• Investment spending increased by 20 % to reach a record high of AED 143 billion (approximately US$ 39 billion).
• Revenue grew by 27 %, reaching AED 138 billion (approximately US$ 38 billion).
• Achieving a cumulative return rate of 10.7 % over five years, and a cumulative return rate of 10.3 % for ten years.

Abu Dhabi, United Arab Emirates - Mubadala Investment Company, a sovereign investment company in Abu Dhabi, announced the group's financial results for 2025.

The company has achieved strong performance across its diversified investments, and has succeeded in enhancing the strength and flexibility of its investment portfolio, with the value of the company’s current assets rising to AED 1.4 trillion (equivalent to US$ 385 billion), with a cumulative return exceeding 10% over five and ten years .

On this occasion, His Excellency Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO, said:

“Based on the wise vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the confidence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of Mubadala, and His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, Mubadala continues to consolidate its position as a global sovereign investor, continuing to achieve qualitative accomplishments and accelerating its strategic growth across vital sectors, thereby enhancing its role and contribution to supporting the UAE’s sustainable economic development .”

He added: “Mubadala’s strong performance in 2025 embodies the effectiveness of our long-term strategy to invest in key growth-driving sectors in the UAE and globally. This, along with the consistent performance of our investment portfolio over the past five and ten years, reflects the robustness and flexibility of our investment approach and positions Mubadala to confidently address the challenges facing the regional and global economy .”

Khaldoon Al Mubarak highlighted Mubadala's role and its qualitative contributions, saying : "For nearly a quarter of a century, Mubadala has continued to build and develop leading national companies in various sectors in the UAE and globally. In 2025, we continued to enhance our capabilities in artificial intelligence in Abu Dhabi and to work on deploying capital in support of the UAE's vision for greater economic diversification. Thanks to our proven track record of achieving strong results in various circumstances, we are confident in our ability to overcome this stage and emerge from it stronger and more resilient."

Key financial achievements for 2025 :

Mubadala's 2025 results reflect its continued success in achieving its goals and aspirations as a global sovereign wealth fund. Key financial achievements are highlighted below :

• The company’s assets increased by 17 % year-on-year, reaching AED 1.4 trillion (approximately US$ 385 billion) .
• Achieving a cumulative return rate of 10.7 % over five years, and a cumulative return rate of 10.3 % for ten years.
• Investment deployment increased by 20 % to a record high of AED 143 billion (approximately US$ 39 billion), indicating the exceptional momentum that characterized the Group’s performance this year.
• Revenue grew by 27 %, reaching AED 138 billion (approximately US$ 38 billion).

Carlos Obeid, Chief Financial Officer at Mubadala, said: “2025 saw record levels of capital deployment and returns, clearly reflecting the momentum and maturity of our investment portfolio across various asset classes and geographies, which contributes to strengthening the resilience of our balance sheet.”

Obaid added: “It is noteworthy in this context that this performance was achieved while maintaining strong liquidity levels, based on our ability to access diverse sources of capital. This disciplined approach provides us with the necessary flexibility to adapt to global challenges and seize opportunities in a changing global economic landscape.”

Mubadala's most prominent contributions to the national economy :

In 2025, Mubadala continued its efforts to strengthen the national economy, provide quality job opportunities to support Emirati talent, attract global capital, and accelerate the growth of strategic sectors that bolster the long-term competitiveness of the national economy. The following are its key national contributions during 2025:

• The investment sector in the UAE has strengthened its leading role in driving economic diversification and achieving the desired value at the national level .

• Contributing AED 45 billion to the GDP, equivalent to 5.7 % of the non-oil GDP of the Emirate of Abu Dhabi .
• Supporting approximately 98,000 quality job opportunities in Abu Dhabi, directly and indirectly, an increase of 51% since 2021, thus consolidating Mubadala’s role and efforts in empowering and developing national talent.

• Aldar Properties and Mubadala Capital have launched Aldar Capital, an investment platform connecting global investors with tangible asset opportunities in the GCC. Based in Abu Dhabi Global Market, Aldar Capital offers global institutional investors professionally managed tangible asset investment opportunities, with its first fund targeting US$1 billion (AED 3.7 billion) in 2026.
• The launch of Mubadala Bio, a leading national life sciences company, aims to establish the UAE's capabilities in the biopharmaceutical sector on a large scale through 10 world-class facilities. By 2025, the company had begun local production of eight essential medicines, contributing to improved access to critical life-sustaining treatments, enhanced national pharmaceutical security, and the development of a sustainable life sciences ecosystem in the UAE.
• Emirates Global Aluminium continues its progress in developing an aluminum smelter in the United States, the first of its kind in decades, along with developing advanced smelting technologies .
• The announcement of a massive project to expand the financial center on Al Maryah Island in Abu Dhabi, with a value exceeding 60 billion UAE dirhams, in partnership with Aldar, confirms Abu Dhabi's status as the "capital of capital".
• M42 has launched an advanced program in collaboration with Oracle Health to create unified and easily accessible patient health records nationwide, integrating data from the UAE Genome Program into electronic health records to support genetically informed drug recommendations .
• Masdar announces the laying of the foundation stone for the world's largest renewable energy project, combining solar power and battery storage, with a production capacity of 1 gigawatt of renewable energy around the clock, in partnership with Emirates Water and Electricity Company .

Key features of our global investment portfolio :

2025 was one of the most active years for Mubadala's global investment platforms, as the group expanded its strategic investments and strengthened its presence through international partnerships in North America, Europe, and Asia. This reflects the broadening range of investment opportunities in sectors such as artificial intelligence, technology, healthcare, advanced industries, energy infrastructure, and others . The following are the key highlights of our global portfolio during the year :

• Mubadala launches a $1 billion (AED 3.7 billion) partnership with Fortress Group to invest in private credit and expand flexible financing solutions to support mid-cap companies and asset-backed investment opportunities, cementing Mubadala’s disciplined approach to expanding the global reach of its credit and special cases investment sector .
• Mubadala has injected a significant additional investment into PCI Pharma Services, as part of a strategic joint deal with Bain Capital and Kohlberg, to support the expansion of the company’s capabilities in developing and manufacturing innovative biotherapies, biologics, and specialty pharmaceutical treatments, in line with growing global demand.
• Mubadala has partnered with Silver Lake through the acquisition of Endeavor Group, a leading global platform focused on talent representation, media, and entertainment (and owner of TKO, which includes the UFC and WWE). This investment strengthens the strategic partnership between Mubadala and Silver Lake and adds value to Mubadala’s portfolio by investing in high-quality assets capable of generating attractive cash flows while ensuring promising and sustainable long-term growth prospects.
• A 24% minority stake in Arcadia Consumer Healthcare, a leading consumer health and personal care platform, was sold, concluding a four-year partnership with the Pansk Group, during which Arcadia's revenue tripled.
• A $600 million (AED 2.2 billion) investment has been completed, alongside EQT and global institutional partners, to acquire a stake in Nord Anglia Education, the world’s leading operator of premium international schools, serving more than 100,000 students in 37 countries.
• Mubadala's investment in a minority stake in Techem worth approximately €6.7 billion (AED 28.8 billion), as part of a consortium that includes Partners Group, GIC, and TPG Rise Climate, aims to support efforts to reduce carbon emissions in the real estate sector, which accounts for about 40% of total global emissions.
• Mubadala has acquired a 30% stake in Luscam International, a leading provider of pallet stacking and reusable packaging solutions in the Asia Pacific region, alongside a group of shareholders including Truststar Capital, Fountainfest, and Sinotrans. This investment marks Mubadala's first foray into the industrial sector in Asia.
• Mubadala, through a joint venture with Ardian, invested US$253 million (AED 929 million) to acquire a stake in four luxury retail properties in Paris and New York, leased to Kering fashion houses .
• A commitment of approximately €300 million (AED 1.29 billion) in investments has been made to Resolve Energy, in partnership with Actis, to support the expansion of renewable energy projects in Central and Eastern Europe. This platform, which has projects under construction in Romania and Bulgaria, along with strong additional development plans, aims to accelerate the deployment of clean energy solutions and enhance regional energy security.
• Mubadala has entered into a strategic partnership with Ardian to co-invest in the secondary infrastructure market, primarily focusing on multi-asset portfolios led by limited partners. This partnership includes a commitment from Mubadala of US$500 million (AED 1.84 billion) in a dedicated account, with the option to deploy an additional US$500 million through co-investments.
• Mubadala has committed to investing in a regulated minority stake in Trocordia in partnership with The Carlyle Group, through a loss-protected equity instrument. This transaction provides access to a large-scale, asset-light insurance brokerage platform in the United States.
• Mubadala Capital has successfully completed its acquisition of CI Financial, a leading diversified asset and wealth management company in North America, in a transaction valued at CAD 12.1 billion (AED 32.2 billion). With this acquisition, Mubadala Capital, through its asset managers and strategic partners, now manages, advises, and oversees assets exceeding USD 430 billion (AED 1.58 trillion) on behalf of its clients and limited partners. This asset size reflects Mubadala Capital’s vision to build a leading global asset management platform, offering high-quality institutional-grade alternative investments across various asset classes and geographies.
• The Abu Dhabi Investment Council continued its journey as Mubadala’s indirect investment arm, deploying investments worth US$19 billion (AED 70 billion) with major general partners and investment fund managers during 2025.
• We intensified our investments in MGX , supporting its strategy to invest in artificial intelligence and advanced technologies . During 2025, the AI Infrastructure Partners Group ( AIP ), composed of MGX , BlackRock, and GIP with other partners, acquired all shares of Allied Data Centers. MGX also collaborated with BPI France, Mistral AI, BlackRock, and Nvidia to build an AI complex in the Paris region, the largest of its kind in Europe.

Financial reports :

Mubadala focuses on delivering long-term value, and in line with this approach, as a sovereign investor, the company publishes multi-year benchmarks that reflect its long-term strategic perspective. Since 2021, Mubadala has been reporting five-year cumulative returns as its primary performance metric, rather than traditional annual metrics such as net income, ensuring its investments are aligned with strategic objectives. In 2024, it began publishing ten-year cumulative returns, further reflecting its long-term capital investment approach.

The 2025 annual report is available.

https://annual2025.mubadala.com/ar/

About Mubadala Investment Company

Mubadala Investment Company is a sovereign wealth fund managing a global portfolio of businesses. Its mission is to generate sustainable financial returns for the Government of Abu Dhabi. With a portfolio valued at AED 1.4 trillion ( approximately US$385 billion ) spread across six continents, Mubadala invests in various sectors and asset classes. The company leverages its extensive industry expertise and long-standing global partnerships to generate profits and contribute to sustainable growth, supporting efforts to build a diversified and integrated national economy. For more information about Mubadala, please visit the company's website at www.mubadala.com

For media inquiries :

Ziad Muhafazah - Vice President

Arabic Communications and Content Team - Corporate Communications Unit - Mubadala

zmahafza@mubadala.ae

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