ADNOC statement on the potential merger between Borouge and Borealis

Abu Dhabi National Oil Company (ADNOC) S.A.C. Through the proposed merger of their existing shareholders in Borouge plc (“Borouge”) and Borealis AG (“Borealis”).

Borouge is listed on the Abu Dhabi Stock Exchange, 54% owned by ADNOC, 36% owned by Borealis, and 10% owned by individuals and institutions. Borealis is 75% owned by OMV while ADNOC owns 25%.

These negotiations are being conducted by ADNOC as the majority shareholder of Borouge and OMV as the majority shareholder of Borealis, with any final decision subject to the governance processes of Borouge and other relevant parties.

The potential merger would represent the next transformative phase in ADNOC’s ongoing value creation and chemicals growth strategy, with any deal subject to the usual regulatory approvals.

ADNOC will provide further material updates as and when required.

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