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Rasan’s Earnings Call9M - 2025November 4th, 2025
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2 DISCLAIMERThis presentation contains certain statements that are forward-looking statements. They appear in a number of places throughout this presentation and include statements regarding the intentions, beliefs and/or current expectations of Rasan Information Technology Co (“Rasan” or the “Company”) and its subsidiaries (together, the “Group”) and those of their respective officers, directors and employees concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and the businesses operated by the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this presentation and, unless otherwise required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements. Nothing in this presentation should be construed as a profit forecast. The Company and its directors accept no liability to third parties. This presentation contains brands that are trademarks and are registered and/or otherwise protected in accordance with applicable law.
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3 AGENDA Opening remarks01 |Business Update02 |Financial Performance03 |FY2025 Guidance04 |Q&A05 |
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OPENING REMARKS
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5 9M-2025: Continued profitable growth Robust Revenue growth +83%Y-o-Y Strengthening EBITDA margin 42%+14p.p. vs 9M 24+5p.p. vs H1 25 •Establishing Domestic Helpers•Affirmed the transition of the leasing partnerships•Continue scaling new insurance products (i.e. Travel, MMP , Health Individual, Home…)•Progressing full speed in the financial services innovation
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6 9M-2025: Financial highlights GWP~6.0 B28% Y-o-Y Revenue440 MM83% Y-o-Y Gross Profit312 MM+115% Y-o-Y Adj. Net Profit172 MM+213% Y-o-Y Volumes +88% Health +23% Motor Retail+30% Motor Leasing Operating Cashflow 147 MM55% Y-o-Y Note: GWP= Gross Written Premiums
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BUSINESS UPDATE
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8 Continued momentum across our business lines +53% +160% +56% +139% Motor RetailMotor LeasingHealthOther Products 83% cumulative revenue growth YoY % revenue growth 9M YoY
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9 Strengthening and accelerating our core portfolio §Strengthened the service and customer experience with a revamp of the digital properties, with customer protection always first§Executed the model transition and reinforced the responsible partnerships with the ecosystem Continued model innovation Motor Retail Motor Leasing +160%Revenue growthYoY Revenue growth +53%YoY +6p.p.YoY +70%YoY +19%YoY Renewal rateComprehensive GWPTPL GWP Health SME Revenue growth +56%YoY +15p.p.YoY +35%YoY +108%YoY Renewal rateSME GWPSME Higher Classes GWP
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10 Continuing to grow the portfolio with strategic timing Motor Health Other General Life Financial Services 1. Domestic Helper; 2. MHRSD platform for managing & recruiting all DH in KSA New products Portfolio development in progress Continuing to build and scale in line with the plan. Timing marketing and push strategically. Motor FleetsDomestic Helpers - Health Health Corporate (Pilot) Health IndividualMMPTravelDomestic Helpers - Contract Home Protection & Savings
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FINANCIAL PERFORMANCE
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12 Million 9M 20249M 2025YoY VarRevenue240 440 +83%Gross Profit145 312 +115%Gross Profit Margin 60% 71% +11p.p.Opex 88 154 +75%Adj. EBITDA1 68 187 +176%Adj. EBITDA Margin28% 42% +14p.p.Adj. Net Profit1 55 172 +213% 9M-2025 Summary P&L: Strong performance across the board 1. Adjusted EBITDA and net income excludes non-cash ESOP impact
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13 Solid growth and continued product diversificationRevenue MM Revenue by ProductRevenue contribution (%) üRasan delivered record revenue growth of 83% YoY üThe performance was underpinned by continued growth in motor retail, upgrades in motor leasing business model, on-boarding of new customers in our motor leasing business, strong growth in health and early traction from recently launched verticals üMotor revenue performed well supported by robust growth in both the motor retail and motor leasing segments |Motor Retail: +76 million (vs. 9M24) |Motor Leasing: + 102 million (vs. 9M24) 124195 Q3 2025Q2 2025 57% 240440 9M 20259M 2024 +83% 95%74%62%63%55%50% 16%15%14%11%20%20%21%30%38%2% 2020 6% 20212022 1% 2023 1% 2024 2% 9M 2025 2% Motor RetailHealthOther productsMotor Leasing Other products consolidates Awal Mazad, Warshati, R Solution, MMP, Travel and Domestic Helper
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14 Solid and attractive gross profit as a result of an efficient cost baseüRasan continued to deliver strong profitability in the first 9M of 2025, with gross profit increasing by 115% year-on-year to SAR 311.7 million üGross profit margin improved substantially, increasing from 60.2% in 9M 2024 to 70.9% in 9M 2025, reflecting improved cost absorption and scalability across the businessüThe gross profit margin improved due to a focus on improved product mix with a focus on comprehensive insurance and otherhigher-margin products145 312 +76+102 -32 Gross Profit 9M 24 Gross Profit 9M 25Other Products +4 Health +17 Motor LeasingMotor Retail Direct personnel & other direct costs Gross Profit Margin Bridge MM Gross Profit and Margin MM, % 71%60%70%73% 90135 Q3 2025Q2 2025 +50% 145312 9M 20259M 2024 115% GP Margin
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15 Resilient and growing Adj. EBITDAüAdjusted EBITDA rose by 176% YoY to 186.5 million in 9M 2025, with an adjusted EBITDA margin of 42.4%, up from 28.1 % in the 9M of 2024 üThis strong performance reflects strong top-line growth, operational leverage, and continued diversification of Rasan’s product portfolio üWhile marketing expenses increased during the period – aligned with the Group’s strategy to invest in expanding and launching new products – these were more than offset by improved unit economics and scale efficiencies across core verticals 1. Adjusted EBITDA excludes non-cash ESOP impact 68 187120 47 15 EBITDA 9M 24 ADJ EBITDA 9M 25G&A -21 Marketing Expenses -42 Gross Margin EffectRevenue Effect Adjustments1 Adj. EBITDA1 Bridge MM Adj. EBITDA1 evolution and Margin MM, % 42%28%49%45% 56 95 Q3 2025Q2 2025 +69% 68186 9M 20259M 2024 176% EBITDA Margin
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16 High conversion rate from Adj. EBITDA to Adj. Net profitAdj. Net Profit and Margin MM, % Adj. Net Profit Bridge MM üAdjusted net profit reached 172.2 million in 9M 2025, representing an increase of 213% YoY üHigh conversion rate of Adj. EBITDA to Adj. Net Profit due to:|Controlled depreciation and amortization expenses, consistent with Rasan’s capital-light model |Conservative balance sheet with no debt|Other operating income generated from term deposits ü9M 25 Adj. net profit margin strongly improved YoY to 39.2% vs. 22.8% in 9M 24 1. Adjusted Net Profit excludes non-cash ESOP impact 187 172 Total Zakat & TaxAdj EBITDA 9M 251 Other IncomeADJ Net Profit 9M 25 -14 D&A -14 Finance Cost 0 +14 39%23%46%41% 51 89 Q3 2025Q2 2025 +74% 55 172 9M 20259M 2024 +213% Net Profit Margin
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Updated FY 2025 Guidance
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18 Upgrading guidance to reflect accelerated business momentum 9M25AUpdated FY 2025 GuidanceFY24A Revenue Growth (YoY) 440 MM82.8% p.a.625 - 650 MMYoY growth 75% - 82%358 MM40.0% p.a. Gross Profit Margin (%) 70.9% 68.0 – 70.0%66.5% Adj. EBITDA Margin (%) 42.4%38.0 – 41.0%31.7%
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ﹰاﺮﻜﺷ Thank You