Amanat Holdings Pjsc · DFM:AMANAT
Amanat Holdings Pjsc — FY2025 Earnings Presentation
25 slides from Amanat Holdings Pjsc's earnings presentation, February 2026
Slide 1: Earnings Presentation FY 2025 Financial Results
Invest . Grow . Impact Healthcare & Education growing and defensive sectors Earnings Presentation FY 2025 Financial Results February 2026 Amanat FY 2025 Financial Results 1
Slide 2: Disclaimer
Disclaimer Important Information Upon receipt of this Earnings Presentation, the accompanying Press Release to Invest, or any oral presentation relating thereto (collectively, the “Information”), and confirmation of subscription to the Offer Shares, you irrevocably agree to be bound by the following
Slide 3: Table of Contents
Table of Contents 01 02 03 Executive Summary pg. 4 Cambridge Health Group pg. 8 Education Update pg. 12 Update 04 05 06 Financial Highlights pg. 16 Recap pg. 20 Appendix pg. 22 Amanat FY 2025 Financial Results 3
Slide 4: Executive Summary
Executive 1 Summary Amanat FY 2025 Financial Results 4
Slide 5: Key Highlights | Strong execution on growth strategy
Key Highlights | Strong execution on growth strategy Continued strong progress across Healthcare and Education, reflecting ongoing delivery on Amanat’s long-term strategy and monetization objectives Strong financial Total bed capacity Strong enrollments Student and Record dividend of performance in
Slide 6: Company Overview | Market-leading Healthcare and Education businesses
Company Overview | Market-leading Healthcare and Education businesses Established market-leading businesses across Healthcare and Education in the UAE and KSA with monetization opportunities progressing well Cambridge 86%(1) Almasar Alshamil 70%(2) Health Group Education Provider of Special Provider
Slide 7: Financial Performance Snapshot | Revenue from continuing operations
Financial Performance Snapshot | Revenue from continuing operations increased 17% YoY, with EBITDA from continuing operations up 28% YoY GROUP REVENUE FROM GROUP PROFIT GROUP EBITDA FROM GROUP PROFIT FROM CONTINUING OPERATIONS BEFORE TAX FROM CONTINUING OPERATIONS CONTINUING OPERATIONS CONTINUING OP
Slide 8: Cambridge Health Group Update
Cambridge 2 Health Group Update Amanat FY 2025 Financial Results 8
Slide 9: Strategy | Development pipeline to deliver over 1,000 beds in the medium-term
Strategy | Development pipeline to deliver over 1,000 beds in the medium-term to help address growing care demand Launched Cambridge Health Group brand in October, supporting the transition from expansion to delivery and improved profitability across the portfolio PPP / Management UAE KSA Acquisitio
Slide 10: Summary | Capacity and utilisation increases driving earnings momentum
Summary | Capacity and utilisation increases driving earnings momentum Date of Acquisition Operating Highlights AUM l AED 1.5 BN CMRC Feb 2021 merged with Sukoon in Apr 2023; In October 2025, rebranded as Cambridge Health Group (“CHG”). REVENUE EBITDA (3) rebranded to Cambridge Margin% Inc. Khobar
Slide 11: Progression | Targeted investment delivering earnings momentum
Progression | Targeted investment delivering earnings momentum REVENUE (1) EBITDA (1) AED MN Inc. Margin% Inc. Khobar AED MN Ex. Khobar Khobar 20% 60% 27% 27% 114 29% 106 35 95 24% 24% 22% 21% 31 91 89 20% 30 23 21 23 102 108 22 18 90 92 91 90 86 92 29 31 22 26 22 18 20 20 Q1'24 Q2'24 Q3'24 Q4'24 Q1
Slide 12: Education Update
Education 3 Update Amanat FY 2025 Financial Results 12
Slide 13: Strategy | The region's first integrated education business
Strategy | The region’s first integrated education business Education Executing on Education growth and monetization strategy across higher and special education and real estate Ramp-up Network expansion Enrollment growth Monetisation existing facilities 4 daycare centres added 22 daycare centres an
Slide 14: Summary | Strong growth in number of students and beneficiaries
Summary | Strong growth in number of students and beneficiaries Strategic Update Key Highlights 3 Universities and 14 SEN Schools, 39 Successfully completed IPO of Almasar Alshamil Education on the Saudi Exchange raising approximately SAR 599 million with Revenue increased 22% YoY to AED 528.0 m
Slide 15: Progression | Enrollment expansion underpinning strong performance
Progression | Enrollment expansion underpinning strong performance REVENUE EBITDA (1) Margin% inc. Almasar Head Office AED MN Ex. Almasar costs AED MN Head office 6% 20% 66% 66% 50%50% 196 108 107 113 49% 58% 58% 164 152 54% 61% 49% 137% 98 137% 123 133 54% 61% 78 7883 109 74 72 66 66 65 108 98 37 4
Slide 16: Financial Highlights
Financial 4 Highlights Amanat FY 2025 Financial Results 16
Slide 17: Statutory Profit and Loss
Statutory Profit and Loss AED MN FY 2024 FY 2025 % Continuing Operations Revenue 796.1 931.7 17% YoY revenue from continuing operations grew Direct Costs (441.9) (529.9) (20)% by 17% to AED 931.7 million in FY25 driven by Gross Profit 354.2 401.8 13% strong performance in Education, where revenue
Slide 18: Statutory Consolidated Balance Sheet | Selected highlights
Statutory Consolidated Balance Sheet | Selected highlights AED MN FY 2024 FY 2025 % Property and Equipment 625.7 663.0 6% Total assets increased 17% to AED 4,578.1 million Right-of-Use-Assets 172.5 210.4 22% Property and Equipment (PPE) rose 6%, mainly due to additions in leasehold improvements
Slide 19: Cashflow and Net Debt | AED 1.45 billion of cash with additional leverage potential
Cashflow and Net Debt | AED 1.45 billion of cash with additional leverage potential Summary Movement in Cash AED MN 50 8 9 1,450 Movement in cash and bank balances was driven by: AED 507.9 million net proceeds from the IPO; and AED 453 million inflow from the 453 successful NLCS real estate divest
Slide 20: Recap
Recap 5 Amanat FY 2025 Financial Results 20
Slide 21: Recap | Executing on growth and monetization strategy
Recap | Executing on growth and monetization strategy Capturing Opportunities in the GCC Healthcare and Education Sectors Record enrollments in Strong cash position of Strong financial Healthcare strategy Record dividend of Education, with total AED 1.45 billion, performance in FY25 delivering resul
Slide 22: Appendix
Appendix 6 Amanat FY 2025 Financial Results 22
Slide 23: Financial Performance | Detailed Profit and Loss
Financial Performance | Detailed Profit and Loss AED MN FY 2024 FY 2025 Change Middlesex University Dubai 59.8 72.3 21% NEMA Holding 33.4 52.6 57% Human Development Company 40 .2 40 .0 (1)% North London Collegiate School - Real Estate 29.2 18.4 (37)% North London Collegiate School - Real Estate (Gai
Slide 24: Financial Performance | Detailed Profit and Loss by Quarter
Financial Performance | Detailed Profit and Loss by Quarter AED MN 1Q - 24 2Q – 24 3Q - 24 4Q - 24 FY 24 1Q - 25 2Q - 25 3Q - 25 4Q-25 FY 25 Middlesex University Dubai 22.7 26.9 (15.2) 25.5 59.8 27.4 34.5 (15.5) 25.8 72.3 NEMA Holding 3.9 12.3 0 .1 17.2 33.4 6.1 18.8 2.9 24.8 52.6 Human Development
Slide 25: Stay Connected
Abdulrahman Al Suwaidi Investor James Relations Anderson Director | Teneo investor.relations@amanat.com investor.relations@amanat.com Stay Connected amanat.com Amanat FY 2025 Financial Results 25