Relationship with the UAE government Since the company’s inception, we have played an integral role in Abu Dhabi’s economic development. We manage, produce, and preserve Abu Dhabi’s hydrocarbon reserves. Oil and gas contribute up to 50% of the Abu Dhabi economy. ADNOC also contributes to the manufacturing sector, and contributes to the wholesale and retail trade sector. We contribute resources that support the social fabric and vitality of the communities in which we operate, for example via direct social investments such as corporate social responsibility activities and our ICV program. Our work in turn supports the Government of the Emirate of Abu Dhabi’s development strategy, which is articulated in the Abu Dhabi Policy Agenda 2007–2008 (“Policy Agenda”) and the Abu Dhabi Economic Vision 2030 (“2030 Economic Vision”) . ADNOC Group is wholly owned by the Government of the Emirate of Abu Dhabi. It is, therefore, a key priority for us to act responsibly for our society for the long term, while maximizing value for our shareholder. The 2030 Economic Vision was designed as a comprehensive plan to diversify the Emirate’s economy and significantly grow the contribution of the non-oil sector by 2030. Its core economic objectives include enhancing competitiveness, productivity and diversification, which are intended to reduce growth volatility, thereby promoting economic resilience and long-term national prosperity. It is also intended to enlarge Abu Dhabi’s enterprise base by encouraging entrepreneurs, small enterprises and foreign direct investment, enabling the development of new national champion enterprises to act as economic anchors. To ensure all areas of society benefit from this new development, the 2030 Economic Vision encompasses action to enable Abu Dhabi’s youth to enter the workforce, to maximize the participation of women and to continue to attract skilled labor from abroad. To support the Vision, as part of approving ADNOC’s five-year business plan for 2023–27, our Board endorsed the aim of adding $48 billion (AED178 billion) to the UAE economy through our ICV program. The ICV program is a significant enabler of the diversification and up-skilling of our local value chain. 99 Energy for Life