DAMAC - Assignment of Moody's First-time Credit Rating of the Group

Moody’s Investors Service has today assigned a Ba2 corporate family rating (CFR) and Ba2-PD probability of default rating (PDR) to Damac Real Estate Development Limited. Concurrently, Moody's has also assigned a Ba2-backed instrument rating to the proposed benchmark-sized senior unsecured sukuk of DAMAC.

Moody’s Press Release is available via the link and attached for your convenience:

https://www.moodys.com/research/Moodys-assigns-first-time-Ba2-rating-to-...

Should you have any questions or require further information, our Investor Relations team is readily available to assist you (investor.relations@damacgroup.com). Your inquiries are important to us, and we look forward to providing any necessary support.

Thank you for your continued trust and partnership with DAMAC.