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POWERING A THRIVING FUTURE

TAQA Annual Report 2020 POWERING A THRIVING FUTUREA nnual Report 2020 Our Business 1-11 About Us 12020 Operational Highlights 4At a Glance 6 Business Model 10 Strategic Review 12-19 Chairman s Statement 12 Group CEO & Managing Director s Statement 14 Strategic Review 16 Operational Review 20-33 Generation 20 Transmission and Distribution 22 Oil and Gas 24 Health, Safety, Security and Environment 26 Our People 28 Corporate Social Responsibility 30 Financial Review 34-35 Financial Highlights 34 Control Environment 36-47 Board of Directors 36 Executive Management 38 Corporate Governance 40 Financial Statements 48-120 Report of the Board of Directors 48 Proforma Financial Information 50 Proforma Consolidated Statement of Profit or Loss 51 Proforma Consolidated Statement of Financial Position 52 Independent Auditor s Report 53 Consolidated Statement of Profit or Loss 56 Consolidated Statement of Comprehensive Income 57 Consolidated Statement of Financial Position 58 Consolidated Statement of Changes in Equity 60 Consolidated Statement of Cash Flows 61 Notes to the Consolidated Financial Statements 63 Glossary 120 OUR PURPOSEP owering a THRIVING FUTURE by efficiently providing sustainable and reliable energy

Founded as a public joint stock company by ... pipelines in the UK, commenced expansion into North America and started oil exploration in the Kurdistan region of Iraq. 2007 TAQA’s power portfolio was expanded to include operations in Ghana, India, Morocco ... osmosis and three multi-stage flash desalination units.

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