Emaar Properties Q3 2018 Results December 2018 Disclaimer Emaar - PowerPoint PPT Presentation

Emaar Properties Q3 2018 Results December 2018

Disclaimer Emaar Properties PJSC, for themselves and for Emaar Group, give notice that: The particulars of this presentation do not constitute any part of an offer or a contract. Given that the presentation contains information based on forecasts and roll outs, all statements contained in this presentation are made without responsibility on the part of Emaar Properties PJSC, their advisors, or members of Emaar Group (including their directors, officers and employees). None of the statements contained in this presentation is to be relied upon as a statement or representation of fact. All parties must satisfy themselves as to the correctness of each of the statements contained in this presentation. Emaar Properties PJSC and members of the Emaar Group do not make or give, and neither members of the Emaar Group nor any of their directors or officers or persons in their employment or advisors has any authority to make or give, any representation or warranty whatsoever in relation to this presentation. This presentation may not be stored, copied, distributed, transmitted, retransmitted or reproduced, in whole or in part, in any form or medium without the permission of Emaar Properties PJSC. 9 2018 Results Presentation 28 February 2019 Page 1

Table of Contents KEY HIGHLIGHTS INCOME STATEMENT BALANCE SHEET OPERATIONAL OVERVIEW APPENDIX Q3 2018 Results Presentation 28 February 2019 Page 2

Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Properties at a Glance c. 94,000 #1 1.6Bn units sold since SQFT of land listed developer inception (3) bank in key by market cap c. 61,000 in UAE countries in MENA (1) +49,700 c. 44,400 + 50.7Bn residential units Units under total Backlog (2) delivered since 2002 development (3) 38.5Bn in UAE c.35,100 in UAE +26,500 in UAE (in AED) 87% 83% sold Dubai Square Mall unveiled in of Dubai’s total Overall sales in Dubai Creek key international units under Harbour markets development 30% #1 19 Hotels Recurring revenue Visited Mall in + 3,900 Keys (42% of EBITDA) the World (Owner) Q3 2018 Results Presentation 28 February 2019 Page 3 (1): Market Cap of AED 29.28 BN as at December 11, 2018 (3): Units refers to the Group including UAE and international (excluding EEC) (2): Backlog represents value of property sold that is yet to be recognized as revenue at 30 Sep 2018, backlog figure refers to Group backlog including UAE and International excluding EEC

Key Highlights Income Statement Balance Sheet Operational Overview Appendix Key Financial Highlights for the Group (1) (1) % Change % Change Q3 2018 Q3 2017 9M 2018 9M 2017 AED Million Group Property Sales 5,475 5,672 (3%) 12,728 17,638 (28%) Revenue 5,325 5,610 (5%) 17,390 13,351 30% Gross Profit 2,571 2,870 (10%) 8,810 6,785 30% Margin (%) 48% 51% (6%) 51% 51% - EBITDA 2,151 2,334 (8%) 7,528 5,576 35% Margin (%) 40% 42% (5%) 43% 42% 2% Net Profit 1,100 1,548 (29%) 4,317 4,158 4% Margin (%) 21% 28% (25%) 25% 31% (19%) EPS (AED/Share) 0.15 0.22 (32%) 0.60 0.58 3% Total Equity (2) 54,942 55,627 (1%) 54,942 55,627 (1%) Cash (2) 13,239 21,103 (37%) 13,239 21,103 (37%) Debt (2) (23,603) (21,569) 9% (23,603) (21,569) 9% Net Debt (2) (10,364) (466) 2124% (10,364) (466) 2124% Emaar on Track to Boost Profitability in the Coming Years Q3 2018 Results Presentation 28 February 2019 Page 4 (1): 2017 figures are restated. Refer note 2.4 of the unaudited interim condensed consolidated financial statements for the period ended 30 Sep 2018. (2): Comparative financial position numbers are as at 31 Dec 2017;

Income Statement Key Highlights Balance Sheet Operational Overview Appendix Results by Segment Revenues Breakdown of Results AED Billion Revenue 31% 54% (13%) 33% 0% 11% 17.4 6% 6% 13.3 10.0 18% 6.5 3.2 2.4 2.4 2.1 1.1 1.1 1.0 0.9 58% 12% Emaar UAE International Emaar Malls Emaar Entertainment Properties Development Development Hospitality and Leasing Gross Profit Total: AED 17.4 BN AED Billion EBITDA 29% 57% 14% 14% 0% 0% 8.8 3% 8% 1% 6.8 4.4 2.8 2.5 2.2 0.8 0.7 0.7 0.7 51% 0.4 0.4 29% Emaar UAE International Emaar Malls Emaar Entertainment Properties Development Development Hospitality and Leasing Total: AED 7.5 BN Recurring Revenues Contributing 42% of EBITDA UAE Development Emaar Malls International Development Emaar Hospitality (1) Others Entertainment and Leasing 9M 2018 9M 2017 % Y-o-Y Change Q3 2018 Results Presentation 28 February 2019 Page 5 (1): 2017 figures are restated. Refer note 2.4 of the unaudited interim condensed consolidated financial statements for the period ended 30 Sep 2018.

Income Statement Key Highlights Balance Sheet Operational Overview Appendix Emaar- Financial Performance AED Million CAGR CAGR +17% +14% +30% +30% 18,792 9,398 17,390 8,810 8,100 15,540 Gross 7,263 13,661 6,785 13,351 Revenue Profit 52% 51% 51% 53% 50% 2015 2016 2017 9M 2017 9M 2018 2015 2016 2017 9M 2017 9M 2018 CAGR CAGR +16% +13% +4% +35% 5,572 Net 5,419 7,763 7,528 6,676 4,383 4,317 Income 4,158 EBITDA 5,783 5,576 (Net of Minorities) 42% 43% 41% 43% 42% 32% 35% 30% 25% 31% 2015 2016 2017 9M 2017 9M 2018 2015 2016 2017 9M 2017 9M 2018 Revenue on a growth trajectory supported by significant backlog of over AED 51 Bn expected to be recognized in the next 3-4 years Q3 2018 Results Presentation 28 February 2019 Page 6 Note: 2016 & 2017 figures are restated

Balance Sheet Key Highlights Income Statement Operational Overview Appendix Balance Sheet Overview at 30 Sep 2018 Emaar Group Balance Sheet Overview Change in Cash & Cash Equivalents AED Million % Total: AED 112.82 BN Bank Balances & Trade & Other 12 Cash 16 Payables Advances from Trade & Other 18 Customers Receivables 14 Interest-Bearing Loans & Borrowings 14 Sukuk Development Debt Maturity Profile Other Liabilities Properties 34 6 Liabilities classified 1 AED Million 1 as held for sale 7,440 5,654 3,514 3,344 Loans & Investments 2,471 5 in associates and JV Shareholder’s 1,040 141 41 Investment Equity Properties 17 2018 2019 2020 2021 2022 2023 2024 & Beyond Turkey & International Sukuk 2 & International Property, Plant & Emaar Malls & Emaar Development Syndicated Equipment 11 Emaar Development loan Assets held for sale Non-Controlling Interests 7 Emaar Malls Sukuk & Turkey & Emaar Development 1 Others 2 Properties Sukuk 3 Assets Liabilities & Equity Q3 2018 Results Presentation 28 February 2019 Page 7

Balance Sheet Key Highlights Income Statement Operational Overview Appendix Credit Ratios as of 30 Sep 2018 EBITDA / Interest Net Debt / EBITDA 1.07X 10.8X 10.6X 9.9X 0.06X 0.01X * * * 2016 2017 9M 2018 2016 2017 9M 2018 Net Debt / Equity Debt / GAV 18.9% 20.9% 18.9% 18.0% 0.8% 0.2% 2016 2017 9M 2018 2016 2017 9M 2018 Solid credit with very comfortable Net Debt-to-Equity and significant Debt Coverage Q3 2018 Results Presentation 28 February 2019 Page 8 * Based on last 12 months

UAE Development

Key Highlights Income Statement Balance Sheet Operational Overview Appendix UAE Development Overview Successfully launched 8 new projects in Dubai during 9M 2018 with a total value of c.AED 9.0Bn Beach Vista Sunrise Bay Marina Vista c.AED 10.0Bn of sales booked and c.4,100 units 9M 2018 Launches sold across all projects during 9M 2018 c. 61,000 c. 26,500 properties sold Units Under Construction since inception AED 8.6 Bn AED 38.5 Bn Golf Place Collective Socio UAE Backlog (1) Escrow to be recognized within balance (2) the next 3-4 years Grande The Grand Q3 2018 Results Presentation 28 February 2019 Page 10 (1): Sales value of properties sold but not yet recognised as revenue under IFRS including 100% ownership of joint ventures as of 30 Sep 2018; (2): Including 100% of Escrow balances of Joint Ventures & JDA’s

Operational Overview Key Highlights Income Statement Balance Sheet Appendix UAE Development - at a glance Overview of Emaar Development Master plans  Emaar spearheaded the development of freehold Downtown Dubai master planned lifestyle communities in Dubai Arabian Ranches  About 35,100 residential properties delivered in the Dubai Marina 100% UAE since 2002 with strong future pipeline Owned Developments Emirates Living  About 26,500 units currently under development Emaar Beachfront* with sales value of over AED 73Bn. 100% Consolidated JVs Dubai Hills  Targeted average gross margin of 40% across projects Dubai Creek  All master plans are mixed use development, JVs/JDA with 50% Share Emaar South currently various malls, retail and hospitality projects Zabeel Square are under development on behalf of Emaar Lusaily # Land bank Properties PJSC for a management fee. (100% owned) Al Marjan, Ras Al Khaimah Q3 2018 Results Presentation 28 February 2019 Page 11 * Emaar Beachfront partial acquisition completed and launched in Jan 2018. In March 2018 an MOU with Aldar was signed to jointly develop the project; formal agreement is under process # Not Part of Emaar Development PJSC