOC strengthens ADNOC Distribution's property management business, which was its fastest‑growing NFR vertical in Q1 driven by strong occupancy, new quick-service restaurant openings including leading international and homegrown brands, and a continued shift towards higher yielding food & beverage and car services properties.

With a continued focus on delivering innovative, customer-centric retail experiences at scale, ADNOC Distribution is also advancing artificial intelligence (AI) innovation. The Company has more than 20 AI-enabled initiatives across its value chain, including fuel demand forecasting, supply chain optimization, and personalized customer engagement through the ADNOC Rewards loyalty program, which expanded to over 2.69 million members (+14.2% YoY) in Q1 2026.

At the Make it in the Emirates Forum 2026, the Company announced the signing of a strategic agreement with DTEK.ai to roll out SWIFT, a pioneering AI-powered self-checkout solution, at Oasis by ADNOC convenience stores across the UAE, expected to reduce average checkout times by over 60%. During the event, ADNOC Distribution also reinforced its commitment to championing local manufacturing, entering agreements to deliver its high-performance, locally made lubrication solutions to Emirates Global Aluminium (EGA) and Borouge.

SHAREHOLDER RETURNS

ADNOC Distribution's Board of Directors approved its first quarterly dividend of 2026, marking the introduction of quarterly distributions, at 5.14 fils per share, to be paid in June 2026. The Company's dividend policy – which was extended through 2030 following shareholder approval at its Annual General Assembly Meeting in March – provides for financial year returns of $700 million per annum or a minimum of 75% of net profit, whichever is higher. The extension offers five-year payback visibility and dividend upside from future earnings growth.

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