First Abu Dhabi Bank served as Sustainability Coordinator for the $1.25 billion SLL deal that Majid Al Futtaim was able to close

The deal was headed by First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates and one of the largest and safest financial institutions in the world. Majid Al Futtaim has established Sustainability Performance Targets (SPTs) that will be evaluated annually for the duration of the facility's use as part of the company's comprehensive approach to sustainability. With this new facility, Majid Al Futtaim has become the largest SLL borrower in the region, and it remains the sole "penalty-only" borrower in the region, proving the firm's dedication to meeting measurable sustainability goals.

Ziad Chalhoub, CFO of Majid Al Futtaim Holding, has said, "Sustainable finance choices are a critical solution in the drive to ensure the private sector generates a resilient economy and promotes development that fulfils the requirements of the present without compromising the future." The decision made today continues Majid Al Futtaim's long-standing dedication to become one of the most sustainably mindful businesses in the area and the world. By implementing the new SLL, we are increasing transparency and responsibility for the Group's operational and capital budgets. Our long-term strategic goal is to achieve a Net Positive business model by 2040, and by signing this second SLL in as many years, we are bringing our activities into alignment with that goal.

"We are happy to lead this transaction with Majid Al Futtaim and to support a prominent UAE business in attaining its ambitious sustainability ambitions," said Mustafa Al Khalfawi, Head of Global Banking UAE & Global Head of Government, Sovereigns & Public Sector at FAB. Since issuing the first green bond in the GCC in 2017 and the first bank in the UAE to pledge to reaching net-zero greenhouse gas emissions throughout our operations and portfolio, FAB has established itself as the leading bank in the region for unlocking new sustainable finance solutions. Banking facilities tied to environmental responsibility are in high demand in the United Arab Emirates and the Gulf Cooperation Council (GCC), and we are closely collaborating with our clients to achieve beneficial environmental outcomes.

The structure of the facility is based on three Key Performance Indicators (KPIs), each of which will be evaluated annually by an outside party. The facility's key performance indicators are ambitious and fundamental to Majid Al Futtaim's operations, and they are in line with the Sustainability Linked Loan Principles issued by the Loan Market Association (LMA).

Majid Al Futtaim's science-based targets (SBTi) call for a net-positive reduction in the Scope 1 and 2 emissions intensity of the company's controlled square footage by the year 2040.

With the goal of having all of its shopping centres certified as LEED Gold or higher by 2026. And by 2027, the Company plans to have more of Majid Al Futtaim's shopping centres certified as LEED Platinum or equivalent by setting that goal.

Meeting or exceeding the Company's existing SLL goal of 30% female representation on the board, senior executive team, and senior management team by 2027.