August 2020 2 DISCLAIMER

THIS PRESENTATION DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, AN OFFER TO SELL OR TO ISSUE ANY SECURITIES OR SOLICITATION OF AN OFFER TO PURCHASE, SUBSCRIBE OR SELL SECURITIES IN ANY JURISDICTION OR AN INDUCEMENT TO ENTER INTO INVESTMENT ACTIVITY. IT IS SOLELY FOR USE AS AN INVESTOR PRESENTATION AND IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. THE PRESENTATION DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS MATERIAL TO AN INVESTOR.

By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the limitations set out below.

Neither DP World Limited ("DP World") nor any other person or party is under any obligation to update or keep current the information contained herein. Whilst DP World has taken reasonable care to ensure that the information contained in this presentation is accurate at the time of last revision, no reliance may be placed for any purpose whatsoever on the information contained in this presentation, or any other material discussed verbally, or on its completeness, accuracy or fairness. Accordingly, DP World and each of its subsidiaries, associates, affiliates and each of their respective directors, officers, employees, agents and representatives (together, the "Relevant Entities") expressly disclaims any liability for any loss howsoever arising out of or in connection with a recipient's use of, or reliance on, or otherwise arising in connection with, this presentation. No representation or warranty or undertaking, express or implied, is given by or on behalf of any Relevant Entity or any other person in respect of the completeness, accuracy or fairness of the information contained in this presentation.

Certain information in this presentation is of a historical nature and may now be out of date. All historical information should be understood as speaking from the date of its first publication. In addition, this presentation contains statements about future events and expectations that are forward-looking statements that reflect DP World's current intentions, beliefs or expectations. No forward-looking statements should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such forward-looking statements have been prepared are correct or exhaustive or, in the case of assumptions, fully-stated in this presentation. Neither DP World nor any other person assumes any obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

This presentation should not be construed as the giving of advice or the making of a recommendation and should not be relied on as the basis for any decision or action. In particular, actual results and developments may be materially different from any opinion or expectation expressed in this presentation. This presentation and its contents are restricted and are being provided to you solely for your information and may not be taken away, re-transmitted, further distributed to any other person, published or reproduced, in whole or in part, by any medium or in any form for any purpose without the prior written consent of DP World. If handed out at a physical investor meeting or presentation, this presentation should be returned promptly at the end of such meeting or presentation. If this presentation has been received in error it must be returned immediately to DP World.

The opinions and information presented herein are based on general information gathered at the time of writing and are subject to change without notice at any time. Past performance is not necessarily indicative of future results. For industry-related information, DP World relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness and no representation or warranty, express or implied, is made with respect thereto.

This presentation is not intended to provide the basis for any credit or any third party evaluation of DP World and should not be relied upon for investment decision purposes. 3 OUR JOURNEY FROM LOCAL PORT Supply Chain Solution OPERATOR TO SUPPLY CHAIN SOLUTION Global 2005 - 2017 Provider PROVIDER 2018 - Present

2005/6. CSX World Terminals and The Maritime City and Drydocks World Local Port Operator Regional Port Operator Peninsular & Oriental Steam Navigation acquisitions (UAE). Company (P&O) acquired. Global network and 1972 - 1998 1999 - 2004 market position increased. Created investment platform with NIIF to invest up to US$ 3bn in ports, logistics and 2007. DP World lists on Nasdaq Dubai. related sectors in . 1972. Development of Port Rashid (UAE). 1999. Dubai Ports International FZE (DPI) formed. 2013. Opening of (UK) deep Acquisition of Cosmos Agencia Maritima, a 1979. Opening of Port (UAE). sea port and logistics park. fully integrated logistics services provider 2000. Concession won in (KSA) and (). 1991. Port Rashid and Jebel Ali combine Doraleh (). 2014. Opening of Jebel Ali Terminal 3 (UAE), creating Dubai ports Authority (DPA). one of the largest semi-automated facilities in Acquisition of Continental Warehousing 2002 – 2004. Concessions won in the world. Corporation (India) an integrated multimodal Visakhpatnam (India), Constanta () logistics company. and Cochin (India). 2015. Economics Zones World FZE (EZW) acquired. Acquisition of Unifeeder, an integrated logistics company with the largest and best 2016. Consolidated stake in Pusan Newport connected feeder and growing shortsea () with 66% ownership. network in Northern Europe.

2017. Consolidate DP World Santos Acquisition of Topaz Energy and Marine () with 100% ownership. Limited, a leading international marine logistics services and solutions company to the global energy industry.

De-listed from .

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 4 SUPPLY CHAIN SOLUTION PROVIDER – FULLY INTEGRATED ACROSS THE SUPPLY CHAIN

Extending the core Connecting directly Providing technology Improve business to play a wider with cargo owners & led solutions to remove quality of earnings role in the supply chain aggregators of demand inefficiencies and drive returns

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 5 DP WORLD PORTS OVERVIEW

Global network of 9 new 55% of total revenue 127 business units 9% market developments generated by port 51 countries across share and major expansions operations DP World manages 95 million TEU capacity 6 continents

Approximately 75% of our volumes Strong presence in generated from emerging or Diversified key East- West trade frontier markets in 2019 portfolio DP World focuses on the faster growing route markets and key trade routes

Over 70% of our gross volumes Shipping lines do not dictate our were O&D in 2019 and have to go volumes – imports and exports do DP World focuses on origin and destination through our ports cargo which has pricing power

Average life of port Very high concessions is DP World operates container terminals through barriers to entry approximately 36 years long term concession agreements

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development Innovation 6

❑ Intelligent yard system storing containers 11 stories high. ❑ Each container individually ❑ Delivering goods at accessible: significant the speed of air improvements in efficiency, transport and the capacity and safety. cost of land ❑ Proof of Concept under transport. construction in Jebel Ali, commercial roll out from 2020 to DPW & other port operators.

Mawani Portal CFS Freight Transport Blockchain Initiative Operators Forwarders Companies

❑ Blockchain is an open source technology that can support supply chain solutions. ❑ DPW to develop a suite of Exporters & Customs Government solutions for BCOs addressing Importers pain points and offering a range of value propositions. ❑ DPW to integrate port and other logistics infrastructure Shipping Terminal Port into solutions for BCOs. Lines Operators Authority

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development20 REVENUE DIVERSIFICATION* OVER TIME 7

2014 2017 2019

80% 70% 55% Containerized Containerized Containerized

20% 30% 45% Non-containerized Non-containerized Non-containerized

20% 30% 45% 80% 70% 55%

* Rounded figures.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 8 2019 REVENUE AND EBITDA MIX*

2019 REVENUE 2019 EBITDA 15% 35% 55% 70% 15% Ports & Terminals Ports & Terminals 55% 70%

10% 10% 15% Parks & Economic Zones Parks & Economic Zones

35% 15% Logistics & Maritime Logistics & Maritime

* Rounded figures. Does not include land sales.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 9 CLIENT MIX CHANGE

Beneficial Cargo Owners

Traditional Container Customers

▪ Shipping Lines

▪ Automotive ▪ Logistics and Transportation ▪ Oil & Gas ▪ FMCG ▪ Manufacturers ▪ Consumer Staples

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 10 OUR GLOBAL FOOTPRINT 127 BUSINESS UNITS IN 51 COUNTRIES ACROSS 6 CONTINENTS IMF World Economic Outlook Real GDP Growth 2021 Projections

<0

0-4%

4-6%

+6%

EM & Frontier 5.9% Advanced Economies 4.8% World 5.4% 8.2% India 6.0%

Ports & Terminals Parks & Economic Zones Logistics & Maritime Services IMF World Economic Outlook | June 2020

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 11 KEY ENVIRONMENTAL & SUSTAINABILITY INITIATIVES

In 2017, DP World joined the United DP World is rated ‘Low’ ESG Risk by First international marine and inland trade In 2019, DP World scored 54 points in the Nations IMPACT 2030 initiative and Sustainalytics with a score of 14.8 as of services provider to join the renowned DJSI Index, which qualified us for the became Regional Voice Lead for the September 2019. CDP. Emerging Markets Index. The industry UAE. average is 36 and the industry best score is ESG Risk Rating improvement: Achieved overall score of Leadership/ A- in 85. DP World continues to play an active 2019, placing DP World in the top 24% in part in the Transport Taskforce, which o Ranking improved from 4th to 1st in our activity group. DP World is the only company in the region brings together 40 of the world’s the ‘Marine Ports’ sub-industry group, which is in the DJSI Index.. leading wildlife organizations and In 2019, achieved 10% reduction in transport businesses to tackle illegal o Ranking improved from 35th to 21st in emission intensity (kgCO2e/ModTEU) wildlife trade. the ‘Transportation Infrastructure’ against 2013 baseline. industry group.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 12 KEY ENVIRONMENTAL & SUSTAINABILITY INITIATIVES

Green Loan

DP World has satisfied the requirements The DP World Solar Power Programme In 2018, DP World repriced and extended DP World is committed to ensuring that to become a constituent of the phases 1 and 2 include the installation of its $2bn conventional and Murabaha there is no modern slavery or human FTSE4Good Index Series following the 154,000 solar panels on the roofs of DP revolving credit facilities by two years to trafficking in any part of our business and December 2019 index review. World and JAFZA buildings, parking lots, July 2023. The loan pricing is linked to DP to seeking to ensure our supply chains warehouses and at Port Rashid. World’s carbon emission intensity. globally are also free of these issue. Created by FTSE Russell, the FTSE4Good Index Series measures the performance In 2018, the company launched the UAE’s The first green loan in the region with an Issue modern slavery and human of companies demonstrating strong ESG first green storage, passenger terminal Islamic format that links pricing to trafficking statement on an annual basis, practices. and warehouse facilities. environmental performance. pursuant to section 54(1) of the UK Modern Slavery Act 2015.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 13 GLOBALISATION AND THE GROWTH OF THE CONTAINER

Why does a multiplier exist? Container Ports Characteristics

o Distance between manufacturing and consumption location requires o Resilient volumes, high cash generation, and limited operators. transhipment which leads to containers being handled more than once. o Light regulation – cost of container handling is less than 10% of total transport o Trade imbalance leads to empty repositioning. logistics.

o Low container penetration rates in emerging markets. o High entry barriers – capital expenditure heavy, strategic assets.

15%

10%

More than 90% of cargo 5% is transported on Sea

0%

World container traffic vs.

2002 2003 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

1991 World GDP 2021F -5% 2020F

-10% Source: World GDP data from the IMF World Economic Outlook Update June 2020. Global Container Throughput Growth data reported from Drewry Maritime Research May 2020 Report.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 14 CONTAINERISATION PENETRATION RATES REMAIN LOW

Container / Thousand Capita 2018 Port Throughput Estimated Population in 2018 Region / Country in 2018 (mn TEU) (mn People) (TEU /’000 people)

China 244 1,397 175

UK 10 66 158

North America 68 490 138

Europe 136 1,016 133

World 784 7,447 105

Latin America 48 556 86

Brazil 10 209 49

Russia 5 144 35

Africa 28 1,136 24

India 17 1,327 13

Notes: o Port throughput figures include gateway and transshipment volumes o Significant volumes of unitized traffic also moved in ro-ro mode in some countries e.g. UK Source: Drewry Maritime Research 2018 Anniual Report

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development MAINTAINING DIFFERENTIATION FROM TERMINAL OPERATING PEERS: 15 TOP 5 GLOBAL OPERATORS 2018 2018 2018 Operator Capacity Equity TEU* Key Focus Throughput Market Share Market Share

o Around 75% of activity generated by emerging markets China Cosco o Mainly focused on China although rapid expansion internationally 105.8 130.0 13.5% 5.9% Shipping o Primarily gateway, limited exposure to transhipment o Large investment in the One Belt and Road initiative

Hutchinson o Significant exposure to transhipment in 82.6 112.0 10.5% 6.0% o High volumes in China, limited in North America & Africa Port Holdings¹ o Exposed to slow growth in Hong Kong cargo

o Significant exposure to transhipment especially in Singapore PSA o Mix of mature & emerging markets, strong home base in Singapore 80.1 112.6 10.2% 7.7% o Limited presence in Africa and North America, limited presence in Latin America International o Increasing portfolio expansion plans (greenfield) and development of capacity at existing locations e.g. Singapore

o Exposed to one shipping line – more than 50% of revenue o Primarily gateway (some transhipment exposure) APM Terminals 78.6 99.7 10.0% 5.5% o Significant presence in mature markets (Europe & North America), no presence in Oceania.

o Primarily origin and destination cargo (70%) with pricing power o Emerging market focus and strong presence in Europe, and North America o High global presence, limited in North America DP World 70.0 89.7 8.9% 5.6%² o Expansion in emerging and mature markets o Only operator with activities in all 12 world regions and remains the leading player in the Middle East by a large margin.

Source: Drewry Maritime Research 2019 Annual Report. *Equity TEU adjusts figures to match the % ownership of terminals, (1) Hutchison figure include HPH Trust volumes (2) DP World equity league ranking: #4 in 2018

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 16 COVID-19 IMPACT

Drewry Global Throughput Forecast (World) Drewry Global Throughput Forecast* (World) 2020-2021 2019-2021 (Million TEU) 25.0% 833 20.0% 802 20.0% 15.0% 15.7% 737 13.0% 10.0% 11.2% 2019 2020 2021 5.0% *Levels represented take into consideration the impact of the coronavirus 5.8%

0.0% o Drewry forecast 8% volume contraction in 2020 and 13% growth in -0.4% -4.9% 2021. -5.0% -8.0% o 2Q2020 and 3Q2020 are expected to be the weakest quarters. -10.7% -10.0% o Volumes to improve as world economy normalises. -15.7% -15.0% o DP World ports remain fully operational globally. o Pro-active safety measures out in place i.e. equipment, social -20.0% distancing, working from home.

1Q20 2Q20 3Q20 4Q20 FY20 1Q21 2Q21 3Q21 4Q21 FY21 o DP World focused on managing costs and disciplined capex.

Source: Drewry Maritime Research, May 2020

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 17 THROUGHPUT OVERVIEW

Gross Volumes 1Q 2019 1Q 2020 1Q 2020 2Q 2019 2Q 2020 2Q 2020 1H 2019 1H 2020 1H 2020 ‘000 TEU (YoY) (YoY) Volume (YoY) (YoY) Volume (YoY) (YoY) Volume

Asia Pacific & India +3.5% -5.8% 7,551 +4.1% -12.2% 7,227 +4.0% -9.0% 14,778

Europe, Middle East and Africa* -4.1% -0.9% 7,332 -1.7% -7.6% 7,153 -2.9% -4.3% 14,485

Americas & Australia -3.7% +10.7% 2,303 +4.4% -0.6% 2,331 +0.4% +4.7% 4,635

Total Group -0.6% -1.7% 17,185 +1.6% -8.8% 16,712 +0.5% -5.3% 33,897

Consolidated Volumes 1Q 2019 1Q 2020 1Q 2020 2Q 2019 2Q 2020 2Q 2020 1H 2019 1H 2020 1H 2020 ‘000 TEU (YoY) (YoY) Volume (YoY) (YoY) Volume (YoY) (YoY) Volume

Asia Pacific & India +2.5% +3.5% 2,384 +8.1% -20.2% 1,900 +5.9% -8.6% 4,284

Europe, Middle East and Africa* -5.7% +0.9% 5,732 -2.4% -8.9% 5,449 -4.1% -4.1% 11,181

Americas & Australia +19.9% +90.3% 2,226 +94.3% +15.2% 2,279 +57.9% +43.1% 4,505

Total Group -0.8% +12.9% 10,342 +10.6% -6.9% 9,628 +4.9% +2.4% 19,970

*Jebel Ali volumes included in Middle East, -8.8% -3.4% 3,373 -6.3% -10.0% 3,300 -7.4% -6.8% 6,673 Africa and Europe region

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 18 KEY CAPACITY ADDITIONS

2019 2020 Year End Capacity New Developments and major expansions Year End Forecast

o () Consolidated Capacity 54.0m TEU o Sokhna () Approx. o Yarimca () 57.5m TEU o Fraser Surrey Docks () o Posorja (Ecuador)

Gross Capacity 92.0m TEU As above Approx. (Consolidated plus equity- accounted investees) 95.0m TEU

o Many of our existing portfolio of terminals have the ability to increase capacity as utilization rates and customer demand increases.

o 2020 expected new capacity: Sokhna (Egypt) 0.7m TEU; Karachi (Pakistan) 0.4m TEU; Yarimca (Turkey) 0.4mn TEU

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 19 OVERVIEW OF 2019 FINANCIAL RESULTS

% change Results before separately disclosed items(1) unless otherwise stated As reported Like-for-like at 2019 2018 USD million % change constant currency(2)

Gross throughput(3) (TEU ‘000) 71,248 71,419 (0.2%) 1.0% Consolidated throughput(4) (TEU ‘000) 39,930 36,760 8.6% (0.5%) Revenue 7,686 5,646 36.1% 2.3% Share of profit from equity-accounted investees 153 165 (7.1%) (2.2%) Adjusted EBITDA(5) 3,306 2,808 17.7% 0.5% Adjusted EBITDA margin(6) 43.0% 49.7% - 49.6%(7) Profit for the period 1,341 1,333 0.6% 5.0% Profit for the period attributable to owners of the Company 1,328 1,270 4.6% 5.4% Profit for the period attributable to owners of the Company after separately disclosed items 1,189 1,297 (8.3%) - Basic earnings per share attributable to owners of the Company (US cents) 160.0 153.0 4.6% - Ordinary dividend per share (US Cents) 40.0 43.0 - -

1. Before separately disclosed items (BSDI) primarily excludes non-recurring items. DP World reported separately disclosed items loss of $146.9 million in 2019. 2. Like-for-like at constant currency is without the new additions at Puerto Central and Puerto Lirquen (Chile), P&O Ferries and Ferrymasters (UK), Topaz Marine & Energy (UAE) and Posorja (Ecuador). For the acquisitions made during the year 2018, i.e., Continental Warehousing (India), Cosmos Agencia Marítima (Peru) and Unifeeder (Denmark), and Discontinuation of (), Doraleh (Djibouti) and (China), a similar period is compared in 2019. The consolidation results of DP World Australia in 2019 is compared with similar period in 2018. The impact of IFRS 16 is given effect from 1st Jan 2018 for like-for-like. 3. Gross throughput is throughput from all consolidated terminals plus equity-accounted investees. 4. Consolidated throughput is throughput from all terminals where the Group has control as per IFRS. 5. Adjusted EBITDA is Earnings before Interest, Tax, Depreciation & Amortisation and including share of profit from equity-accounted investees before separately disclosed items. 6. The adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue. 7. Like-for-like adjusted EBITDA margin.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 20 CONTINUED GROWTH IN 2019

Continued revenue and EBITDA growth Strong balance sheet and cash generation

o Reported revenue growth of 36.1 % supported by acquisitions and o Free cash flow (post cash tax maintenance capital expenditure and pre- growth in non-containerized revenue. dividends) amounted to $2,058 million. o Like-for-like revenue increased by 2.3% driven by 16.0% growth in non- o Raised $2.3 billion through issuance of long-term bonds at record low rates container revenue. to remove refinancing risk. o Adjusted EBITDA grew 17.7% and achieved an EBITDA margin for the full o Net leverage stands at 3.9 times post IFRS 16 and is 3.37 times on a pre-IFRS year of 43.0%. 16 basis. o Like-for-like adjusted EBITDA margin was at 49.6%. o Committed to Strong investment Grade rating in the medium term

Continued investment in high quality Solid earnings growth long-term assets

o Capital expenditure in 2019 was $1,146 million (below our guidance of $1.4 o Strong adjusted EBITDA growth resulted in a 4.6% increase in profit billion) as we maintain a disciplined approach to deploying capital. attributable to owners of the Company before separately disclosed items o In 2019, gross global capacity was at 92 million TEU. Consolidated capacity on a reported basis and 5.4% growth on a like-for-like basis at constant was at 54 million TEU currency. o We expect capital expenditure in 2020 to be up to $1.4 billion with o Ordinary dividend at 40 US cents. investment planned mainly into UAE, Prince Rupert (Canada), London Gateway (UK), Jeddah (), (Peru), Sokhna (Egypt), () and Maritime Logistics.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 21 REVENUE BREAKDOWN

$9,000 Container 'Stevedoring' Container 'Other' Non-Container (excl. Lease Revenue) $8,000 Lease Revenue & related services Sale of plots 401 o Revenue growth as $7,000 579 reported is 36.1%.

$6,000 132 o Like-for-like revenue 598 3,154 $5,000 growth of 2.3%. 586 $4,000 1,479 419 554 822 Lease Revenue includes 802 760 $3,000 742 1,419 623 710 650 1,450 1,450 income from Jebel Ali 1,240 1,315 $2,000 973 1,045 1,027 1,166 Free Zone and . $1,000 1,857 1,991 2,133 1,382 1,366 1,397 1,503 1,507 1,535 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019

o Revenue growth of 36.1% driven by acquisitions including P&O Ferries (UK), Topaz Energy & Marine Group (UAE) and the two terminals in Chile (Puerto Central and Puerto Lirquen) as well as the full year impact from Continental Warehousing Corporation (India), Cosmos Agencia Maritima (Peru) and Unifeeder (Denmark) and the consolidation of Australia region. o Like-for-like revenue increased by 2.3% driven by 16.0% growth in non-container revenue.

* Like-for-like at constant currency

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 22 DP WORLD KEY FINANCIAL METRICS

$ million 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Gross Throughput (TEU mn) 43.4 49.6 54.7 56.1 55.0 59.9 61.7 63.7 70.1 71.4 71.2 Consolidated Throughput (TEU mn) 25.6 27.8 27.5 27.1 26.1 28.3 29.1 29.2 36.4 36.8 39.9 Revenue 2,821 3,078 2,978 3,121 3,073 3,411 3,968 4,163 4,715 5,646 7,686 Adjusted EBITDA 1,072 1,240 1,307 1,404 1,414 1,588 1,928 2,263 2,469 2,808 3,306 EBITDA margin 38.0% 40.3% 43.9% 45.0% 46.0% 46.6% 48.6% 54.4% 52.4% 49.7% 43.0% Leverage (Net Debt / EBITDA) 4.7 4.2 2.7 2.0 1.7 1.3 3.2 2.8 2.5 2.8 3.9* PAT 332.7 450.1 531.7 624.8 674.2 756.7 969.9 1,259.5 1,362.5 1,332.8 1,341.4 EPS (USD cents) 35.6 45.0 55.3 65.7 72.8 81.4 106.3 135.7 145.6 153.0 160.0 ROCE % 3.8% 4.4% 6.0% 6.8% 6.7% 7.1% 7.9% 9.5% 8.8% 8.4% 7.5% Interest cover x 3.8 4.4 4.5 4.7 5.0 5.6 5.0 6.7 7.5 6.5 4.6 Capex 967 1,129 481 685 1,063 807 1,389 1,298 1,090 908 1,146 Acquisition & Monetisation 142 0 (1,504) (374) (637) 83 4,100 174 300 2,500 3,100 Consolidated Terminal Capacity (TEU mn) 34.4 35.1 33.6 34.7 35.2 37.9 40.1 42.4 49.7 49.7 54.2 Gross Capacity (TEU mn) 59.7 64.1 69.4 69.7 70.7 76.1 79.6 84.6 88.2 90.5 91.8 Gross Capacity Utilisation 72.7% 77.3% 78.8% 80.4% 77.8% 78.7% 77.5% 75.2% 79.5% 78.9% 77.6%

* Post IFRS16

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 23 HISTORICAL OPERATING PERFORMANCE

9,000 80

8,000 70

7,000 REVENUE 60

6,000 50

5,000 TEU m 40

USD m USD 4,000 EBITDA 30 3,000

20 2,000 PAT

1,000 10

0 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Gross Volumes

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 24 2019 RETURN ON CAPITAL EMPLOYED

˃ 15% ROCE : 27% 5 - 15% ROCE : 37% ˂ 5% ROCE : 36%

100.0% Capital Employed 80.0%

60.0% ❑ Variable costs increased to 66.2% in 2018 from 63.3% in 2017. 40.0%

❑ Cost breakdown remainsMedium the Term same Target as of 152018% with ROCE 20.0% payroll and concessions representing about 60% of total costs. 0.0% DP World Terminals -20.0%

-40.0%

o ROCE was at 7.5% in 2019 from 8.4% in 2018. o Approximately 30% of our capital employed delivers returns in excess of 15%. o Newer operations or investment in pre-operational businesses reduces Group ROCE. o Includes all DP World consolidated operations and our equity-accounted investees.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 25 DEBT POSITION

$ Million 31 Dec 2019 31 Dec 2018 (+) Interest Bearing Debt 13,281 10,397 (+) IFRS 16 Lease Liability 2,513 N/A (=) Total Debt 15,794 10,397 (-) Cash Balance 2,943 2,615 (=) Net Debt 12,851 7,782 Net Debt excluding IFRS16 10,300 7,782

Net Debt / Adjusted EBITDA pre IFRS 16 3.4x 2.8x Net Debt / Adjusted EBITDA post IFRS 16 3.9x N/A

Interest Cover pre IFRS 16 5.3x 6.5x Interest Cover post IFRS 16 4.6x N/A

o Well matched debt profile with long-term debt to meet long-term nature of our business. o Successfully executed multi-tranche bond transaction to raise $2.3bn of long term finance o Highly cash generative business - generating cash from operations of $2,462 million and a cash balance of $2,943 million.

o Leverage of 3.37 times (adjusted net debt to adjusted EBITDA) Pre IFRS 16. o DP World is guarantor of a further US$6.4 billion of net debt o DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 26 IFRS 16 IMPACT

$ Million 2019

Income Statement

EBITDA 236.0

Net finance costs (136.5)

Amortisation Expense (146.2)

Profit after tax (46.7)

Balance Sheet

Right of use assets 2,081

Gross debt 2,513

o Net profit after tax reduction of $46.7 million o Gross debt increases by $2.5 billion

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 27 DEBT MATURITY PROFILE

4000

3,400

3,000 3000

2000 1,750

1,500 1,300 1,200 1,000 1,000 1000 842 697 500 535 538 500 421 389 462 254 175 161 170 194 76 72 18 68 68 51 26 17 0 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2037 2039 2048 2049

Sukuk MTN Bank Loans and Others PFZW Loan (Guaranteed by DPW) Perpetual hybrid Sukuk (First Call Date) Convertible (Put in 2020)

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 28 DP WORLD DEBT

700 Spread Over Mid-Swaps

600 DPW 3.908 MAY23's USD DPW 6.000 PERP USD

500 DPW 2.375 SEP26's EUR DPW 4.848 SEP28's USD DPW 3.875 JUL29's USD 400 DPW 3.750 JAN30's USD DPW 4.250 SEP30's GBP 300 DPW 6.850 JUL37's USD DPW 5.625 SEP48's USD 200 DPW 4.700 SEP49's USD

100

0 Jun 18 Oct 18 Feb 19 Jun 19 Oct 19 Feb 20 Jun 20 Source:Source: Bloomberg Bloomberg as of June 2020

o On 30 April 2020, Moody’s has placed DP World’s Baa1 rating on review following the announcement that Port and Free Zone World FZE has made an offer to DP World’s minority shareholders to acquire the outstanding shares and delist. o On 16 June 2020, Fitch Ratings has downgraded DP World Long-Term Issuer Default Rating to 'BBB-' from 'BBB' and Short-Term IDR to 'F3' from ‘F2’ with stable outlook. The rating action follows the progression of the taking private of DPW

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 29 KEY PORT DEVELOPMENTS

TIS Container Terminal (Ukraine) Fraser Surrey Docks (Canada) DP World agrees to acquire a 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. FSD is a multipurpose terminal which handles The port is a deepwater multipurpose terminal containers (400k TEU capacity), steel and agri-bulk. ideally located to serve the strong domestic market, Belarus and Eastern Europe. The acquisition gives DP World the ability to further diversify cargo mix with a focus on non- The acquisition is expected to close in H1 2020. container cargo.

Berbera (Somaliland) Posorja (Ecuador)

Strategically located to serve east Africa Opened in August 2019 with 0.75m TEU capacity. including . Expanding capacity from 0.15 million TEU to 0.55 million TEU. Only deep-water port in the fast growing container market of Ecuador

DP World Australia (Australia) Puertos y Logistica (Chile) DP World raised its holding in DP Puertos y Logistica S.A. (“Pulogsa”), a leading World Australia (DPWA). port operator in Chile with two terminals; Puerto Central (“PCE”) and Puerto Lirquen (“PLQ”). Australia remains a stable market with an opportunity to grow in logistics

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 30 KEY LOGISTICS & MARITIME DEVELOPMENTS KRIBHCO Infrastructure Limited (INDIA) KRIL operates three major Inland Container Depots/Private Freight Terminals at Pali, Haryana; Modinagar, Uttar Pradesh and Hazira, P&O Ferries (UK) Gujarat and has container train operations with a pan India outreach. KRIL has a strong presence in the National Capital Region (NCR), P&O Ferries is a pan-European integrated logistics business consisting of a which is India’s largest Import/Export market with a population of market leading roll-on-roll-off (Ro-Ro) ferries operation and a European over 46 million, including a terminal located on a notified double transportation and logistics solutions provider (P&O Ferrymasters). stack route.

P&O Ferries handles over 2.5 million freight units per year which accounts for approx. 75% of group revenues. Feedertech (Singapore)

Unifeeder, acquired a 77% stake in Feedertech Group. Feedertech operates two businesses, Feedertech, an Topaz (Caspian, MENA & Africa) independent feedering service and Perma, a regional short-sea network. Topaz is a leading international provider of critical marine logistics and solutions to the global energy industry. The Company operates a modern and versatile fleet of 117 vessels, predominantly in the Caspian Sea, MENA, Continental Warehousing and West Africa regions. Corporation (India) DP World and NIIF joint venture acquired 90% of Continental Warehousing Corporation (CWC) in India.

CWC is a leading integrated multimodal logistics Unifeeder Group (Denmark) provider of Warehousing, Container Freight Stations (CFS), Inland Container Depots (ICD), Private Freight Unifeeder operates the largest and most densely connected common user Terminals (PFT) and integrated logistics solutions. container feeder and an important and growing shortsea network in Europe.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 31 DP WORLD CHILE

Reasons for DP World to invest

DP World Chile owns two multipurpose seaport assets; A. Puerto Central (PCE) concession in San Antonio, V Region, and B. Both PCE & PLQ handle gateway cargo, and would allow DP World to Lirquen port (PLQ) which serves mainly forestry product exports serve cargo owners and shipping lines at five key gateways on the west in the VIII Region. coast of South America in Posorja (Ecuador), Callao and Paita (Peru) and San Antonio and Lirquen (Chile).

Pulogsa concession in the San Antonio bay is for a 20 year period Chile is an investment grade (A1/ Stable) country with strong GDP with the option to extend it until 2041. growth.

o Pulogsa is one of the largest and the most modern container PCE is the most modern terminal in the Santiago region (>50% national ports in Chile. cargo demand) and expected to maintain a favorable supply/demand balance. PLQ is a freehold asset. o PCE’s total capacity of 1.15m TEUs and the port facility counts with direct connectivity to Santiago through modern highways and railway. A

B Puerto Lirquen is located near the main productive center of Southern Chile, serving blue-chip forestry and pulp clients who ensure stable export demand

o PLQ is amongst the largest private public-access ports in Chile, benefiting from the largest storage in the VIII Region

• Acquired in January 2019

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 32 P&O FERRIES & FERRYMASTERS

Port / Terminal / Hub

Helsinki Hanko Core Asset Areas Oslo St. Petersburg Stockholm Talinn Ferry Routes

Gothenburg Chartering Train Services

Cairnryan Larne / Belfast Riga Shuttle Services Teesport Dublin Malmö Road Shunts Klaipeda Cork Hull Liverpool New Services 2019

Lübeck Rostock Harwich Tilbury Europoort Dover Poznan Zeebrugge M CalaisCalais Duisburg Dourges Lovosice

Ostrava

Budapest Oradea

Trieste Bilbao Segrate Novara Piacenza Ploiesti Toulon Constanta Perpignan

Barcelona Madrid

Pomezia Pendik (Istanbul) European Nola Bari Patras Network Mersin

• Acquired in February 2019

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 33 TOPAZ ACQUISITION STRENGTHENING DP WORLD’S MARINE SERVICES OFFERING

117 281 Fleet Number of ships (primarily OSVs) (primarily tugs/barges and other small vessels)

US$349m US$230m Revenue Revenue FY18 financials Revenue and EBITDA US$190m US$80m EBITDA EBITDA

Africa S. America 10% 14% MENA FY18 revenue split by 13% Geographic exposure Caspian operational location 45% EMEA 50% Australasia & PNG Solutions 36% 32%

• Acquired in July 2019

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 34 FEEDERTECH ACQUISITION – TRANSACTION OVERVIEW

o Acquired 77% stake in Feedertech Group.

o Established in 2003 and based in Singapore, Feedertech operates two businesses: Feedertech (an independent feedering service) and Perma (regional short-sea network).

o Feedertech Group will broaden DP World’s Group feedering and short-sea product offering to multiple geographies.

o Further enhance DP World’s logistics capability to offer an end-to-end solution to both the shipping lines and cargo owners. Feedertech Perma

Port-to-port operations through VSAs/consortium with Pier-to-pier operation through customized services which Main-Line Operators (MLO). primarily relies on Feedertech. o No owned vessel. Utilizes 11 services (ISC – Middle East drives c.52% of o The company has 5 service routes in Indian volumes; Far East & Southeast Asia drives 32%; Africa Subcontinent and Far East regions. drives 4%; remaining is reefer or special services).

• Acquired in December 2019

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 35 DUBAI - SERVES A WIDE REGION #8 Trading Across Borders 2019 (World Bank) - MENA region

Midway between Asia & Europe #16 o Jebel Ali Port is 11th largest port worldwide Trade gateway for GCC, ISC & Africa with o 19.3 million TEU capacity (2018) population access of over 2bn Globally in Ease of Doing Business Report o Sea connectivity: 180+ shipping lines, 80+ Logistics hub for Arabian Gulf 2020 (World Bank) and ranked #1 in Arab weekly services, 140+ direct ports of call Host to the World countries for 7th consecutive year

o World's busiest international airport o 87.9 million passengers in 2019 DUBAI o Handled 2.6m tons air freight in 2019. o DWC: Dubai’s emerging cargo airport o Customs bonded corridor connects sea-air box $373 trn non-oil foreign trade (2019) within 45mins of discharge Largest domestic market in the region non-oil trade worth $99 o Rail network in GCC by 2020 bn (2019) o Etihad Rail (UAE) will span 1,200 kms o 75 Kms of Metro #5 o Tramway of 14 kms Global Connectedness Index 2018 (DHL) o Etihad Rail will have a depot within Jebel Ali facility, connecting UAE to GCC Pro-business government o Connected to the main UAE/GCC road Rapidly growing trade and services sectors network – 2 to 3 days road transit to Cosmopolitan city with high standard of living anywhere in the GCC. Excellent healthcare & educational services Diverse living environment, over 200 nationalities #9 Secure environment 2019 Economic Freedom Index – Global ranking and Rank #1 in the Region

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 36 JEBEL ALI PORT & FREE ZONE (JAFZ) Integrated One Stop Shop for Business Solution

Facilitates trade Over 7,900 Over 135,000 (2019) worth customers from Jobs sustained 140 countries $99 Bn

One of the largest Main Logistics & Spans 57 sq km Business Trade Hub for Communities the region in the region

Operate in an Multimodal Connectivity Integrated Jebel Ali Port, Al Maktoum Intl. Airport, One-Stop-Shop Etihad Railway, Regional Highways

Access to 3 Bn+ Over 350 logistics companies. 8 out of the people in the 10 largest logistics companies in the world MEASA region have their Regional base in JAFZA

Over 100 Dubai Logistics Corridor Sea – air Fortune 500 customs bonded corridor companies

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 37 UPDATE ON FREE ZONE

Occupancy Rates %

100% 99% 100% 94% 95% 94% 95% 95% 92% 90% 90% 90% 89% 89% 88% 90% 87% 87% 85% 84% 83% 84% 84% 83% 80% 80% 80% 77% 77% 82% 73%

70% 66% 67%

60% Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19

Land Warehouse Office On-Site Residential

Trading remains in Over 550 new companies registered line with during 2019 and total number of expectations companies exceeds 7,900.

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 38 DP WORLD INDIA OVERVIEW

DP World is one of the largest solution providers in Port Terminal ICD/PFT Facility South Asia. CFS Facility Cold Chain Facility FTWZ Facility Under development DP World has created a wide network of logistics assets in India including CFSs, ICD Panipat PFTs, Cold chain facilities, road and rail transportation networks.

India Transportation Growth Forecasts Sahibabad, o India Container Terminal CAGR 8-10% Delhi NCR o Container Freight Station (CFS) and Inland Container Depot (ICD) CAGR 10-12% o Private Freight terminal CAGR 30-35%

Ahmedabad Mundra Surat 6 2 Free Trade Port Terminals Mumbai Warehousing Zones 6 Hyderabad 5 Cold Chain Container Freight Facilities Stations (Winter Logistics) Bangalore 3 4 Inland Container Depots/ Inland Container Depots Vallarpadam Private Freight Stations (Kribhco Infrastructure Ltd)

Tuticorin

DP World Overview ESG Container Industry Overview Throughput and Financials Business Development 39 INVESTOR RELATIONS APP

https://www.myirapp.com/dpworld/ Investor Relations Contact

Redwan Ahmed Email: [email protected]

Amin Fikree THANK YOU Email: [email protected] Investor Relations Email: [email protected]