OVERVIEW

INVESTMENT OVERVIEW

WHY BUILD the Largest SUGAR REFINERY in the GCC, at KEZAD INDUSTRIAL FREE ZONE, KHALIFA PORT?

•The consumption of refined sugar in GCC region exceeds 8.0 Million Tonnes per annum vs refined sugar production of 5.0 Million Tonnes resulting in a local shortfall in annual production of at least 3.0 Million Tonnes.

•Refined sugar produced by Emirates Sugar Refinery at KEZAD will address this gap in refining capacity to supply the local market in the region, as well as GCC and other MENA region countries, with an initial annual output of c. 1,000,000 Tonnes for the phase 1, increasing to 3 million tonnes in phase 2.

•Production cost will be significantly lower than comparable locations elsewhere in the region as subsidies for land rental and electricity supply are available as well as lower fuel and logistics costs, compared with other refineries located in Asia/ Europe.

•ESR’s “state of the art” refinery in KEZAD will be the largest sugar refinery in the UAE upon completion and the only one located in Abu Dhabi.

•The payback period for investors is extremely competitive for a large scale industrial facility with a clear growth plan to increase production capacity in subsequent project phases.

•The 4-5 year business objective is to seek significant value creation through the successful IPO of the business on the ADX.