AGTHIA Group — Investor Presentation 2026

May 13, 2026

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For The Better

من أجل الأفضل

Investor Presentation Q1'26 Results

14 May 2026

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Agencia de Agencia de Agencia de la Inversión y Agencia de la Inversión

Agenda

• Strategic Update
• Key Financials
• Segment Performance
• Q&A

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Disclaimer

Agthia Group PJSC and its management may make certain statements that constitute "forward-looking statements" with respect to the financial condition, results of operations and business of the Group. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as "anticipates," "targets," "expects," "hopes," "estimates," "intends," "plans," "goals," "believes," "continues" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could."

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Agthia Group PJSC to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Examples of such statements include, but are not limited to, comments with respect to: 1. outlook for the markets for products; 2. expectations regarding future product pricing; 3. outlook for operations; 4. expectations regarding production capacity and volumes; 5. objectives; 6. strategies to achieve those objectives;

1. expected financial results; 8. sensitivity to changes in product prices; 9. sensitivity to key input prices; 10. sensitivity to changes in foreign exchange rates; 11. expectations regarding income tax rates; 12. expectations regarding compliance with environmental regulations; 13. expectations regarding contingent liabilities and guarantees; 14. expectations regarding the amount, timing and benefits of capital investments.

Although Agthia Group PJSC believes it has a reasonable basis for making these forward-looking statements, readers are cautioned not to place undue reliance on such forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts and other forward-looking statements will not occur.

These factors include, but are not limited to: 1. assumptions in connection with the economic and financial conditions in the UAE, Middle East, and globally; 2. effects of competition and product pricing pressures; 3. effects of variations in the price and availability of manufacturing inputs;

1. various events which could disrupt operations, including natural events and ongoing relations with employees; 5. impact of changes to or noncompliance with environmental regulations; 6. impact of any product liability claims in excess of insurance coverage; 7. impact of future outcome of certain tax exposures; 8. effects of currency exposures and exchange rate fluctuations. The above list of important factors affecting forward-looking information is not exhaustive.

Additional factors are noted elsewhere and reference should be made to the other risks discussed in filings with UAE securities regulatory authorities. Except as required by applicable law, Agthia Group PJSC does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on behalf of the Company, whether as a result of new information, future events or otherwise, or to publicly update or revise the above list of factors affecting this information.

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Business Continuity Update

Continuity

Focus on maintaining customer service and supply reliability

Flexibility

Diversified footprint and sourcing support operational agility

Preparedness

Contingency planning and active monitoring across logistics and commodities

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Strategic Vision to Become a Regional F&B Leader

From...

• UAE centric
• Commoditized portfolio
• Stable financial performance
• Local organization mindset

To...

• Footprint MENA+ & beyond
• Value-add F&B brands
• Strong shareholder returns
• Consumer-centric & performance-driven

Growth

Pursue disciplined expansion plan focused on M&A

Efficiency

Protect the core business and get leaner

Capability

Ensure our organization is set-up to deliver our strategy

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Q1'26: Progress on Strategic Vision

Delivering Growth

• Reported revenue up 3.3% YoY; driven by volume growth and pricing, which was partially offset by mix.
• Underlying revenue -0.7% YoY excluding one-off Agri-Business activity in Q1'26
• AED 61.6M in revenue generated from strategic product innovation (4.8% of Q1'26 underlying revenue, growing +35.6% vs. LY)
• Digital revenue reached AED 92.0M (7.2% of Q1'26 underlying sales, growing +22.5% vs LY)

Driving Efficiency

• Net Productivity 2.5% of COGS in Q1 2026
• Leveraging our Egyptian platform: Strengthening our export-focused resources; AED 23.9M export revenue from Egypt in Q1'26 (+32.5% YoY).
• Head Office Cost Optimization Program: Group-wide cost initiative launched to streamline support functions and improve overhead efficiency

Expanding Capabilities

• Accelerating our digital roadmap:
• Improved Home Office Services app driven positive user feedback

• Launched new website and AI WhatsApp chatbot for Al Ain water.

• Q1'26 Progress across ESG agenda:

• AED 2.9M savings through sustainability productivity projects
• 21.4% reduction in Electricity Ratio (kWh/FP tn) YoY
• 19.9% reduction in Emission Ratio (tnCO2/FP tn) YoY

• 13.6% reduction on Water Ratio (m3/FP tn) YoY

• Investing in innovation: see next slide

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Q1'26: Over AED 61.6M in Revenue Generated from Strategic Product Innovation

Snacking

Abu Auf: Expansion in convenience and indulgence range through single serve Turkish coffee sachets, Madjool Delights coated dates range, on-the-go date snacks and new flavours of Sweet Popcorn

Al Foah: broadened the Zadina portfolio through date-sweetened truffles, and choco-dates

Protein & Frozen Veg

Jordan: New launches included burger formats, appetizers, coated products, cooked and ready-to-eat chicken, as well as additional protein formats tailored to different consumption occasions and customer needs.

Agri-Business

Flour: New Tortilla flour supporting both industrial and consumer demand for tailored flour solutions

Water & Food

Al Ain Water: Alkaline Water and glass bottle SKU extensions, as well as Sparkling Lemon flavoured can

Al Ain Food: Frozen mixed berries and value-added French fries

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Q1'26 Key Financials

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Q1'26: Group Headlines

Group Revenue, AED M

• Revenue grew 3.3% YoY to AED 1.33 B in Q1'26, driven by volume and pricing growth, which was partially offset by mix.
• Segment performance Q1'25:
• Water & Food led with +14.6% YoY
• Agri-Business +13.0% (-2.2% excl. one-off activity)
• Protein & Frozen +4.1%
• Snacking -13.0%
• Underlying revenue (excl. Agri-Business one-off) -0.7% YoY

Group Gross Profit, AED M

• Gross Profit increased 15.9% YoY
• Gross Profit Margin expanded by 341bps to 31.6%, supported by stronger profitability in Snacking, Water & Food, Protein & Frozen, partially offset by margin pressure in Agri-Business.
• Water & Food: GPM up +466bps, driven mainly by improved profitability in HOS and UAE bottled water
• Protein & Frozen: GPM up 249bps, driven by GM improvement across businesses
• Snacking: GPM up 744bps, driven by massive improvement in Al Foah profitability which was partially offset by margin pressure from in BMB and Abu Auf
• Agri-Business: GPM down -220bps, mainly due to unfavorable mix in Animal Feed

GP Margin 31.6% +341bps YoY

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Q1'26: Group Headlines

Group EBITDA, AED M

EBITDA Margin 14.6%
+11bps YoY

• Group EBITDA +4.1% YoY to AED 193.3M,
• Group EBITDA margin +11bps to 14.6%
• Water & Food: EBITDA up +15.7% YoY; driven by revenue growth; margin +16bps
• Agri-Business: EBITDA up 4.3% YoY; EBITDA Margin -156bps
• Snacking: EBITDA down 11.6% to AED 47.3M; Abu Auf and BMB margins pressured, while Al Foah improved with transformation underway
• Protein & Frozen: EBITDA down -0.6% YoY; 28bps margin decline driven by one-off transformation cost and KSA facility ramp-up
• Underlying EBITDA declined by -2.6% YoY, with Underlying EBITDA Margin down -29bps, on the back of softer underlying performance in Agri-Business

Group Net Profit, AED M

NP Margin 7.3%
+59bps YoY

• Group Net Profit increased by 12.5% YoY, with a Net Profit Margin at 7.3%.
• EBITDA growth was further amplified by lower net finance cost and lower income tax and zakat expanse.
• Underlying Net Profit was down -0.4% in line with EBITDA dynamics

Agri-Business one-off activity

*Please refer to Appendix for Reconciliation of Underlying EBITDA and Net Profit

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Net Working Capital: Discipline Delivering Improvement

NWC and NWC as % of Sales¹

AED M

• Trade and Other Receivables
• Inventories
• Trade and Other Payables

Cash Conversion Cycle

CCC days

• DSO
• DIH
• DPO

Key Highlights

• Working capital as a % of sales edged down to 8.0%, mainly driven by reductions in inventories and receivables.
• Inventory level was lower as a result of delays in some shipments due to the logistics disruption in the region while receivables reductions resulted from increased focus on cash collection and better management of customer relations.
• Cash conversion cycle improved by 15 days down to 40 days in Q1'26.

¹
¹
Net Working Capital as % of Sales is based on the closing numbers for the period divided by annualized sales.

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Free Cash Flow Analysis

Free Cash Flow Bridge, AED M

Key Highlights

FCF improved by AED 393 M YoY, reaching AED 82M in Q1'26. The improvement was primarily driven by:

• AED 8 M improvement in EBITDA
• No repeat of the negative impact from lower SCF utilization, which significantly pressured FCF in the prior-year period
• Net CapEx of AED 17 M, down AED 8 M YoY, in line with planned strategic capital investments

1 CAPEX net of proceeds from the sale of Property, Plant, and Equipment

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Leverage Impacted by Operational Headwinds

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Net Debt / EBITDA¹

2.8x

Underlying 2.2x

FY Dec'25 -2.9x

Borrowing Capacity

0.6B

Underlying 1.1B

FY Dec'25 - 0.5B

Interest Coverage²

5.2x

Underlying 6.6x

FY Dec'25 - 4.9x

Avg Dividend Yield³

5.5%

FY'25.DPS = AED 0.221

¹Net debt as on 31 March 2026 divided by LTM EBITDA. ²LTM EBITDA divided by net interest for LTM. ³Total LTM dividend is 22.10 fils (H125: 10.31 + H2'25: 11.79).

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AGM Approved 10% Increase in H2 2025 Dividends to 11.792 fils per Share

FY 2025 dividend increased by +5% to 22.102 fils per share, with a total payout of AED 183.7 M, comprising AED 85.7 M paid for H1 2025 and AED 98.0 M for H2 2025

1 Normalized EPS for 2020.

*Dividend payout is calculated as DPS divided by EPS, and may differ from the payout ratio based on total dividends paid divided by net profit attributable to owners.

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Segmental Performance

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Diversified Growing Portfolio in Large Scalable Markets

16 Based on Q126 sales, excluding one-off activity in Agri-Business

Diversified Revenue by Segments...

...and Geographies

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Water & Food: Strong Growth Driven by UAE Water and M&A

Revenue, AED M

EBITDA, AED M

Q1'26 Highlights

Revenue

• +14.6% YoY. LFL revenue +5.8% YoY (excluding Riviere), driven by UAE water business
• UAE bottled water sales increased by 17.1%, with Al Ain maintaining its market leadership, supported by continued growth in premium offerings, including glass bottles
• UAE HOS +10.4% YoY (excluding Riviere)
• International water delivered 0.7% revenue growth YoY, driven by volume

EBITDA

• EBITDA +15.7% YoY
• EBITDA Margin improved slightly driven by GPM improvement which was partially offset by higher SG&A.

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Water & Food: Strong Performance Driven by Marketing and Digitalization

UAE Leading with Strong Performance

• Al Ain bottled water retaining its market leadership position (YTD value share +2.3pts to 32.7%?)
• Strong Sales in QT26
• Bottled water: +17.1% YoY

• HOS: +10.4% YoY (excluding Riviere)

• International Water Businesses performance in QT26

• Kuwait +27.5% YoY
• KSA -4.2% YoY
• Oman -5.5% YoY

• Turkey -8.8% YoY

• Food revenue -9.5% YoY in QT26 reflecting the transfer of municipality stores operations to a third-party operator, excl. municipality stores revenue was up 22%

[SUN RICE] [SUN] [SUN]

Winning Across Channels

Retail:

• UAE modern trade sales up +18%
• Strong E-com Pure Player's performance with Water growing +84% and Food growing 107%.
• Al Ain Water ranks #1 on Noon, Amazon & Careem

Home & Office Services (HOS):

• QT26 HOS NR grew 69%, driven by strong performance of Al Ain water which was supported by Riviere acquisition (LFL +10.4 YoY).
• Agthia (Al Ain + Riviere) domestic base has increased to over 375k households (reaching ever highest customer count)

Food Services (FS):

• FS had a strong double-digit growth in Jan & Feb, while Mar performance was impacted by geopolitical tension.
• QT26 FS delivered 6.3% sales growth YoY

Connecting though Effective Marketing

WATER: Market Share gain and sales growth driven by strong social media and activation plans

• Ramadan Campaign on Digital & TV with 1ftar Clock & 'Canon Sponsorship'
• Hydration Partnership for UAE Tour, Open Masters Games
• HOS Ramadan customer acquisition campaign
• Al Ain Water x Noon Ramadan campaign – Share kindness with riders

FOOD:

• 1st ever Food consumer communication launched across Digital platforms
• Brand Integration across major cooking shows on AD TV, SONY TV and ARY TV along with iftar clock
• Successful consumer activation at Taste of Dubai Pre-Ramadan

18 Based on ePOS data ending Feb'26.

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Al Ain Fast Track Multiple Innovations in Q1 Across Water 6 Food

Innovations launched with social media, influencers and Instore visibility to drive trial 6 penetration

Food

Al Ain Food ventured into 2 new segments
- Exotic Fruits (Launched in Mar'26)
- Specialty Fries (Launched in Mar'26)

Limited Ramadan Editions (Samosas)

Water

• Launch of Alkaline Water in Feb'26 with Digital and Trade Amplification (Market Share 11.8% in Mar'26)
• Sparkling Water Cans Influencer Activation making it No. 1 Local Sparkling Cans Brand (Market Share 9.7% in Mar'26)

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Agri-Business: Resilient Performance While Navigating External Headwinds

Revenue, AED M

EBITDA, AED M

EBITDA Margin

Q1'26 Highlights

Revenue

• Segment revenue +13.0 YoY mainly driven by one-off activity of AED 51.4 M.
• Underlying revenue (excl. one-off) -2.2% YoY
• Flour sales down -1.4% YoY, with volume growth (+0.6%) offset by price due to the intensification of competition.
• Animal Feed underlying sales -2.8%.

EBITDA

• EBITDA +4.3% YoY, with EBITDA margin contracted by 156bps YoY, driven GPM pressure amid intensified competition, partially offset by SG&A savings.
• Underlying EBITDA (excl. one-off) -14.0% YoY, with Underlying EBITDA Margin down -244bps to 17.7%

20 *Please refer to Appendix for Reconciliation of Underlying Revenue, EBITDA and Net Profit

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Agri-Business: Sustainable Growth through Innovation, Engagement and Digital Adoption

agrivita

New product activation (Patent Flour):
- Connecting consumers to the new product
- Creating excitement, driving trials, loyalty & trust

B2B New Customer adoption:
- Flour Masters Tortilla Factory
- Spinneys bakery supplies

Ramadan – “Pass on the Goodness”
- Reinforcing brand purpose
- Connecting community well-being, strengthening emotional brand equity

Agrivita Mobile App:
- Building Digital Growth
- Farmer Engagement and Adoption
- Highest ever sales in the month of Ramadan AED 6.2 M

Ramadan Activation:
- Driving sales
- Strengthening customer engagement and loyalty
- Promoting balanced nutrition

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Snacking: Improving Margin as Transformation Underway

Revenue, AED M

EBITDA, AED M

Q1'26 Highlights

Revenue

• Revenue declined 13.0% YoY
• Abu Auf delivered growth of 27.3%, reflecting healthy consumer demand and strength of the brand (+19 new stores since Jan'26, net)
• Al Foah and BMB sales came under pressure, reflecting the ongoing recalibration of the businesses as part of the Group's broader efforts to refine product portfolios and strengthen route-to-market capabilities.

EBITDA

• EBITDA stood at AED 47 M
• EBITDA Margin improved by 21bps, mainly driven by Al Foah reset
• Abu Auf and BMB faced margin pressure during the quarter, reflecting continued volatility in key commodity inputs, as well as higher marketing spend at Abu Auf to support market share gain

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Snacking: Strengthening Brands, Expanding Reach

Abu Auf: Momentum Building

Coffee Market share Gain & New Sales Record in Q1

• Abu Auf delivered record sales in Jan, led by coffee, with continued growth in Feb driven by Ramadan seasonal range
• In Jan Coffee volume reached an all-time high (+30% vs. Q4 2025 average),
• Abu Auf market share grew to 12.5% (+2 pts) on YTD Feb 2026 YoY

Coffee Campaign with Celebrity

• Campaign ran across media platforms with strong presence on ground: billboards, street screens, metro branding, Anghami top 19, radio ads, vans branding and more
• Coffee campaign has broken records across all touchpoints from Jan to date—from TTL and social media to TV—delivering standout performance at every level

+480M impressions on digital

BMB: Reset in Motion

Freakin' Wholesome Filled Dates – Aldi

• Top NPD Q1'26 across entire Snacking
• 1.3% of BMB Q1'26 NR

Noms | 360 Activation In UAE

Entered Spinney's, Waitrose in Q1'26

Thins | Launched In US

Sampling across

65+ Costco US locations

E-Com Activations

Pushing conversion for trials 20k users reached

talabat Careem

Al Foah: Recovery Underway

New Products Launched

• Chocolate Spread
• Syrup
• PPA Range

Ramadan Campaign

• Activations in Yas & Ibn Batuta Mall
• Social media amplification with Lovin Dubai

Pop-up Candylicious

Special Packs | Ramadan & Valentine's Day

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Protein & Frozen: Revenue Growth Sustained as Reset Progress

Revenue, AED M

EBITDA, AED M

Q1'26 Highlights

Revenue

• Revenue grew 4.1% YoY
• ☐ Nabil led the segment with strong revenue growth of 7.5% YoY
• ☐ Atyab +3.4% and Frozen Vegetables & Tornato Paste -3.6% delivered softer results, reflecting the ongoing business reset and operational realignment efforts underway in both units.

EBITDA

• EBITDA declined 0.6% YoY, GP Margin expansion was offset by elevated SG&A expenses and the rump up of the KSA facility

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Growth Accelerated — Strong Momentum to Scale

EGYPT: First-in-Category Mega Promo that Strengthened Atyab Leadership and Delivered Both Volume Uplift & Penetration Momentum

NATIONWIDE CONSUMER PROMO EVERYONE IS A WINNER

Atyab

IN store (Visibility & Engagement)

• Creating Category Buzz and a Powerful Year Kick-Off: A Unifying Mega Promo that Kept Atyab #1 in Consumer Conversation and Drove Higher Purchase Frequency.
• Achieved massive reach of +143M total digital impressions across platforms
• Portfolio-wide uplift

JORDAN & GCC: Re-Establishing Nabil as a Distinctive Ramadan Brand Through Scaled Emotional Impact & Market Visibility

TV & RADIO EXPOSURE

Sampling & Engagement

In Store Visibility

SM & Digital Platforms

Public Buses

Outdoor Signages (40 + 7LED)

EVERYDAY RECEIPE BY NABIL

(30 New Recipes by CHEF NIDAL)

Digital Apps

• Secured a Highly Distinctive, Ownable Ramadan Brand Territory mobilized the brand around "Nabil Means Nobility", creating clear ownable differentiation
• Delivered Strong Digital Scale Across Platforms (+18M total digital impressions, supported by TV, outdoor, trucks branding, and in-store visibility)
• Drove Product Integration Through Daily Content

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Investing in Growth: Protein Expansion in KSA

Project Overview

• Location: Jeddah, KSA
• Available land 9,436 sqm; Built-up area 6,600 sqm
• Capex c. AED 110
• Current capacity ≈ 9,500 tons/annum

Rationale

• Strengthen footprint in KSA
• Strong local demand; leverage strong QSR relationships
• Drive growth of key protein vertical

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A Forward-Looking Company

Market leading position across key categories and geographies

Growing portfolio of consumer-centric brands in large, scalable markets

Growth-oriented mindset focused on leveraging synergies, innovation and digitization

Attractive economics with clear strategy for continued value creation

Financial strength and resilience

Experienced leadership team with proven track record

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Q&A

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1

1

Appendix

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Egypt: Resilient Growth Supported by Exports and Auf Retail Expansion

Resilient topline, margin held back by input cost pressure

Revenue, AED M

EBITDA, AED M & EBITDA Margin (%)

"Export Hub" Strategy

AED 23.9 M

Exports from Egypt in Q1'26

AtiJab

• +3.4% AED revenue growth in Q1'26
• AED EBITDA Margin at 5.4%

Abu Auf

• Abu Auf AED revenue grew by 27.3% in Q1'26
• +19 new stores (net) YTD

al ain

Egypt

• Al Ain Egypt AED revenue down 3.6% in Q1'26
• AED EBITDA Margin at 13.2%

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Market Leading Brands in Key Categories and Geographies

Category (Geography)	Rank	Value Share %	YTD'26 vs. YTD'25	FY'25 vs. FY'24
Flour B2B (UAE)	1	47.0%	+0.0pts	+0.0pts
Animal Feed B2B (UAE)	1	44.7%	+0.2pts	+2.2pts
Bottled Water (UAE)	1	32.7%	+2.3pts	+1.9pts
Date Crown (UAE)	4	7.7%	-5.2pts	-3.7pts
Atyab FPP (Egypt)	1	25.3%	-2.9pts	-3.5pts
Nabil (Jordon)	1	35.4%	-0.1pts	-1.6pts
Auf Ground Coffee (Egypt)	2	12.6%	+2.0pts	+1.0pts

Source: Water & Dates ePOS data ending Feb'26, EGY Protein & Coffee, JOR Protein NIQ Retail Audit data ending Feb'26

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Q1'26: Agthia Sustainability Strategy Pillars Highlights

Environmental Integrity

• 21.4%
  Reduction in Electricity Ratio YoY (kWh/FP tn)

• 19.9%
  Reduction in Emission Ratio YoY (tn CO2/FP tn)

• 13.6%
  Reduction in Water Ratio YoY (m3/FP tn)

• 2.9M AED
  Savings through sustainability productivity projects

Scaling Health & Wellness

• 8.8%
  Growth in Glass Bottles Sales YoY

• 10,000+
  Families across the UAE supported in partnership with NEMA the presidential food waste & loos initiative during Ramdan

• 26,000 dates boxes
  Donated in partnership with the Emirates Red Crescent

Fostering Positive Potential

• 45.8%
  Reduction in Serious Injuries & Fatalities rate YoY

• 4.7%
  Reduction in Lost Time Injuries rate YoY

• 84.3%
  Group HSE Audit Score

Shared Accountability

• GRI
  Received the GRI mark for 2025 Sustainability Report

• 2026 KPIs
  Aligned and cascaded across Segments & Group Functions

• 5
  Sustainability Position Statement published

32

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Board of Directors

Board of Directors

*Director & Investment Committee Member, Agthia Ventures Observer, Louis Dreyfus Company Observer, LuLu Chairman, LuLu Strategy & Transformation Committee Director & Investment Committee Member, Equity for Africa Group Director & Investment Committee Member, EFTA Director, LAFCo Director, ORI Meats

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Strong Leadership Team with Track Record of Value Creation

12 senior executives

Avg. 26 years of experience

Blue-chip FMCG leadership and MENA operating expertise

Group Functions

Salmeen Al Ameri
Managing Director & Chief Executive Officer

21 years experience

aldahra
You Can Win Your
Best Choice Award

Jilal
silal

Jeroen Nijs
Chief Financial Officer

30 years experience

PEPSICO
HOLLY
Staff foods
Mondelēz
FLORA

Ramy Merdan
Chief Operating Officer

36 years experience

Patrick Higgins
Chief People Officer

24 years experience

MARS

Hala Hobeiche Katounas
Head of M&A

26 years experience

THE ABRAAJ GROUP
MULTIPLY
FLORA

Abdulrahman Al Barguthi
Acting Chief Digital Officer

26 years experience

cigül enoc
THURAVA

Edward Norder
Chief Innovation Officer

30 years experience

ofi
sophi d'ore

Mahammad Amro
Group General Counsel

29 years experience

Mondelēz International
Nēstlē

Business Segments

Ahmad Yahya
President – Water & Food

30 years experience

HOLLY
Kellogg's
PEPSICO
Staff foods

Nizar Kayali
President – Agri-Business

21 years experience

Chantal Charbel
President – Snacking

21 years experience

LACTALIS

President – Protein & Frozen

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Summary Profit & Loss Statement

AED'000	QT'26	QT'25	YoY
Revenue	1,326,835	1,283,827	3.3%
Cost of sales	-907,744	-922,092	1.6%
Gross profit	419,091	361,735	15.9%
Selling and distribution expenses	-179,725	-147,169	-22.1%
General and administrative expenses	-113,424	-91,770	-23.6%
Research and development cost	-2,029	-1,799	-12.8%
Other income, net	10,368	8,400	23.4%
Operating profit	134,281	129,397	3.8%
Finance income	4,307	2,931	46.9%
Finance expense	-25,526	-27,244	6.3%
Share of profit/ (loss) from investment in JV/associate	202	1,683	-88.0%
Profit for the period before income tax and zakat	113,264	106,767	6.1%
Income tax and zakat expenses	-16,376	-20,652	20.7%
Reported Profit for the period	96,888	86,115	12.5%
Attributable to:
Owners of the Company	92,341	81,573	13.2%
Non-controlling interest	4,547	4,542	0.1%
Basic and diluted reported EPS (AED)	0.111	0.098	13.2%

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Summary Balance Sheet Statement

AED'000	Q1'26	FY'25	FY'24	FY'23	FY'22
Property, plant and equipment	1,394,673	1,437,052	1,428,985	1,460,821	1,446,027
Intangible assets & Goodwill	2,485,648	2,489,238	2,394,815	2,408,106	2,421,885
Others	171,621	154,755	147,918	128,038	104,521
Total non-current assets	4,051,942	4,081,045	3,971,718	3,996,965	3,972,433
Inventories	600,044	839,122	925,505	926,834	847,275
Trade and other receivables	956,370	844,890	1,003,593	1,071,413	931,900
Cash and bank balances	462,319	530,719	672,691	629,958	1,042,502
Due from related parties	23,763	17,402	30,172	15,142	14,694
Total current assets	2,042,496	2,232,133	2,631,961	2,643,347	2,836,371
Total assets	6,094,438	6,313,178	6,603,679	6,640,312	6,808,804
Bank borrowings	1,642,397	1,644,417	1,507,602	1,229,603	1,710,816
Others	262,250	258,205	248,316	244,573	195,109
Total non-current liabilities	1,904,647	1,902,622	1,755,918	1,474,176	1,905,925
Bank borrowings	145,720	222,051	181,849	320,496	675,651
Trade and other payables	1,099,417	1,316,473	1,541,982	1,606,889	990,121
Others	97,376	84,447	130,702	45,204	151,214
Total current liabilities	1,342,513	1,622,971	1,854,533	1,972,589	1,816,986
Total liabilities	3,247,160	3,525,593	3,610,451	3,446,765	3,722,911
Total equity	2,847,278	2,787,585	2,993,228	3,193,547	3,085,893
Equity attributable to the owners of the Company	2,729,320	2,628,786	2,824,624	2,909,777	2,813,274
Non-controlling interests	159,407	158,799	168,604	283,770	272,619
Total equity and liabilities	6,094,438	6,313,178	6,603,679	6,640,312	6,808,804

36

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Summary Cash Flow Statement

AED'000	QY26	QY25	YoY
Profit for the period	96,888	86,115	12.5%
Adjustments for:
Depreciation & Amortization	59,688	52,890	12.9%
Provisions & Allowances	21,355	33,027	-35.3%
Others	36,266	43,052	-15.8%
Change in:
Inventories	237,055	61,851	283.3%
Trade and other receivables	-125,929	-112,697	-11.7%
Due from / to a related party	-6,361	-5,120	-24.2%
Trade and other payables	-227,042	-424,987	46.6%
Deferred government grant	-1,218	-21,997	94.5%
Other provisions	90,702	-287,866	-
Others	-5,195	-3,149	-65.0%
Net cash generated from operating activities	85,507	-291,015	-
Purchase of PPE (CAPEX)	-23,290	-26,643	12.6%
Investment in fixed deposits, net	-4,121	164,986	-
Others	867	5,923	-85.4%
Net cash generated from/( used in) investing activities	-26,544	144,266	-
Dividend paid to shareholders	0	0	-
Bank borrowings, net	-31,281	68,269	-
Others	-29,264	-166,826	82.5%
Net cash (used in)/generated from financing activities	-60,545	-98,557	38.6%
Increase in cash and cash equivalents	-1,582	-245,306	99.4%
Effect of foreign exchange	-23,869	979	-
Beg. Cash & Equivalents balance	398,136	367,369	8.4%
End. Cash & Equivalents balance	372,685	123,042	202.9%

37

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Q1'26 Results Reconciliation

AED M	Q1'26	Q1'25
Reported Revenue	1,326.8	1,283.8
Agri-Business one-off	51.4	-
Underlying Revenue	1,275.5	1,283.8
Reported EBITDA	193.3	185.7
Agri-Business one-off	12.5	-
Underlying EBITDA	180.8	185.7
Reported NP	96.9	86.1
Agri-Business one-off	11.1	-
Underlying NP	85.8	86.1

38

3

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1

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agthia

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