SUPERNET GLOBAL
Your Digital Partner

QUARTERLY REPORT MARCH 31

20 26

supersecure A SUPERNET COMPANY

S E S A SUPERNET COMPANY

superinfra A SUPERNET COMPANY

SUPERNET GLOBAL Your Digital Partner

ABOUT SUPERNET TECHNOLOGIES.

Supernet Technologies Limited, one of Pakistan's leading telecommunications service providers and systems integrators, has been operating since 1995. Supernet offers a complete range of enabling ICT solutions with the expertise to, deliver, deploy, and maintain them anywhere in the country through a dedicated team of technology professionals.

With the presence of its engineering resources all over Pakistan, Supernet Technologies has a long-standing experience in providing ICT services to corporate customers. Supernet Technologies has expanded its portfolio of services to include cyber security solutions, power solutions, IT Infrastructure solutions, and software & applications solutions.

supersecure A SUPERNET COMPANY

S E S A SUPERNET COMPANY

superinfra A SUPERNET COMPANY

Directors

Report

The Board of Directors of Supernet Technologies Limited are pleased to present the Financial Statements and review of your Company's performance for the nine months period ended 31 March 2026.

Strategic Merger and Growth Initiatives

We are pleased to announce that the Honourable High Court of Sindh at Karachi has allowed the merger petition, and sanctioned the Scheme of Arrangement, which was approved by the respective shareholders. Consequently, Supernet Limited (SNL) has merged with and into Supernet Technologies Limited (STL). This scheme has consolidated, amalgamated and vested all assets, liabilities and obligations of SNL with and into STL, effective January 1, 2025 (the Effective Date)

The management is pleased to report that the post-merger formalities have been completed, resulting in the combined operations of SNL and STL now functioning as a single, main-board listed entity on the Pakistan Stock Exchange (PSX), i.e. Supernet Technologies Limited with the trading symbol 'STL'. It is further apprised that, in accordance with the sanctioned Scheme, the consideration shares have already been issued and allotted to the eligible shareholders of SNL, and SNL has stood dissolved without winding up. The completion of the merger and related formalities has ensured streamlining of group operations, enhanced efficiency, and consolidation of revenue generation under STL. This significant milestone lays a strong foundation for the unified STL as we move forward under the Supernet Global brand.

Financial Performance

Operating results for the nine months period ended 31 March 2026 comprise of the merged entity. These results are not comparable with prior period, which include the impact of operations of SNL from the Effective Date of merger. On a consolidated basis, the Company reported a topline revenue of Rs. 5.72 billion, resulting in Gross Profit (GP) of Rs. 1.38 billion. Profit after tax stood at Rs. 333.67 million, resulting in Earnings per Share (EPS) of Rs. 2.89

On a standalone basis, the Company recorded revenue of Rs. 3.88 billion, translating into Gross Profit of Rs. 978.70 million. The Company posted profit after taxation of Rs. 187.65 million. Accordingly, EPS stood at Rs. 1.74.

Future Outlook - Challenges and Way Forward

Despite prevailing macroeconomic challenges and increasing operational costs, the Company remains optimistic about its future outlook. The management continues to explore growth opportunities in cybersecurity and infrastructure solutions—areas offering strong potential for profitability—while maintaining an unwavering focus on customer satisfaction. This strategic direction is expected to further strengthen the Company's revenue base and support long-term sustainable growth.

Acknowledgement

The Board would like to acknowledge the dedication and hard work by the entire STL team to achieve positive business results in quarterly financials and wish them all the best for the period ahead.

On behalf of the Board

Dated: April 30, 2026, at Karachi

Supernet Technologies 3rd Quarterly Report March 31, 2026

CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS

www.supernet-technologies.com

Page 1 of 17

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Financial Position (Un-audited)

As at March 31, 2026

| | Note | March 31,
2026 | (Restated)
June 30,
2025 |
| --- | --- | --- | --- |
| | | --- ( Rupees in '000') --- | |
| Assets | | | |
| Non - Current assets | | | |
| Property and equipment | 6 | 995,365 | 979,455 |
| Intangible assets | 7 | 55,297 | 57,585 |
| Right of use asset | 8 | 5,237 | 7,659 |
| Long-term deposits | | 7,669 | 7,669 |
| Deferred taxation | | 68,730 | 62,520 |
| | | 1,132,298 | 1,114,888 |
| Current assets | | | |
| Inventory | 9 | 420,265 | 376,813 |
| Trade debts | 10 | 2,226,347 | 2,258,768 |
| Advances, deposits and prepayments | | 1,352,436 | 858,596 |
| Other receivables | | 888,046 | 526,628 |
| Short term investments | | 30,839 | 35,341 |
| Cash and bank balances | 11 | 111,444 | 226,848 |
| | | 5,029,377 | 4,282,994 |
| Total assets | | 6,161,675 | 5,397,882 |

The annexed notes from 1 to 24 form an integral part of these consolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 2 of 17

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Financial Position (Un-audited)

As at March 31, 2026

		(Restated)
		March 31, 2026	June 30, 2025
		--- ( Rupees in '000') ---
Equity and liabilities
Share capital and reserves
Authorised share capital
300,000,000 (2025: 300,000,000) ordinary shares of Rs.10 each	12.1	3,000,000	3,000,000
Issued, subscribed and paid-up capital	12.2	1,076,195	1,076,195
Reserves		1,383,469	1,085,622
Attributable to the owners of the Holding Company		2,459,664	2,161,817
Non - Controlling interest		26,079	3,403
Total shareholders' equity		2,485,743	2,165,220
Non - Current liabilities
Lease liabilities		7,302	5,744
Deferred liability		5,246	5,273
		12,548	11,017
Current liabilities
Trade and other payables	13	2,745,061	2,187,997
Due to related party		823,807	787,936
Accrued mark-up		2,487	5,334
Contractual liability to customer		-	8,872
Unclaimed dividend		23	23
Taxation - Net		14,584	81,259
Current portion of lease liabilities and short-term financing		77,422	150,224
		3,663,384	3,221,645
Total equity and liabilities		6,161,675	5,397,882
Contingencies & commitments	14

The annexed notes from 1 to 24 form an integral part of these consolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Supernet Technologies Limited
Consolidated Condensed Interim Statement of Profit or Loss (Un-audited)
For the nine months ended March 31, 2026

	Note	Nine months ended		Quarter ended
		March 31,		March 31,
		2026	2025	2026	2025
		( Rupees in '000')
Revenue - net	15	5,719,984	2,059,803	2,132,831	2,059,803
Cost of services		(4,340,725)	(1,610,824)	(1,585,792)	(1,610,823)
Gross profit		1,379,259	448,979	547,039	448,980
Administrative & other expenses		(517,514)	(182,776)	(141,476)	(169,569)
Distribution costs		(225,365)	(62,770)	(99,638)	(62,770)
Exchange (loss) / gain		3,540	(7,613)	(3,473)	(7,613)
Expected credit losses		(49,637)	(19,815)	(4,000)	-
Other income		13,733	135,373	410	2,398
		(775,243)	(137,601)	(248,177)	(237,554)
Operating profit		604,016	311,378	298,862	211,426
Finance costs		(50,857)	(114,157)	(38,415)	(43,493)
Profit before taxation and levy		553,159	197,221	260,447	167,933
Levy		(70,129)	(32,124)	(31,211)	(32,124)
Profit before taxation		483,030	165,097	229,236	135,809
Taxation		(149,353)	(84,087)	(70,829)	(84,087)
Profit after taxation		333,677	81,010	158,407	51,722
Profit attributable to:
Owners of the Holding Company		311,001	79,329	150,466	50,041
Non-controlling interest		22,676	1,681	7,941	1,681
		333,677	81,010	158,407	51,722
Earnings per share - basic and diluted (Rs.)	16	2.89	0.74	1.40	0.46

The annexed notes from 1 to 24 form an integral part of these consolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 4 of 17

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Comprehensive Income (Un-audited)

For the nine months ended March 31, 2026

	Nine months ended		Quarter ended
	March 31,		March 31,
	2026	2025	2026	2025
	( Rupees in '000')
	(Restated)		(Restated)
Profit after taxation	333,677	81,010	158,407	51,722
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign subsidiary	(13,154)	830	(6,909)	830
Total comprehensive income for the period	320,523	81,840	151,498	52,552
Total comprehensive income attributable to:
Owners of the Holding Company	297,847	80,159	143,557	50,871
Non-controlling interest	22,676	1,681	7,941	1,681
	320,523	81,840	151,498	52,552

The annexed notes from 1 to 24 form an integral part of these consolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Supernet Technologies Limited
Consolidated Condensed Interim Statement of Changes in Equity (Un-audited)
For the nine months ended March 31, 2026

	Attributable to the owner of the Holding Company				Non - controlling interest	Total
	Share capital	Merger reserve	Capital reserve	Revenue reserve
	Issued, subscribed and paid-up share capital		Foreign currency translation reserve	Un appropriated profit
Balance as at June 30, 2024	5,000	-	-	30,470	-	35,470
Profit for the period	-	-	-	79,329	1,681	81,010
Other comprehensive income	-	-	830	-	-	830
	-	-	830	79,329	1,681	81,840
Bonus shares issued	55,000	-	-	(55,000)	-	-
Issuance of shares against merger	1,016,195	-	-	-	-	1,016,195
Reserves		1,007,812	-	-	-	1,007,812
Balance as at March 31, 2025 (Restated)	1,076,195	1,007,812	830	54,799	1,681	2,141,317
Balance as at June 30, 2025 (Restated)	1,076,195	1,007,812	8,788	69,022	3,403	2,165,220
Profit for the period	-	-	-	311,001	22,676	333,677
Other comprehensive income	-	-	(13,154)	-	-	(13,154)
	-	-	(13,154)	311,001	22,676	320,523
Balance as at March 31, 2026	1,076,195	1,007,812	(4,366)	380,023	26,079	2,485,743

The annexed notes from 1 to 24 form an integral part of these consolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 5 of 17

Page 6 of 17

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Cash Flows (Un-audited)

For the nine months ended March 31, 2026

		(Restated)
		March 31, 2026	March 31, 2025
		--- ( Rupees in '000') ---
Cash flows from operating activities
Cash generated from operations	17	457,384	166,273
Income tax paid		(297,474)	(103,521)
Finance cost paid		(12,725)	(6,501)
Gratuity paid		(624)	-
Net cash (used in ) generated from operating activities		146,561	56,251
Cash flows from investing activities
Purchase of property and equipment		(185,167)	(144,727)
License acquired		-	(57,034)
Investments made		4,502	(138,729)
Income received from saving account		4,693	2,177
Net cash used in investing activities		(175,972)	(338,313)
Cash flows from financing activities
Lease rentals paid		(3,346)	(1,568)
Net cash used in financial activities		(3,346)	(1,568)
Exchange difference on translation of foreign subsidiary		(13,154)	830
Net increase / (decrease) in cash and cash equivalents		(45,911)	(282,800)
Cash and cash equivalents at the beginning of the period		79,933	545,259
Cash and cash equivalents at the end of the period	20	34,022	262,459

The annexed notes from 1 to 24 form an integral part of these consolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Supernet Technologies Limited
Notes to the Consolidated Condensed Interim Financial Statements
For the nine months ended March 31, 2026

THE GROUP AND ITS OPERATIONS

The Group comprises of:
* Supernet Technologies Limited - Parent Company
* Supernet E-Solution (Private) Limited
* Supernet Secure Solution (Private) Limited
* Phoenix Global FZE
* Supernet Infrastructure Solutions (Private) Limited

1.1 Supernet Technologies Limited (the Company) (formerly Hallmark Company Limited) was incorporated as a Public Limited Company on 31 October, 1981 under the repealed Companies Act, 1913, now the Companies Act, 2017, and subsequently obtained registration under the repealed Insurance Act, 1938, (now the Insurance Ordinance, 2000) as an insurer. Subsequently, on application from the Company, the insurance license of the Company got revoked from the SECP Insurance Division, vide the S.R.O.1079(I)/2016 dated 22 November, 2016. Consequently, the principal activity was changed, and the Company engaged in trading of computer and allied I.T. equipment.

The registered office of the Company is situated at 4th floor, Tower B, World Trade Centre, Khayabane-Roomi Clifton, Karachi.

1.2 Merger / amalgamation of Supernet Limited with and into the Company

Supernert Limited (SNL) was incorporated in Pakistan on March 14, 1995 as an unquoted public company under the Companies Ordinance, 1984 (Repealed with the enactment of Companies Act, 2017). SNL got listed on Pakistan Stock Exchange at GEM Board on May 10, 2022.

SNL has been granted Fixed Local Loop ("FLL") Licenses by the Pakistan Telecommunication Authority ("PTA"), to provide licensed services and to establish, maintain and operate a Telecommunication System (including but not limited to data network system) in all 14 Telecom Regions of Pakistan for a period of 20 years. The FLL licenses covers all 14 Telecom Regions across Pakistan and are superior to its previously held Class Value Added Services (CVAS) license. The CVAS license has been replaced by the FLL license. SNL under the terms of its FLL licenses will have additional rights in terms of ability to deploy its own infrastructure and provide additional services to its customers.

SNL has been engaged in providing satellite and microwave communication services e.g. internet, radio links, single channel per carrier (SCPC), time division multiple access (TDMA), etc., and sell and installation of related equipment and accessories. SNL has also been licensed to sell photovoltaic equipment and is also registered with the Ministry of Energy (Power Division) Alternate Energy Development Board (AEDB).

The Board of Directors of the Company and SNL in their meetings held on May 27, 2025 considered and approved the Scheme of Arrangement under Sections 279 to 283 and 285(8) of the Companies Act, 2017 (the "Scheme") pertaining to the corporate / capital re-organization of the Company and its group company i.e. SNL, involving, inter alia, the merger of SNL with and into the Company (the "Amalgamation"), filed under a petition ("Petition") for obtaining the sanction of the Scheme by the Honourable High Court of Sindh at Karachi. The Scheme was also approved by the members of both companies vide special resolution adopted in their Extraordinary General Meetings held on June 27, 2025 respectively.

Page 7 of 17

Supernet Technologies Limited (Consolidated)

The Honourable High Court of Sindh, vide order dated February 24, 2026 ("Order"), sanctioned the Scheme. Consequently, all the Assets, Liabilities and Obligations of SNL stand vested in the Company with effect from January 1, 2025 ("Effective Date"). Further, SNL stands dissolved without winding up.

The Consideration transferred is 101,619,475 fully paid ordinary shares of Rs. 10 each issued to the shareholders of SNL (other than the Company) in accordance with the approved swap ratio (i.e. 1.68 shares of the Company to be issued for 1 share of SNL). The swap ratio was determined based on values and calculations set forth in the Swap Computation Letter dated May 16, 2025 issued by M/S H.A.M.D. & Co. Chartered Accountants, which was approved by the Board of Directors of both companies.

In these financial statements, aforementioned merger/amalgamation of SNL with and into the Company has been accounted for using predecessor method of accounting in accordance with the requirements of accounting standard issued by the Institute of Chartered Accountants of Pakistan on "Accounting for Common Control Transactions" as notified by Securities and Exchange Commission (SECP) under SRO 53(1)2022 dated January 12, 2022.

SNL assets and liabilities as of January 01, 2025 i.e. the Effective Date of merger /amalgamation have been amalgamated on a line-by-line basis in the Company's financial statements at their carrying amounts and the difference in the value of net assets acquired and the consideration transferred to the shareholders of SNL (other than the Company) has been recognized as a "Merger Reserve" directly within equity in the financial statements of the Company. Accordingly, the comparative financial statements of the Company were restated as at June 30,2025 and each reporting period to reflect the impacts of the amalgamation, eliminations thereon and the transactions for the six months period from January 01,2025 to June 30, 2025. Moreover, consolidated condensed interim statement of profit or loss and other comprehensive income, consolidated condensed interim statement of changes in equity and consolidated condensed interim statement of cash flows for the current period are not comparable with the prior period as they include the impact of operations of SNL from the Effective Date of merger.

1.2.1 Consideration transferred

Fully paid up ordinary shares of the Company having par value of Rs.10 /share issued to SNL shareholders other than the Company	101,619,475
Nominal value (Rs. / share)	10
Total nominal value of consideration transferred (Rupees in "000)	1,016,195

1.2.2 SNL's assets acquired and liabilities assumed

The details of SNL's balances, based on audited financial statements as of December 31, 2024 which have been merged / amalgamated into the Company are as follows:

Supernet Technologies Limited (Consolidated)

	Note	Rs. "000"
Assets
Non-current assets
Property and equipment	1.2.3	470,030
Intangible assets		56,464
Right-of-use assets		4,969
Long-term investments		59,709
Long-term deposits		7,669
Deferred taxation - Net		47,894
		646,735
	Note	Rs. "000"
Current assets
Communication stores		472,480
Trade debts		2,092,094
Advances, deposits and prepayments		723,573
Other receivables		561,439
Taxation - net		52,918
Cash and bank balances		12,069
		3,914,573
Total assets		4,561,308
Liabilities
Non-current liabilities
Lease liabilities		5,367
Deferred liability		5,273
		10,640
Current liabilities
Trade and other payables		2,390,277
Due to related parties		51,814
Accrued markup		6,459
Contractual liability to customer		8,872
Current portion of lease liabilities and short term financing		144,048
Taxation - Net		2,601,470
Total liabilities		2,612,110
Carrying amount of SNL's net assets at merger date		1,949,198

1.2.3 The carrying amount of SNL assets adjusted as per the Swap Computation Letter are follows:

Property and equipment
Trade debts
Adjustments made in net assets

536,382
(249,000)
287,382

Page 9 of 17

Supernet Technologies Limited (Consolidated)

1.2.4 Merger reserve

Merger reserve arising from the transaction has been recognised directly within the equity as follows:

Total nominal value of consideration transferred	(1,016,195)
Company's existing stake in SNL prior to merger	(759,372)
	(1,775,567)
Adjustments in net assets as per the Swap Computation Letter	287,382
---	---
Carrying amount of SNL's net assets as on acquisition date	1,949,198
	2,236,580
Meger reserve	461,013

1.3 Subsidiary Companies:

Supernet E-Solutions (Private) Limited is engaged in providing telecommunication solutions and other IT related services. Supernet Technologies Limited holds 100% equity of Supernet-E-Solution (Private) Limited.

Supernet Secure Solutions (Private) Limited is engaged in providing networking support services. Supernet Technologies Limited holds 80% equity of Supernet Secure Solutions (Private) Limited.

Phoenix Global FZE, is a subsidiary based in United Arab Emirates (UAE). Its principle business is provision of telecommunication services and sale of telecom equipment within UAE. Supernet Technologies Limited holds 100% equity of Phoenix Global FZE.

Supernet Infrastructure Solutions (Private) Limited is engaged in the business of consultancy, supplies and deals in all type of computer accessories, software, hardware, system integration and multimedia services. Supernet Technologies Limited holds 100% equity of Supernet Infrastructure Solutions (Private) Limited.

The registered office of the Company is situated at 4th floor, Tower B, World Trade Centre, Khayabane-Roomi Clifton, Karachi.

2. BASIS OF PREPARATION

Statement of compliance

These consolidated condensed interim financial statements of the Company for the nine months ended March 31, 2026 have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprises of:

International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and
Provisions of and directives issued under the Companies Act, 2017.

Page 10 of 17

Supernet Technologies Limited (Consolidated)

Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.

These consolidated condensed interim financial statements do not include all the information and disclosures required in the consolidated annual audited financial statements, and should be read in conjunction with the Company's consolidated annual audited financial statements for the year ended June 30, 2025.

These consolidated condensed interim financial statements are un-audited and are being submitted to the shareholders as required under section 237 of the Companies Act, 2017 and the Listing Regulation of Pakistan Stock Exchange Limited.

3. SUMMARY OF MATERIAL ACCOUNTING POLICIES

The accounting policies and methods of computation adopted in the preparation of these consolidated condensed interim financial statements are consistent with those applied in the preparation of the consolidated annual audited financial statements for the year ended June 30, 2025.

4. Change in accounting standards, interpretations and amendments to published accounting and reporting standards

Amendments to published accounting and reporting standards which became effective during the period:

There were certain amendments to accounting and reporting standards which became mandatory for the Company during the period. However, the amendments did not have any significant impact on the financial reporting of the Company and, therefore, have not been disclosed in these consolidated condensed interim financial statements.

Amendments to published accounting and reporting standards that are not yet effective:

There are certain amendments to the accounting and reporting standards that will be mandatory for the Company's annual accounting periods beginning on or after July 01, 2025. However, these amendments will not have any significant impact on the financial reporting of the Company and, therefore, have not been disclosed in these consolidated condensed interim financial statements.

5. ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of consolidated condensed interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts. Actual results may differ from these judgements, estimates and assumptions. The judgements and estimates made by the management in the preparation of these consolidated condensed interim financial statements are the same as those applied in the consolidated annual audited financial statements of the Company for the year ended June 30, 2025.

Page 11 of 17

Supernet Technologies Limited (Consolidated)

	Note	(Un-audited)March 31,2026	(Un-audited)June 30,2025
		--- (Rupees in '000') ---
6. PROPERTY AND EQUIPMENT
Opening net book value		979,455	993,478
Additions during the period / year	6.1	185,167	222,909
Depreciation charged during the period / year		(169,257)	(236,932)
		995,365	979,455
6.1 Details of additions during the period / year
Communication equipments		162,616	175,360
Furniture, fixtures and office equipments		6,302	5,400
Leasehold improvements		6,213	278
Motor vehicles		-	28,753
Computers and accessories		10,036	13,118
		185,167	222,909
7. INTANGIBLE ASSETS
Computer software	7.1	654	803
Goodwill		1,887	1,887
Fixed local loop license	7.2	52,756	54,895
		55,297	57,585
7.1 Computer software
Opening net book value		803	1,173
Additions during the period / year		-	100
Amortisation charge for the period /year		(149)	(470)
Closing net book value		654	803
7.2 Fixed local loop license
Opening net book value		54,895	-
Additions during the period / year		-	57,034
Amortisation charge for the period /year		(2,139)	(2,139)
Closing net book value		52,756	54,895
8. RIGHT-OF-USE ASSETS
Opening cost		24,314	19,649
Accumulated depreciation		(16,655)	(14,680)
		7,659	4,969
Movement during the period / year
Opening net book value		8,644	5,954
Additions / reassessment of ROUA		-	4,665
Depreciation for the peirod		(2,422)	(1,975)
Closing net book value		6,222	8,644

Supernet Technologies Limited (Consolidated)

	March 31, 2026 (Un-audited) --- (Rupees in '000') ---	June 30, 2025 (Un-audited) (Restated)
Closing
Cost	24,314	24,314
Accumulated depreciation	(19,077)	(16,655)
Net book value	5,237	7,659
9. INVENTORY
Equipment & Consumables	439,641	396,189
Provision against obsolete store items	(19,376)	(19,376)
	420,265	376,813
Consumables	-	-
	420,265	376,813
10. TRADE DEBTS
Unsecured-considered good
Related parties	6,419	71,841
Others	2,219,928	2,186,927
	2,226,347	2,258,768
Considered doubtful trade debts	273,442	228,037
Loss allowance for ECLs	(273,442)	(228,037)
	-	-
	2,226,347	2,258,768
11. CASH AND BANK BALANCES
Cash in hand	102	84
Bank balances
In current accounts
Local currency	50,358	124,714
Foreign currency	57,778	71,176
	108,136	195,890
In saving account
Local currency	3,206	30,874
	111,444	226,848
12. SHARE CAPITAL AND RESERVES
12.1 AUTHORISED SHARE CAPITAL
300,000,000 ordinary shares of Rs.10 each	3,000,000	3,000,000
12.2 ISSUED, PAID-UP AND SUBSCRIBED CAPITAL
1,076,194,750 (June 2025: 1,076,194,750 of Rs. 10/- each) ordinary shares of Rs.10/- each issued as follows;
500,000 (2025: 500,000) allotted as fully paid in cash	5,000	5,000
5,500,000 (2025: 5,500,000) allotted as bonus shares	55,000	55,000
101,619,475 (2025: 101,619,475) Shares issued pursuant to merger of SNL with and into the Company	1,016,195	1,016,195
	1,076,195	1,076,195

Supernet Technologies Limited (Consolidated)

12.3 All ordinary shares rank equally with regard to residual assets of the Company. The ordinary shareholders are entitled to receive all distributions including dividends and other entitlements in the form of bonus and right shares as and when declared by the Company. Voting rights, board selection, right of first refusal and block voting are in proportion to shareholding.

12.4 As at reporting date, 61.66% shares of the Company are held by Telecard Limited (ultimate parent company).

	March 31, 2026 (Un-audited)	June 30, 2025 (Un-audited)
Note	--- (Rupees in '000') --- (Restated)
13. TRADE AND OTHER PAYABLES
Trade creditors, unsecured
Creditors	2,114,362	1,734,958
Other payables
Accrued liabilities	185,703	149,956
Provision against compensated absences	-	3,580
FLL licences fee to Pakistan Telecommunication Authority	29,097	5,016
Workers' welfare fund payable	2,782	5,794
Payable to employees' provident fund	11,249	7,583
Due to related party	-	-
Others	401,868	281,110
	630,699	453,039
	2,745,061	2,187,997

CONTINGENCIES & COMMITMENTS

Supernet Limited (SNL) entered into a Master Services Agreement (MSA) with Intelsat Corporation in 2011, and various Service Orders with Intelsat Corporation and its affiliates (Intelsat), the last of which was amended in 2018. In 2020, SNL was already in discussion with Intelsat regarding a number of issues, including that it was unable to sell a certain portion of satellite capacity onwards to its customers and utilize the certain capacity purchased for the dedicated purpose due to the fact that, amongst other things, the licenses required by SNL's customers had been delayed by the Government of Pakistan. The said unsold and unusable capacity that SNL was forced to pay for, along with the artificially high rates charged by Intelsat were not in line with the market and was causing loss of business and profitability for SNL.

In May 2020, Intelsat declared bankruptcy due to its inability to meet its debt and other liabilities and as a result of the same, SNL's discussions and negotiations with Intelsat came to a halt. Intelsat's bankruptcy also exposed SNL and its customers to risks about dependability and continuity of services, and increased the risk of termination of service by SNL's customers. Additionally, Intelsat due to its financial crises began unreasonably pressurizing SNL for unjustified payments for unsold and unused capacity.

Considering this, SNL migrated its networks to other service providers and terminated the agreement with Intelsat Corporation. In response, Intelsat has filed a suit in the US to recover an amount of approximately US$10mn, mostly on account of services which were to be rendered in future by Intelsat to SNL. The management of SNL in consultation with their legal advisor is confident that no negative outcome is expected and accordingly no provision in this regard has been made by the management in these unconsolidated financial statements.

Page 14 of 17

Supernet Technologies Limited (Consolidated)

SNL has also challenged the claim of Intelsat, and has filed a Suit for damages before the High Court of Sindh against Intelsat for recovery of the overcharged amounts and damages for loss of business and profits estimated in excess of US$18mn.

14.1 While finalizing the SNL's income tax assessments for the assessment years 1997-98 to 2002-03, the Taxation Officer had not allowed credit of taxes paid by SNL, aggregating Rs. 17.078 million, on account of non-verifiability of payment challans. SNL through its tax consultants has applied for a rectification, and the management is confident that the eventual outcome of the matter will be decided in favor of SNL. Accordingly, no adjustment has been made to the above, shown under advance income tax.

14.2 During the year ended June 30, 2013, SNL received notice under section 177 of the Income Tax Ordinance, 2001 for the tax year 2008 and subsequently tax demand of Rs. 15.398 million was raised. SNL through its tax consultant is pursuing the matter. So far, no adverse action has been taken against SNL by Tax Department. The management is confident that the eventual outcome of the matter will be decided in favor of SNL. Accordingly, no adjustment has been made to the above pending a final decision in this matter.

14.3 In the year 2017, SNL filed an appeal against the notices received by the PTA to its customers for discontinuing the VSAT services. The Court passed an interim order whereby the notices were suspended. The matter is at the stage of hearing of application. Accordingly, based on the lawyer's opinion no provision has been made in these unconsolidated financial statements.

14.4 Letters of guarantee, amounting to Rs. 221.543 million (2025: Rs. 130.652 million), have been issued by commercial banks on behalf of SNL.

Nine months ended		Quarter ended
March 31,		March 31,
2026	2025	2026	2025
(Rupees in '000')
(Restated)		(Restated)

15. REVENUE - NET (UN-AUDITED)

Data networking	4,583,178	1,186,720	1,626,607	1,186,720
Sale of equipment, licenses and softwares	1,043,936	818,408	474,904	818,408
Revenue from turnkey projects	92,870	54,675	31,320	54,675
	5,719,984	2,059,803	2,132,831	2,059,803

16. EARNINGS PER SHARE - BASIC AND DILUTED

Earnings per share has been computed by dividing the consolidated profit after taxation for the year attributable to owners of the Holding Company by the weighted average number of shares outstanding during the year.

	Nine months ended		Quarter ended
	March 31,		December 31,
	2026	2025	2026	2025
	Un-audited
	(Rupees in '000')
Profit for the period	311,001	79,329	150,466	50,041
Weighted average number of shares	107,619	107,619	107,619	107,916
Earnings per share - (Rupees)	2.89	0.74	1.40	0.46

Supernet Technologies Limited (Consolidated)

16.1 There is no dilutive effect on the basic earnings per share as the Company has no potential convertible ordinary shares in issue as at the end of the reporting period.

	Note	March 31, 2026	March 31, 2025
		( Rupees in '000')
		(Un-audited)
		(Restated)
17. CASH GENERATED FROM OPERATIONS
Profit before taxation		553,159	197,221
Adjustments for non - cash charges and other items:
Depreciation		169,257	70,170
Depreciation on ROU assets		2,422	475
Amortisation		2,289	896
Finance cost		50,857	114,157
Staff gratuity		597	-
Provision for ECL against trade debts		49,637	19,815
Profit from saving account		(4,693)	2,177
Working capital changes	17.1	(366,141)	(238,638)
		457,384	166,273
17.1 Working capital changes
(Increase) / decrease in current assets
Inventory		(43,452)	(351,507)
Trade debts		(17,216)	(261,672)
Advances, deposits and prepayments		(493,840)	40,078
Other receivables		(361,418)	230,113
		(915,926)	(342,988)
Increase / (decrease) in current liabilities
Trade and other payables		557,064	333,879
Contractual liability to customers		(8,872)	-
Due to related party		1,593	(229,529)
		(366,141)	(238,638)

18. OPERATING SEGMENTS

The consolidated financial statements are prepared on the basis of single reporting segment consistent with the information review by the chief operating decision maker.

The Company is domiciled in Pakistan. All of the Company's assets are located in Pakistan as at the reporting date.

19. TRANSACTIONS WITH RELATED PARTIES

The related parties include a Parent Company and its subsidiaries, directors and other key management personnel. There has been no transactions with related parties other than those disclosed elsewhere in these consolidated condensed interim financial statements.

Page 16 of 17

Supernet Technologies Limited (Consolidated)

		(Un-audited) March 31, 2026	(Un-audited) March 31, 2025
		--- ( Rupees in '000') ---
Name of entity
Relationship: Entity having common directorship	Nature of transactions
Telecard Limited	Payment against current account	268,834	-
	Receipt against trade debtors	68,698	-
	Services rendered	6,419	-
	Unwinding of interest charged	34,278	35,330

20. CASH AND CASH EQUIVALENT

Cash and bank

Short term running finance

111,444	409,085
(77,422)	(146,626)
34,022	262,459

21. FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENT

There have been no changes in the risk management policies during the period, consequently these consolidated interim financial statements do not include all the financial risk management information and disclosures required in the consolidated annual financial statements.

22. CORRESPONDING FIGURES

Corresponding figures and balances have been rearranged and / or reclassified, where considered necessary for the purpose of better comparison and presentation, the effects of which are not material.

23. AUTHORISATION FOR ISSUE

These consolidated financial statements were authorised for issue on April 30, 2026 by the Board of Directors of the Holding Company.

24. GENERAL

Figures in these consolidated financial statements have been rounded off to the nearest thousand rupees, unless otherwise stated.

Chief Executive Officer

Chief Financial Officer

Director

UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS

www.supernet-technologies.com

Supernet Technologies 3rd Quarterly Report March 31, 2026

Page 1 of 17

Supernet Technologies Limited

Unconsolidated Condensed Interim Statement of Financial Position (Un-audited)

As at March 31, 2026

	Note	March 31, 2026	(Restated) June 30, 2025
		--- ( Rupees in '000') ---
Assets
Non-current assets
Property and equipment	6	977,744	961,853
Intangible assets	7	53,410	55,698
Right-of-use assets	8	5,237	7,659
Long-term investments		59,709	59,709
Long-term deposits		7,669	7,669
Deferred taxation - Net		68,883	60,443
		1,172,652	1,153,031
Current assets
Inventory	9	418,218	376,247
Trade debts	10	1,763,153	1,845,064
Advances, deposits and prepayments		525,821	338,760
Other receivables		518,166	594,858
Cash and bank balances	11	109,008	106,760
		3,334,366	3,261,689
Total assets		4,507,018	4,414,720

The annexed notes from 1 to 23 form an integral part of these unconsolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 2 of 17

Supernet Technologies Limited

Unconsolidated Condensed Interim Statement of Financial Position (Un-audited)

As at March 31, 2026

| | Note | March 31,
2026 | (Restated)
June 30,
2025 |
| --- | --- | --- | --- |
| | | --- ( Rupees in '000') --- | |
| Equity and liabilities | | | |
| Share capital & reserves | | | |
| Authorised share capital | | | |
| 300,000,000 (June 2025: 300,000,000)
ordinary shares of Rs.10/- each | 12.1 | 3,000,000 | 3,000,000 |
| Issued, subscribed and paid-up share capital | 12.3 | 1,076,195 | 1,076,195 |
| Reserves | | | |
| Merger reserve | 1.2.4 | 461,013 | 461,013 |
| Unappropriated profit | | 98,301 | (89,353) |
| | | 1,635,509 | 1,447,855 |
| Non-current liabilities | | | |
| Lease liabilities | | 7,302 | 5,744 |
| Deferred liability | | 5,246 | 5,273 |
| | | 12,548 | 11,017 |
| Current liabilities | | | |
| Trade and other payables | 13 | 1,357,338 | 1,519,405 |
| Due to related parties | | 1,407,753 | 1,234,968 |
| Accrued markup | | 2,487 | 5,334 |
| Contractual liability to customer | | - | 8,872 |
| Unclaimed dividend | | 23 | 23 |
| Current portion of lease liabilities and short term financing | | 77,422 | 150,224 |
| Taxation - Net | | 13,938 | 37,022 |
| | | 2,858,961 | 2,955,848 |
| Total equity and liabilities | | 4,507,018 | 4,414,720 |
| Contingencies & commitments | 14 | | |

The annexed notes from 1 to 23 form an integral part of these unconsolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Supernet Technologies Limited
Unconsolidated Condensed Interim Statement of Profit or Loss (Un-audited)
For the nine months ended March 31, 2026

	Note	Nine months ended		Quarter ended
		March 31,		March 31,
		2026	2025	2026	2025
Revenue - Net	15	3,881,620	1,560,722	1,487,743	1,560,722
Cost of revenue		(2,902,911)	(1,260,285)	(1,039,193)	(1,260,285)
Gross profit		978,709	300,437	448,550	300,437
Administrative & other expenses		(332,079)	(154,060)	(94,029)	(159,368)
Distribution costs		(225,365)	(62,770)	(99,638)	(62,770)
Expected credit loss		(49,637)	-	(4,000)	-
Exchange gain / (loss)		3,051	(7,833)	(2,995)	(7,833)
		(604,030)	(224,663)	(200,662)	(229,971)
Other income		10,687	133,477	686	502
Operating profit		385,366	209,251	248,574	70,968
Finance costs		(49,176)	(113,257)	(38,263)	(4,263)
Profit before levy and taxation		336,190	95,994	210,311	66,705
Levy		(61,208)	(23,573)	(25,530)	(23,573)
Profit before taxation		274,982	72,421	184,781	43,132
Taxation		(87,328)	(63,865)	(57,084)	(63,865)
Profit / (loss) after taxation		187,654	8,556	127,697	(20,733)
Earnings per share - basic and diluted (Rs.)	16	1.74	0.08	1.19	(0.19)

The annexed notes from 1 to 23 form an integral part of these unconsolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 3 of 17

Supernet Technologies Limited
Unconsolidated Condensed Interim Statement of Comprehensive Income (Un-audited)
For the nine months ended March 31, 2026

	Nine months ended		Quarter ended
	March 31,		March 31,
	2026	2025	2026	2025
	( Rupees in '000')
Profit / (loss) after taxation	187,654	8,556	127,697	(20,733)
Other comprehensive income	-	-	-	-
Total comprehensive income for the period	187,654	8,556	127,697	(20,733)

The annexed notes from 1 to 23 form an integral part of these unconsolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 4 of 17

Supernet Technologies Limited
Unconsolidated Condensed Interim Statement of Changes in Equity (Un-audited)
For the nine months ended March 31, 2026

	Issued, subscribed and paid-up share capital	Merger reserve	Revenue reserve	Total
			Un appropriated profit / (loss)
Balance as at June 30, 2024	5,000	-	30,470	35,470
Profit for the period	-	-	8,556	8,556
Other comprehensive income	-	-	-	-
Total comprehensive income for the period	-	-	8,556	8,556
Bonus shares issued	55,000	-	(55,000)	-
Issuance of shares against merger	1.2.1	1,016,195	-	1,016,195
Merger reserve	1.2.4	-	461,013	461,013
Balance as at March 31, 2025 (Restated)	1,076,195	461,013	(15,974)	1,521,234
Balance as at June 30, 2025 (Restated)	1,076,195	461,013	(89,353)	1,447,855
Profit for the period	-	-	187,654	187,654
Other comprehensive income	-	-	-	-
Total comprehensive income for the period	-	-	187,654	187,654
Balance as at March 31, 2026	1,076,195	461,013	98,301	1,635,509

The annexed notes from 1 to 23 form an integral part of these unconsolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Page 5 of 17

Page 6 of 17

Supernet Technologies Limited

Unconsolidated Condensed Interim Statement of Cashflows (Un-audited)

For the nine months ended March 31, 2026

	Note	March 31, 2026	(Restated) March 31, 2025
		--- ( Rupees in '000') ---
Cash flows from operating activities
Cash generated from operations	17	450,310	204,747
Levy and income tax paid		(180,059)	(76,403)
Finance cost paid		(12,725)	(6,501)
Gratuity paid		(624)	-
Net cash generated from operating activities		256,902	121,843
Cash flows from investing activities
Purchase of property and equipment		(182,497)	(143,171)
Income received from saving account		465	52
Net cash used in investing activities		(182,032)	(143,119)
Cash flows from financing activities
Lease rentals paid		(3,346)	(1,568)
Net cash used in financing activities		(3,346)	(1,568)
Net increase / (decrease) in cash and cash equivalents		71,524	(22,844)
Cash and cash equivalents at the beginning of the period		(39,938)	(110,048)
Cash and cash equivalents at the end of the period	19	31,586	(132,892)

The annexed notes from 1 to 23 form an integral part of these unconsolidated financial statements.

Chief Executive Officer

Chief Financial Officer

Director

Supernet Technologies Limited
Notes to the Unconsolidated Condensed Interim Financial Statements
For the nine months ended March 31, 2026

THE COMPANY AND ITS OPERATIONS

The registered office of the Company is situated at 4th floor, Tower B, World Trade Centre, Khayaban-e-Roomi Clifton, Karachi.

1.2 Merger / amalgamation of Supernet Limited with and into the Company

Supernet Limited (SNL) was incorporated in Pakistan on March 14, 1995 as an unquoted public company under the Companies Ordinance, 1984 (Repealed with the enactment of Companies Act, 2017). SNL got listed on Pakistan Stock Exchange at GEM Board on May 10, 2022.

Page 7 of 17

Supernet Technologies Limited

SNL assets and liabilities as of January 01, 2025 i.e. the Effective Date of merger /amalgamation have been amalgamated on a line-by-line basis in the Company's financial statements at their carrying amounts and the difference in the value of net assets acquired and the consideration transferred to the shareholders of SNL (other than the Company) has been recognized as a "Merger Reserve" directly within equity in the financial statements of the Company. Accordingly, the comparative financial statements of the Company were restated as at June 30,2025 and each reporting period to reflect the impacts of the amalgamation, eliminations thereon and the transactions for the six months period from January 01,2025 to June 30, 2025. Moreover, unconsolidated condensed interim statement of profit or loss and other comprehensive income, unconsolidated condensed interim statement of changes in equity and unconsolidated condensed interim statement of cash flows for the current period are not comparable with the prior period as they include the impact of operations of SNL from the Effective Date of merger.

1.2.1 Consideration transferred

Fully paid up ordinary shares of the Company having par value of Rs.10 /share issued to SNL shareholders other than the Company	101,619,475
Nominal value (Rs. / share)	10
Total nominal value of consideration transferred (Rupees in "000)	1,016,195

1.2.2 SNL's assets acquired and liabilities assumed

The details of SNL's balances, based on audited financial statements as of December 31, 2024 which have been merged / amalgamated into the Company are as follows:

Notes	Rs. "000"
Assets
Non-current assets
Property and equipment	1.2.3 470,030
Intangible assets	56,464
Right-of-use assets	4,969
Long-term investments	59,709
Long-term deposits	7,669
Deferred taxation - Net	47,894
	646,735

Supernet Technologies Limited

	Note	Rs. "000"
Current assets
Communication stores		472,480
Trade debts	1.2.3	2,092,094
Advances, deposits and prepayments		723,573
Other receivables		561,439
Taxation - net		52,918
Cash and bank balances		12,069
		3,914,573
Total assets		4,561,308
Liabilities
Non-current liabilities
Lease liabilities		5,367
Deferred liability		5,273
		10,640
Current liabilities
Trade and other payables		2,390,277
Due to related parties		51,814
Accrued markup		6,459
Contractual liability to customer		8,872
Current portion of lease liabilities and short term financing		144,048
Taxation - Net		2,601,470
Total liabilities		2,612,110
Carrying amount of SNL's net assets at merger date		1,949,198

1.2.3 The carrying amount of SNL assists adjusted as per the Swap Computation Letter are follows:

Property and equipment
Trade debts

Adjustments made in net assets

536,382

(249,000)

287,382

1.2.4 Merger reserve

Merger reserve arising from the transaction has been recognised directly within the equity as follows:

Total nominal value of consideration transferred

Company's existing stake in SNL prior to merger

(1,016,195)

(759,372)

(1,775,567)

Adjustments in net assets as per the Swap Computation Letter

Carrying amount of SNL's net assets as on acquisition date

287,382

1,949,198

2,236,580

Meger reserve

461,013

Supernet Technologies Limited

2. BASIS OF PREPARATION

2.1 Statement of compliance

These unconsolidated condensed interim financial statements of the Company for the nine months ended March 31, 2026 have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprises of:

International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and
Provisions of and directives issued under the Companies Act, 2017.

2.2

These unconsolidated condensed interim financial statements do not include all the information and disclosures required in the unconsolidated annual audited financial statements, and should be read in conjunction with the Company's unconsolidated annual audited financial statements for the year ended June 30, 2025.

2.3

These unconsolidated condensed interim financial statements are un-audited and are being submitted to the shareholders as required under section 237 of the Companies Act, 2017 and the Listing Regulation of Pakistan Stock Exchange Limited.

3. SUMMARY OF MATERIAL ACCOUNTING POLICIES

The accounting policies and methods of computation adopted in the preparation of these unconsolidated condensed interim financial statements are consistent with those applied in the preparation of the unconsolidated annual audited financial statements for the year ended June 30, 2025.

4. Change in accounting standards, interpretations and amendments to published accounting and reporting standards

a) Amendments to published accounting and reporting standards which became effective during the period:

There were certain amendments to accounting and reporting standards which became mandatory for the Company during the period. However, the amendments did not have any significant impact on the financial reporting of the Company and, therefore, have not been disclosed in these unconsolidated condensed interim financial statements.

b) Amendments to published accounting and reporting standards that are not yet effective:

There are certain amendments to the accounting and reporting standards that will be mandatory for the Company's annual accounting periods beginning on or after July 01, 2025. However, these amendments will not have any significant impact on the financial reporting of the Company and, therefore, have not been disclosed in these unconsolidated condensed interim financial statements.

Page 10 of 17

Supernet Technologies Limited

5. ACCOUNTING ESTIMATES AND JUDGEMENTS

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. Actual results may differ from these judgements, estimates and assumptions. The judgements and estimates made by the management in the preparation of these unconsolidated condensed interim financial statements are the same as those applied in the unconsolidated annual audited financial statements of the Company for the year ended June 30, 2025.

| | (Un-audited)
March 31,
2026 | (Restated)
(Un-audited)
June 30,
2025 |
| --- | --- | --- |
| Note | --- ( Rupees in '000') --- | |
| 6. PROPERTY AND EQUIPMENT | | |
| Opening net book value | 961,853 | 986,550 |
| Additions during the period / year | 6.1 | 182,497 |
| Depreciation charged during the period / year | (166,606) | (234,680) |
| Closing net book value | 977,744 | 961,853 |
| 6.1 Detail of additions during the period / year | | |
| Leasehold improvements | 6,213 | 278 |
| Communication equipments | 162,616 | 175,360 |
| Furniture, fixtures and office equipment | 6,198 | 4,312 |
| Computers and accessories | 7,470 | 10,462 |
| Motor vehicles | - | 19,571 |
| | 182,497 | 209,983 |
| 7. INTANGIBLE ASSETS | | |
| Fixed local loop license | 52,756 | - |
| Computer software | 654 | 1,173 |
| 7.1 | 53,410 | 1,173 |
| 7.1 Cost | | |
| Opening balance | 100,158 | 43,024 |
| Additions during the period / year | - | 57,134 |
| Closing balance | 100,158 | 100,158 |
| Accumulated amortisation | | |
| Opening balance | (44,460) | (41,851) |
| Charge for the period / year | (2,288) | (2,609) |
| Closing balance | (46,748) | (44,460) |
| Net book value | 53,410 | 55,698 |

Page 11 of 17

Supernet Technologies Limited

(Un-audited) March 31, 2026
(Restated) (Un-audited) June 30, 2025
--- ( Rupees in '000') ---

RIGHT-OF USE-ASSETS

Opening

Cost
24,314
19,649

Accumulated depreciation
(16,655)
(14,680)

Net book value
7,659
4,969

Movement during the period

Opening net book value
8,644
5,954

Addition / reassessment of ROUA

4,665

Depreciation for the period
(2,422)
(1,975)

Closing net book value
6,222
8,644

Closing

Cost
24,314
24,314

Accumulated depreciation
(19,077)
(16,655)

Net book value
5,237
7,659

INVENTORY

Equipment & consumables
437,594
395,623

Provision against obsolete store items
(19,376)
(19,376)

418,218
376,247

TRADE DEBTS

Unsecured-considered good

Related parties
151,675
395,994

Others
1,611,478
1,449,070

1,763,153
1,845,064

Considered doubtful trade debts
259,422
209,785

Less: Loss allowance for ECLs
(259,422)
(209,785)

1,763,153
1,845,064

CASH AND BANK BALANCES

Cash in hand
92
84

Local currency

Current account
51,138
87,195

Saving account
57,778
19,481

108,916
106,676

109,008
106,760

Page 12 of 17

Supernet Technologies Limited

(Un-audited) (Restated)
March 31, 2026
(Un-audited)
June 30, 2025
--- ( Rupees in '000') ---

12. SHARE CAPITAL AND RESERVES

12.1 Authorized share capital

300,000,000 ordinary shares of Rs.10/- each
3,000,000
3,000,000

12.2

Pursuant to merger / amalgamation of SNL with and into the Company as detailed in note 1.2, authorised share capital of SNL amounting to Rs. 1,500,000 thousand divided into 150,000,000 ordinary shares of Rs. 10 each has been merged / combined with the authorised share capital of the Company.

12.3 Issued, subscribed and paid-up share capital

1,076,194,750 (June 2025: 1,076,194,750 of Rs. 10/- each) ordinary shares of Rs.10/- each issued as follows;

500,000 (2025: 500,000) allotted as fully paid in cash
5,500,000 (2025: 5,500,000) allotted as bonus shares
101,619,475 (2025: 101,619,475) Shares issued pursuant to merger of SNL with and into the Company

5,000
55,000
5,000
1,016,195
1,076,195
1,016,195
1,076,195

5,000
55,000
1,016,195
1,076,195

12.4 All ordinary shares rank equally with regard to residual assets of the Company. The ordinary shareholders are entitled to receive all distributions including dividends and other entitlements in the form of bonus and right shares as and when declared by the Company. Voting rights, board selection, right of first refusal and block voting are in proportion to shareholding.

12.5 As at reporting date, 61.66% shares of the Company are held by Telecard Limited (the holding company).

(Un-audited) (Restated)
March 31, 2026
(Un-audited)
June 30, 2025
Note --- ( Rupees in '000') ---

13. TRADE AND OTHER PAYABLES

Unsecured

Trade creditors
1,261,873
1,345,995

Other payables

Accrued liabilities
53,610
118,840

Provision against compensated absences

3,580

FLL Licenses fee to Pakistan Telecommunication Authority
29,097
5,016

Payable to employees' provident fund
6,546
5,794

Workers' welfare fund payable
2,782
2,782

Others
3,430
37,398

95,465
173,410

1,357,338
1,519,405

Page 13 of 17

Supernet Technologies Limited

14. CONTINGENCIES & COMMITMENTS

14.1 SNL entered into a Master Services Agreement (MSA) with Intelsat Corporation in 2011, and various Service Orders with Intelsat Corporation and its affiliates (Intelsat), the last of which was amended in 2018. In 2020, SNL was already in discussion with Intelsat regarding a number of issues, including that it was unable to sell a certain portion of satellite capacity onwards to its customers and utilize the certain capacity purchased for the dedicated purpose due to the fact that, amongst other things, the licenses required by SNL’s customers had been delayed by the Government of Pakistan. The said unsold and unusable capacity that SNL was forced to pay for, along with the artificially high rates charged by Intelsat were not in line with the market and was causing loss of business and profitability for SNL.

In May 2020, Intelsat declared bankruptcy due to its inability to meet its debt and other liabilities and as a result of the same, SNL’s discussions and negotiations with Intelsat came to a halt. Intelsat’s bankruptcy also exposed SNL and its customers to risks about dependability and continuity of services, and increased the risk of termination of service by SNL’s customers. Additionally, Intelsat due to its financial crises began unreasonably pressurizing SNL for unjustified payments for unsold and unused capacity.

14.2 While finalizing the SNL's income tax assessments for the assessment years 1997-98 to 2002-03, the Taxation Officer had not allowed credit of taxes paid by SNL, aggregating Rs. 17.078 million, on account of non-verifiability of payment challans. SNL through its tax consultants has applied for a rectification, and the management is confident that the eventual outcome of the matter will be decided in favor of SNL. Accordingly, no adjustment has been made to the above, shown under advance income tax.

14.3 During the year ended June 30, 2013, SNL received notice under section 177 of the Income Tax Ordinance, 2001 for the tax year 2008 and subsequently tax demand of Rs. 15.398 million was raised. SNL through its tax consultant is pursuing the matter. So far, no adverse action has been taken against SNL by Tax Department. The management is confident that the eventual outcome of the matter will be decided in favor of SNL. Accordingly, no adjustment has been made to the above pending a final decision in this matter.

14.4 In the year 2017, SNL filed an appeal against the notices received by the PTA to its customers for discontinuing the VSAT services. The Court passed an interim order whereby the notices were suspended. The matter is at the stage of hearing of application. Accordingly, based on the lawyer's opinion no provision has been made in these unconsolidated financial statements.

14.5 Letters of guarantee, amounting to Rs. 221.543 million (2025: Rs. 130.652 million), have been issued by commercial banks on behalf of SNL.

Page 14 of 17

Supernet Technologies Limited

15. REVENUE - NET (UN-AUDITED)

	Nine months ended		Quarter ended
	March 31,		March 31,
	2026	2025	2026	2025
	( Rupees in '000')
	(Restated)		(Restated)
Data networking	2,990,612	748,645	987,445	748,645
Sale of equipment and licenses	798,138	757,402	468,978	757,402
Revenue from turnkey projects	92,870	54,675	31,320	54,675
	3,881,620	1,560,722	1,487,743	1,560,722

16. EARNING PER SHARE - BASIC AND DILUTED (UN-AUDITED)

Earning per share has been computed by dividing the profit for the period by the weighted average number of shares outstanding during the period.

	Nine months ended		Quarter ended
	March 31,		March 31,
	2026	2025	2026	2025
	( Rupees in '000')
	(Restated)		(Restated)
Profit for the period	187,654	8,556	127,697	(20,733)
Weighted average number of shares	107,619	107,619	107,619	107,619
Earnings per share - (Rupees)	1.74	0.08	1.19	(0.19)

16.1 There is no dilutive effect on the basic earnings per share as the Company has no potential convertible ordinary shares in issue as at the end of the reporting period.

	(Un-audited)		(Un-audited)
	March 31,	March 31,
	2026	2025
Note	--- ( Rupees in '000')		---

17. CASH GENERATED FROM OPERATIONS

Profit before levy and taxation	336,190	95,994
Adjustments for non - cash charges and other items
Depreciation	166,606	69,798
Depreciation on ROU assets	2,422	475
Amortisation	2,288	806
Finance cost	45,533	111,668
Staff gratuity	597	-
Provision for ECL against trade debts	49,637	-
Profit from saving account	(465)	52
Working capital changes	17.1	(152,498)
	450,310	204,747

Supernet Technologies Limited

(Restated)

(Un-audited)

March 31,

2026

(Un-audited)

March 31,

2025

( Rupees in '000') ---

17.1 Working capital changes

(Increase) / decrease in current assets

Inventory

Trade debts

Advances, deposits and prepayments

Due from related party

Other receivables

(41,971)	(260,880)
32,274	333,827
(187,061)	(899)
-	284,052
76,692	(32,348)
(120,066)	323,752

Increase / (decrease) in current liabilities

Trade and other payables

Contractual liability to customer

Due to related party

(162,067)	(120,239)
(8,872)	-
138,507	(277,559)
(152,498)	(74,046)

18. TRANSACTIONS WITH RELATED PARTIES

The related parties include a Holding Company, subsidiary companies, entities having directors in common with the Company, directors and other key management personnel. Transactions with related parties, other than remuneration and benefits to key management personnel under the terms of their employment are as follows:

(Un-audited)

March 31,

2026

(Un-audited)

March 31,

2025

--- ( Rupees in '000') ---

Name

Nature of transactions

Relationship: Entities having directors in common with the Company

Telecard Limited	Receipts against current account	59,947	-
	Payable related to investment in an associate	-	105,898
	Receipt against trade debtors	68,698	-
Supernet E - Solutions (Private)	Receipt against current account	41,950	-
	Services rendered	220	-
Phoenix Global FZE	Services rendered	59,177	-
	Payment against current account	39,448	-
Supernet Infrastructure Solutions (Private) Ltd.	Sale of equipment	6,316	-
	Rental income	1,350	-
	Payment against current account	22,929	-
Supernet Secure Solutions (Private) Ltd.	Payment against current account	57,225	-

Supernet Technologies Limited

(Restated)
(Un-audited) (Un-audited)
March 31, March 31, 2026 2025
--- ( Rupees in '000') ---

19. CASH AND CASH EQUIVALENT

Cash and bank balance
Short term running finance

109,008	13,734
(77,422)	(146,626)
31,586	(132,892)

20. FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENT

There have been no changes in the risk management policies during the period, consequently these unconsolidated interim financial statements do not include all the financial risk management information and disclosures required in the unconsolidated annual financial statements.

21. SEGMENT REPORTING

The financial statements are prepared on the basis of single reporting segment consistent with the information reviewed by the chief operating decision maker.

The Company is domiciled in Pakistan. All of the Company's assets are located in Pakistan as at the reporting date.

22. GENERAL

Figures in these unconsolidated financial statements have been rounded off to the nearest thousand rupees, unless otherwise stated.

23. AUTHORISATION FOR ISSUE

These unconsolidated financial statements were authorized for issue on April 30, 2026 by the Board of Directors of the Company.

Chief Executive Officer

Chief Financial Officer

Director

Supernet Technologies 3rd Quarterly Report March 31, 2026

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Supernet Technologies Limited — Interim / Quarterly Report 2026

72434_rns_2026-05-04_56eae545-599e-4d1d-8c52-68adfb6f1e2c.pdf

QUARTERLY REPORT MARCH 31

20 26

ABOUT SUPERNET TECHNOLOGIES.

Company Information

Directors

Report

Strategic Merger and Growth Initiatives

Financial Performance

Future Outlook - Challenges and Way Forward

Acknowledgement

CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Financial Position (Un-audited)

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Financial Position (Un-audited)

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Comprehensive Income (Un-audited)

Supernet Technologies Limited

Consolidated Condensed Interim Statement of Cash Flows (Un-audited)

1.2.1 Consideration transferred

1.2.2 SNL's assets acquired and liabilities assumed

1.2.4 Merger reserve

1.3 Subsidiary Companies:

2. BASIS OF PREPARATION

Statement of compliance

3. SUMMARY OF MATERIAL ACCOUNTING POLICIES

4. Change in accounting standards, interpretations and amendments to published accounting and reporting standards

5. ACCOUNTING ESTIMATES AND JUDGEMENTS

15. REVENUE - NET (UN-AUDITED)

16. EARNINGS PER SHARE - BASIC AND DILUTED

18. OPERATING SEGMENTS

19. TRANSACTIONS WITH RELATED PARTIES

20. CASH AND CASH EQUIVALENT

21. FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENT

22. CORRESPONDING FIGURES

23. AUTHORISATION FOR ISSUE

24. GENERAL

UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS

Supernet Technologies Limited

Unconsolidated Condensed Interim Statement of Financial Position (Un-audited)

Supernet Technologies Limited

Unconsolidated Condensed Interim Statement of Financial Position (Un-audited)

Supernet Technologies Limited

Unconsolidated Condensed Interim Statement of Cashflows (Un-audited)

1.2.1 Consideration transferred

1.2.2 SNL's assets acquired and liabilities assumed

2. BASIS OF PREPARATION

2.1 Statement of compliance

2.2

2.3

3. SUMMARY OF MATERIAL ACCOUNTING POLICIES

4. Change in accounting standards, interpretations and amendments to published accounting and reporting standards

a) Amendments to published accounting and reporting standards which became effective during the period:

b) Amendments to published accounting and reporting standards that are not yet effective:

5. ACCOUNTING ESTIMATES AND JUDGEMENTS

Addition / reassessment of ROUA

12. SHARE CAPITAL AND RESERVES

12.1 Authorized share capital

12.2

12.3 Issued, subscribed and paid-up share capital

13. TRADE AND OTHER PAYABLES

Unsecured

Other payables

Provision against compensated absences

14. CONTINGENCIES & COMMITMENTS

15. REVENUE - NET (UN-AUDITED)

16. EARNING PER SHARE - BASIC AND DILUTED (UN-AUDITED)

17. CASH GENERATED FROM OPERATIONS

17.1 Working capital changes

18. TRANSACTIONS WITH RELATED PARTIES

19. CASH AND CASH EQUIVALENT

20. FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENT

21. SEGMENT REPORTING

22. GENERAL

23. AUTHORISATION FOR ISSUE

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Supernet Technologies Limited Interim / Quarterly Report 2026