Masdar Marks Roadmap to US$3 billion Green Bond Offering at London Stock Exchange

Historic market opening attended by COP28 President-Designate Dr Sultan AlJaber,the founding CEO and now Chairman of Masdar,the UAE's flagship renewable energy company

Green bond is the first part ofMasdar's program to raise debt capital to fund new clean energy projects

In lead-up toUAE hosting COP28,milestone showcases the UAE's commitment to advancing decarbonization and unlocking climate finance around the world

ABU DHABI,UAE,Aug. 7,2023 --Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE).

Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE). The market opening was attended by HE Dr Sultan Al Jaber,UAE Minister of Industry and Advanced Technology,COP28 President-Designate and Chairman of Masdar,HE Dr Thani bin Ahmed Al Zeyoudi,Minister of State for Foreign Trade,Ambassador HE Mansoor Abulhoul,UAE Ambassador to the UK,and Masdar Chief Executive Officer,Mohamed Jameel Al Ramahi.

The market opening was attended by HE Dr Sultan Al Jaber,UAEAmbassador to the UK,and MasdarChief Executive Officer,Mohamed Jameel Al Ramahi.

Masdar completed a US$750 million 10-year green bond offering on the LSE on July 19,2023,which was more than five times oversubscribed with exceptionally strong appetite from regional and international investors.

It marks a historic moment on a remarkable journey for the UAE's flagship renewable energy company since it was established in 2006 under its founding CEO,and now Chairman,Dr Sultan Al Jaber. Dr Sultan Al Jaber has been a pioneer at the forefront of the global renewable energy sector for 17 years.

Under Dr Sultan's leadership,Masdar has developed over 20GW of renewables capacity across more than 40 countries,has invested more than US$30bn,and is targeting a 100GW portfolio by 2030. As the UAE looks ahead to hosting the UN climate change conference,COP28,with Dr Sultan as President-Designate,this milestone showcases the UAE's and Masdar's commitment to advancing decarbonization and climate finance around the world.

HE Dr Sultan Al Jaber,COP28 President-Designate and Chairman of Masdar said,"This is a defining moment for Masdar and climate finance and we are delighted to stand on the world stage at this historic market opening ceremony. The demand for green bonds is extremely high and will enable investment in renewable energy projects,many of which will be in developing economies and climate-vulnerable countries. But there is more to do if we are to unlock finance for the energy transition to support the tripling of global renewable energy capacity by 2030. The successful issuance of Masdar green bonds will support this aim,by helping to provide funding towards renewable energy projects where they are needed most."

Mohamed Jameel Al Ramahi,Masdar's Chief Executive Officer,said,"Today we're proud to celebrate the success of Masdar's debut green bond issuance,a testament to the pioneering spirit of all the people who have worked incredibly hard over the last 17 years to grow Masdar into one of the world's leading renewable energy companies. It follows the publication of our innovative Green Bonds Framework,published in March 2023,which received the highest Sustainability Quality Score of 'SQS1' from Moody's Investors Service,and is part of a broader program to fund our ambitious growth plans."

Julia Hoggett,CEO,LSE plc,and Head of Equities,Capital Markets,LSEG,"We congratulate Masdar on the successful listing of its debut green bond on the London Stock Exchange,the proceeds of which will support renewable energy projects. We are proud that our markets are helping to accelerate the low-carbon transition by providing access to capital for companies,funds and governments worldwide."

This bond is the first part of a program to raise up to US$3 billion to meet Masdar's equity funding commitments on new renewable energy projects at home and overseas,as it seeks to grow its global portfolio to 100GW of capacity by 2030. Masdar also plans a secondary listing of its green bond offering later this year on Abu Dhabi Securities Exchange (ADX),the second largest market in the Gulf region.

Proceeds from all bond offerings under the program will be deployed towards the greenest projects in the renewables sector,namely solar,wind,renewable power transmission and distribution infrastructure,and battery storage assets,and strict ESG criteria will apply to restrict the eligibility of projects.

Established in 2006,Masdar is the UAE's clean energy powerhouse. It is active in over 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of around 20 gigawatts (GW).Masdar aims to grow this to at least 100 GW by 2030. The company is also targeting green hydrogen production of 1 million tonnes per annum by the same year.

For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

About Masdar

Abu Dhabi Future Energy Company (Masdar) is the UAE's clean energy champion and one of the largest companies of its kind in the world,advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006,Masdar is today active in over 40 countries,helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC),Mubadala Investment Company (Mubadala),and Abu Dhabi National Energy Company (TAQA),and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.

This material is distributed by Daniel J. Edelman,Inc. on behalf of Masdar. Additional information is available at the Department of Justice,Washington,DC.

Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE). The market opening was attended by HE Dr Sultan Al Jaber,Mohamed Jameel Al Ramahi.