FIRST PARAMOUNT MODARABA

(An Islamic Financial Institution) Managed by: Paramount Investments Limited

QUARTERLY REPORT

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

September 30, 2025

For Long Term 'BBB', For Short Term A-3 Outlook - Stable VIS Credit Rating Company

Mission & Vision	01
Corporate Information	02
Directors Report	04
Financial Statements - (Unconsolidated)	06
Financial Statements - (Consolidated)

First Paramount Modaraba (An Islamic Financial Institution) FIRST PARAMOUNT MODARABA Mission & Vision It is our firm commitment to operate the Modaraba activities in accordance with Islamic Sharia with Its true spirit. 2. To employ the Modaraba funds in
best possible way and to promote
the human talents, to maximize
the profit for certificate holders. 3. It is our mission to constantly
endeavour for excellence in all
spheres of business activity,
maintain its eminent market
position, promote lasting
relationship with our customers
and other stakeholders, and
construct a Pakistan. STATEMENT OF ETHICS AND BUSINESS PRACTICES We believe a complete code of ethics is a prerequiste for all Directors and employees of Frist Paramount Modaraba. We endeavour to the philosophy behind the code of ethics to carry out honestly activities assigned to them. Our aim is to have highest standard of execllence for the product and the betterment for all those involved directly or indirectly with our Modaraba.

CORPORATE INFORMATION FIRST PARAMOUNT MODARABA MANAGED BY: PARAMOUNT INVESTMENTS LIMITED

BOARD OF DIRECTORS

Mr. Tanveer Ahmed Magoon Chairman Mr. Syed Wajih Hasan Chief Executive Officer Mr. Nadeem Iqbal Director Mr. Abrar Ahmed Director Mrs. Shahida Tanweer Director Mr. Humayun Mazhar Qureshi Independent Director Mr. Habib Ahmed Navaid Independent Director

AUDIT COMMITTEE

Mr. Habib Ahmed Navaid Chairman Mr. Nadeem Iqbal Member Mr. Abrar Ahmed Member

HUMAN RESOURCE COMMITTEE

Mr. Humayun Mazhar Qureshi	Chairman
Mr. Tanveer Ahmed Magoon	Member
Mr. Nadeem Iqbal	Member
Mr. Syed Wajih Hasan	Member

CHIEF FINANCIAL OFFICER / COMPANY SECRETARY

Mr. Syed Mudassir Ali

SHARIAH ADVISOR

Mufti Muhammad Farhan Farooq

SHARIAH CONSULTANT

Mufti Muhammad Najeeb Khan

CREDIT RATING

Long term BBB Short Term A-3 Outlook Stable By VIS Credit Rating Company

AUDITORS OF THE MODARABA

M/s Crowe Hussain Chaudhury & Co. Chartered Accountants

AUDITORS OF THE MODARABA MANAGEMENT COMPANY

M/s. Hafizullah & Co. Chartered Accountants

LEGAL ADVISOR

M/s Raja Qasit Nawaz, Advocates

BANKERS

Meezan Bank Limited Bank Islami Pakistan Limited Al Baraka Bank (Pakistan) Limited Habib Metropolitan Bank Limited -Islamic Banking Habib Bank Limited Faysal Bank Limited

REGISTERED OFFICE

Suit # 107, 108, 1st Floor, P.E.C.H.S. Community Office Complex, Block-2 PECHS, Shahrah-e-Quaiden, Karachi. Phone: 34381037-38-52 & 34381101. Fax: 34534410 E-mail: [email protected] Web: www.fpm.com.pk

SHARE REGISTRAR

THK ASSOCIATES (PVT) LTD. 32-C, Jami Commercial Street 2, D.H.A Phase VII, Karachi 75500 Pakistan UAN : +92 (021) 111-000-322 Tel : +92 (021) 35310191-6

Web: www.thk.com.pk

Email: [email protected]

DIRECTORS' REPORT TO THE CERTIFICATE HOLDERS OF FIRST PARAMOUNT MODARABA

The Directors of Paramount Investments Limited, Management Company of First Paramount Modaraba, are pleased to present the unconsolidated and consolidated financial statements for the first quarter ended 30 September 2025.

During the quarter, the Modaraba earned a pre-tax profit of Rs. 8,772,659, as compared to Rs. 8,918,508 for the corresponding period last year, reflecting a nominal decrease of 1.6%. The after-tax profit for the period stood at Rs. 6,228,588, showing a nominal decrease of Rs. 103,553 from the corresponding period last year. Earnings per certificate for the period stood at Rs. 0.45 while it was Rs. 0.46 per certificate in the same period last year.

The marginal decline in profitability is due to normal fluctuation of business and would be overcome in the next quarter. During the quarter, Modaraba's financing portfolio increased due to fresh financings contracts under Morabaha arrangement.

During the first quarter, the Modaraba's business operations reflected steady progress across its diversified portfolio, as summarised below:

FPM Petro Services maintained its position as a key business segment, supported by volume growth and margin improvement. The division delivered stable revenues and is expected to gain further momentum in the future periods with increasing activity in the domestic hydrocarbon exploration sector.

FPM AML-CHECK, the Modaraba's AML/CFT screening services division, continued to expand its client base, particularly among regulated financial institutions. Although not yet profitable, the division recorded consistent revenue growth and further strengthened its operational framework, establishing a solid foundation for sustainable performance. The division is expected to generate meaningful returns for Certificate Holders in the forthcoming periods.
Paramount Compliance (Private) Limited (PCPL), the Modaraba's wholly owned subsidiary, continued to complement AML-CHECK operations and broadened its outreach through its UK-based arm, "Complytech Global Limited". The subsidiary's ongoing efforts to explore opportunities in South Asia, Southeast Asia, Africa, and the Middle East form part of the Modaraba's longer-term strategic vision of enhancement in Revenue and Valuation of the business.
DigiEstate, the Modaraba's technology-driven initiative under SECP's Regulatory Sandbox, continued to advance its Shariah-compliant Asset Fractionalisation Platform toward commercial launch in collaboration with its strategic partners. The project reflects the Modaraba's strategic commitment to innovation and the adoption of technology-driven business models. Once operational, it is expected to introduce new Shariah-compliant investment avenues and contribute positively to profitability, thereby enhancing long-term value for Certificate Holders.

As per revised Modaraba Regulations issued on 15 August 2022 by SECP, all deposit taking Modarabas were required to have a minimum equity of Rs. 500 million (FPM currently stands at Rs. 280 million) and a minimum credit rating of "A-" (FPM's rating is BBB) in a period of 3 years. Regulations also restricted issuance of dividend to Modaraba's certificate holders until compliance of these conditions are made. Accordingly, no dividend has been declared or recommended for the period ended 30 Sep 2025.

Modaraba has submitted its proposals (duly approved by the Board of Directors & Shariah Advisor of the Modaraba) for Equity enhancement with the honourable Registrar Modaraba with the request to allow further time in order to implement these Proposals. We are of the view that "Minimum Credit Rating levels criteria" shall also be achieved once Equity of the Modaraba attains desirable levels. We sincerely expect a positive response from the Commission in this regard.

The Board of Directors and the Management of Modaraba are fully committed to comply with the requirements of these Regulations and meeting the criteria mentioned therein.

The Management and the Board of Directors express their sincere gratitude to the Registrar Modaraba, SECP, for their continued guidance and support.

The Board also extends its appreciation to the staff members of the Modaraba for their commitment, agility, and dedication in the timely and successful completion of assigned responsibilities.

For and on behalf of Board of Directors Paramount Investments Limited (PIL) Managers of First Paramount Modaraba

Mr. Syed Wajih Hassan Chief Executive Officer

Mr. Tanveer Ahmed Magoon Chairman

Karachi Dated: 27 October 2025

FIRST PARAMOUNT MODARABA
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED)
AS AT SEPTEMBER 30, 2025

		Un-audited Sep 30,	Audited Jun 30,
		2025	2025
ASSETS	Note	Rupees	Rupees
NON-CURRENT ASSETS
Fixed assets	3	22,181,442	23,281,703
Intangibles assets	3	133,335	144,147
Long Term Investments		9,980	9,980
Murabaha financing	$\overline{4}$	44,074,545	19,403,574
Loan to employees Long-term deposits		105,503 7,700	231,503
		66,512,505	7,700 43,078,607
CURRENT ASSETS
Trade debtors		174,059,739	262,671,367
Stores in trade		26,941,311	12,475,079
Advances, prepayments and other receivables	5	40,939,443	34,340,715
Short-term murabaha financing Current portion of non-current assets		77,297,993	4,791,668 41,883,622
Short-term deposit		256,800	256,800
Accrued profit		205,957	70,332
Taxation - net		94,914,789	68,067,855
Short Term Investment		23,837,235	23,434,916
Cash and bank balances		18,796,973	18,210,311
		457,250,240	466,202,665
		523,762,745	509.281.272
EQUITY AND LIABILITIES CERTIFICATE CAPITAL AND RESERVES Authorised certificate capital 400,000,000 certificates of Rupees 10 each		400,000,000	400,000,000
Issued, subscribed and paid-up certificate capital
13,788,420 certificates of Rupees 10 each		137,884,193	137,884,193
Capital reserves		119,844,976	113,616,388
Revenue reserves		22,392,468	22,392,468
LIABILITIES		280,121,637	273,893,049
NON-CURRENT LIABILITIES
Deferred income		10,763,290	3,362,988
Certificates of musharaka	6	128,375,000	131,875,000
CURRENT LIABILITIES		139,138,290	135,237,988
Creditors, Accrued & Other Liabilities		23,674,524	28,531,267
Current portion of deferred income Current portion of certificates of musharaka	6	9,650,300 47,250,000	5,367,360 41,500,000
COM matured parties		2,800,000	2,800,000
Accrued profit on certificates of musharaka		2,507,754	3,331,368
Unclaimed profit distributions		18,620,240	18,620,240
		104,502,818	100,150,235
TOTAL LIABILITIES		243,641,108	235,388,223
CONTINGENCIES AND COMMITMENTS
TOTAL EQUITY AND LIABILITIES		523,762,745	509.281.272
The annexed notes from 01 to 10 form an integral part of these financial statements.	For Paramount Investments Limited (Management Company)
Chief Financial Officer Chief Executive Officer		Director	Director
	06

FIRST PARAMOUNT MODARABA UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025

			Three months ended
		Sep 30,	Sep 30,
		2025	2024
	Note	Rupees	Rupees

Operating income	$\overline{7}$	141,711,139	143,289,653
Operating expenses		(129, 498, 393)	(129, 947, 486)
(Provision)/Reversal for doubtful recoveries		300,000	360,103
		(129, 198, 393)	(129, 587, 383)
		12,512,746	13,702,270
Other income		1,550,141	2,056,899
Financial charges		(4, 116, 561)	(5,647,482)
		9,946,326	10,111,687
Modaraba Company's management fee		(994, 633)	(1,011,169)
		8,951,693	9,100,518
Provision for Sindh Workers' Welfare Fund		(179, 034)	(182,010)
Profit before taxation		8,772,659	8,918,508
Taxation		(2,544,071)	(2,586,367)
Profit after taxation		6,228,588	6,332,141
Earnings per certificate - basic and diluted		0.45	0.46

Modaraba financing

The annexed notes from 01 to 10 form an integral part of these financial statements.

For Paramount Investments Limited

(Management Company)

Chief Financial Officer	Chief Executive Officer	Director	Director
	07

FIRST PARAMOUNT MODARABA UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025

	Three months ended
	Sep 30,	Sep 30,
	2025	2024
	Rupees	Rupees

Profit after taxation	6,228,588	6,332,141

OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit and loss account	ш

Items that may be reclassified subsequently to profit and loss account	$\blacksquare$

Total comprehensive income for the Period	6,228,588	6,332,141

The annexed notes from 01 to 10 form an integral part of these financial statements.

For Paramount Investments Limited (Management Company)

Chief Financial Officer

Chief Executive Officer

Director

		Sep 30, 2025	Sep 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES	Note	Rupees	Rupees
Profit before taxation		8,772,659	8,918,508
Adjustments for non-cash items:
Depreciation and amortization		1,111,073	747,872
Gain on disposal			(3, 158)
Provision for Sindh Workers' Welfare Fund		179,034	182,010
Financial charges		4,116,561	5,647,482
(Reversal of provision) / Provision for doubtful recoveries		(300, 000)	(360, 103)
		5,106,668 13,879,327	6,214,103
Operating profit before working capital changes			15,132,611
(Increase) / decrease in current assets Murabaha financing - net		(55, 248, 674)	(13, 478, 207)
Loans to employees		54,000	54,000
Stores and spares		(14, 166, 232)	(1,393,857)
Trade debtors - net		88,611,628	3,692,097
Advances, prepayments and other receivables		(6,571,728)	(17, 774, 453)
Short Term Investment		(402, 319)	(736, 247)
Accrued profit		(135, 625)	12,429
(Decrease) / increase in current liabilities
Deferred income		11,683,242	(319, 976)
Creditors, accrued and other liabilities		(5,035,777)	(10,052,104)
Net cash generated from operations		32,667,842	(24, 863, 707)
Financial charges paid		(3, 392)	(4, 466)
Tax (paid) / refunded - net		(29, 391, 005)	(8,008,882)
Net cash generated from operating activities		3,273,445	(32, 877, 055)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets			(4,906,798)
Sale proceed on disposals of fixed assets			5,000
Net cash (used in)			(4,901,798)
CASH FLOWS FROM FINANCING ACTIVITIES
Certificate of Musharaka - issuance		4,425,000	6,875,000
Certificate of Musharaka - redemptions		(2, 175, 000)	(4, 150, 000)
Profit paid to certificates of Musharaka (COM) holder Profit distributed to Certificate holders		(4,936,783)	(6,044,461)
			(104, 494)
Net cash used in financing activities		(2,686,783)	(3,423,955)
Net increase in cash and cash equivalents		586,662	(41, 202, 808)
Cash and cash equivalents at beginning of the year		18,210,311	47,115,806
Cash and cash equivalents at end of the Period		18,796,973	5,912,998
The annexed notes from 01 to 10 form an integral part of these financial statements.
For Paramount Investments Limited (Management Company)

09

FIRST PARAMOUNT MODARABA NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 2025

1. LEGAL STATUS AND OPERATIONS

First Paramount Modaraba (the Modaraba) is a multi purpose, perpetual and multidimensional Modaraba floated under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the rules framed thereunder and is managed by Paramount Investments Limited (the Management Company), a company incorporated in Pakistan under the Companies Ordinance, 1984 (now Companies Act, 2017) on June 26, 1994.

The Modaraba is listed on the Pakistan Stock Exchange Limited. The registered office of the Modaraba is situated at Suite #107-109, 1st Floor, P.E.C.H.S. Community Office Complex, Block-2. P.E.C.H.S. Shahrah-e-Quaideen, Karachi.

Modaraba's principal activities include deployment of funds on murabaha, modaraba and musharaka arrangements and its inhouse ventures are (a) Chemical business under the name of "FPM Petro Services" (b) Electrical maintenance and troubleshooting services' under the name of "FPM Solutions" (c) Anti-money laundering screening services under the name FPM AML - CHECK.

2. BASIS OF PREPARATION

2.1 Statement of compliance

These unconsolidated condensed interim financial statements of the Modaraba for the three months period ended 30 Sep 2025 are unaudited and being submitted to the certificate holders as required under Modaraba Companies and Modaraba Rules, 1981 and have been prepared in accordance with the requirements of the International Accounting Standard 34 -"Interim Financial Reporting", Companies Act 2017, Modaraba Companies and Modarabas (Floatation and Control) Ordinance, 1980, Modaraba Companies and Modaraba Rules, 1981, Modaraba Regulations 2021 and directives issued by the Securities and Exchange Commission of Pakistan (hereinafter referred to as the relevant laws).

The unconsolidated condensed interim financial statements do not include all the information and disclosures required for full annual financial statements and should be read in conjunction with the annual financial statements of the Modaraba for the year ended June 30, 2025.

2.2 Functional and presentation currency

These unconsolidated condensed interim financial statements are presented in Pakistani Rupees, which is the Modaraba's functional currency. All financial information presented in Pakistani Rupees has been rounded to the nearest rupees, except otherwise stated.

2.3 Significant accounting policies, estimates and judgments

The accounting policies and methods of computation followed for the preparation of these unconsolidated condensed interim financial statements are same as those applied in preparing the financial statements for the year ended June 30, 2025.

The preparation of unconsolidated condensed interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The significant judgements made by management in applying the Modaraba's accounting policies and key sources of estimation of uncertainty are the same as those that were applied to the financial statements for the year ended June 30, 2025.

3. FIXED ASSETS	Sep 30, Jun 30, 2025 2025 (Rupees) ---------- -----------
Fixed Assets Intangible Assets	22,181,442 23,281,703 144,147 133,335 23,425,850 22,314,777

		30 SEPT 2025	30 JUNE 2025
		---------- (Rupees) -
	Additions during the period

	Computers		798,798
	Office and other equipments		22,000
	Furnitures and fixtures		419,750
	Vehicles		13,786,813
			15,027,361
	4. MURABAHA FINANCING - secured	(Un-audited)	(Audited)
		30 SEPT 2025	30 JUNE 2025
		---------- (Rupees) ----------

	Considered good	107,213,484	48,346,558
	Considered doubtful	256,662	256,661
	Suspended income		(1, 146, 416)
		107,470,146	47,456,803
	Provision for doubtful recoveries	(256, 662)	(256, 661)
		107,213,484	47,200,142
	Current portion of long-term murabaha financing	(63, 138, 939)	(27, 796, 568)
		44,074,545	19,403,574

		(Un-audited)	(Audited)
5.	SHORT-TERM MURABAHA FINANCING - secured	30 SEPT 2025	30 JUNE 2025
		---------- (Rupees) ----------

	Considered good		4,791,668


		(Un-audited)	(Audited)
		30 SEPT 2025	30 JUNE 2025
		------------- (Rupees) -------------
5.	CERTIFICATES OF MUSHARAKA

	Opening balance	173,375,000	168,400,000
	Issuance	4,425,000	35,700,000
	Redemptions	(2, 175, 000)	(30, 725, 000)
		175,625,000	173,375,000
	Less: Current portion certificates of musharaka	(47, 250, 000)	(41,500,000)
		128,375,000	131,875,000

First Paramount Modaraba (An Islamic Financial Institution)

		(Un-audited) 30 SEPT 2025	(Un-audited) 30 SEPT 2024
OPERATING INCOME		---------- (Rupees) ----------
Profit on murabaha receivables		3,829,944	4,069,976
Profit on musharaka projects		$\sim$	450,000
Income from FPM Petro Services	7.1	137,881,195	138,769,677
		141,711,139	143,289,653

7.1 This represents income generated from chemical business of FPM Petro Services. The Modaraba's share of income is 55%.
7.2 Trade receivables under FPM Petro Services as at the period end is Rupees 174.06 million (2024: 170.65)

8. CONTINGENCIES

FIRST PARAMOUNT

The current status of contingencies is same as disclosed in the annual audited financial statements for the Year ended June 30, 2025

9. GENERAL

Corresponding figures have been reclassified / re-arranged wherever necessary to facilitate comparison in the presentation in the current period. However, there are no material reclassification / re-arrangement to report.

Figures have been rounded off to the nearest rupee.

10. DATE OF AUTHORISATION FOR ISSUE

These financial statements were authorised for issue by the Board of Directors of the Management Company on 27 October 2025

Chief Financial Officer

Chief Executive Officer

Director

FIRST PARAMOUNT MODARABA
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED)
AS AT SEPTEMBER 30, 2025

		Un-audited Sep 30,	Audited Jun 30,
		2025	2025
ASSETS	Note	Rupees	Rupees
NON-CURRENT ASSETS
Fixed assets Intangibles assets	3 3	22,181,442 133,335	23,281,703 144,147
Murabaha financing	4	44,074,545	19,403,574
Loan to employees		105,503	231,503
Long-term deposits		7,700	7,700
CURRENT ASSETS		66,502,525	43,068,627

Trade debtors Stores in trade		174,059,739 26,941,311	262,671,367 12,475,079
Advances, prepayments and other receivables		39,472,520	34,956,461
Short-term murabaha financing	5		4,791,668
Current portion of non-current assets		77,297,993	41,883,622
Short-term deposit		256,800	256,800
Accrued profit		205,957	70,332
Taxation - net		94,915,152	68,067,855
Short Term Investment		23,837,235	23,434,916
Cash and bank balances		18,806,481	18,994,547
		455,793,188	467,602,647
		522,295,713	510,671,274
EQUITY AND LIABILITIES
CERTIFICATE CAPITAL AND RESERVES
Authorised certificate capital
400,000,000 certificates of Rupees 10 each		400,000,000	400,000,000
Issued, subscribed and paid-up certificate capital Capital reserves		137,884,193 119,321,621	137,884,193 113,095,758
Revenue reserves		22,392,468	22,392,468
Equity attributable to certificate holders of the holding company		279,598,282	273,372,419
Non-controlling interest		(567)	(558)
Total equity		279,597,715	273,371,861
LIABILITIES
NON-CURRENT LIABILITIES
Deferred income Certificates of musharaka	6	10,763,290 128,375,000	3,362,988 131,875,000
		139,138,290	135,237,988
CURRENT LIABILITIES			30,442,457
Creditors, Accrued & Other Liabilities Current maturity of deferred income		22,731,414 9,650,300	5,367,360
Current maturity of certificates of musharaka	6	47,250,000	41,500,000
Certificate of musharaka - matured and payable		2,800,000	2,800,000
Accrued profit on certificates of musharaka		2,507,754	3,331,368
Unclaimed profit distributions		18,620,240	18,620,240
		103,559,708	102,061,425
TOTAL LIABILITIES		242,697,998	237,299,413
CONTINGENCIES AND COMMITMENTS
TOTAL EQUITY AND LIABILITIES		522,295,713	510,671,274
The annexed notes from 01 to 10 form an integral part of these financial statements.
	For Paramount Investments Limited (Management Company)

Chief Financial Officer Chief Executive Officer		Director	Director

	14

		Three months ended
	Note	Sep 30, 2025 Rupees	Sep 30, 2024 Rupees
Operating income	$\overline{7}$	141,711,139	143,289,653
Operating Cost
Operating expenses		(129, 503, 458)	(129, 947, 486)
(Provision)/Reversal for doubtful recoveries		300,000	360,103
		(129, 203, 458)	(129, 587, 383)
		12,507,681	13,702,270
Other income		1,551,012	2,056,899
Financial charges		(4, 116, 705)	(5,647,482)
		9,941,988	10,111,687
Modaraba Company's management fee		(994, 199)	(1,011,169)
		8,947,789	9,100,518
Provision for Sindh Workers' Welfare Fund		(178, 956)	(182,010)
Profit before taxation		8,768,833	8,918,508
Taxation		(2,542,962)	(2,586,367)
Profit after taxation		6,225,872	6,332,141
Share of profit attributable to:
Certificate holders of the Modaraba		6,225,863	6,332,141
Non-controlling interest		6,225,854	6,332,141
Earnings per certificate - basic and diluted		0.45	0.46
The annexed notes from 01 to 10 form an integral part of these financial statements. For Paramount Investments Limited	(Management Company)

FIRST PARAMOUNT MODARABA CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025

	Three months ended
	Sep 30,	Sep 30,
	2025	2024
	Rupees	Rupees
Profit after taxation	6,225,872	6,332,141
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit and loss account
Items that may be reclassified subsequently to profit and loss account	$\blacksquare$
Other comprehensive income for the Period	ш
Total comprehensive income for the Period	6,225,872	6,332,141

The annexed notes from 01 to 10 form an integral part of these financial statements.

For Paramount Investments Limited

(Management Company)

Chief Financial Officer

Chief Executive Officer

Director

First Paramount Modaraba (An Islamic Financial Institution)

FIRST PARAMOUNT MODARABA CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025

		Sep 30, 2025	Sep 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES	Note	Rupees	Rupees
Profit before taxation		8,768,833	8,918,622
Adjustments for non-cash items:
Depreciation and amortization		1,111,073	747,872
Gain on disposal			(3, 158)
Provision for Sindh Workers' Welfare Fund		178,956	182,010
Financial charges		4,116,705	5,647,568
(Reversal of provision) / Provision for doubtful recoveries		(300,000)	(360, 103)
		5,106,734	6,214,189
Operating profit before working capital changes		13,875,567	15,132,811
(Increase) / decrease in current assets
Murabaha financing - net		(55, 248, 675)	(13, 478, 207)
Loans to employees		54,000	54,000
Stores and spares		(14, 166, 232)	(1, 393, 857)
Trade debtors - net		88,611,628	3,692,097
Advances, prepayments and other receivables Short Term Investment		(4,489,077) (402, 319)	(17,694,570) (736, 247)
Accrued profit		(135, 625)	12,429

(Decrease) / increase in current liabilities
Deferred income Creditors, accrued and other liabilities		11,683,242	(319, 976)
Net cash generated from operations		(7,889,999) 31,892,511	(10, 131, 967) (24, 863, 487)

Financial charges paid		(3,536)	(4, 552)
Tax (paid) / refunded - net		(29, 390, 258)	(8,008,932)
Net cash generated from operating activities		2,498,717	(32, 876, 971)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets	3.1		(4,906,798)
Sale proceed on disposals of fixed assets		۰	5,000
Net cash (used in)			(4.901.798)
CASH FLOWS FROM FINANCING ACTIVITIES
Certificate of Musharaka - issuance	6	4,425,000	6,875,000
Certificate of Musharaka - redemptions		(2, 175, 000)	(4, 150, 000)
Profit paid to certificates of Mushraka (COM) holder		(4,936,783)	(6,044,461)
Profit distributed to Certificate holders			(104, 494)
Net cash used in financing activities		(2,686,783)	(3,423,955)
Net increase in cash and cash equivalents		(188,066)	(41, 202, 724)
Cash and cash equivalents at beginning of the year		18,994,547	47,123,633
Cash and cash equivalents at end of the Period		18,806,481	5,920,909

The annexed notes from 01 to 10 form an integral part of these financial statements.

For Paramount Investments Limited (Management Company)

Chief Financial Officer	Chief Executive Officer	Director	Director
	17

First Paramount Modaraba
(An Islamic Financial Institution)

	CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025		FIRST PARAMOUNT MODARABA
	Issued,			Reserves
	subscribed and		Capital		Revenue	Non-controlling	Total
	certificate capital Merger reserve paid up		Statutory reserve	Total	Unappropriated profit	interest
	Rupees	Rupees	Rupees	Rupees	Rupees		Rupees
Balance as at 01 July 2024	137,884,193	1,935,160	87,615,345	89,550,505	22,392,468	(316)	249,826,850
Total comprehensive income:
Other comprehensive income Profit after taxation				ò.	6,332,255	0	6,332,255
Transferred to statutory reserve @ 100%			6,332,255	6,332,255	(6,332,255) 6,332,255	0	6,332,255
Balance as at 30 September 2024 1 Q	137,884,193	1,935,160	93,947,600	95,882,760	22,392,468	(316)	256,159,105
Balance as at July 2025	137,884,193	1,935,160	111,160,598	113,095,758	22,392,468	(558)	273,371,861
Total comprehensive income: Other comprehensive income Profit after taxation	$\blacksquare$ $\blacksquare$		$\blacksquare$ $\blacksquare$	i,	6,225,863	ව	6,225,854
Transferred to statutory reserve @ 100%	×		6,225,863	6,225,863	(6, 225, 863) 6,225,863	ව	6,225,854
Balance as at 30 September 2025	137,884,193	,935,160	117,386,461	119,321,621	22,392,468	(567)	279,597,715
The annexed notes from 01 to 10 form an integral part of these financial statements.			For Paramount Investments Limited (Management Company)
Chief Financial Officer		Chief Executive Officer		Director			Director

FIRST PARAMOUNT MODARABA NOTES TO THE CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 2025

LEGAL STATUS AND OPERATIONS

Modaraba's principal activities include deployment of funds on murabaha, modaraba and musharaka arrangements and its in-
house ventures are (a) Chemical business under the name of "FPM Petro Services" (b) Electrical mainte troubleshooting services' under the name of "FPM Solutions" (c) Anti-money laundering screening services under the name of "FPM Solutions" (c) Anti-money laundering screening services under the name FPM AML - CHECK.

Paramount Compliance Private Limited

The Paramount Compliance Private Limited (PCPL) was incorporated in Pakistan on August 24, 2023 as a private limited company under the Companies Act, 2017. The registered office is situated at Suit No. 107-108, First Floor, P.E.C.H.S.
Community Office Complex, Block 2, Shahrah-e-Quaideen, Karachi, in the province of Sindh. The principal Paramount Compliance Private Limited is provision of Anti Money Laundering screening services and solutions. Paramount Compliance Private Limited is yet to commence commercial operations. Non-controlling interest in the Paramount Compliance Private Limited - subsidiary company is 0.02%.

Complytech Global Limited

The Complytech Global Limited is wholly owned subsidiary of Paramount Compliance Private Limited and was incorporated in United Kingdom on January 15, 2024 as a private limited company under the UK Companies Act, 2006. The registered office is situated at Unit 19 1-13 Adler Street, London, England, E1 1EG. Non-controlling interest in the Complytech Global Limited subsidiary company is 0.02%.