Slides
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Investor Presentation Q2 2026 2
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Page No. 1. Macro Economic Overview & KSA Real Estate Market 4 2. Key Business Indicators Overview 9 3. Financial Performance Overview 12 4. Overview of Assets Portfolio 16 5. Projects Developed by Dar Global PLC 21 6. Appendix 30 Table of Contents 3
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MACRO ECONOMIC OVERVIEW & KSA REAL ESTATE MARKET1 | 4
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Macroeconomic Overview Source: Ministry of Finance, Statista, GASTAT ▪ The price of Brent oil stood at $73.4 per barrel as of June 30 2026, an increase of 6.2% from the 2025 price of $69.1. ▪ During Q2 2026, oil prices experienced significant volatility, driven by heightened geopolitical tensions in the Middle East and concerns over potential supply disruptions. As the conflict eased and key shipping routes remained operational, prices moderated, with market sentiment shifting back to global demand expectations and OPEC+ supply policies. ▪ Slower global growth, elevated inflation, and heightened geopolitical uncertainty have created a more challenging operating environment for the Kingdom. Nevertheless, Saudi Arabia’s economic diversification continues to support resilient non-oil growth, while temporarily higher oil prices provided additional support to economic activity and fiscal revenues despite ongoing market volatility. ▪ Higher OPEC+ production and a temporary oil price rally amid the U.S.–Iran conflict supported oil revenues during Q2 2026. As tensions eased, prices moderated, while OPEC+ maintained a flexible production strategy. FY 2026 Outlook: KSA Real GDP Growth at 4.6% Average Brent Oil Prices ▪ The FY 2026 Budget estimates a deficit of SAR 165 bn (3.3% of GDP). ▪ In Q2 2026, reported actual revenue of SAR 338.8 bn and reported expenditure of SAR 373.1 bn, resulting in a deficit of SAR 34.3 bn. Oil revenue increased 22% YoY to SAR185.1 bn. Non-oil revenue grew 3% YoY to SAR153.7 bn. ▪ The budget deficit is estimated to continue at lower levels over the medium term to support economic growth, stimulate investment, and expedite economic transformation in line with Saudi Vision 2030 objectives. ▪ The FY2026 budget aims to strengthen the Kingdom’s strong fiscal position, as well as maintain sustainable levels of public debt and considerable financial reserves. This contributes to achieving sustainable economic growth and preserving flexibility to deal with shocks, crises, or urgent needs. ▪ The closing balance of Government Reserve in Q2 of FY 2026 is SAR 399.1 bn. ▪ The closing balance of Public Debt in Q2 of FY 2026 is SAR 1.69 tn. FY 2026 Outlook: Real GDP Growth of 4.6% 2026 Budget Deficit Estimated at 3.3% of GDP Source: Ministry of Finance ▪ As per the Ministry of Finance, the preliminary estimates indicate Kingdom’s real GDP growth of 4.6% for FY 2026, driven by the growth of non-oil activities led by the private sector which serves as the key driver of economic growth in the coming period . ▪ According to the Ministry of Finance, the total projected revenues for FY 2026 of SAR 1.15 tn, an increase of 3.6% from 2025 actual revenue of SAR 1.11 tn, and an increase of 5.1% from what is expected in FY 2025. ▪ Structural reforms and economic diversification continue to strengthen the Kingdom's economic resilience, supporting sustained growth in non-oil revenues and reinforcing fiscal sustainability. ▪ According to the Saudi Ministry of Finance's FY 2026 Budget Statement, total revenues are projected to be SAR 1.23 tn in FY2027 and SAR 1.29 tn in FY2028, supported by continued economic growth and diversification. Source: Statista 5 Source: Ministry of Finance &GASTAT 2.5% -2.0% -2.5% -6.0% -3.3% -2.3% -2.2% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 2022 A2023 A2024 A2025 E2026 P2027 P2027 P 70.9 100.9 82.5 80.5 69.1 73.4 0 20 40 60 80 100 120 2021 2022 2023 2024 2025 Q2 2026 2021 2022 2023 2024 2025 Q2 2026 8.7% -0.8% 1.3% 4.5% 4.6% 3.7% 4.5% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 2022 A 2023 A 2024 A 2025 A 2026 P 2027 P 2028 P