Electrifying our Offshore Operations Currently under construction, we are building a $3.8 billion, first-of-its-kind in the region, sub-sea transmission network to connect our offshore operations to onshore grid power from nuclear and solar energy. Upon completion, the project will potentially reduce the carbon footprint of our offshore operations by up to 50%, replacing existing offshore gas turbine generators with power from the grid. Our collaborative approach will also drive operational efficiencies and improve the reliability of the energy supply system, while offering the potential for power supply cost optimization. CASE STUDY Electrification Since January 2022, we have sourced 100% of our grid power from nuclear and solar, making ADNOC one of the first major oil and gas enterprises to decarbonize its electricity supply at scale. We are electrifying our liquefied natural gas (LNG) production. Our low carbon intensity LNG growth project will play a key role in the energy transition and will provide some of the world’s lowest-carbon LNG once completed. Electrification, energy efficiency, methane emissions abatement, and carbon capture and storage are the key decarbonization levers toward achieving 25 percent intensity reduction by 2030. Energy Efficiency We are focused on energy efficiency through the implementation of Group-wide ISO 50001 certification in energy management. In 2020 we achieved a 15% improvement in our energy efficiency compared to a 2014 baseline, resulting in more than 100 million gigajoules (GJ) of cumulative energy savings across our operating companies. In 2022 alone, we achieved more than 19 million GJ of energy savings as we progress our efforts towards a 5% energy improvement target by 2025. Our $600 million waste heat recovery project is revolutionizing power and water generation at our general utilities plant providing electricity and water to the entire Al Ruwais Industrial City. By using heat generated at the site to drive two steam-powered turbines, we can produce an additional 62,400 cubic meters of distillate water per day and 230 megawatts of power. Upon completion, the project will increase the thermal efficiency of the site by nearly 30% and reduce dependence on the national grid. Carbon Capture and Storage We completed the Al Reyadah CCS facility in 2016, the region’s first commercial-scale carbon capture facility, with a CO2 capture capacity of up to 800,000 tonnes per year. The facility processes CO2 captured from Emirates Steel Industries, which is then safely injected into our onshore oilfields. We are also piloting carbon removal and storage technology to permanently mineralize CO2 within rock formations and have commenced work on the world’s first fully sequestered CO2 injection well in a carbonate saline aquifer. 04 Our Journey to Net Zero Das Island, UAE 31 30 Advancing Towards Net Zero