Kingdom Holding Co. · TADAWUL:4280
Kingdom — Q1 2026 Earnings Presentation
20 slides from Kingdom's earnings presentation, Apr 28, 2026
Slide 1: Kingdom Holding Co. 1Q 2026 Earnings Presentation
High res photo Kingdom Holding Co. 1Q 2026 Earnings Presentation 28 April 2026
Slide 2: Disclaimer
Disclaimer The Kingdom Holding Company (KHC) prepared this presentation on a proprietary basis as general background information about the activities of KHC. The information contained herein is given in summary form and for discussion purposes only. Some of the information that is relied upon by KHC
Slide 3: Contents
Contents 1. Kingdom Holding Company Overview 2. 1Q 2026 Key Developments 3. 1Q 2026 Financial Performance 4. Investment Thesis P. 3
Slide 4: Kingdom Holding Company Overview
Kingdom Holding Company Overview Earnings Presentation P. 4
Slide 5: Kingdom Holding Company is an iconic global investment brand
KHC overview NAV update Financial performance Investment thesis Kingdom Holding Company is an iconic global investment brand Kingdom Holding Company (KHC) is 1 a KSA based holding company Gross Gross Asset Asset Value Value Composition, Fair Value Basis (%) Composition (%) Net Income 4 1Q 2026 creat
Slide 6: KHC's investment portfolio is well-balanced and diversified
KHC overview NAV update Financial performance Investment thesis KHC’s investment portfolio is well-balanced and diversified Equity 55.4% Hospitality 23.9% Real Estate 3.9% Land 16.8% ¥ 49.8bn ¥ 21.5bn ¥ 3.5bn ¥ 15.1bn Portfolio $13.3bn Portfolio $5.7bn portfolio $0.9bn portfolio $4.0bn Four Four Sea
Slide 7: Equity portfolio remains well-balanced and positioned for growth
KHC overview NAV update Financial performance Investment thesis Equity portfolio remains well-balanced and positioned for growth Equity portfolio by industry Equity portfolio by country 1% 17% 4% 3% Space & Tech US 34% 5% Banking Saudi Arabia Airline 6% China 61% Insurance & Asset Management UK 25%
Slide 8: 1Q 2026 Key Developments
1Q 2026 Key Developments Earnings Presentation P. 8
Slide 9: Al Hilal Football Club
KHC overview NAV update Financial performance Investment thesis Al Hilal Football Club • Acquisition of 70% stake from PIF for ¥ 840m • Implied equity value: ¥ 1.2bn | EV: ~ ¥ 1.4bn • Funded via internal resources, subject to approvals 1957 90+ Titles Founding Year, 21 Saudi League & Leading Club in
Slide 10: Riyadh Land Development – Partnership with Sumou
KHC overview NAV update Financial performance Investment thesis Riyadh Land Development – Partnership with Sumou Transaction overview • Strategic agreement with Sumou Real Estate Company as exclusive development manager • Covers ~3.1 million sqm land parcel in Riyadh • Scope: infrastructure developm
Slide 11: Deep-dive: Jeddah Economic Company Tower
KHC overview NAV update Financial performance Investment thesis Deep-dive: Jeddah Economic Company Tower April 2026 update: 1,000+m 3,280+ ft Façade cladding fabrication underway; Height installed across 36+ floors MEP first-fix installations in progress The ‘Centrepiece’ of Jeddah across office lev
Slide 12: 1Q 2026 Financial Performance
1Q 2026 Financial Performance Earnings Presentation P. 12
Slide 13: KHC reported net profit of SAR 269 million for 1Q 2026
KHC overview NAV update Financial performance Investment thesis KHC reported net profit of ¥ 269 million for 1Q 2026 Net Profit Movement YoY (¥ Mn) -38% 431.6 1. lower dividend income due to a high base in 1Q 2025, which benefited from favorable timing and the realization of certain historical entit
Slide 14: Total equity remained broadly stable
KHC overview NAV update Financial performance Investment thesis Total equity remained broadly stable Book Value Per Share (¥) ¥ Mn 1Q 2026 4Q 2025 YTD Change Total current assets 4,192 2,841 48% 15.8 15.3 Cash & cash equivalents 2,659 1,525 74% 12.7 11.3 11.8 Total non-current assets 69,128 72,093 -
Slide 15: Leverage improved to multi-year lows
KHC overview NAV update Financial performance Investment thesis Leverage improved to multi-year lows Net Debt (¥ Bn) Debt to Equity -12% 0.29x 0.27x 0.25x 12.0 11.9 11.7 11.8 0.20x 10.5 0.18x -1% -1% +1% -11% 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 Debt by currency (%) • KHC cont
Slide 16: FVOCI reserve decreased slightly in 1Q 2026
KHC overview NAV update Financial performance Investment thesis FVOCI reserve decreased slightly in 1Q 2026, primarily reflecting negative revaluation of public equities amid broad-based market volatility FVOCI Reserve (¥ Mn) • 1Q 2026 share price correction 15,581 13,788 driven by broader market se
Slide 17: Balancing growth and returns while preserving strong liquidity
KHC overview NAV update Financial performance Investment thesis Balancing growth and returns while preserving strong liquidity DPS (¥) Cash & Cash Equivalents (¥ Mn) +56% 0.28 0.28 0.28 0.28 2,659 2,459 2,167 1,709 1,525 +27% +13% -38% +74% 2022 2023 2024 2025 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 Dividend
Slide 18: Investment Thesis
Investment Thesis Earnings Presentation P. 18
Slide 19: Unlocking exclusive access with proven expertise and valuation upside
KHC overview NAV update Financial performance Investment thesis Kingdom Holding Company: Unlocking exclusive access with proven expertise and valuation upside 1. Current Unlisted assets provide opportunities for Valuation unlocking value 2. Portfolio A portfolio shift is underway, capitalizing on Sh
Slide 20: Thank you
Thank you