UAE Corporate / Commercial LawLaw No. (23) of 2007 Establishing the Dubai Airports Corporation

Article (1) This Law will be cited as “Law No. (23) of 2007 Establishing the Dubai Airports Corporation”.

Article (3) Pursuant to this Law, a public corporation named the “Dubai Airports Corporation” is established in the DAC, and will conduct its business on a commercial basis. The Corporation will have financial and administrative autonomy, independent legal personality, and the legal capacity required to undertake all acts and dispositions that ensure the achievement of its objectives. The Corporation may sue and be sued in its own name, appoint any other person to represent it for this purpose, or authorise any natural or legal person to represent it in judicial claims and proceedings. The Corporation will be affiliated to the DACC.

Article (4) The head office of the Corporation will be located in the DAC. The Corporation may establish branches and offices within and outside of the UAE.

Article (5) The Corporation aims to: 1. operate and manage airports within and outside of the UAE, and promote the services provided in them to the highest levels of quality and safety in accordance with international treaties and conventions and the applicable regulations concerning air navigation; and 2. provide logistic services at the airports it manages to ensure the highest levels of quality and profitability are achieved.

Article (6) To achieve its objectives, the Corporation will have the functions to: 1. manage the Dubai International Airport, Al Maktoum International Airport, and any other airports within or outside of the UAE;

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Law No. (23) of 2007 Establishing the Dubai Airports Corporation Page 3 of 5 2. own and lease the real property, movables, materials, devices, equipment, and software required for performing and completing its work; and 3. enter into agreements with other corporations, authorities, or companies in order to assist it in performing all or part of the work assigned to it.

Article (7) The Corporation will have a CEO and an administrative body. The CEO will be appointed pursuant to a resolution issued by the Chairman.

Article (9) The CEO will represent the Corporation in its relationships with third parties and before judicial authorities, and may authorise any other person or entity to represent the Corporation before third parties and judicial authorities.

Article (10) In regulating its accounts and records, the Corporation will apply the rules and principles of commercial accounting. The financial year of the Corporation will commence on 1 January and will end on 31

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Law No. (23) of 2007 Establishing the Dubai Airports Corporation Page 4 of 5 December of each year, except that the first financial year will commence on the day on which this Law comes into force and will end on 31 December of the following year.

Article (11) The financial resources of the Corporation will consist of: 1. the profits and proceeds of its activities; 2. the fees collected by the Corporation and the charges for the services it provides; and 3. any other resources approved by the Chairman.

Article (12) Effective as of the date on which this Law comes into force, all rights, assets, and obligations of the Department arising prior to the effective date of this Law and relating to the functions of the Corporation stipulated in Article (6) of this Law, are hereby transferred to the Corporation, with the exception of the ownership of real property and facilities.

Article (13) The Department employees required by the Corporation to achieve its objectives will be transferred to the Corporation through coordination between the Department and the Corporation. These employees will retain their existing rights.

Article (14) The Financial Audit Department will audit the accounts of the Corporation.

Article (15) Neither the Government nor the DACC will be liable for any debts or obligations of the Corporation.

Article (16) The Chairman will issue the regulations, bylaws, and resolutions required for the implementation of the provisions of this Law.

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Law No. (23) of 2007 Establishing the Dubai Airports Corporation Page 5 of 5

Article (17) Any provision in any other legislation will be repealed to the extent that it contradicts the provisions of this Law.

Article (18) This Law will be published in the Official Gazette and will come into force on the day on which it is published. Mohammed bin Rashid Al Maktoum Ruler of Dubai Issued in Dubai on 30 September 2007 Corresponding to 18 Ramadan 1428 A.H.

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