Moody's assigns (P)Aa2 rating to TAQA's Global Notes Programme

Instruments to be issued under the terms and conditions of the Programme constitute senior unsecured unsubordinated obligations of TAQA and
therefore carry the same rating as TAQA's Aa2 long term issuer rating.

The ratings on the Programme are provisional, subject to receipt of the final offering circular.

Moody's rates TAQA as a government-related issuer, which receives significant credit enhancement to its baseline credit assessment of 11 due to the high government support that is factored into its rating. Accordingly, TAQA's ratings are at the same level as the Abu Dhabi sovereign rating, which is also Aa2. In Moody's view, TAQA is an important and increasingly prominent vehicle for the government of Abu
Dhabi's policy of economic diversification, and would therefore benefit from government support, if and when required.

TAQA was established in 2005 as the government-controlled entity tasked with holding the majority of the Abu Dhabi state's power generation and water desalination plants, and to establish Abu Dhabi's footprint in the energy sector internationally. The company is 75.1% indirectly owned by the government of Abu Dhabi.