23 slides from Kuwait Projects Company Holding (k.s.c.p.)'s earnings presentation, August 2026
Slide 1: KIPCO H1 2026 Investors' Call
KIPCO H1 2026 INVESTORS’ CALL
Slide 2: Disclaimer
Disclaimer This presentation has been made for informational purposes and does not involve an invitation to subscribe to, purchase, or sell any security. No warranty is given on the accuracy or completeness of the information in this presentation. Independent research is recommended to evaluate and
Slide 3: Overview
OVERVIEW her Pern sae
Slide 4: KIPCO Group: Investment Case at a Glance
KIPCO Group: Investment Case at a Glance Operating Holding Company Diversified Portfolio Quality Assets 50+ years of operating track record; US$ 47bn Spread across 9 sectors and 20+ countries in the Controlling or significant stakes in regional sector asset base MENAT region leaders Strong Track Rec
Slide 5: Diversification by Design
Diversification by Design Key companies across multiple sectors Banking & Industrial & Health & Media & Energy Real Estate Financial Services Logistics Education Entertainment 1 2 3 Capital efficiency Development Sector Alignment with Growth sectors, well-positioned Value creation and and income pip
Slide 6: Highlights of the Period
HIGHLIGHTS OF THE PERIOD
Slide 7: Macroeconomic Landscape
Macroeconomic Landscape Slower economic activity, continued high rate environment and inflationary pressure (particularly in Turkey) continue to impact businesses. However as regional conditions recover, performance is expected to normalize in the coming period. Key developments: Key impacts: 2026 g
Slide 8: Key Financial Highlights: H1 2026
Key Financial Highlights: H1 2026 Total Revenue US$ 2.58b KIPCO Group revenues grew by 3.5% despite the challenging environment. ▲ 3.5% vs. H1 2025 Total Assets KIPCO Group balance sheet expanded by 4.6%, largely led by growth in its banking business. US$ 46.9b ▲ 4.6% vs. Dec 2025 Net Debt to Equity
Slide 9: KIPCO Group: Revenue metrics
KIPCO Group: Revenue metrics Topline remains well-diversified; growth in H1’26 driven largely by increase in banking net interest income. Net Interest Income* Net Fee & Commission Income* Industrial & Logistics Income (US$ billion) (US$ million) (US$ million) Total Revenue 1.33 (US$ billion) 1.25 1.
Slide 10: KIPCO Group: Operating performance metrics
KIPCO Group: Operating performance metrics Stable operating profit generated; net profit decline primarily due to the impact of deterioration in the macro backdrop. Operating Profit Total profit for the period Net Profit Attributable to shareholders (US$ million) (US$ million) (US$ million) +4.6% 13
Slide 11: KIPCO Group: Balance sheet metrics
KIPCO Group: Balance sheet metrics KIPCO Group assets grew by 4.6% YTD; balance sheet reflects well-diversified asset base. Total Assets Equity attributable to shareholders Book Value per Share (US$ billion) (US$ billion) (US$ cents per share) +7.5% 45.1 46.1 45.5 46.9 2.09 2.13 44.9 2.06 42.1 2024
Slide 12: Portfolio Financial Performance
PORTFOLIO FINANCIAL PERFORMANCE
Slide 13: Burgan Bank
Burgan Bank Broad-based revenue growth of 9% YoY & loan growth of 5% YTD reflects the bank’s well-diversified revenue streams & long-term growth focus. Revenue Net Profit(1) Loans and Advances Customer Deposits • Broad-based growth across core (US$ mn) (US$ mn) (US$ bn) (US$ bn) revenue streams, sup
Slide 14: Jordan Kuwait Bank
Jordan Kuwait Bank Resilient core profitability, supported by 16% YoY growth in Net Interest Income; revenue decline primarily due to lower FX income from its Iraqi subsidiary. Revenue Net Profit(1) Loans and Advances Customer Deposits • Strong net interest income (US$ mn) (US$ mn) (US$ bn) (US$ bn)
Slide 15: SADAFCO
SADAFCO Topline remained largely stable; margins impacted modestly due to rise in import costs on the back of recent regional developments; market share remained firm. Revenue* Operating Profit* Net Profit* • Net operating margins fell, driven largely by higher (US$ mn) (US$ mn) (US$ mn) raw materia
Slide 16: United Real Estate Company
United Real Estate Company Resilient revenue levels reflect well-diversified income streams; growth in operating profit reflects focus on efficiency & cost discipline. Revenue Operating Profit Net Profit(1) Total Assets • Revenue growth driven by higher (US$ mn) (US$ mn) (US$ mn) (US$ bn) real estat
Slide 17: JTC
JTC Diversified revenue streams ensured marginal impact on topline and bottomline despite the ongoing geopolitical developments. Revenue Operating Profit Net Profit(1) • Lower revenue from ports management and logistics (US$ mn) (US$ mn) (US$ mn) contracts, offset by increase in equipment leasing re
Slide 18: NAPESCO
NAPESCO Topline growth maintained; operational efficiency & cost focus driving growth in profitability. Revenue Operating Profit Net Profit(1) • Higher revenue from non-oil field services, partially offset by (US$ mn) (US$ mn) (US$ mn) marginal decline in revenue from oil field services. +20.8% • Op
Slide 19: ATC
ATC H1 2026 performance reflects impact of supply chain disruptions due to the current geopolitical situation. Revenue Operating Profit Net Profit(1) • Revenue decline reflects delays in contract renewals, (US$ mn) (US$ mn) (US$ mn) increased freight charges (in the interim), delayed deliveries. -12
Slide 20: OSN Group
OSN Group Two years of delivery & a two-year plan to drive profitability through synergy, AI and operational leverage. MENA’s integrated streaming platform: OSN+ l OSNtv l Anghami Two-year track record +57% +44% Subscribers Subscribers Group reach across audio, video & business 3.6M 45 100K Paid sub
Slide 21: ESG Update
ESG Update Jun 2026 Jul 2026 KIPCO publishes its 5th sustainability JKB issued its 2nd Green Bond, with IFC report, reinforcing a more integrated investing up to US$ 100m to finance green sustainability approach across the Group. projects delivering long-term environmental and economic impact. Jul 2
Slide 22: Closing
Closing • Continued progress on portfolio performance, deleveraging and value creation. • Diversification benefits visible as Group revenues remain resilient. • Profitability impact transitory. • Capital & liquidity at Parent level remain strong. • Portfolio companies’ underlying fundamentals remain
Slide 23: Thank You
THANK YOU