Offering Overview

• Presight AI Holding PLC (“Presight” or the “Company”), a G42 company, and the region’s leader in big data analytics powered by artificial intelligence (“AI”), announces its intention to offer 1,359,680,000 new ordinary shares of the Company (the “Offer Shares”) for public subscription in the UAE (the “IPO” or the “Offering”) and subsequently list on the Abu Dhabi Securities Exchange’s (“ADX”) first market (the “Listing”)
• The Offer Shares represent 24.24% of the Company’s share capital as at the Listing date
• 168,396,368 shares, representing 12.385% of the total Offer Shares, will be allocated to Retail Investors (as defined in the Offering prospectus of the Company (“Prospectus”)), and 1,191,283,632 shares representing 87.615% of the total Offer Shares will be allocated to Professional Investors (as defined in the Prospectus)
• The offer period is scheduled to commence on 13 March 2023 and end on 17 March 2023
• Presight shares are expected to start trading on the ADX first market on or around 27 March 2023
• The Prospectus and detailed information about Presight, its IPO and the subscription process can be found at: https://www.presight.ai/ipo

Abu Dhabi, 6 March 2023 – Presight AI Holding PLC (“Presight” or the “Company”), a G42 company and the region’s leading international big data analytics company powered by artificial intelligence (“AI”), today announces its intention to carry out an initial public offering (“IPO” or “Offering”) and subsequently list its shares on the Abu Dhabi Securities Exchange’s (“ADX”) first market.

On 3 March 2023, the UAE Securities and Commodities Authority approved the Company’s application for the IPO.

Presight, a public company limited by shares, incorporated in the Abu Dhabi Global Market, supports public services and commercial businesses of all magnitudes by unlocking positive societal impact with omni analytics and AI to deliver insight-driven decision-making across every sector at scale. The Company’s solutions are deployed across three core sectors with significant potential for impact and innovative market growth; public services, finance, and sports. Presight continues to accelerate into priority sectors at pace, channeling the use of advanced data analytics to predict environmental impact, enable efficient infrastructure use, and transform educational outcomes.

The Company’s proprietary Transformative Analytics Quotient (“TAQ”) platform has enabled Presight to deliver unmatched digital transformation for its customers across the globe. TAQ integrates all-source data into adaptive AI algorithms to deliver actionable insights across the sectors in which Presight operates. The platform enables clients to understand historical performance effectively, forecast more accurately, and make timely decisions in the best interests of customers and the public at large.

Presight has entered into a cornerstone investment agreement with International Holding Company (ADX:IHC), through which IHC has committed to invest in the planned IPO. This cornerstone investment agreement demonstrates the confidence IHC has in Presight’s growth trajectory and paves the way for further collaboration and growth opportunities regionally and globally.

His Excellency Mansoor Al Mansoori, Chairman of Presight, said: “Presight was initially conceived in 2020 to deliver analytics-driven, cloud-first AI-enabled solutions for public and private businesses in the Middle Eastern ecosystem. Presight’s journey has evolved rapidly since inception, now positioned as the region’s leading big data analytics company powered by AI, trusted with country-level strategic mandates to drive digital transformation and innovation. Through our proprietary Transformative Analytics Quotient platform, Presight is enabling insight-driven decision-making to unlock positive societal impact with omni-analytics and AI.”

Since its establishment, Presight has demonstrated an exceptional track record in combining big data, analytics and AI expertise to deliver solutions. The Company has successfully delivered numerous high-impact projects with business and societal value creation at the core. Presight was integral to managing the COVID-19 pandemic in the UAE and to welcoming 24 million visitors safely to Expo 2020 Dubai.

Thomas Pramotedham, CEO of Presight, said: “Today’s announcement marks an important milestone in Presight’s journey. Our intention to list on the Abu Dhabi Securities Exchange is a key step in realizing our five-year strategy to strengthen operational expertise, create meaningful headroom for inorganic growth, and expand our services into new markets and sectors globally. We have ambitious plans that leverage our solid historical growth and healthy pipeline of order bookings.”

He added: “We have delivered a strong track record of profitability, with the highest net margins amongst leading AI and cloud organizations with similar digital products and services. We are complemented by a sophisticated leadership team with deep sector expertise and highly predictable revenue streams. Through our long-term committed contracts, we are well positioned to deliver strong returns to shareholders and stakeholders throughout the business.”

Presight is the regional leader in big data analytics powered by AI that supports businesses and governments with national-level digital transformation projects. With TAQ at the core powering 10 flagship solutions and more than 100 AI models, Presight is supporting its clients and partners to unlock positive societal change through insight-driven decision marking.

To find out more, visit: https://www.presight.ai

About Presight AI

Presight AI, a G42 company, is the region’s leading big data analytics company powered by artificial intelligence (“AI”). It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. With its world-class computer vision, AI and omni-analytics platform as its engine, Presight leverages all-source data to support insight-driven decision making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Find out more at https://www.presight.ai 

Key Investment Highlights

Healthy historical revenue growth

Presight has historically delivered healthy financial performance characterized by solid revenue growth, healthy margins and robust cash flow generation. Presight’s revenue growth has been strong, at USD 423 million (AED 1,553 million) for the financial year ending 31 December 2022, up 16% on the financial year ending 31 December 2021. This revenue growth has resulted from a material growth in Presight’s customer order book comprising long-term recurring customer contracts.

Presight has demonstrated substantial growth in profitability, recording gross profit for the financial year ending 31 December 2022 of USD 266 million (AED 976 million), up 92% on the financial year ending 31 December 2021, and net profit of USD 148 million (AED 543 million) for the financial year ending 31 December 2022, an increase of 55% on the financial year ending 31 December 2021. Gross and net profit margins are solid, at 63% and 35% respectively for the financial year ending 31 December 2022.

Clear growth strategy

Presight has an ambitious growth strategy. The key elements of this strategy include:

• International Expansion: Presight is well positioned to capture international market share by setting up efficient ‘go- to-market’ channels, and marketing programs, as well as increasing local presence and infrastructure.
• Inorganic Growth: Presight expects to make significant investments in its core focus area of AI and big-data analytics with the objective of enhancing its product portfolio and technological capabilities.
• Research & Development: Presight’s R&D capabilities are a key component of its historical success and growing its operational footprint, leading to the development of its proprietary TAQ platform deployed for core and priority verticals.

Strong organic growth pipeline

Presight currently has a strong pipeline of new and recurring customer contracts fueling a healthy customer order book and organic revenue streams.

Backed by a key cornerstone investor

Presight has entered into a cornerstone investment agreement with International Holding Company (ADX:IHC). This cornerstone agreement demonstrates the confidence IHC has in Presight’s growth trajectory and paves the way for further collaboration and growth opportunities regionally and globally.

Media Enquiries

Lyndsey McCusker, FGS Global

presight@fgsglobal.com

Disclaimer

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with or act as an inducement to enter into, any contract or commitment whatsoever. Investors should not purchase any shares referred to in this announcement except on the basis of information in the prospectus (“Prospectus”) which shall be published by Presight AI Holding PLC (“Company”) in due course in connection with the proposed initial public offering of its shares (“IPO”) and subsequent admission to listing and trading on the Abu Dhabi Securities Exchange (“ADX”). The distribution of this announcement and other information in connection herewith may be restricted by law in certain jurisdictions and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

In particular, this announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States of America, Australia, Canada, or Japan, or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States of America and the offer and sale of the securities referred to herein has not been and will not be registered under the U.S. Securities Act of 1933 or under the applicable securities laws of the United States of America, Australia, Canada or Japan. There will be no public offer of the securities in any jurisdiction other than the United Arab Emirates. Copies of this announcement are not being, and should not be, distributed in or sent into the United States, Australia, Canada or Japan.

This announcement does not constitute a recommendation concerning the IPO. The price and value of securities and any income from them can go down as well as up and you could lose your entire investment. Before purchasing any securities in the Company, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the Prospectus prepared for the IPO, when published. There is no guarantee that the IPO will take place and potential investors should not base their financial or investment decisions on the intentions of the Company or any other person in relation to the IPO at this stage. Potential investors should consult a professional adviser as to the suitability of the IPO for the person(s) concerned.

This announcement contains “forward-looking” statements, beliefs or opinions, including statements with respect to the business, financial condition, results of operations, liquidity, prospects, growth, strategy and plans of the Company, and the industry in which the Company operates. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and all of which are based on the Company’s current beliefs and expectations about future events. Forward looking statements are sometimes identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and involve predictions. Forward looking statements may and often do differ materially from actual results. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors or the Company with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, concerning, amongst other things, the results of operations, financial condition, prospects, growth and strategies of the Company and the industry in which it operates.

No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this announcement. The Company and its respective affiliates expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

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