United Real Estate Company · KSE:URC
United Real Estate — Q1 2026 Earnings Presentation
28 slides from United Real Estate's earnings presentation, May 12, 2026
Slide 1: Letter to Boursa Kuwait on Q1 2026 conference presentation
dadig| Sljlael| a5 yb United Real Estate Company United Real Estate Co KS.CP _ Authorized and Paid-up Capital KD 143,054,551.3 C.R:19140/1980 dail! Gilaell a4 (aolc) .4l.p.uu e).3 143,054,551.3 cgaaollg y apooll Jloll yuly 1980/19140 ody sjlai Jaw Date: 12-May-2026 Our ref: RCD-26-19 Boursa Kuwait C
Slide 2: Q1 2026 Analyst/Investor Presentation
Q1 2026 Analyst/Investor Presentation
Slide 3: Disclaimer
Disclaimer The information contained in this presentation is provided by United Real Estate Company K.S.C.P. (the “Company” or “URC”) or any person on behalf of the Company, (the “Information”). This presentation has been made for informational purposes and does not involve an invitation to subscrib
Slide 4: Table of Contents
Table of About Us Contents Key Developments Financial Performance ESG Update
Slide 5: URC is a leading property developer shaping the urban landscape
United Real Estate Company (URC) is a leading property developer shaping the urban landscape in Kuwait and the wider region. The company delivers high-quality residential, commercial, hospitality, and mixed-use developments, consistently demonstrating a strong commitment to quality and innovation. U
Slide 6: Overview
Overview Og) fasion Sijtial a5 ph United Real Estate Co
Slide 7: Key Facts & Figures
Key Facts & Figures 1973 +50 + 3 Bn YEARS USD Established in Of Legacy and Growth Assets under Management (1) 1984 361Mn 5.9Mn KD SQM Listed in Boursa Kuwait Market Capitalization (2) Total Plot Area of URC Developments & Lands +60 Total Number of Projects BBB- Credit Rating (3) 66% KIPCO Ownership
Slide 8: Our Footprint & Business segments
Our Footprint & Business segments Rental operations Hospitality operations Real Estate development Contracting and services Total Leasable area and Property trading 1,100 Keys UBC and UFM 223K SQM 7
Slide 9: Current portfolio - Kuwait
Current portfolio - Kuwait KIPCO Tower Marina World Hessah District City Tower Al-Shaheed Tower Al-Maseel Al Mutahida Kuwait Kuwait Kuwait Kuwait Kuwait Kuwait Kuwait 8
Slide 10: Current portfolio - Regional
Current portfolio - Regional Abdali Mall Gardens Mall & Hotel Waldorf Astoria Hotel Hilton Heliopolis Hotel Raouche View Tower Assoufid Golf Course Jordan Oman Egypt Egypt Lebanon Morocco 9
Slide 11: Key Developments
Key Developments United Real Estate Co ( URC eee
Slide 12: Sharq Waterfront
Sharq Waterfront Originally established in 1998 as a cornerstone of Kuwait’s urban revival, Souq Sharq continues to evolve as a premier waterfront destination. Spanning approximately 74,685 sqm, the development blends heritage with modern lifestyle offerings in a vibrant, pedestrian-friendly environ
Slide 13: Plot 42 - Luxury Residential Tower
Plot 42 - Luxury Residential Tower Set in a prime location in the coveted Hessah Al Mubarak District, this 40-storey architectural masterpiece redefines luxury living along the Arabian Gulf. With only one private residence per floor, each home offers unmatched privacy, breathtaking views, and timele
Slide 14: NOBU Hospitality Project
NOBU Hospitality Project The first Nobu Residences and Restaurant in Kuwait will open its doors at Hessah Plaza, a vibrant, walkable retail and dining destination within Hessah District Project. The development will feature the signature Nobu restaurant, a ballroom, and 90 exclusive luxury serviced
Slide 15: Hessah District
Hessah District Operations started in retail and F&B segment of Hessah’s business district, Hessah PLAZA and Hessah HUB. Over 90% of construction is completed in Hessah Work, Hessah Suites and Hessah Health (Targeted completion by end 2026). Construction of residential components have been completed
Slide 16: S5 - Sabah Al Ahmad
S5 - Sabah Al Ahmad Jira Gardens spans three plots located within Sabah Al Ahmad City, 65 kilometers south of Kuwait City. Designed as a third space rather than a traditional park, the development bridges community and commerce through a combination of retail, F&B, drive-throughs, and gathering poin
Slide 17: Masirah Island, Oman
Masirah Island, Oman An integrated tourism complex in Masirah province, Oman, the project includes hospitality, residential, and commercial components, envisioning a vibrant community destination that celebrates the island’s natural beauty, culture, and way of life. Rooted in tradition and inspired
Slide 18: Sharm Al Shaikh Resort
Sharm Al Shaikh Resort Introducing an exceptional destination resort in the heart of Sharm El Sheikh, featuring a five-star hotel with over 330 elegantly designed hospitality units, along with branded residential units, retail offerings, and a high-end beach club. Set against the stunning backdrop o
Slide 19: Financial Performance
Financial Performance United Real Estate Co ( URC eee
Slide 20: Financial Performance: Q1 2026 Revenue
Financial Performance: Q1 2026 Revenue KD Mn Revenue by Geography (%) Revenue by Segment (1) (%) (1.8%) 2% 3% 1%1% 5% 23.7 19% 23.3 44% 16% 74% 35% Contracting and services Rental operations Q1 2025 Q1 2026 Kuwait Egypt Jordan Oman Lebanon Europe Hospitality operations Real estate development and tr
Slide 21: Financial Performance: Q1 2026 Gross Profit
Financial Performance: Q1 2026 Gross Profit KD Mn Gross Profit by Segment (1) (%) 2% +11.0% 14% 8.5 69% 7.6 15% Rental operations Contracting and services Q1 2025 Q1 2026 Hospitality operations Real estate development and trading • (1) Before inter-segment elimination 20
Slide 22: Financial Performance: Q1 2026 Operating Profit and Net Profit
Financial Performance: Q1 2026 Operating Profit KD Mn Net Profit (1) (%) 27% 30% 9.6% 9.0% +10.8% (8.4%) 7.0 6.3 2.3 2.1 Q1 2025 Q1 2026 Q1 2025 Q1 2026 • • (1) Attributable to the shareholders of the company Margin % 21
Slide 23: Financial Performance: Q1 2026 Total Assets
Financial Performance: Q1 2026 Total Assets KD Mn Assets by Geography (%) Assets by Segment (1) (%) (0.3%) 7% 14% 688 685 10% 19% 45% 38% 17% 21% 29% Rental operations Real estate development and trading Dec'2025 Mar'2026 Kuwait Egypt Jordan Oman Others Hospitality operations Contracting and service
Slide 24: Financial Performance: Q1 2026 Gross Debt
Financial Performance: Q1 2026 Gross Debt KD Mn Gross Debt by Type (%) Shareholder’s Equity (%) (1.7%) 5% 1.2% 360 353 203 206 95% Dec'2025 Mar'2026 Non-Current Current Dec'2025 Mar'2026 • 23
Slide 25: Financial Performance Ratios: Q1 2026
Financial Performance Ratios: Q1 2026 Key Performance Indicators Q1 2025 Q1 2026 Earnings per share (fils) 1.75 1.53 Book Value per share (fils) 154 150 Total Assets / Total Equity (x) 3.2x 3.2x Net Debt / Total Equity (x) 1.7x 1.6x • 24
Slide 26: ESG Update
ESG Update Og) fasion Sijtial a5 ph United Real Estate Co
Slide 27: Strategic ESG Pillars
In 2025, URC published its first Sustainability Report In accordance with the Global Reporting Initiative (GRI) Standards and aligned with the United Nations Sustainable Development Goals (SDGs), New Kuwait Vision, Bursa Kuwait Index, and GCC Stock Exchange Index. URC remains committed to advancing
Slide 28: Thank You
Sarg! Gy las 25 pb United Real Estate Co THANK YOU
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