Abu Dhabi, UAE: Meer Group (“Meer”, “the Company” or “the Group”), a strategic investment company headquartered in Abu Dhabi that, through its diversified investment portfolio, supports sustainable growth and economic development in the UAE, has announced its intention to list its shares directly on the Abu Dhabi Securities Exchange (ADX) effective Monday, 9 December 2024. Meer Group invests in key economic sectors across the food supply chain, commercial real estate and related sectors, and encourages innovation to drive development and provide sustainable well-being and progress.

Meer’s roots date back to 1977, and it is nothing but an extension of the efforts and collaboration of a number of ambitious Emirati entrepreneurs who laid the foundations for a business model that has today become an extension of one of the most influential and diverse companies in the United Arab Emirates. In 2024, Meer Group was established as a result of a strategic merger of four cooperative societies as a unified entity that brings together decades of community initiatives and strategic investments, thus gaining a leading position in the food retail and commercial real estate sectors.

Overview of investment benefits

The company has a strong presence backed by solid performance and a firm commitment to making a positive impact in society:

Excellence in Food Retail:

• Mir operates over 100 retail stores under the ADCOP and SPAR brands, serving over 65,000 customers daily, processing over 36 million transactions annually. The group adopts a ‘farm to fork’ strategy, partnering with over 100 local farmers, reinforcing its role as a key advocate for sustainable practices in the UAE.

Leadership in the commercial real estate sector:

• Through its Makani arm, Mir manages over 12 community shopping centres with an occupancy rate of 95% across 330,000 square metres of leasable retail space. These centres, which include a number of popular community shopping centres such as Al Ain Mall and Makani Community Centres, contribute to enhancing economic growth and community well-being through their diverse portfolio.

Strategic investments:

• Mir’s investments are centred around supporting the UAE’s food security agenda, which is why the group focuses its investments in companies that support this goal, such as Al Masa Mills, with a production capacity of up to 400 metric tons per day, which contributes to enhancing the resilience of the country’s food and consumer goods supply.

Community Impact:

• Committed to enriching community life, Mir has invested over AED 36 million in CSR initiatives over the past three years to support local industries and Emirati farmers, and drive sustainability efforts in many forms such as the ‘Farm to Fork’ approach. The company aims to recruit 400 Emirati employees over the next three years, underlining its commitment to supporting and nurturing local talent and communities.

Commitment to shareholders:

• In 2023, Mir distributed dividends of AED 135 million, representing 12.11% of its capital, to its 12,000 shareholders. The company recorded revenues of AED 1.2 billion in the first half of 2024, reflecting the strength of its financial performance and its ability to achieve sustainable value and growth for its shareholders.

Commenting on the listing, Nahyan Al Ameri, Managing Director and CEO of Mir Group, said: “The direct listing of our shares on the Abu Dhabi Securities Exchange marks a historic milestone in our decades-long journey, which has been marked by building a rich legacy and playing a clear role in the economic and social growth of the UAE. This step reflects our readiness to enhance our presence and role in the growth of the economy and the well-being of the UAE society, and we invite stakeholders to join us in this exceptional journey. The significance of this listing goes beyond being a significant financial achievement, as it is an affirmation of our resilience, innovative capabilities and unwavering commitment to empowering the communities we serve.”

With revenues exceeding AED 2 billion in 2023, and a diversified portfolio of strategic investments that support this goal, Mair Group is well-positioned to drive sustainable practices and economic growth. Mair Group’s approach focuses on innovation, sustainability and community, reinforcing its role as a key driver of economic development in the UAE. More information on the direct listing is available on the Group’s website: www.mairgroup.com .

About Mir Group:

Meer Group is a leading company that aims to enhance the economic and social well-being of the UAE by providing global expertise, fostering innovation and deploying smart solutions to build strategic value in the food, commercial real estate and related sectors. Our approach to investing goes beyond financial investments; we strategically partner with companies, providing practical guidance that enhances value and drives growth. Under the Meer Group umbrella, Abu Dhabi Cooperative Society has grown to become one of the leading food retail companies in the UAE, significantly expanding its network to include over 100 food retail outlets across the country. The group also includes Makani Real Estate, a leading company in the field of acquiring, developing and operating community centers, known as Makani Community Centers, spread across the UAE. For more information, please visit: www.mairgroup.com .

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