Investor Relations (IR), 17th Oct 2019

Qatar Fuel Co. Q.P.S.C “WOQOD”

Overview of Operation and Nine Months 2019 Financial Results

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Disclaimer

This release/Announcement/Report contains forward-looking and future-based prospective statements and/or informationconcerning the financial condition, results of operations, activities and businesses of Qatar Fuel (WOQOD) Q.P.S.C. , hereinafterWOQOD. All statements/information other than statements/information of historical fact are deemed to be forward-lookingstatements/information, being statements of future expectations that are based on current expectations and assumptions and notguarantees of future performance. Such forward-looking statement/information, involve known and unknown risks and uncertaintiesthat could cause actual results, operations and business performance or events impacting the Group to differ materially from thoseexpressed or as may be inferred from these statements.

These and all subsequent written and oral forward-looking information incorporated in this release/announcement/report are basedon estimates and opinions on the dates they are made as shown in the cover page herein and are expressly qualified in their entirety bythis notice.

There are a number of factors that could affect the realisation of these forward-looking and/or future-based perspective statementssuch as, without limitation: (a) product margins fluctuations, (b) changes in demand or market conditions for the Group’s services, (c)loss of market share and industry competition in non-concession products and facilities, (d) environmental risks and natural disasters,(e) changes in legislative, fiscal and regulatory conditions, (f) changes in economic and financial market conditions and (g) politicalrisks (H) Regional instability, war, blockade, sabotage, civil commotion or any other element or circumstances outside Group’s control.As such, results could differ substantially from those stated, or as may be inferred from the forward-looking statements containedherein.

WOQOD, its affiliated and subsidiary companies, its Directors, officers, partners, employees, advisors, contractors and agents shall notbe liable in any way for any costs, special, direct, indirect, consequential or incidental damage, losses or other detrimental effectswhether in tort, contract or quasi contract etc., resulting or arising from the use of or reliance by any party on any forward-looking, andfuture-based perspective statement and / or other material contained herein. Further, WOQOD, its subsidiaries, joint ventures, affiliateand associated companies are in no way obliged to update or publish revisions to any forward-looking and/or future-basedprospective statement/information or any other material contained herein should circumstances or managements opinions change orwhich may or may not be known to have changed or to be inaccurate as a result of new information, future events or any reasonwhatsoever. WOQOD does not guarantee the accuracy of the historical statements contained herein.

The company cannot disclose any Commercially Sensitive Information due to the confidentially agreements signed with Suppliers.

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Contents

11• Company Overview

22• Operations Overview

33• Financial Results Overview

44• Q & A

Vision

“To be the leading petroleum products and related services marketing company in the region”

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Overview of WOQOD Group

• Qatar Fuel Q.P.S.C ("WOQOD") was formed in 2002 by an Emiri Decree with an aim to provide refined fuel storage and distribution services in the State of Qatar. WOQOD is exclusively responsible for the distribution of fuel needs within Qatar

• The regulated products mainly includes Diesel, Gasoline and Jet A1. The company also trades in bunker fuels, ship-to-ship bunkering within Qatari waters, bitumen importation and distribution, LPG and branded lubricants

• Operations started with 2 Petrol Stations in 2003 and has grown to 90 petrol stations and 12 Vehicle Inspection Stations (Fahes) as of 30th September 2019

• The WOQOD Group comprises of Qatar Fuel (WOQOD) and five subsidiaries with complementary operations

Shareholding Subsidiaries

Qatar Fuel (WOQOD)

Qatar Petroleum

(20%)

Shafallah (1.5%)

Public

(58.5%)

Retirement & Pension Authority

(20%)

Qa

tar

Fu

el (

WO

QO

D)

QJet

(60%) (40% by QIMC)

FAHES

(100%)

Ard Al Khaleej

(100%)

WOQOD Marine

(100%)

Woqod International

(100%)

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Contents

11• Company Overview

22• Operations Overview

33• Financial Results Overview

44• Q & A

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Key Operations of WOQOD Group - by Segments

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WOQOD Distribution Network

WOQOD Operates 90 Petrol Stations spread across the State of Qatar (69 fixed and 21 mobile stations) as of 30 Sep 2019

Diesel & Gasoline Fuel Volumes & Price – YTD Sep 2019

9M19 vs. 9M18

• Diesel sales lower by 9% mainly due to lower demand from bulk customers (macro economic factors)

• Gasoline sales higher by 3% driven by market demand

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Fuel Sales UnitYTD Sep

2019YTD Sep

2018Variance

F/(U) Variance

(%)Diesel MM Litres 1,954 2,141 (187) -9%Super Gasoline MM Litres 946 893 53 6%Premium Gasoline MM Litres 996 990 6 1%

Total Fuel Sales MM Liters 3,896 4,024 (128) -3%

Weighted Average Fuel Prices UnitYTD Sep

2019YTD Sep

2018Variance

F/(U) Variance

(%)Diesel QAR/Litre 1.87 1.95 (0.08) -4%Super Gasoline QAR/Litre 1.78 1.99 (0.21) -12%Premium Gasoline QAR/Litre 1.72 1.91 (0.19) -11%

Overall Fuel Volumes Trend Analysis

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9M19 vs. 9M18

• Overall growth in Fuel Sales is 2%,

o Jet A1 Fuel sales increased by 7% driven by higher offtake by the Airlines

2.21 2.14 1.95

1.83 1.88 1.94

3.31 3.68 3.93

7.35 7.70 7.83

9M Sep '17 9M Sep '18 9M Sep '19

Fuel Sales Volume Trend - Billion Liters

Diesel Gasoline Jet A1 Fuel - QJet

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New Petrol Stations Update – YTD Sep 2019

• 7 new petrol stations already opened during the period to Sep ‘19 (4 Fixed and 3 Mobile)

• Total stations in operations as of YTD Sep ‘19 is 90 (69 fixed and 21 mobile stations)

• 22 more stations (20 fixed and 2 mobile stations) are expected to open during the 4Q 2019

• Preparations for 33 additional stations for 2020-24 are in various stages

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Retail Fuel Sales Volume Comparison

9M19 vs. 9M18

• Retail Fuel sales increased by 28% during 9M19 as compared to 9M18 mainly

driven by opening of new petrol stations

o Diesel Sales increased by 12%

o Super Gasoline Sales increased by 45% and

o Premium Gasoline sales increased by 27%

• Retail Fuel market share increased from 68% to 84% driven by opening of new

stations

Retail - Fuel Sales Unit 9M - 2019 9M – 2018Variance

F/(U) Variance

(%)

Diesel MM Litres 580 520 60 12%

Super Gasoline MM Litres 747 515 232 45%

Premium Gasoline MM Litres 773 611 162 27%

Total MM Liters 2,100 1,646 454 28%

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Sales Trend – Other Segments

9M19 vs 9M18

• Bitumen and LPG sales increased by 3% each driven by the increased demand from commercial customers

• Natural Gas sales increased by 50% mainly driven by increase in demand from industrial customers

• Total Retail non-fuel revenue increased by 14% driven by addition of new petrol stations and customer promotions

• HFO bunkering sales increased by 36% due to market demand

Operations Unit 9M - 2019 9M - 2018Variance Variance

(%)F/(U)

Bitumen KMT 205 200 5 3%

LPG KMT 135 131 4 3%

Natural Gas & CNG KMMBTU 938 627 312 50%

Retail - Other Sales

Sidra QAR 'MM 153 135 18 13%

APC QAR 'MM 159 138 20 15%

Total QAR 'MM 311 273 38 14%

Heavy Fuel Oil KMT 621 458 163 36%

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Contents

11• Company Overview

22• Operations Overview

33• Financial Results Overview

44• Q & A

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Revenue - Trend Analysis

9M19 vs 9M18

• Revenue is lower by 1.6% to QR 16.7 billion mainly driven by the following factors

o Decrease in fuel prices, mitigated by

Increase in retail fuel sales volume

Increase in non-fuel revenue

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Net Income - Trend Analysis

9M19 vs 9M18

• Net Income and EPS higher by 5.6% to QR 872 million and QR 0.88 respectively, compared

to 9M2018

• The increase in net income is attributable to better margins, cost optimization, efficiency

improvements and better return on cash and investments

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Net Income Analysis for Key Variables – YTD Sep 2019Net Income Attributable to WOQOD Shareholders

Net Income attributable to WOQOD shareholders for YTD September 2019 increased by

QAR 47MM (5.6% increase) as compared to YTD September 2018

• Operating Margins (Net) increase driven by retail sales growth

• Interest & Dividend increase driven by optimization efforts

• Depreciation increase relate to opening of new petrol stations

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9M2019 - Key Achievements

Petrol Stations in Operation90

22Petrol

Stations expected to

open in 4Q19

Fuel retail market share

84%

Achieved record

Fuel sales

7.8 Bn Liters

2%Fuel

volumes growth

Retail Fuel Sales

Growth28%

5.6%Growth

Net Income

QAR 872MM

EPSQAR 0.88

5.6%Growth

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Contents

11• Company Overview

22• Operations Overview

33• Financial Results Overview

44• Q & A

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Thank You !