ADNOC Drilling Company PJSC announced shareholder approval of new progressive dividend policy at its General Shareholder Meeting. The new, progressive policy will see dividends grow by at least 10% per annum on a dividend per share basis over the next five years (2024-2028). The expected cumulative minimum yield from the new policy in the period 2024-2028 is more than 27%1 Furthermore, the Board of Directors, at its discretion, may approve additional dividends over and above the progressive dividend policy after considering free cash flow accretive growth opportunities.

Dividends are expected to be paid semi-annually with a final dividend distributed to shareholders in the first half, and the payment of the interim dividend in the second half of each fiscal year.