Slide 1: Investor Presentation FY 2025 financial results
Investor Presentation FY 2025 financial results February 2026
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared by the recipient with access to any additional information, or cautioned not to place undue reliance on forward looking TECOM Group PJSC (“TECOM”) or (the “Company”). The to correct any inaccuracies in the presentation, that may statement
Slide 3: Representing TECOM Group management
Representing TECOM Group management ABDULLA BELHOUL DR CHRISTOPH BERENTZEN CEO CFO TECOM Group PJSC 3
Slide 4: Today's Presentation
Contents Today’s Presentation Operational and Business 00 Key highlights 5 financial performance segments 01 Macroeconomic and real estate market highlights 6 highlights performance 02 FY 2025 operational and financial performance highlights 10 03 New investment update 20 04 Business segments perfor
Slide 5: Key highlights 2025
Key highlights 2025 2025 Highlights 4th +105% +78% Consecutive Year of Record Growth Growth in Recurring Net Profit Increase in the fair value of our since 2022 investment portfolio 45% 64% 57% Revenue Growth Growth in FFO Fair Value increase since 2022 since 2022 on Like-for-Like basis AED 5.5 Bill
Slide 6: Macroeconomic and real estate market highlights
SECTION 1 Macroeconomic and real estate market highlights TECOM Group PJSC Investor Presentation FY 2025 6
Slide 7: UAE Economy: Driven by Robust Non-Oil Expansion
Macroeconomic and real estate market highlights UAE Economy : Driven by Robust Non-Oil Expansion Non-Oil Foreign Trade UAE GDP Growth CEPA UAE Industrial Sector +AED 3.8 trillion +4.8% FY 2025 +28 Comprehensive Economic +AED 210 billion Partnership Agreements as of 2025 For first time in history (+2
Slide 8: Commercial Sector: Demand for space by influx of businesses supports growth
Macroeconomic and real estate market highlights Commercial Sector: Demand for space by influx of businesses supports growth Strong Rental Growth Low Vacancy Rates Sales Activity Surge Limited Supply +32.4% YoY 7.7% citywide vacancy +AED 11 billion +13% Growth increase in Dubai’s prime office 0.3% pr
Slide 9: Industrial Sector: Supply Shortage fuels leasing growth
Macroeconomic and real estate market highlights Industrial Sector: Supply Shortage fuels leasing growth Manufacturing Sector Rental Growth continues High Occupancy +15% 18% growth +95% Average Occupancy Contribution to UAE GDP In Dubai industrial rental rates1 Grade A Industrial Assets2 Warehousing
Slide 10: FY 2025 Operational and financial performance highlights
SECTION 2 FY 2025 Operational and financial performance highlights TECOM Group PJSC Investor Presentation FY 2025 10
Slide 11: Financial highlights (FY 2025)
FY 2025: Operational and financial performance highlights Figures in AED 'Million' Financial highlights (FY 2025) Operating performance Consolidated Occupancy Retention Rate Revenue EBITDA EBITDA margin (Excluding Land Leasing) 97% 93% AED 2,858 MN AED 2,230 MN 78% 19% vs. 2024 20% vs. 2024 1 pp vs.
Slide 12: Healthy cash flow generation and increase in free cash flow
FY 2025: Operational and financial performance highlights Figures in AED 'Million' Healthy cash flow generation and increase in free cash flow AED Funds From Operations (FFO)1 Growth CAPEX3 2,005 1,960 1,643 1,447 1,198 279 1,162 54 2022 2023 2024 2025 2022 2023 2024 2025 Recurring Free Cashflow (RF
Slide 13: Growth strategy supported by healthy leverage standing
FY 2025: Operational and financial performance highlights Figures in AED 'Million' Growth strategy supported by healthy leverage standing BALANCE SHEET AED MN Debt facilities DEBT 4,929 CASH 441 EQUITY 7,883 TOTAL ASSETS 17,163 2.65 BN KEY RATIOS VALUE 35% LOAN TO VALUE (LTV)1 13.0% DEBT / EQUITY 0.
Slide 14: Balance sheet
FY 2025: Operational and financial performance highlights Figures in AED 'Million' Balance sheet DESCRIPTION 31-Dec-25 31-Dec-24 YoY CHANGE % PROPERTY, EQUIPMENT AND INTANGIBLE ASSETS 102 108 -5% INVESTMENT PROPERTY 15,167 13,820 10% DERIVATIVE FINANCIAL INSTRUMENTS 62 165 -63% TRADE, UNBILLED AND F
Slide 15: Income statement
FY 2025: Operational and financial performance highlights Figures in AED 'Million' Income statement DESCRIPTION 31-Dec-25 31-Dec-24 YoY CHANGE % REVENUE 2,858 2,402 19% DIRECT COSTS (963) (850) 13% GROSS PROFIT 1,894 1,552 22% OTHER OPERATING INCOME 91 138 -34% 1,985 1,690 17% GENERAL AND ADMINISTRA
Slide 16: Portfolio valuation
FY 2025: Operational and financial performance highlights Portfolio valuation AED 34.5bn1 +AED 5.1bn +AED 15.1bn 18% +23.1 % YoY2 +18.3% YoY LFL3 +78% Growth since IPO 34.5 11% 1.4 COMMERCIAL LEASING Our portfolio 7.7% 28.0 19.2BN (+30.6% YoY) 9.7% 2.6 1,177 Warehouses LAND LEASING 33.12 25.4 9.5BN
Slide 17: EPRA KPIs
FY 2025: Operational and financial performance highlights Figures in AED 'Million' EPRA KPIs KPI 2025 Q3|2025 Q2|2025 Q1|2025 2024 2023 2022 2021 IFRS EARNINGS (AED Million) 2,086 1,111 737 361 1,228 1,078 726 569 EPRA EARNINGS (AED Million) 1,946 1,460 968 474 1,638 1,502 1,024 898 IFRS NET ASSETS
Slide 18: Analyst coverage report
FY 2025: Operational and financial performance highlights Analyst coverage report According to analysts, TECOM price average target is AED 3.96 with a max estimate of AED 4.80 and a min estimate of AED 3.40 * Rating Buy Equal-weight Buy Over-weight Buy Buy Buy Buy Buy Buy Analyst HARSH NIDA CHARLES
Slide 19: Dividend policy update
FY 2025: Operational and financial performance highlights Figures in AED 'Million' Dividend policy update FY 2025 FY 2026E • Total AED 2.4 billion dividend paid as of date. FY 2023 FY 2024 • Last dividend payment of AED 400 million was paid in August 2025 for H1 2025. • The Board of Directors propos
Slide 20: Development and investment update
SECTION 3 Development and investment update TECOM Group PJSC Investor Presentation FY 2025 20
Slide 21: New Investments
Development and investment update New Investments Development of Acquisition of Acquisition of Innovation Hub university 33 million sq.ft of AED industrial land Phase 4 263K sq.ft campus +300k sq.ft 2.5 BILLION Total investments in 2025 AED 1.6 BILLION Jabel Ali Port Land acquisition AED 615 MILLION
Slide 22: Business segments performance
SECTION 4 Business segments performance TECOM Group PJSC Investor Presentation FY 2025 22
Slide 23: Commercial leasing segment
Business segments performance Figures in AED 'Million' Commercial leasing segment FY FY % CHANGE DESCRIPTION 2025 2024 YoY Solid performance, revenue higher by AED 225M, up +18% YoY driven by: REVENUE 1,443 1,218 18% • New leases from recent acquisitions and developments, EBITDA 1,051 826 27% • Heal
Slide 24: Industrial leasing segment
Business segments performance Figures in AED 'Million' Industrial leasing segment FY FY % CHANGE DESCRIPTION 2025 2024 YoY Growth momentum continues, AED 81M increase in revenue (+23% YoY) due to: REVENUE 438 357 23% • Improved occupancy EBITDA 312 241 30% • Warehouse expansion EBIDTA MARGIN 71% 67%
Slide 25: Land leasing segment
Business segments performance Figures in AED 'Million' Land leasing segment FY FY % CHANGE 2025 2024 YoY Revenue growth by AED 73M, 14% YoY supported by: REVENUE 605 532 14% • Fully leased inventory acquired last year, EBITDA 578 558 4% • New leases at higher rates EBIDTA MARGIN 95% 105% -9 pp Gross
Slide 26: Services and others segment
Business segments performance Figures in AED 'Million' Services and others segment FY FY % CHANGE 2025 2024 YoY Improved business conditions led to higher revenue by AED 76M, +26% YoY, driven by: REVENUE 372 295 26% • Nota ble incre a s e in vis a tra ns a ctions EBITDA 288 229 26% • Enha nce d pa r
Slide 27: Sustainability and ESG
SECTION 5 Sustainability and ESG TECOM Group PJSC Investor Presentation FY 2025 27
Slide 28: Environment and sustainability goals
Sustainability and ESG Environment and sustainability goals Strategic Objectives National/international Optimise core Develop differentiated Build new sources mandates business value proposition of growth UAE Centennial 2071 Our core pillars 2030 Dubai Integrated Energy Strategy Governance and Econo
Slide 29: ESG highlights and achievements of FY 2025
Sustainability and ESG ESG highlights and achievements of FY 2025 ‘Gold’ Impact Seal ‘Silver’ & ‘Most Improved’ Awards received by the European Public Real Recognition given by MAJRA UAE Estate Association (EPRA) for Sustainability for excellence in ESG and CSR. Reporting. TECOM Group PJSC Investor
Slide 30: ESG highlights and achievements of FY 2025
Sustainability and ESG ESG highlights and achievements of FY 2025 59 170 ESG Governance ESG Policy NEW Outlining ESG objectives and commitments across material LICENSES topics to guide sustainability efforts. LEED Certified Buildings ISSUED ESG Governance Structure 57% Integrating accountability at
Slide 31: Achievements and outlook
SECTION 6 Achievements and outlook TECOM Group PJSC Investor Presentation FY 2025 31
Slide 32: Priorities for 2026 and beyond
Achievements and outlook Priorities for 2026 and beyond Optimise core business Develop differentiated Build new and performance value proposition sources of growth Identify customer priorities and retention initiatives Enhance and integrate customer journeys throughout Identify novel, differentiated
Slide 33: Focus Area 2026
Achievements and outlook Focus Area 2026 GROWTH INITIATIVES SUSTAINABILITY COMMITMENT Continue to proactively pursue fresh Aim to boost our operational investment opportunities, efficiency through investments in strategically expanding through clean energy, achieving LEED thoughtful acquisitions and
Slide 34: Thank you.
Thank you. For further enquiries, please contact: Ghaith Zghaibi Head of Investor Relations Tel:+971 (04) 568 2571 Email: ir@tecomgroup.ae TECOM Group PJSC