Interim report
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QATARI INVESTORS GROUP Q.P.S.C. DOHA – QATAR INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REVIEW REPORT FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2026
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QATARI INVESTORS GROUP Q.P.S.C. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REVIEW REPORT For the nine-month period ended September 30, 2026 INDEX Page Independent auditor’s review report -- Interim condensed consolidated statement of financial position 1 – 2 Interim condensed consolidated statement of profit or loss 3 Interim condensed consolidated statement of comprehensive income 4 Interim condensed consolidated statement of changes in equity 5 Interim condensed consolidated statement of cash flows 6 – 7 Notes to the interim condensed consolidated financial statements 8 – 18
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QR. 21398 RN: 438/ZZ/FY2027 INDEPENDENT AUDITOR’S REVIEW REPORT To The Shareholders Qatari Investors Group Q.P.S.C. Doha – Qatar Introduction We have reviewed the interim condensed consolidated statement of financial position of Qatari Investors Group Q.P.S.C. (the “Company”) and its subsidiaries (together referred to as the “Group”) as at September 30, 202 6 and the related interim condensed consolidated statements of profit or loss, comprehensive income, changes in equity and cash flows for the nine-month period then ended, and material accounting policy information and other explanatory notes. Management is responsible for the preparation and presentation of this interim financial information in accordance with International Accounting Standard 34 I nterim Financial Reporting. Our responsibility is to express a conclusion on this interim financial information based on our review. Scope of Review We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information for the period ended September 30, 2026 is not prepared, in all material respects, in accordance with IAS 34. Other Matter The comparative interim financial information of the Group for the nine -month period ended 30 September 2025 has not been reviewed. Doha - Qatar For Deloitte and Touche October 21, 2026 Qatar Branch Joseph Khalife Partner License No. 433 QFMA Auditor License No. 120156 Deloitte and Touche – Qatar Branch Burj Alfardan Building Al Majdami Street Lusail P.O. Box 431 Qatar Tel: +974 443-41112 Fax:+974 4442 2131 www.deloitte.com
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QATARI INVESTORS GROUP Q.P.S.C. INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the nine-month period ended September 30, 2026 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - 3 - For the nine-month period ended September 30, 2026 2025 Notes (Unaudited) (Unaudited) QR. QR. Revenue 15 313,822,506 432,734,737 Cost of revenue (160,403,309) (275,017,375) Gross profit 153,419,197 157,717,362 Income from short-term deposits and saving accounts 10,963,951 13,904,654 Other income 9,366,397 23,484,048 Investment income 1,551,397 1,546,428 Share of profits of associates 5,821,071 6,049,760 Selling and distribution expenses (2,039,435) (2,854,979) General and administrative expenses (72,512,059) (70,896,709) Finance costs (22,895,744) (25,955,729) Net profit for the period before income tax 83,674,775 102,994,835 Income tax expense (2,137,111) (2,553,931) Net profit for the period after income tax 81,537,664 100,440,904 Attributable to: Shareholders of the Company 81,537,664 102,104,156 Non-controlling interests -- (1,663,252) 81,537,664 100,440,904 Basic and diluted earnings per share 16 0.07 0.08 This statement has been prepared by the Group and stamped on by the Auditors for identification purposes only.
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QATARI INVESTORS GROUP Q.P.S.C. INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the nine-month period ended September 30, 2026 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - 4 - For the nine-month period ended September 30, 2026 2025 (Unaudited) (Unaudited) QR. QR. Net profit for the period after income tax 81,537,664 100,440,904 Other comprehensive income Items that will not be reclassified to profit or loss in subsequent periods Net change in fair value of investments designated at FVTOCI 2,338,470 705,927 Property revaluation surplus -- 8,660,631 Items that may be reclassified to profit or loss in subsequent periods Change in fair value of cash flow hedging derivatives (3,466,680) (26,059,308) Total comprehensive income for the period after income tax 80,409,454 83,748,154 Attributable to: Shareholders of the Company 80,409,454 85,411,406 Non-controlling interests -- (1,663,252) 80,409,454 83,748,154 This statement has been prepared by the Group and stamped on by the Auditors for identification purposes only.
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QATARI INVESTORS GROUP Q.P.S.C. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the nine-month period ended September 30, 2026 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - 5 - Share capital Legal reserve Fair value reserve Hedging reserve Property Revaluation reserve Retained earnings Proposed dividend Attributable to the shareholders of the Company Non- controlling interests Total QR. QR. QR. QR. QR. QR. QR. QR. QR. QR. Balance as at January 1, 2025 (Audited) 1,243,267,780 621,633,890 5,348,775 64,469,212 -- 945,749,529 161,624,811 3,042,093,997 (5,454,621) 3,036,639,376 Net profit for the period after income tax -- -- -- -- -- 102,104,156 -- 102,104,156 (1,663,252) 100,440,904 Other comprehensive income for the period after income tax -- -- 705,927 (26,059,308) 8,660,631 -- -- (16,692,750) - (16,692,750) Total comprehensive income for the period after income tax -- -- 705,927 (26,059,308) 8,660,631 102,104,156 -- 85,411,406 (1,663,252) 83,748,154 Dividend paid* -- -- -- -- -- -- (161,624,811) (161,624,811) -- (161,624,811) Balance as at September 30, 2025 (Unaudited) 1,243,267,780 621,633,890 6,054,702 38,409,904 8,660,631 1,047,853,685 -- 2,965,880,592 (7,117,873) 2,958,762,719 Balance as at January 1, 2026 (Audited) 1,243,267,780 621,633,890 6,054,702 32,792,819 8,660,631 962,238,959 124,326,778 2,998,975,559 (5,433,658) 2,993,541,901 Net profit for the period after income tax -- -- -- -- -- 81,537,664 -- 81,537,664 -- 81,537,664 Other comprehensive income for the period after income tax -- -- 2,338,470 (3,466,680) -- -- -- (1,128,210) -- (1,128,210) Total comprehensive income for the period after income tax -- -- 2,338,470 (3,466,680) -- 81,537,664 -- 80,409,454 -- 80,409,454 Movement in NCI -- -- -- -- -- (5,433,658) -- (5,433,658) 5,433,658 -- Dividend paid* -- -- -- -- -- -- (124,326,778) (124,326,778) -- (124,326,778) Balance as at September 30, 2026 (Unaudited) 1,243,267,780 621,633,890 8,393,172 29,326,139 8,660,631 1,038,342,965 -- 2,949,624,577 -- 2,949,624,577 * During the period, cash dividends of QR. 0.10 per share amounting to QR. 124.33 million relating to 2025 were approved by the shareholders at the Annual General Assembly Meeting held on March 10, 2026 (2025: 0.13 per share amounting to QR. 161.62 million relating to 2024). This statement has been prepared by the Group and stamped on by the Auditors for identification purposes only.
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QATARI INVESTORS GROUP Q.P.S.C. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS For the nine-month period ended September 30, 2026 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - 6 - This statement has been prepared by the Group and stamped on by the Auditors for identification purposes only. For the nine-month period ended September 30, 2026 2025 Notes (Unaudited) (Unaudited) QR. QR. OPERATING ACTIVITIES Net profit for the period before income tax 83,674,775 102,994,835 Adjustments for: Depreciation of property, plant and equipment 4 42,789,546 45,417,807 Amortization of right-of-use assets 5 3,328,180 12,911,997 Finance cost 36,822,036 49,072,850 Interest expense on lease liabilities 14 1,509,348 4,022,615 Share of profits of associates 7 (5,821,071) (6,049,760) Provision for advances to supplier 175,276 64,498 Write off property, plant and equipment 4 108,227 -- Net movement in provision for impairment of accounts receivable 11 (363,844) 5,673 Gain on lease modification -- (4,538,304) Net movement in provision for inventories 200,000 -- Gain on disposal of property, plant and equipment (3,757,892) (1,377,107) Employees’ end of service benefits 1,870,567 1,103,277 160,535,148 203,628,381 Movements in working capital: Inventories (50,454,171) 10,275,021 Prepayments and other debit balances 11,313,810 13,170,416 Advances to contractors and suppliers (2,829,815) (203,832) Due from related parties (77,818) 2,315,817 Accounts receivable 20,108,302 23,577604 Contract assets 306,958 (1,233,264) Accounts payable (4,727,455) 1,032,214 Due to related parties (103,004) (1,316,650) Retention payables (235,037) (1,735,891) Accruals and other liabilities 12,577,438 (8,238,172) Cash generated from operations 146,414,356 241,271,644 Employees’ end of service benefits paid (1,569,944) (1,591,294) Income tax paid (324,284) (370,857) Interest paid on lease liabilities (1,509,348) (4,022,615) Finance cost paid (54,716,512) (72,511,784) Net cash generated from operating activities 88,294,268 162,775,094
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QATARI INVESTORS GROUP Q.P.S.C. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS For the nine-month period ended September 30, 2026 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - 7 - This statement has been prepared by the Group and stamped on by the Auditors for identification purposes only. For the nine-month period ended September 30, 2026 2025 Notes (Unaudited) (Unaudited) QR. QR. INVESTING ACTIVITIES Proceeds from disposal of property, plant and equipment 8,776,491 4,046,851 Additions to property, plant and equipment 4 (7,806,262) (13,236,249) Additions to investment properties 6 (1,347,432) (3,612,267) Dividend from investment in associates 6,306,161 7,505,049 Net cash generated from / (used in) investing activities 5,928,958 (5,296,616) FINANCING ACTIVITIES Proceed from bank borrowings 31,994,520 3,563,434 Repayment of bank borrowings (133,163,633) (117,162,782) Payment of lease liabilities (4,622,688) (11,402,379) Payment of social and sports fund contribution (3,612,672) (4,132,014) Notes payable (3,688,257) 603,870 Dividend paid (124,326,778) (161,624,811) Net cash used in financing activities (237,419,508) (290,154,682) Net decrease in unrestricted cash and cash equivalents (143,196,282) (132,676,204) Unrestricted cash and cash equivalents at the beginning of the period 327,182,302 408,319,260 Unrestricted cash and cash equivalents at the end of the period 12 183,986,020 275,643,056
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 8 - 1. INCORPORATION AND ACTIVITIES Qatari Investors Group Q.P.S.C. (the “Company”) is a Qatari Public Shareholding Company incorporated in the state of Qatar on May 4, 2006, in accordance with the Qatar Commercial Companies Laws and the terms of its Articles of Association. The Company operates under commercial registration No. 32831. The Company is primarily engaged in managing and providing necessary support to its subsidiaries and affiliates, in addition to owning moveable and real estate properties for operating its business. The address of the Company’s head office is QIG Tower, Lusail, Qatar. The interim condensed consolidated financial statements comprise the interim financial statements of the Company and of its subsidiaries (collectively “the Group”). The Group controls the following entities as at September 30, 2026: Name of subsidiary Place of incorporation Ownership interest Principal Activity QIG Industries L.L.C.* Qatar 100% Mechanical and industrial engineering works QIG Technology Company L.L.C.* Qatar 100% Information technology services QIG Projects Development L.L.C.* Qatar 100% Industry supplies and engineering works QIG Property L.L.C. Qatar 100% Real estate The Investors Company L.L.C. Qatar 100% Trading of building materials, equipment and trucks Qatari Investment Group L.L.C. Qatar 100% Trading in computer systems QIG Marine Services Company L.L.C. Qatar 100% Marine services and shipping QIG Trading Company L.L.C. Qatar 100% Representing International Companies QIG Financial Services L.L.C. Qatar 100% Subsidiary Management Support, Movable Property Ownership, Patent Ownership & Leasing QIG Contracting L.L.C. Qatar 100% Industry supplies and engineering works Qatar Investments Group L.L.C. Qatar 100% Subsidiary Management, Patent Licensing, Movable Asset Ownership * These entities hold investments in Al Khalij Cement Company L.L.C, International Technical and Trading Company L.L.C., Qatar Security Systems L.L.C. and Mobility Car Rental L.L.C, respectively. The Group has control of these entities and accordingly, acco unts for these as subsidiaries. The results of the subsidiaries have been consolidated in these interim condensed consolidated financial statements. During the period, the Group de-recognised certain subsidiaries , namely Resa Prime Services L.L.C. , United Shipping QFC, First Logistics L.L.C and E L M International Trading Interior Design And General Contracting L.L.C.
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 9 - 2. BASIS OF PREPARATION The interim condensed financial information for the nine-month period ended September 30, 2026 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (“IAS 34”). The interim condensed consolidated financial information does not include all information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual consolidated financial statements for the year ended December 31, 2025. In addition, results for the nine-month period ended September 30, 2026, are not necessarily indicative of the results that may be expected for the financial year ending December 31, 2026. The interim condensed consolidated financial information is prepared in Qatari Riyals, which is the Company’s functional and presentation currency. Judgments, estimates and risk management The preparation of the interim condensed consolidated financial information requires management to make judgments, estimates and assumptions that affects the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The significant judgments made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the Group’s annual consolidated financial statements for the year ended December 31, 2025. Geopolitical situation Since February 28, 2026 geopolitical instability has escalated in the Middle East and events are unfolding day-by-day. This matter requires revisions of certain assumptions and estimates which may lead to adjustments to the carrying value of certain assets and liabilities. The Group continues to monitor the situation closely and reassess relevant assumptions and estimates as circumstances develop. Based on the assessment performed to date, management has not identified any material impact on the Group’s financial position, operations, or the carrying value of its assets and liabilities as of September 30, 2026. 3. MATERIAL ACCOUNTING POLICIES The accounting policies used in the preparation of these condensed interim financial information are consistent with those used in the preparation of the Group’s annual financial statements for the year ended 31 December 2025, and the notes attached thereto, except for the adoption of certain new and revised standards, that became effective in the current period as set out below. New and revised standards and interpretation issued and effective Effective for annual periods beginning after January 1, 2026 - Amendments to IFRS 9 and IFRS 7 - Amendments to the Classification and Measurement of Financial Instruments - Amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature-dependent Electricity - Annual Improvements to IFRS Accounting Standards -Volume 11- Amendments to IFRS 1 First - time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures and its accompanying Guidance on implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements, and IAS 7 Statement of Cash Flows
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 10 - 3. MATERIAL ACCOUNTING POLICIES (CONTINUED) New and revised standards and interpretation issued but not yet effective Effective for annual periods beginning after January 1, 2027 - IFRS 18 Presentation and Disclosures in Financial Statement - IFRS 19 Subsidiaries without Public Accountability: Disclosures Effective for annual periods beginning after January 1, 2029 - IFRS 20 Regulatory Assets and Regulatory Liabilities Management anticipates that these new standards, interpretations and amendments will be adopted in the Group’s financial statements as and when they are applicable. The Group is currently evaluating the impact of these new standards and amendments to existing standards. 4. PROPERTY, PLANT AND EQUIPMENT September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Net book value at January 1, 2,047,412,435 2,103,569,215 Additions during the period / year 7,806,262 21,218,809 Transfers to investment properties -- (12,124,883) Write-off during the period / year (108,227) -- Disposals during the period / year (5,018,599) (5,051,218) Depreciation for the period / year (42,789,546) (60,199,488) Net book value 2,007,302,325 2,047,412,435 Certain plant assets are possessory mortgage to secure the credit facilities (Note 31 ). * During the prior period, the Group transferred a portion owner occupied propert y to investment properties at fair value, which resulted in a revaluation surplus of QR 8,660,631. The surplus was recognised to other comprehensive income and to property revaluation reserve under equity. 5. RIGHT-OF-USE ASSETS September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Cost: Balance as at January 1, 50,947,672 167,627,531 Additions during the period / year 2,220,236 1,216,815 Completed/modified during the period / year (912,756) (117,896,674) 52,255,152 50,947,672 Accumulated amortisation: Balance as at January 1, 26,974,385 62,665,958 Charge for the period / year 3,328,180 13,998,578 Completed/modified during the period / year (912,756) (49,690,151) 29,389,809 26,974,385 Net book value 22,865,343 23,973,287
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 11 - 6. INVESTMENT PROPERTIES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Net book value at January 1, 864,417,894 838,016,722 Additions during the period / year 1,347,432 4,902,796 Transfers from property, plant and equipment -- 20,785,514 Net changes in fair value during the period / year -- 712,862 Net book value 865,765,326 864,417,894 The fair value of the Group’s investment properties as at December 31, 2025, are arrived on the basis of a valuation carried out at the date by a qualified, external, independent property valuer certified in the State of Qatar and they have appropriate recognized qualifications and relevant experience in the location and category of the properties being valued. Management has assessed and concluded that there are no significant changes to this value as of September 30, 2026. 7. INVESTMENT IN ASSOCIATES The Group has interests in associate companies which are all incorporated in Qatar with a profit-sharing percentage varying between 20% to 50%. Despite holding more than 50% of the shareholding of these companies, based on contractual arrangements, the Group does not have control over the financial and operating policy decisions and hence has a significant influence only over the associate companies as of September 30, 2026. Movement in the investment in associates balance during the period/ year is as follows: September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Balance as at January 1, 30,412,019 21,274,863 Share of profit from investment in associates 5,821,071 16,642,205 Dividend received from investment in associates (6,306,161) (7,505,049) 29,926,929 30,412,019 8. DERIVATIVE FINANCIAL ASSET September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Interest rate swaps- cash flow hedges 29,326,139 32,792,819 Classified as: Current portion 10,664,050 9,369,376 Non-current portion 18,662,089 23,423,443 29,326,139 32,792,819
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 12 - 9. INVENTORIES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Finished goods 3,798,335 3,818,794 Semi-finished goods 295,800,178 235,243,578 Raw materials 11,477,459 22,957,518 Goods-in-transit 104,301 634,004 Spare parts 54,999,741 53,071,949 366,180,014 315,725,843 Less: provision for inventories (2,327,047) (2,127,047) 363,852,967 313,598,796 The movement in the provision for inventories is as follows: September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Balance as at January 1, 2,127,047 2,482,143 Net movement during the period / year 200,000 (355,096) 2,327,047 2,127,047 10. PREPAYMENTS AND OTHER DEBIT BALANCES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Accrued income 4,366,334 4,613,416 Prepayments 3,139,304 4,335,995 Refundable deposits 27,772,522 28,386,777 Due from staff 1,839,716 1,657,139 Others* 8,077,689 17,516,048 45,195,565 56,509,375 *This mainly includes the amount of accrued interest recoverable as a result of hedging. 11. ACCOUNTS RECEIVABLE September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Accounts receivable 104,251,207 124,359,509 Less: loss allowance (15,021,818) (15,385,662) 89,229,389 108,973,847
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 13 - 11. ACCOUNTS RECEIVABLE (CONTINUED) The aging of accounts receivable was as follows: September 30, 2026 Less than 90 Days 91 to 180 Days 181 to 270 days 271 to 365 days More than 365 days Total QR. QR. QR. QR. QR. QR. Expected credit loss rate 1.57% 5.78% 23.78% 6.40% 100.00% Estimated total gross carrying amount at default 75,107,382 8,967,615 3,851,548 4,181,319 12,143,343 104,251,207 Lifetime ECL (1,176,744) (518,140) (916,073) (267,518) (12,143,343) (15,021,818) 73,930,638 8,449,475 2,935,475 3,913,801 - 89,229,389 December 31, 2025 Less than 90 Days 91 to 180 Days 181 to 270 days 271 to 365 days More than 365 days Total QR. QR. QR. QR. QR. QR. Expected credit loss rate 1.83% 2.76% 2.51% 10.99% 100.00% Estimated total gross carrying amount at default 85,290,439 15,674,903 7,495,992 3,025,540 12,872,635 124,359,509 Lifetime ECL (1,560,046) (432,114) (188,319) (332,548) (12,872,635) (15,385,662) 83,730,393 15,242,789 7,307,673 2,692,992 - 108,973,847 The movement in the provision for loss allowance was as follows: September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Balance as at January 1, 15,385,662 24,273,174 Net movement during the period / year (363,844) (8,887,512) 15,021,818 15,385,662 12. CASH AND BANK BALANCES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Cash on hand 514,676 541,445 Bank balances: Current accounts 69,422,362 130,694,687 Saving accounts 7,289,482 7,356,850 Term deposits with maturity of three months or less * 106,759,500 188,589,320 Unrestricted cash and cash equivalents 183,986,020 327,182,302 Restricted cash / Margin deposits ** 295,007,677 267,357,903 Cash and bank balance 478,993,697 594,540,205
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 14 - 12. CASH AND BANK BALANCES (CONTINUED) * Term deposits and saving accounts are placed with various local banks and earn an effective profit rate ranging from 0.80% to 4.52% per annum (2025: ranging from 0.80% to 5.80% per annum). ** Restricted cash mainly composed of dividends to be paid to shareholders, held at a dedicated local bank account in addition to bank margin kept as pledged account to secure bank guarantees and letter of credits. Balances with banks are assessed to have low credit risk of default since these banks are highly regulated by the Qatar Central Bank. Accordingly, the management of the Group have assessed that there is no material impairment and hence have not recorded any loss allowances on these balances. 13. BANK BORROWINGS September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Facility I (i) 2,529,173 6,948,887 Facility II (ii) 655,823,360 802,461,755 Facility III (iii) 31,994,520 -- 690,347,053 809,410,642 September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Classified as: Current portion – Gross 215,493,169 186,324,697 Less: deferred charges (40,089,352) (51,185,473) Current portion – Net 175,403,817 135,139,224 Non-current portion - Gross 560,814,263 756,150,056 Less: deferred charges (45,871,027) (81,878,638) Non-current portion – Net 514,943,236 674,271,418 690,347,053 809,410,642 (i) The Group has a facility with a local bank amounting to QR. 40,000,000 to finance 75% of the cost of vehicle purchases. The loan bears an interest rate of 4.60% per annum and is secured against the vehicles purchased. The loan amount will be repaid in 48 equal monthly installments for each drawdown after a six-month grace period. (ii) The Group has a syndicated term loan facility agreement with two local banks. The facility amount of USD 407.9 million is currently carrying the average interest rate of 3.35% (202 5: 3.35%) per annum. The final maturity date of this facility is 10 years from the date of first drawdown, and the repayments are to be made in 19 semi-annual instalments of USD 25 million starting from January 02, 2020, with final settlement of the balance loan value in July 2029. The credit facilities are secured by a possessory pledge over the cement plant, routing of revenue proceeds of the cement factory to the bank accounts, assign cement plant insurance, assign usage right over plant leasehold land favoring the bank to cover the limits including the profit and corporate guarantees from Qatari Investors Group Q.P.S.C. and a subsidiary company.
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 15 - 13. BANK BORROWINGS (CONTINUED) (iii) The Group has credit facility with two local bank s amounting to QR. 150 million. The loan bears an interest rate ranging from 4.65% to 4.85% per annum and is secured against the corporate guarantees from Qatari Investors Group Q.P.S.C. and a subsidiary company. The loan amount will be repaid after a grace period of 180 to 210 days. Reconciliation of liabilities arising from financing activities The table below details changes in the Group’s liabilities arising from financing activities, including cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows from financing activities. As at January 1, 2026 Financing cash flows - net Non cash changes As at September 30, 2026 QR. QR. QR. QR. Bank borrowings 809,410,642 (101,169,113) (17,894,476) 690,347,053 Lease liabilities 28,644,417 (4,622,688) 2,220,236 26,241,965 Notes payable 4,495,715 (3,688,257) -- 807,458 Dividend payable 266,017,097 (124,326,778) 151,976,554 293,666,873 As at January 1, 2025 Financing cash flows Non-cash changes As at December 31, 2025 QR. QR. QR. QR. Bank borrowings 933,552,970 (115,181,411) (8,960,917) 809,410,642 Lease liabilities 111,385,490 (15,754,583) (66,986,490) 28,644,417 Notes payable 2,645,725 1,849,990 -- 4,495,715 Dividend payable 230,545,103 (161,624,811) 197,096,805 266,017,097 14. LEASE LIABILITIES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Balance as at January 1, 28,644,417 111,385,490 Additions during the period / year 2,220,236 1,216,815 Modification during the period / year -- (72,744,850) Interest expenses for the period / year 1,509,348 4,541,545 Payments during the period / year (6,132,036) (15,754,583) 26,241,965 28,644,417
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 16 - 14. LEASE LIABILITIES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Classified as: Payable not later than one year 6,601,117 6,009,117 Less: deferred interest expenses (1,772,394) (1,906,831) Current portion – Net 4,828,723 4,102,286 Payable later than 1 year but not later than 5 years 23,862,948 27,173,858 Payable later than 5 years 1,611,582 2,528,630 Less: deferred interest expenses (4,061,288) (5,160,357) Non-current portion – Net 21,413,242 24,542,131 26,241,965 28,644,417 15. REVENUE The Group derives its revenue from contracts with customers for the transfer of goods and services overtime and at a point in time in the following major product lines: For the nine-month period ended September 30, 2026 2025 (Unaudited) (Unaudited) Revenue- at a point in time Revenue from industrial activities 241,399,774 333,947,773 Revenue- over the period Contracting revenue 20,248,050 28,565,180 Services revenue – marine and logistics services 6,426,781 18,445,213 Services revenue – vehicle rental 22,102,859 21,538,047 Lease income from investment properties 23,645,042 30,238,524 313,822,506 432,734,737 16. BASIC AND DILUTED EARNINGS PER SHARE For the nine-month period ended September 30, 2026 2025 (Unaudited) (Unaudited) Net profit for the period after income tax attributable to shareholders of the Company (QR.) 81,537,664 102,104,156 Weighted average number of shares 1,243,267,780 1,243,267,780 Basic and diluted earnings per share (QR.) 0.07 0.08 The basic and diluted earnings per share for the period are the same as there are no diluted effects on earnings.
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 17 - 17. SEGMENT INFORMATION The Company and its subsidiaries are organized into below main business segments and operate only in Qatar. Details of each segment as of and for the nine-month period ended September 30, 2026, are stated below: Real estate Marine Services Industrial Contracting and technology Other segments Consolidated QR. QR. QR. QR. QR. QR. As at September 30, 2026 (Unaudited) Total assets 896,157,617 76,743,794 2,744,867,886 34,516,238 439,482,710 4,191,768,245 Total liabilities (15,709,572) (30,881,748) (786,523,746) (575,403) (408,453,199) (1,242,143,668) For the nine months period ended September 30, 2026 * (Unaudited) Revenue 23,083,571 7,354,883 242,956,058 20,207,946 27,592,516 321,194,974 Net profit / (loss) 6,610,845 9,129,457 85,145,564 (2,718,295) (16,629,907) 81,537,664 As at December 31, 2025 (Audited) Total assets 888,134,559 73,639,464 2,877,206,882 41,661,598 446,534,871 4,327,177,374 Total liabilities (13,819,428) (24,329,668) (997,968,391) (16,108,409) (281,409,577) (1,333,635,473) For the nine months period ended September 30, 2025 * (Unaudited) Revenue 21,640,232 21,610,160 336,771,251 28,439,035 31,870,247 440,330,925 Net profit / (loss) 13,052,455 569,233 100,354,312 2,921,873 (16,456,969) 100,440,904 * The segment revenue includes revenues, investment income and share of profit from associates.
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QATARI INVESTORS GROUP Q.P.S.C. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine-month period ended September 30, 2026 - 18 - 18. CONTINGENT LIABILITIES September 30, December 31, 2026 2025 (Unaudited) (Audited) QR. QR. Letters of bank guarantees 30,362,639 31,474,349 Letters of credit - 1,329,400 Secured cheques 6,359,075 6,806,027 19. LEGAL CASES As of September 30, 202 6, there are no ongoing lawsuits that would negatively affect the Group. 20. COMPARATIVE FIGURES The comparative figures for the period ended September 30, 2025, presented in the interim condensed consolidated financial statements were not reviewed in prior period ended September 30, 2025. 21. APPROVAL OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS These interim condensed consolidated financial statements of the Group for the nine-month period ended September 30, 2026, were authorized for issue by the Board of Directors on October 21, 2026.