The decrease in the Parent Company's net profit for the six-month period ended 30 June 2026, compared to the corresponding period in 2025, was mainly attributable to the legal provision recognized in respect of the case, the impact of which was partly offset by an increase in other income.

يرجع انخفاض صافي ربح الشركة الأم خلال فترة الستة أشهر المنتهية في 30 يونيو 2026 مقارنة بالفترة المقابلة من عام 2025 بصورة رئيسية إلى المخصص القانوني على أثر القضية، حيث تم تعويض جزء من أثره بارتفاع الإيرادات الأخرى.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial information is not prepared, in all material respects, in accordance with IAS 34.

استنادا إلى مراجعتنا، فإنه لم يرد إلى علمنا ما يستوجب الاعتقاد بأن المعلومات المالية المرحلية المكثفة المجمعة المرفقة لم يتم إعدادها، من جميع النواحي المادية، وفقاً لمعيار المحاسبة الدولي 34.

REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION TO THE BOARD OF DIRECTORS OF AL SAFAT INVESTMENT COMPANY K.S.C.P.

Introduction

We have reviewed the accompanying interim condensed consolidated statement of financial position of Al Safat Investment Company K.S.C.P. (the “Parent Company”) and its subsidiaries (collectively, the “Group”) as at 30 June 2026, and the related interim condensed consolidated statement of profit or loss and the interim condensed consolidated statement of comprehensive income for the three months and six months periods then ended, and the related interim condensed consolidated statement of changes in equity and the interim condensed consolidated statement of cash flows for the six months period then ended. The management of the Parent Company is responsible for the preparation and presentation of this interim condensed consolidated financial information in accordance with International Accounting Standard 34, Interim Financial Reporting (“IAS 34”). Our responsibility is to express a conclusion on this interim condensed consolidated financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements: 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial information is not prepared, in all material respects, in accordance with IAS 34.

Report on Other Legal and Regulatory Requirements

Furthermore, based on our review, the interim condensed consolidated financial information is in agreement with the books of account of the Parent Company. We further report that, to the best of our knowledge and belief, we have not become aware of any violations of the Companies Law No. 1 of 2016, as amended, and its executive regulations, as amended, or of the Parent Company’s Memorandum of Incorporation and Articles of Association, as amended, during the six months period ended 30 June 2026 that might have had a material effect on the business of the Parent Company or on its financial position.

We further report that, during the course of our review, to the best of our knowledge and belief, we have not become aware of any violations of the provisions of Law No. 7 of 2010 concerning the establishment of Capital Markets Authority (“CMA”) and organization of security activity and its related executive regulations, as amended, during the six months period ended 30 June 2026 that might have had a material effect on the business of the Parent Company or on its financial position.

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