It is terrific to have ADNOC as our newest investor. ADNOC shares Storeggas ambition for the rapid deployment of the CCS and carbon removal technologies that provide a crucial foundation for achieving global net zero objectives. By working together, we will be able to deliver more projects at pace and to pragmatically accelerate the energy transition. Scaling carbon capture and storage solutions Our CCS program enables us to decarbonize our operations as well as offering low-carbon solutions for industrial players in the region. The successful completion of our Al Reyadah CCUS facility in 2016 marked an important milestone in our journey to meet our commitments to emissions reduction. Al Reyadah is the worlds first commercial-scale facility for the steel industry, with a CO 2 capture capacity of up to 800,000 tonnes per year that reinforces our role in the UAEs efforts towards decarbonizing the nations economy. Al Reyadah processes CO 2 captured from Emirates Steel Arkan, which is then safely stored in our onshore hydrocarbon reservoirs. In 2023, we commenced a world- first pilot to permanently store CO 2 in a carbonate saline aquifer in Abu Dhabis onshore geological formations. In addition, the pilot will enable the production of low-carbon hydrogen and ammonia to support our customers decarbonization efforts. We are also piloting CCS technology that permanently mineralizes CO 2 within rock formations found in the Emirate of Fujairah. Success in both CO 2 sequestration and mineralization pilots may pave the way to large-scale carbon capture and storage across the region, while supporting our net zero ambitions and low-carbon products portfolio. Nick Cooper Executive Chairman, Storegga Direct air capture (DAC) technology will play an important role in the energy transition. We are exploring DAC projects in the UAE and North America, including construction of the first 1 mtpa CO 2 scale facility outside the United States. This project could inject CO 2 into the UAEs saline aquifers for permanent storage. In a strategic transaction in January 2023, ADNOC acquired a 10.1% equity stake in Storegga, a leading global developer of geological storage for industrial CO 2 emissions. This acquisition represented our first international equity investment in carbon management. The investment supports the companys strategy to leverage carbon management partnerships and technology, to advance global CCS projects to accelerate decarbonization. ADNOC has signed a series of strategic collaboration agreements with technology pioneers around the world to advance CCS technologies and accelerate collective decarbonization. These partnerships will develop global carbon management platforms to help decarbonize customers in Europe, North America and the Asia-Pacific region. 40