United Arab Emirates (UAE) has teamed up with Det Norske Veritas (DNV) on the establishment of a new UAE
Decarbonization Centre.

H.E Suhail Al Mazrouei, Minister of Energy and Infrastructure, and Knut Ørbeck-Nilssen, CEO DNV Maritime
signed a Memorandum of Understanding (MOU) on establishing the facility at the IMO headquarters in London.

The move comes on the heels of the Marine Environment Protection Committee's (MEPC) 80th session and
adoption of a more ambitious GHG reduction strategy by the IMO pointing to shipping's accelerating path
towards full decarbonization.

The new centre is designed to put a collaborative focus in the focus of its development and will work to connect
stakeholders from across the maritime industry and beyond, to become a driving force for reducing green-house
gas emissions globally.

“The establishment of the UAE Maritime Decarbonization Centre reflects our unwavering commitment to
addressing climate change and promoting sustainable practices within the maritime industry,” said H.E Suhail Al
Mazrouei, the UAE Minister of Energy.

“By collaborating with DNV, we aim to leverage their expertise and global network to drive innovation and
accelerate the adoption of decarbonization technologies. The centre will play a pivotal role in advancing our
national and regional sustainability goals while contributing to the global efforts in combating climate change.”

“The Foundation Det Norske Veritas is driven by a desire to help society tackle major global transformations,”
said Remi Eriksen, President and CEO of the Foundation Det Norske Veritas and DNV.

“The recent IMO decision to greatly strengthen international shipping's emissions targets will spur the maritime
industry to accelerate its transition. At DNV we deeply believe that cross-industry collaboration is vital to realizing
this goal and are working to share our deep and broad industry expertise through maritime decarbonization
centres in key regions of the world. The founding of the UAE Decarbonization Centre, in cooperation with the
Ministry, is another significant milestone for the industry and we look forward to welcoming new partners in the
future.”

The centre will take a multi-faceted approach, working on leading joint industry research programmes,
collaboration with governmental, industry, and academic stakeholders, and attracting and developing new talent
to the industry. In addition, the centre will focus on programmes that incubate and accelerate the development of
new technologies and provide a centralized hub for information on decarbonization solutions.

“We are very pleased to collaborate with the UAE's Ministry of Infrastructure & Energy to establish the Maritime
Decarbonization Centre,” said Knut Ørbeck-Nilssen, CEO of DNV Maritime.

“Initiatives like the centre are essential as we look to accelerate towards a decarbonized future. We need to build
via cooperation, foster innovation, and scale local strengths into global leadership. With its strategic location and
strong support from industry leaders, the centre is poised to become a hub for maritime decarbonization efforts.”

The partners are planning to launch the Centre at the beginning of 2024.