National Agricultural Development Co. · TADAWUL:6010
National Agricultural Development — Q3 2025 Earnings Presentation
20 slides from National Agricultural Development's earnings presentation, 2025
Slide 1: National Agricultural Development Company
@_rclyjl doi G@uiiboJl 24) J! National Agricultural Development Company
Slide 2: New Update Q3
New Update Q3
Slide 3: New Products Update
New Products Update a
Slide 4: Publication of its Sustainability and ESG Report
NADEC Publication of its Sustainability and ESG Report The National Agricultural Development Company (NADEC) announces the release of its 2024 Sustainability and ESG Report. The report reflects NADEC’s continued progress in integrating sustainability standards into its strategy and operations, reaff
Slide 5: Performance Q3 2025
Financial Performance Q3 2025
Slide 6: Q3 2025 Revenue by Segments and Profitability
Financial Highlights (in sar Mn) Hi vss © Agriculture I Protein fe A Revenue by Segments Gross Profit 40.4% Gross Profit Margin Q3'25 291 Q3:'25 34.5% A +6.6% 93 '24 290 a3 '24 36.7% x A v Operating Profit +6.1% Operating Profit Margin Q3 2024 Q3 2025 Q3'25 105.9 Q3 '25 12.6% a3 '24 99.8 93 '24 12.6
Slide 7: Revenue by Channel
Financial Highlights — By Channel (in sar Mn) Revenue by Channel Channel Growth vs. LY rowth% Modern Trade ey * -2% A Traditional Trade 252%, 8% W = Modern Trade z= = Traditional Trade Foods Service Seey: 4% W Q3 2025 = Foods Service ae Agriculture 322 A 304% A eUikl Protein 3 - 66% A = Others Other
Slide 8: Performance YTD Sep 2025
Financial Performance YTD Sep 2025
Slide 9: YTD Sep 2025 Revenue by Segments and Profitability
Financial Highlights (in sar Mn) Hi vss © Agriculture I Protein ie < Revenue by Segments Gross Profit 42.1% Gross Profit Margin YTD Sep '25 931 YTD Sep '25 34.7% A+10.1% YTD Sep '24 912 YTD Sep '24 37.4% 49, 2439Mn A Vv Operating Profit 46.5% Operating Profit Margin YTD Sep '25 3147 YTD Sep '25 11.7
Slide 10: Revenue by Channel
Financial Highlights — By Channel (in sar Mn) Revenue by Channel Channel Growth vs. LY rowth% Modern Trade 22 W— 3% W Traditional Trade 52 — 6% W = Modern Trade = Traditional Trade Foods Service BIS § 1% A YTD Sep 2025 = Foods Service ae Agriculture B7 A 280% A eUikl Protein 87 A 67% A = Others Othe
Slide 11: Net Income Bridge
Net Income Bridge (in sar Mn) a2 25 = 2 as Pl Ll e a na 7 : 4 | 20 25 Net Income D&B - D&B - D&B - Protein Agri Funding and others Arabian Mills Net Income YTD Sep ‘24 Vol, mix impact Price Impact cost impact -GM -GM YTD Sep '25 a
Slide 12: Balance Sheet & Ratios — September 2025
Balance Sheet & Ratios — 30 September 2025 (in sar Mn) Dec ‘24 Total Assets: SAR 5,704 YTD Sep ’25 Total Assets: SAR 6,243 Assets Equity & Assets Equity & Liabilities Liabilities Other-Current Assets HM Cash & Cash Equivalents I Non-Current Assets inventories HM Receivables & Prepayments WH equity H
Slide 13: Working Capital
Working Capital (in sar Mn) mmm Net Working Capital SAR Mn ——=% of Revenue ——CAPEX as % of revenue 19% Days of Inventory outstanding (DIO) Days of Sales outstanding (DSO) Days of Payable outstanding (DPO) Working Capital (Days) CAPEX (SAR Mn) 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 20
Slide 14: Cashflow Statement (in SAR Mn)
Cashflow Statement (in SAR Mn) A 13 456 6 57 1,665 Pag —_— — ser ee a | 1,678 -36 -82 Bank Balance Net cash Purchase of assets Interest from Investments Dividend (Repayment) Cash used Bank Balance Dec '24* from oper. incl. biological, net Term Deposit received of loans/ in other fin. Sep '25 of proc
Slide 15: Debt and EBITDA/EBIT Margins Trend
Debt and EBITDA/ EBIT Margins Trend (in sar Mn) 2018 2019 2020 2021 2022 2023 2024 YTD Sep 2018 2019 2020 2021 2022 2023 2024 =TTM 2025 ‘25, mm™mm™ Revenue ——EBITDA Margin ——EBIT Margin mmmDebt ——Debt/ Equity ——Debt/ EBITDA * The DebY/EBITDA ratio is calculated using half-year EBITDA, and therefore
Slide 16: Statements
Financial Statements
Slide 17: Income Statement YTD Sep 2025
Financial Highlights (in sar Mn) Income Stateme! YTD Sep ’25 YTD Sep ’24 Revenue from Operations 2,686 2,439 Cost of Good Sold (1,755) (1,527) Gross Profit 931 912 Selling General & Admin Exp. (609) (588) Other Operating Expenses, net (7) (28) Operating Profit 315 295 Finance Income/Cost, net 47 40
Slide 18: Balance Sheet Sep 30, 2025
Financial Highlights (in sar Mn) Balance Sheet Sep 30, 2025 Dec, 31 20: Non-Current Assets 3,320 2,829 Current Assets 2,923 2,875 Total Assets 6,243 5,704 Non-Current Liabilities 492 162 Current Liabilities 1,188 1,245 Total Liabilities 1,680 1,407 Shareholders’ Equity 4,563 4,297 Total Shareholders
Slide 19: Cash Flow Statement Sep 30, 2025
Financial Highlights Cash Flow Statement Sep 30, 2025 Sep 30, 2024 Net Profit 329 327 Adjustment for Non-Cash and Non-operating Items 335 268 Cash Operating Profit 664 595 Changes in working capital -129 4 Zakat Paid -61 11 Employee Benefits Paid -18 -17 Cash Flow from Operating Activities 456 563 A
Slide 20: Thank You!
National Agricultural Development Company (NADEC) — Q3 2025 Earnings Presentation on 6ix