The Board of Directors of ADNOC Drilling Company P.J.S.C. has recommended a new, progressive dividend policy with dividends expected to grow by at least 10% per annum on a dividend per share basis over the next five years (2024-2028). Moreover, the Board of Directors, at its discretion, may consider additional dividends over and above the progressive dividend policy after taking into account growth opportunities while maintaining net debt/EBITDA up to 2x, excluding transformative M&A. The new dividend policy is subject to shareholder approval at an upcoming General Shareholder Meeting, the date of which will be advised shortly. As per the policy, dividends are expected to be paid semi-annually with a final dividend distributed to shareholders in the first half and the payment of the interim dividend in the second half of each fiscal year.