Secondary Public Offering of du Shares

Emirates Islamic Bank (P.J.S.C.) acting as Receiving Bank present you with the opportunity to subscribe to du’s secondary public offering..

Emirates Integrated Telecommunications Company PJSC (“du”), a leading telecoms and digital services provider in the UAE whose ordinary shares are listed on the Dubai Financial Market (DFM) (DFM Symbol: du/ISIN: AEE000701012), announced the launch of a secondary public offering of its shares, increasing du’s free float and contributing to the improvement of its stock liquidity.

The Subscription period for the offering starts on Monday, 8 September 2025, and will run until 12:00 PM on Friday, 12 September 2025. The price range has been set between AED 9.00 and AED 9.90 per share, representing a discount of 9.1% at the lower end of the price range compared with du’s closing share price on Thursday, 4 September 2025.

du Investment Proposition

du is a leading UAE telecoms and digital services provider, with a single market focus and a clear strategy to drive growth in core connectivity services and high growth adjacencies. It is leading the way into a digitally enabled tomorrow.

du benefits from supportive UAE macroeconomic environment
- UAE GDP projected to grow 4% in 2025 and average 5% through 2027 (IMF).
- Digitally savvy, young population (79% under 44) and population growth from 1M in 1980 to 10.7M in 2023.
- Digital Economy Strategy targets doubling digital GDP to 19% by 2031; smart infrastructure and tourism provide further support.
Strong and growing market position
- The UAE telecommunications market is sizeable, generating AED 50B+ in estimated total revenue in 2024, with mobile service revenues accounting for approx. AED 19B and fixed-line service revenues accounting for approx. AED 16B.
- du has successfully increased its subscriber base and market share in both mobile and fixed.
Single-market strategy with localised execution
- UAE-focus enables customer-centric solutions, capital efficiency and reduced complexity.
- Aligned with national priorities like “Projects of the 50” and “We the UAE 2031”.
- Strategic pillars include: growing the core business by targeted product innovation, expansion into cloud/FinTech, state of the art technology and digital-first customer experience.
Expanding core telecoms and adjacent services
- As at 30 June 2025, 9.10M+ mobile subscribers growing by 10.8%, driven by tailored bundles and enterprise mobility, success of Alo and expansion of retail presence.
- As at 30 June 2025, 12.0% increase in its fixed customer base to 0.7M+, driven by Home Wireless and fibre broadband.
- Adjacency growth through du Tech’s ICT expansion, sovereign-grade cloud services, and du Pay’s growth.
Strong financial performance, combining top line growth and improved profitability (H1 2025)
- Revenue grew 8% YoY to AED 7.8B.
- Net profit up 22% YoY to AED 1.4B.
- Operating free cash flow reached AED 2.7B, up +16% YoY.
Solid balance sheet and track record of high shareholder distributions and value creation
- Unleveraged balance sheet supports investment in growth and shareholder distributions.
- Uninterrupted dividends since 2012, with record 2024 dividend of AED 0.54 per share, up 59% YoY.
- Consistently increased dividend per share and dividend payout over the past three years, from AED 0.24 in 2022 (89% payout) to AED 0.54 in 2024 (98% payout), reflecting a 50.0% CAGR.

Key Dates to Remember:

Key Dates	IPO Milestone
8 September 2025	Retail Subscription Period Starts
12 September 2025 (12:00 PM)	Retail Subscription Period Ends
15 September 2025	Announcement of Final Offer Price and Allocation
16 September 2025	Newly Acquired Shares Available for Trading

To find out more information about the secondary public offering, visit www.du.ae/secondary_public_offering or call 04-3160066.

Ways to Apply

Existing Emirates Islamic customers:

1. Participating Branches: Visit any of the below branches to subscribe.

Region	Participating Branches	Documentation Requirements
Dubai	Healthcare City Branch Nad Al Hamar	For Individuals: The original and a copy of a valid passport or Emirates identity card; and In case the signatory is different from the Subscriber: • The duly notarised power of attorney held by that signatory or a certified copy by UAE-regulated persons/bodies, such as a notary public, or as otherwise duly regulated in the country; • The original passport/Emirates ID of the signatory for verification of signature and a copy of the original passport/Emirates ID; and • A copy of the passport/Emirates ID of the Subscriber for verification of signature. In case the signatory is a guardian of a minor, the following will be submitted: • Original and copy of the guardian’s passport/Emirates ID for verification of signature; • Original and copy of the minor’s passport; and • If the guardian is appointed by the court, original and copy of the guardianship deed attested by the court and other competent authorities (e.g. notary public). For Corporates: UAE-registered corporate bodies: • The original and a copy of a trade license or commercial registration for verification or a certified copy by one of the following UAE-regulated persons/bodies; a notary public or as otherwise duly regulated in the country; • The original and a copy of the document that authorises the signatory to sign on behalf of the subscriber and to represent the subscriber, to submit the application, and to accept the terms and conditions stipulated in the Prospectus and in the subscription form; and • The original and a copy of the passport/Emirates ID of the signatory.
Abu Dhabi	Main Branch Abu Dhabi Al Ain Branch
Sharjah & Northern Emirates	Halwan Branch Ajman Kalifa Bin Zayed Ras Al Khaimah Branch Fujairah Branch

Region

Participating Branches

Documentation Requirements

Dubai

Healthcare City Branch
Nad Al Hamar

For Individuals:

The original and a copy of a valid passport or Emirates identity card; and

In case the signatory is different from the Subscriber:

• The duly notarised power of attorney held by that signatory or a certified copy by UAE-regulated persons/bodies, such as a notary public, or as otherwise duly regulated in the country;
• The original passport/Emirates ID of the signatory for verification of signature and a copy of the original passport/Emirates ID; and
• A copy of the passport/Emirates ID of the Subscriber for verification of signature.

In case the signatory is a guardian of a minor, the following will be submitted:

• Original and copy of the guardian’s passport/Emirates ID for verification of signature;
• Original and copy of the minor’s passport; and
• If the guardian is appointed by the court, original and copy of the guardianship deed attested by the court and other competent authorities (e.g. notary public).

For Corporates:

UAE-registered corporate bodies:

• The original and a copy of a trade license or commercial registration for verification or a certified copy by one of the following UAE-regulated persons/bodies; a notary public or as otherwise duly regulated in the country;
• The original and a copy of the document that authorises the signatory to sign on behalf of the subscriber and to represent the subscriber, to submit the application, and to accept the terms and conditions stipulated in the Prospectus and in the subscription form; and
• The original and a copy of the passport/Emirates ID of the signatory.

Abu Dhabi

Main Branch Abu Dhabi
Al Ain Branch

Sharjah &
Northern Emirates

Halwan Branch
Ajman Kalifa Bin Zayed
Ras Al Khaimah Branch
Fujairah Branch

*Customers should have a Valid NIN with DFM for participation.

For more information on the DFM National Investor Number (NIN) and how to apply for one, please visit the DFM website at www.dfm.ae/ or access the DFM FAQs at assets.dfm.ae/other/faqs.

Click here to view our Branch locations.

2. Bank ATMs

Steps to apply:

Enter your debit card and pin number
Select the IPO subscription option from the main screen and select du IPO
Enter a valid DFM NIN number
Select the eligible account number to be debited
Enter the amount to invest
Select the broker if any
The confirmation screen will show the IPO application number and reference number

3. Mobile Applications

Steps to apply via EI + Mobile Banking App:

Login to the app
Select the option Transfer and Pay
Select the option IPO Subscription
Select IPO Name
Select Category/Tranche
Enter Investor Number
Agree to Terms and Conditions
Select broker name and enter the amount
Confirm the details on summary screen
Authorise using SmartPass pin

Please ensure that the Mobile Application has been updated to the latest version.

Download the new EI + Mobile Banking App:

For Non Emirates Islamic customers (Via Participating Branches only):

Certified bank cheque (Manager’s cheque) drawn on a bank licensed and operating in the UAE, in favour of "du IPO"; and for the investment amount
Valid DFM NIN
Identification documents as listed above

To find out more about the subscription criteria and process, please visit: www.du.ae/secondary_public_offering.

Disclaimer: This announcement has not been reviewed or approved by the SCA, or any regulator in the UAE or elsewhere, does not form part of the Prospectus, and should not be considered an offer of securities in any jurisdiction. Any decision to invest in the units should be based solely on the information in the Prospectus.

Financing Options

Indicatively Emirates Islamic is offering its existing customers a 1:5 financing for this issue. Pre-approval is required, terms & conditions apply. Please contact your Relationship Manager to discuss financing options.

For further questions related to this offering please visit www.du.ae/secondary_public_offering for further details.

Final allocation of shares is at the discretion of the issuer.

To apply for Financing, please click here.

Disclaimer: This announcement has not been reviewed or approved by the SCA, or any regulator in the UAE or elsewhere, does not form part of the Prospectus, and should not be considered an offer of securities in any jurisdiction. Any decision to invest in the units should be based solely on the information in the Prospectus.