Dubai, United Arab Emirates – Emirates Integrated Telecommunications Company PJSC (“du” or the “Company”), a leading telecommunications and digital services provider in the UAE, whose ordinary shares are listed on the Dubai Financial Market (Trading Code: DU / ISIN: AEE000701012), has announced the launch of a secondary public offering of its shares (the “Offering”). The Offering will be made by Al Mamoura Diversified Global Holding PJSC (“Al Mamoura” or the “Selling Shareholder”), a subsidiary of Mubadala Investment Company PJSC (“Mubadala”).

The most prominent advantages of the offering

• The secondary public offering comprises up to 342,084,084 outstanding du shares offered by the Selling Shareholder, representing 7.55% of du’s issued share capital (the “Offer Shares”) and 75% of Al Maamoura’s stake in the Company.
• The price range has been set between AED 9.0 and AED 9.90 per share (the "Price Range"). The final share price (the "Final Offer Price") will be determined through a bookbuilding process and announced on September 15, 2025 .
• The offering consists of two tranches:
  • The offering dedicated to individual investors in the UAE (first tranche): includes 5% of the offering shares, and is available to individual investors and other qualified investors (including companies and institutions) who hold an investor number from the Dubai Financial Market.
  • Global Offering to Qualified Investors (Tranche II): This includes 95% of the Offering Shares, which is targeted at qualified corporate investors in the UAE and other jurisdictions outside the United States, in accordance with Regulation S issued under the Securities Exchange Act of 1933, as well as in the United States for qualified corporate investors in accordance with the provisions of Rule 144A of the same Act.
• Individual investors in the UAE will participate in the offering of shares at the final offering price.
• All of the offered shares are currently owned by Al Maamoura, and the company will not receive any proceeds from the sale of the offering shares.
• The offering will not result in any dilution of the equity of the Company's existing shareholders.
• The selling shareholder will bear all costs and expenses associated with the offering.
• Shares held by Al Maamoura after the offering will be subject to a 90-day lock-up period from the settlement date, subject to certain customary exceptions and an express waiver from the Joint Global Coordinators.
• As part of the offering process, du will hold a series of meetings with corporate investors prior to the closing of the offering period.
• The Offering Circular in English, accompanied by an Arabic translation dated 8 September 2025, for the UAE Retail Offering, is available at https://www.du.ae/secondary_public_offering. The International Offering Circular in English (the "International Offering Circular") for the Qualified Investor Offering will also be published on the same day at https://www.du.ae/secondary_public_offering.
• Abu Dhabi Commercial Bank (PJSC), Emirates NBD Capital (PJSC), First Abu Dhabi Bank (PJSC), and Goldman Sachs International have been appointed as Joint Global Coordinators and Joint Bookrunners for the Offering.
• Emirates NBD (PJSC) was appointed as the lead receiving entity during the offering. Abu Dhabi Commercial Bank (PJSC), Abu Dhabi Islamic Bank (PJSC), Al Maryah Local Bank, Dubai Islamic Bank (PJSC), Emirates Islamic Bank (PJSC), First Abu Dhabi Bank (PJSC), and WeYou Bank (PJSC) were also appointed as other receiving entities.

The Internal Sharia Supervisory Committee of Emirates NBD PJSC and the Internal Sharia Supervisory Committee of First Abu Dhabi Bank PJSC issued a fatwa confirming that the offering is, in their view, compliant with the principles and provisions of Islamic Sharia. In this context, the two committees emphasized the need for investors to fulfill their responsibilities in conducting their own due diligence to ensure that the offering is compliant with the provisions and principles of Islamic Sharia, in line with their investment objectives.

Subscription and Settlement

Individual offering in the UAE

The subscription period for the individual tranche in the UAE will begin at 9:00 AM (Dubai time) on September 8, 2025, and is expected to end at 12:00 PM (Dubai time) on September 12, 2025.

Individual investors wishing to subscribe for the Offer Shares must do so exclusively through electronic channels, the retail banking branches of the Primary Receiving Entity or one of the approved Receiving Entities, or through the subscription channels of the Dubai Financial Market. The minimum subscription application size for the Individual Tranche has been set at AED 5,000, with any additional applications of AED 1,000 being doubled. Any excess amounts or the full amount will be refunded to individual investors no later than Tuesday, September 16, 2025. Each individual subscriber will receive a guaranteed minimum allocation of up to 500 shares, provided that the total number of shares allocated under the guaranteed minimum allocation does not exceed the number of shares offered to the Individual Tranche, which may result in fewer than 500 shares being allocated to each investor. Individuals will participate in the Offering based on the final offer price.

Private offering for qualified investors

The subscription period for qualified investors begins today, September 8, 2025, at 9:00 AM (Dubai time), and is expected to end at 3:00 PM (Dubai time) on September 12, 2025.

The settlement process and delivery of the Offer Shares to Qualified Investors will take place via the Dubai Financial Market's Direct Transactions System, through brokers and in accordance with the market's trading policy, on Tuesday, September 16, 2025, before the market opens. Investors purchasing Offer Shares from the Qualified Investor Tranche will be required to pay the commissions and fees due to the broker, the Dubai Financial Market, and any other fees, in accordance with the terms agreed upon with the broker they commission to purchase the Offer Shares.

All investors participating in the offering will be able to trade the offering shares starting from the opening of the trading session on the Dubai Financial Market on Tuesday, September 16, 2025, while the final settlement for the eligible investor tranche will take place on Thursday, September 18, 2025.

The Internal Sharia Supervisory Committee of Emirates NBD PJSC and the Internal Sharia Supervisory Committee of First Abu Dhabi Bank PJSC issued a fatwa confirming that the global offering is, in their view, compliant with the principles and provisions of Islamic Sharia. In this context, the two committees emphasized the need for investors to fulfill their responsibilities in conducting their own due diligence to ensure that the global offering is compliant with the provisions and principles of Islamic Sharia, in line with their investment objectives.

About the company

du operates under the motto “Adding Life to Life,” offering a comprehensive portfolio of advanced mobile, fixed, and ICT solutions, as well as network infrastructure and digital financial services. The company adopts an innovative digital approach, powered by the latest reliable fiber optics and 5G networks, offering tailored solutions that leverage cloud computing, AI-powered analytics, the latest cybersecurity technologies, and Internet of Things integration. As a trusted digital partner leading the UAE’s digital transformation journey, du works within a dynamic ecosystem of partnerships that empower sectors and communities to achieve operational excellence and build a more digital and connected future across the region.

On this occasion, Fahad Al Hassawi, CEO of du, said:

“This step represents a new phase that offers individual and institutional investors an exceptional opportunity to participate in du’s success story. Our strategy in recent years, focused on the UAE market, and our efficient capital management, have contributed to exceptional financial and operational performance, enabling us to create significant value for our shareholders. We welcome Al Mamoura’s initiative, which will contribute to a significant increase in du’s free float. This step is expected to expand our investor base and enhance liquidity levels, paving the way for the company’s inclusion in major global indices.”

Dr. Bakheet Al Katheeri, Chief Investment Officer, Mubadala Investment Company, UAE, said: “Mubadala plays a key role in contributing to the advancement of the national economic agenda, a role that is clearly demonstrated by its support of du for nearly two decades through our subsidiary, Al Mamoura, as a founding shareholder. We have contributed significantly to du’s transformation into a national champion—not only in the telecommunications sector, but also at the heart of the UAE’s digital economy. With a strong roadmap and proven performance, du is well-positioned for its next phase of growth. This transaction represents a significant milestone in the UAE capital markets and sets a new benchmark for secondary offerings in the region. It broadens investor participation and enables us to responsibly redeploy capital while supporting sustainable value creation.”

Investment features

1. du benefits from a supportive macroeconomic environment in the UAE.

• The International Monetary Fund forecasts that the UAE's GDP will grow by 4% in 2025, and by an average of 5% annually until 2027.
• The country's demographics are characterized by a young, digitally savvy population, with 79% of the population under the age of 44. The country has also witnessed significant population growth, with its population rising from 1 million in 1980 to 10.7 million in 2023.
• The UAE is adopting a national digital economy strategy that aims to double the digital economy's contribution to GDP to 19% by 2031. The country's thriving tourism sector and smart infrastructure provide additional support for this ambitious strategic direction.

2. Established position and growing presence in the market

• The UAE's telecommunications market is a huge one, with total revenues estimated at AED 50 billion by 2024. Mobile phone services account for approximately AED 19 billion, while fixed-line services revenues amount to approximately AED 16 billion.
• Du has successfully increased its subscriber base and market share in both the mobile and fixed-line services sectors, reflecting the strength of its offerings and its high competitiveness.

3. “Du” adopts a strategy that focuses on a single market and has local executive expertise.

• The company's strategic focus on the UAE market enables it to deliver customer-centric solutions, achieve high capital utilization efficiency, and simplify operational processes and reduce their challenges and complexities.
• This approach is closely aligned with ambitious national priorities, such as the “Fifty Projects” initiative and the “We the Emirates 2031” vision.
• The company's strategic pillars are based on growing its core business through targeted product innovation, expanding into data centers, cloud computing, and digital financial services, and employing the latest technologies to deliver a first-of-its-kind digital customer experience.

4. Expansion of basic communications services and other services

• As of June 30, 2025, the company recorded a 10.8% growth in its mobile subscriber base, exceeding 9.10 million subscribers. This growth is attributed to the launch of packages specifically designed to meet customer needs, the provision of corporate mobility solutions, the success of the "Alo" brand, and the expansion of its presence in the consumer services sector.
• As of June 30, 2025, the fixed-line customer base increased by 12.0% to exceed 0.7 million subscribers, driven by increased demand for wireless home internet and fiber broadband services.
• The company is achieving growth in adjacent services through the expansion of advanced ICT solutions provided by du Tech, the provision of sovereign cloud services, and the significant growth of du Pay services, which opens up new revenue avenues.

5. Strong financial performance combining revenue growth and improved profitability (H1 2025)

• Revenues grew by 8% year-on-year to AED 7.8 billion.
• EBITDA increased by 16% year-on-year to AED 3.7 billion, with a profit margin of 47%.
• Net profit increased by 22% year-on-year to AED 1.4 billion.
• Free cash flow from operating activities reached AED 2.7 billion, a 16% increase year-on-year, reflecting the company's highly efficient cash management.

6. A strong financial position and a proven track record of high dividend distributions and generating rewarding value for shareholders.

• The company's strong, debt-free financial position supports its ability to invest in future growth opportunities and continue to distribute generous dividends to shareholders.
• The company has maintained a consistent record of paying regular dividends without interruption since 2012, with the 2024 dividend reaching a record high of AED 0.54 per share, a 59% increase year-on-year.
• The company has continued to increase its dividend per share and dividend payout ratio over the past three years, increasing from AED 0.24 in 2022 (with a payout ratio of 89%) to AED 0.54 in 2024 (with a payout ratio of 98%), reflecting a compound annual growth rate of 50.0% and confirming its unwavering commitment to maximizing shareholder returns.

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