Directors’ Report

The Board of Directors (the “Board”) present their report together with the audited financial statements of Salik Company P.J.S.C. (“Salik” or “the Company”) for the year ended 31 December 2024.

Board of Directors

The Board of Directors of the Company comprises:

Principal activities

The principal activities of the Company are the operations and maintenance of the existing toll gates throughout Dubai, UAE and for design, construction (including all the civil, electrical, gantry design and manufacturing, system integration, testing and commissioning) of new toll gates, including without limitation, the required tolling equipment, infrastructure and any interface requirements in relation to the new toll gates, but excluding the construction, operation and maintenance of the relevant toll roads.

Further, the Company also started the provision of barrier‑free parking management services during the year.

Financial performance

During the year ended 31 December 2024, the Company reported revenue of AED 2,292 million (2023: AED 2,109 million) and profit after tax for the year was AED 1,165 million (2023: AED 1,098 million).

Dividends

During the year, the Company distributed semi‑annual dividend of AED 544,724,713 to the shareholders, reflecting 100% of the Company’s distributable profit for the first half of 2024.

On 4th March 2025, the Board of Directors proposed to distribute AED 619,836 thousand dividend to the shareholders (8.2645 fils per share), reflecting 100% of the Company’s distributable net profit for the second half of 2024 as per the Company’s dividend policy. The proposed dividend is subject to approval by the shareholders at the Company’s General Assembly Meeting in April 2025.

Statement of disclosure to auditors

To the best of our knowledge, the financial statements fairly present, in all material respects, the financial position, results of operations and cash flows of the Company for the year ended 31 December 2024.

for the Board of Directors