For generations, the United Arab Emirates has pursued a clear and consistent path, grounded in unity, shared prosperity, and a long-standing commitment to partnership and openness that has shaped the nation’s place in the world. Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, these principles continue to guide us as the UAE strengthens its position as a center of growth and opportunity, attracting people, capital, and ideas from around the world.

The clarity and consistency of this approach have enabled the UAE to build a diversified and resilient economy that extends well beyond its natural resources. Today, the nation plays a prominent role as a global connector, home to a well-established ecosystem of talent, capital, and innovation that continues to drive prosperity amid shifting global dynamics.

Mubadala is a central expression of this model and of the UAE’s ability to deliver on a generational vision. Since its inception, the company has played a defining role in advancing national development, deploying capital at scale, building enduring global partnerships, and creating platforms that generate sustainable value while enabling others to take part in the UAE’s growth story.

Today, Mubadala operates with a clear focus on the UAE’s future, investing to strengthen long-term competitiveness and unlock new engines of growth and opportunity. In doing so, it demonstrates how sovereign capital can serve as a catalyst for progress, both nationally and internationally.

For nearly a quarter of a century, Mubadala has consistently delivered long-term value at scale across cycles and periods of disruption, reflecting its fundamental strength as an institution, the depth of its talent and networks, and the reliability of its investment approach. The company’s record performance in 2025 reflects a momentum deliberately generated over many years. A momentum that we will further build in the years ahead.

On behalf of the Board of Directors, I extend my sincere appreciation to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for his continued leadership and guidance. I also express my gratitude to Khaldoon Khalifa Al Mubarak and the entire Mubadala team for their dedication to the nation’s progress.