Engaging with external stakeholders is critical to our energy transition journey. Our track record of global partnerships, operational capabilities, and technology application positions us well for the opportunities presented by the energy transition. Technology will be a key enabler to deliver on our net zero ambition. We are exploring and deploying technologies to enhance our emissions monitoring and making targeted interventions to reduce the carbon footprint of our operations. In addition, we are accelerating our efforts to strengthen value chains for lower-carbon fuels to support industrial decarbonization. Almost 80% of our new technology and development activity is focused on sustainable growth projects, such as the harnessing of geothermal energy to power residential and industrial activities and the development of clean fuels such as green and blue hydrogen. We have invested in a state-of-the-art ADNOC Research and Innovation Center (ADRIC). This 26,000m2 facility is designed to develop and deploy innovations that will transform, decarbonize, and future proof our operations. Researchers at the facility work closely with other scientists from Khalifa University and the Non-Metallic Innovation Center in Cambridge, United Kingdom. We also help to nurture technological innovation at other academic institutions, including the Mohammed Bin Zayed University for Artificial Intelligence, UAE University, and the University of Manchester. We continue to partner with innovators, pioneers, and industry leaders to advance our net zero ambition. Leveraging Technology and Partnerships Pillar 03 Decarbonization Technology Challenge ADNOC recognizes the tremendous potential offered by emerging technology start-ups in decarbonizing the energy sector and heavy industries at large. In 2023, we launched the Decarbonization Technology Challenge in partnership with Amazon Web Services, bp, Hub71 and the Net Zero Technology Centre (NZTC). The competition invites emerging companies pioneering decarbonization technologies to submit their innovations for a chance to win a $1 million piloting opportunity with ADNOC. We are also patrons of the TechX Clean Energy Accelerator program, which is run in partnership with Accenture, bp, Equinor, and NZTC. Together, we hold an annual competition to find innovative start-ups pioneering energy transition technologies, such as direct air capture devices, or batteries made from agricultural waste. Winning companies are provided with funding and expertise to help realize the potential of their technologies. CASE STUDY We are working with LanzaTech, a US-based biotechnology company that is pioneering the use of bacteria to convert CO2 into fuels and chemicals, to explore ways of converting waste gases from our downstream facilities into chemicals and sustainable aviation fuels. We are also partnering with Baker Hughes and two of its portfolio companies, Levidian and Nemesys, to produce graphene and green and low-carbon hydrogen. With 44.01, we are deploying their Earthshot Prize winning technology to help permanently mineralize CO2 within peridotite rock formations in Fujairah. We are working with German e-mobility company, Power I.D., to decarbonize operations in remote areas by developing battery energy storage systems made from re-used electric vehicle batteries. We are harnessing geothermal energy to diversify the UAE’s energy mix. In partnership with the National Central Cooling Company (Tabreed), we are recycling subsurface heat to sustainably run the systems used to cool urban spaces. In the digital domain, we are collaborating with Siemens Energy to implement blockchain technology to record and certify the carbon footprint of products, such as low-carbon ammonia. Our investment in developing and deploying the technologies of tomorrow will enable us to drive efficiency and performance while ensuring that we continue to deliver low cost and low carbon energy to power economies around the world. 04 Our Journey to Net Zero 37 36 Advancing Towards Net Zero