External broker reports(aggregated public sources), International Securities

International Securities

International Securities’ equity research analysis and advisory have been a vital source of market intelligence for our distinguished clients over the years. The equity research team’s main objective is to cover listed equities and to provide thoughtful, insightful, differentiated and timely research that can help clients make informed decisions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>ADNOC Gas reported 1Q24 core profit of USD1</li><li>19bn, up 22% YoY (-6% QoQ)</li><li>The YoY jump in profits is led by 14% higher sales volumes as well as higher margins on domestic sales</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

ADNOC Gas reported 1Q24 core profit of USD119bn, up 22% YoY (-6% QoQ)The YoY jump in profits is led by 14% higher sales volumes as well as higher margins on domestic salesContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ADNOC Gas: 1Q24 Core Earnings up 22% YoY (-6% QoQ) To USD1.19bn, Higher than Estimates

Adnoc Gas

ADNOC Gas: 1Q24 Core Earnings up 22% YoY (-6% QoQ) To USD1.19bn, Higher than Estimates