Rak Properties · ADX:RAKPROP
Rak Properties — H1 2026 Earnings Presentation
57 slides from Rak Properties's earnings presentation, Aug 6, 2026
Slide 1: Investor Relations Update - H1 2026
INVESTOR RELATIONS UPDATE - H1 2026 Financial results H1 2026. Published 6th August 2026
Slide 2: Disclaimer
Disclaimer This presentation is intended for information purposes only and does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase securities of any kind and neither this document nor anything contained herein sh
Slide 3: Contents
Contents RAK Properties overview 4 Financial highlights 14 Operational highlights 27 ESG 32 Market outlook 43 Appendix: project highlights 48
Slide 4: RAK Properties Overview
RAK PROPERTIES OVERVIEW | | PROPERTIES
Slide 5: Executive overview
Executive overview The first half of this year presented regional challenges, but despite economic headwinds, we have continued to award contracts on development projects, hand over units to our valued customers, and reach new buyer audiences in this domestically and overseas. The first six months h
Slide 6: RAK Properties snapshot
RAK Properties snapshot 50,000,000 sqft TASHA, ANTONIO, HUNTER & BARREL LANDBANK BEING READIED FOR OPENING c. 4,100 HOMES SUCCESSFULLY DELIVERED 1,000,000 sqft GLA BAR DU PORT BEACH & LADUREE (9,600 sqft UNDER FITOUT) NOW OPEN 525 KEY HOSPITALITY PORTFOLIO ICONIC PARTNER BRANDS – (314 KEYS IN PROGRE
Slide 7: RAK Properties strategy for growth
RAK Properties strategy for growth MASTERPLAN-LED DEPLOY RAHA ISLAND LAND INCREASE RECURRING DEVELOPMENT WITH TIMELY TO FUEL FUTURE DEVELOPMENT REVENUES THROUGH RETAIL DELIVERY OF MIXED-USE PROJECTS AND CONTINUE AND HOSPITALITY OFFERINGS COMMUNITIES TO ACQUIRE NEW LANDBANK FORM STRATEGIC ENSURE PRUD
Slide 8: RAK Properties brand values
RAK Properties brand values RESPONSIBLE COMMUNITY VALUE DRIVEN SUSTAINABILITY EXCELLENCE & ACCOUNTABLE CENTRIC We are guided by integrity, We aim to foster environments in Our ethos is anchored in adding Sustainability is the cornerstone of We are relentlessly committed to respect, and transparency
Slide 9: RAK Properties diversified business model
RAK Properties diversified business model As a leading master developer, our core strategy revolves around transforming prime land into luxurious properties that offer an BUSINESS unparalleled lifestyle. We also generate revenue from leasing and SEGMENTS sales of these high-end homes, with income ex
Slide 10: RAK Properties timeline
RAK Properties timeline 2005 – 2012 2017-2023 2024 2025 2026 • RAK Properties was • Raha Island development • Anantara Mina RAK Resort • Mina Unveil. SKAI, Mirasol I, • Lunara at The Strand established begins in Mina opened Award winning Mirasol II, Nura, ENTA and launched Q1 2026 – the • The IPO wa
Slide 11: RAK Properties awards
RAK Properties awards 2023/2024 2024/2025 2025/2026 2026 CEO ANANTARA FINANCE TIME MIDDLE RESORTS WORLD RAK Properties ranked no. 6 in TIME’s Arabia’s Growth Leaders of EAST & SPA Sameh Muhtadi named as a "growth titan" in 2026, on account of this regional list of the 2025’s record sales AWARDS Lead
Slide 12: 2026 announcement highlights
2026 announcement highlights SKAI MAIN HANDOVERS LAUNCH OF THE BAR DU PORT OPENS LADUREE OPENS CONTRACT STRAND Premium apartments on Raha 264 homes handed over RAK Properties launched the Bar Du Port Beach, a major Where French elegance Island. during H1 2026 as the Strand, its 186,000 sqm land life
Slide 13: 2026 announcement highlights
2026 announcement highlights RAK FRIDAY RAK PROPERTIES H1 CONSTRUCTION JOINS HIGH LEVEL UPDATE CHINA DELEGATION RAK Properties laiunches RAK RAK Properties joins a high RAK Properties continues to FRIDAY, a one day event level RAK Government highlight ongoing focused on selling direct to its delegat
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS | | PROPERTIES
Slide 15: H1 2026 performance overview
H1 2026 performance overview H1 2026 coincides with a key transitional phase for RAK Properties in its ongoing delivery cycle with key projects coming to their natural end of revenue collection, and REVENUE 533 a new generation of products transitioning into construction. MN AED RAK Properties has c
Slide 16: Financials at a glance
Financials at a glance EBITDA (AED m) REVENUE (AED m) SALES VALUE (AED m) SHARE PRICE (AED) H1 2025 vs H1 2026 H1 2025 vs H1 2026 H1 2025 vs H1 2026 H1 2025 vs H1 2026 -42% -31% -77% -25% 775 1,411 1.44 239 1.08 533 139 326 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 AUGUST 2026
Slide 17: RAK Properties' revenue profile
RAK Properties’ revenue profile 2026 is a year in which a number of projects will complete their construction cycles, with 1,400 homes targeted for delivery before the end of the year. This coincides with a number of new projects – those launched as part of the cycle that commenced with Edge in 2024
Slide 18: Contribution of revenue streams beyond residential
Contribution of revenue streams beyond residential 2000 Revenue By segment in AED Mns 1600 Beyond residential sales, where the bulk of RAK 1200 Properties’ revenues are generated, the hospitality 1538 portfolio has demonstrated its importance, contributing 17% of revenues for the first half of 2026.
Slide 19: Asset distribution
Asset distribution 30 June 2026 COMPLETED CONSTRUCTION PLANNING GDV (AED Mn) 4,131 4,110 2,501 No. Of Units 4,072 3,228 1,845 Around 0.7 Million sqft GLA C. AED 8,858 Mn in Total Assets as of 30 June 2026 as of 30 June 2026 67% 17% 55% 28% 26% 7% Commercial Retail Residential Property Sales Hotel Op
Slide 20: Balance sheet overview
Balance sheet overview DEBT MATURITY PROFILE* in AED Mns In AED Mns 2025 H1 2026 250 237 Debt 1,011 1,056 200 Cash 518 580 Net Debt 493 476 146 150 128 Total Equity 5,942 6,018 Total Assets 8,706 8,858 100 83 60 2025 H1 2026 50 Net Debt/Equity 8.3% 7.9% 0 Debt/Total 2026 2027 2028 2029 2030 & 11.6%
Slide 21: Total liabilities
Total liabilities 2.7% Liabilities in AED millions. RAK Properties is adequately funded through sufficient contractual collections and credit facilities. 2900 2850 2839 2800 2750 2764 2700 2650 2025 H1 2026 AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 21
Slide 22: Income statement
Income statement FY FY FY FY FY H1 H1 2021 2022 2023 2024 2025 2025 2026 Revenue 516 408 1005 1406 1,837 775 533 (AED M) 2026 gross profit Gross Profit 195 141 365 543 708 314 214 (AED M) decreased by EBITDA 221 94 264 376 535 240 139 32% Y-o-Y (AED M) Net Profit Before Tax 202 31 202 308 444 176 84
Slide 23: Net profit before tax decreased by 52% in H1 2026
Net profit before tax decreased by 52% in H1 2026 GROSS PROFIT in AED MNs NET PROFIT BEFORE TAX in AED MNs 800 500 444 708 400 308 700 300 202 202 200 600 543 84 100 31 500 0 2021 2022 2023 2024 2025 H1 2026 400 365 EBITDA in AED MNs 300 195 214 200 600 535 141 500 376 100 400 300 221 264 139 0 200
Slide 24: Share price information
Share price information 31 Dec’21 31 Dec’22 31 Dec’23 31 Dec’24 31 Dec’25 30 Jun’25 30 Jun’26 Market Cap (AED Mns) 1,540 1,360 2,280 3,420 4,050 4,320 3,240 Share Price 0.77 0.68 1.14 1.14 1.35 1.44 1.08 (AED/Share) EPS(AED/Share) 0.10 0.015 0.101 0.111 0.135 0.054 0.026 5,500 1.35 4,500 1.14 1.14 1
Slide 25: Financials by business segment
Financials by business segment Contribution from recurring revenue generating businesses H1 2026 Revenue: 21% Gross profit: 30% Revenue Share Gross Profit Share 14% 17% 22% 25% 5% 4% H1 H1 H1 H1 2025 2026 2025 5% 2026 5% 73% 70% 81% 79% Property Sales Hospitality Asset Management AUGUST 2026 RAK PRO
Slide 26: Robust hospitality performance
Robust hospitality performance INTERCONTINENTAL ANANTARA HOSPITALITY H1 2025 H1 2026 H1 2025 H1 2026 Number of Keys 351 351 174 174 Average Daily Rate (ADR, AED) 857 913 1,464 1,508 Occupancy Rate (%) 62% 49% 68% 52% Revenue per available room (RevPAR) (AED) 531 451 1,003 787 Room Revenue (AED Mn) 3
Slide 27: Operational Highlights
OPERATIONAL HIGHLIGHTS | | PROPERTIES
Slide 28: Projects under development as at 30th June 2026
Projects under development as at 30 th June 2026 PROJECT LOCATION LAUNCH YEAR UNITS LAUNCHED UNITS SOLD NET SALES (AED M) REVENUE BACKLOG % SOLD % COMPLETE Bay Views Mina 2023 344 343 419 21 100% 96% Beach House 1 & 2 Mina 2023 13 11 63 1 84% 96% Bay Residence Tower 5 Mina 2025 156 156 222 164 100%
Slide 29: RAK Properties land bank
RAK Properties land bank DEVELOPED UNDER BALANCE LAND DESCRIPTION TOTAL AREA (SQM) AREA DEVELOPMENT TO DEVELOP Area (Sqm) Area (Sqm) GFA (Sqm) Area (Sqm) GFA (Sqm) Area (Sqm) GFA (Sqm) Mina - Land 4,067,991 2,745,233 448,969 583,665 452,751 739,103 890,052 Marjan - Beach District 185,759 - - 185,759
Slide 30: RAK Properties destination landbank
RAK Properties destination landbank MINA Primary Destination Landbank 4,000,000 sqm land area The Strand Land bank acquired in consideration of RAK Government increase in stake to 34% c.186,000 sqm land area AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 30
Slide 31: Investment proposition
Investment proposition TRACK ECONOMIC QUALITY FINANCIAL STRONG NEW LAND PRUDENT RECORD BACKDROP PORTFOLIO PERFORMANCE MANAGEMENT ACQUISITIONS MANAGEMENT Over 20 years of RAK’s long term Covering residential, H1 2026 results Highly experienced New land Prudent creating growth prospects as commercial,
Slide 32: ESG
‘ a 4s 4 wh oe | 7) \ | | PROPERTIES
Slide 33: ESG – a pillar of our vision and mission
ESG – a pillar of our vision and mission ENVIRONMENTAL COMMITMENT SOCIAL RESPONSIBILITY GOVERNANCE EXCELLENCE We are dedicated to integrating We focus on improving the well- Our robust governance sustainable practices across all being of all stakeholders, framework ensures development projects and i
Slide 34: Sustainability Governance
Sustainability Governance ESG Leadership Team ESG Committee Team • RAK Properties PJSC has established an ESG Committee at • Chief Executive Officer the leadership level to oversee the company’s Environmental, • Chief Operating Officer Social, and Governance agenda and performance • Chief Marketing
Slide 35: ESG leadership
ESG leadership Environmental, Social, and Governance (ESG) principles are at the heart of RAK Properties' vision and mission. Our leadership is committed to driving environmental responsibility and sustainable growth across all our developments. This commitment is reflected in our 2025 S&P Global Co
Slide 36: Biodiversity conservation
Biodiversity conservation MANGROVE AND ARTIFICIAL REEF BALLS WETLAND CONSERVATION Artificial reef balls were deployed along the Mina Large areas of natural seaside to help restore marine ecosystems, create mangroves and habitats for corals and fish, associated wetlands reducing coastal erosion and n
Slide 37: Climate Risk Adaptation
Climate Risk Adaptation PHYSICAL CLIMATE RISK ADAPTATION MEASURES Proactive adaptation strengthens our business continuity, protects communities and supports resilience-focused investors’ expectations. • Mangrove & Ecological Reserve: Waterfront Mina community built around over 2 million m² of prote
Slide 38: Integrated Community Water Treatment
Integrated Community Water Treatment On-site water treatment systems help to lower long-term operating costs, reduce wastewater discharge, and support corporate water stewardship, which aligns well with investor expectations on ESG performance. RAK Properties operates an on-site Sewage Treatment Pla
Slide 39: Community Health and Well-being
Community Health and Well -being HEALTH AND WELL-BEING STRATGIES RAK Properties’ communities are designed as people-first environments that prioritize health, comfort and social connections. • Connection with Nature and Active Living: Fitness centers, yoga zones and outdoor recreation spaces, includ
Slide 40: Discovery centre – a closer look
Discovery centre – a closer look The Mina Discovery Center is a community hub dedicated to environmental education and preservation. Located in Mina, it focuses on teaching residents, especially schoolchildren, the importance of mangrove ecosystems and local wildlife. This initiative goes beyond tra
Slide 41: Advancing our social responsibility
Advancing our social responsibility OUR PEOPLE, THE CORNERSTONE OF OUR SUCCESS. DIVERSITY & INCLUSION HEALTH & SAFETY • RAK Properties cultivates an inclusive work • Commitment to Occupational Health and Safety, environment. evidenced by our ISO 45001:2018 certification. • 355 employees: 18% UAE Nat
Slide 42: Governance principles and best practice
Governance principles and best practice ENSURING ROBUST RISK UPHOLDING ETHICAL STANDARDS KEY BUSINESS POLICIES MANAGEMENT Whistleblowing Policy Oversight by the Auditing Our Ethics and Compliance Anti-Money Laundering & Committee of Ethics and policies guide responsible Combating Compliance & Intern
Slide 43: Market Outlook
MARKET OUTLOOK | | PROPERTIES
Slide 44: RAK continues to grow and attract inward investment
RAK continues to grow and attract inward investment • A well-connected Emirate, Ras Al Khaimah benefits from connectivity to all major destinations across Europe, Asia, and the Middle East through various airports in the UAE. • Ras Al Khaimah boasts a long track record of political and SHARJAH socia
Slide 45: Ras Al Khaimah property market outlook
Ras Al Khaimah property market outlook A normalising market, but a strengthening long term investment case H1 2026 MARKET CONTEXT Independent market data shows RAK moving from early-cycle acceleration to a more investable destination economy: residential growth remains positive but is moderating, wh
Slide 46: Positive macro economic drivers
Positive macro economic drivers Fitch Ratings Upgraded Rak’s Issuer Default Ratings (Idrs) To A+ - amid Expectations Of Stronger Growth And Fiscal Management. In Q1 2026, S&P re-affirmed is A/A-1 stable outlook for the Emirate of Ras Al Khaimah AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 46
Slide 47: Customer demography since inception
Customer demography since inception RAK Properties enjoys a diverse buyer base with customers drawn from 126 countries (2025 - 124 countries). Nationality based on passport AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 47
Slide 48: Customer demography YTD 2026
Customer demography YTD 2026 *sales are for year to date 2026, and accordingly some may sit outside of the H1 2026 period under review AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 48
Slide 49: Appendix: Project Highlights
APPENDIX: PROJECT HIGHLIGHTS
Slide 50: Residences, Retail & Amenities, Hotel & Resorts map
RESIDENCES RETAIL & AMENITIES HOTEL & RESORTS 1 GRANADA I 10 BAY RESIDENCES 19 EDGE 26 BEACH 36 ANANTARA RESORT & SPA 2 GRANADA II 11 BAY VIEWS 20 SKAI 27 RETAIL PLAZA 37 INTERCONTINENTAL RESORT & SPA 3 LAGOON BUILDINGS 12 CAPE HAYAT 21 SOLERA 28 ECO LODGE 38 NIKKI BEACH RESORT & SPA 4 MALIBU VILLAS
Slide 51: AUGUST 2026 RAK PROPERTIES IR DECK H1 2026
AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 51
Slide 52: Hayat Island
Hayat Island PROJECT TYPE UNITS NB Collection Villas 11 Units Quattro Del Mar Apartments 888 Units Cape Hayat Apartments 678 Units Porto Playa Apartments 269 Units Bay Views Apartments 344 Units Bay Residences Apartments 661 Units Gateway II Residences Apartments 146 Units Intercontinental Hotel 351
Slide 53: Raha Island
MARINA & ARMANI BEACH YACHT CLUB BERMUDA RESIDENCES FOUR SEASONS VILLAS RESORT & RESIDENCES GATEWAY I NURA MIRASOL I SOLERA MINA BOULEVARD MIRASOL II MINA HARBOUR EDGE SKAI Raha Island (within Mina, RAK) Residential, AUGUST 2026 Commercial, and Hospitality RAK PROPERTIES IR DECK H1 2026
Slide 54: Raha Island
Raha Island PROJECT TYPE UNITS Bermuda Villas/Townhouses 157 Units Gateway I Residences Apartments 144 Units Edge Apartments 237 units Mirasol I Apartments 339 Units Mirasol II Apartments 280 Units SKAI Apartments 227 Units Solera Apartments 451 Units Nura Apartments 312 Units Armani Beach Residence
Slide 55: Lagoons
Lagoons PROJECT TYPE UNITS Granada I Villas/Townhouses 93 Units Malibu Villas Villas/Townhouses 213 Units Flamingo Villas Villas/Townhouses 192 Units Anantara Resort Hotel 174 Keys Lagoon Walk 20 Towers 800 Units Granada II Villas 80 Units AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 55
Slide 56: Others
Others PROJECT TYPE UNITS Julphar Tower RAK Apartment/Offices/Retail 884 Units RAK Tower Apartments 212 Units (Abu Dhabi ) Julphar Residence Apartments 266 Units (Abu Dhabi) The Strand Apartment/ Retail c. 6,000 Units AUGUST 2026 RAK PROPERTIES IR DECK H1 2026 56
Slide 57: Enhancing Lives and Places
ENHANCING LIVES AND PLACES | | PROPERTIES