Slide 1: Pakistan's leading Real Estate Development and Fund Management Company – Analyst Briefing
Pakistan’s leading Real Estate Development and Fund Management Company Analyst Briefing January 2026 1
Slide 2: Outline
Outline ` "TPL Properties is at the forefront of Pakistan’s real estate transformation — delivering institutional-grade developments through innovative design, strategic management, and a commitment to long-term value creation for investors and communities alike." Contents Slide# I. TPL Group Overvi
Slide 3: TPL Group Overview
TPL Group Overview Diversified Group, seeking to redefine & lead in its markets, incl. Financial Services & Real Estate ` 25.23% 100% 31.46% 53.81% 94.21% 62.98% 50.00% TPL Tech Pak (Pvt.) Ltd. 100% 100% 100% 38.02% 100% 29.68% 100% 100% Astra Location Services TPL Logistics (Singapore) Pte. Ltd Par
Slide 4: TPL Properties
TPL Properties Institutionalizing Real Estate in Pakistan ` 38% 93% 4
Slide 5: Our Dividend Streams as an Institutionalized Real Estate Holding Company
TPL Properties Our Dividend Streams as an Institutionalized Real Estate Holding Company ` TPL Properties (PSX:TPLP) ▪TPL Developments is a 100% ▪TPL Property Management is a ▪TPL REIT Management Company ▪TPL Properties owns 38.02% stake wholly-owned subsidiary of TPL 100% wholly owned subsidiary of
Slide 6: TPL REIT Fund I & Underlying Projects
TPL REIT Fund I & Underlying Projects
Slide 7: TPL REIT Fund I – Performance since Financial Close
TPL REIT Fund I Performance since Financial Close ` Fund Details Built-up Total Assets Developmen Fund Rating Area Return t Assets PKR 36 RFR3+ 16 mn sq. ft. 80%+ Billion + 3 + NAV Performance (PKR Bn) Key Achievements (FY25) NAV Undrawn Commitments May 2024 IPO of TPL REIIT Fund I NAV / unit: PKR 1
Slide 8: TPL REIT Fund I – Fund Portfolio & Strategy
TPL REIT Fund I Fund Portfolio & Strategy ` Book Value (In PKR' 83% 8% 9% Millions) Built-Up Area (sq.ft.) 95% 4% 1% Size of Land Parcel 1% 94% 5% (sq.yards) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Tech Park (TTZ) One Hoshang (HKC) The Mangrove (NMC) ▪ As per approval granted by ▪ It has been de
Slide 9: Projected Dividends Timeline
TPL REIT Fund I Projected Dividends Timeline ` FY22 FY24 FY25 FY26 FY27 1 Financial Close of the Fund 2 Successful IPO - OFS 3 Launch of The Mangrove 4 Secondary Public Offering 5 Dividend through Plot Sale HKC Sale Dividend FY31 FY30 FY29 FY28 ` 9 The Mangrove Dividend 8 The Mangrove 7 The Mangrove
Slide 10: The Mangrove – Master Planned Community for Mix Development Use
The Mangrove Master Planned Community for Mix Development Use ` ▪ High-rise waterfront development with 20 towers featuring residential, commercial, retail & hospitality space ▪ Development Period: First phase is estimated to be 3-4 years, while the total OFFICE TOWER project will be developed in ap
Slide 11: The Mangrove – Land Use Plan
The Mangrove Land Use Plan ` THE GREEN HEART THE BOARDWALK Central Park | Community Space | Play Areas | Mosque Mangrove Creekside Boardwalk | Apartments F&B Destination RETAIL ZONE RESIDENTIAL ENCLAVES THE HOSPITALITY ZONE Offices | Commercial Zones | Cafés & Restaurants Apartments | Green Views |
Slide 12: Twin Tower Tech Park
The Mangrove Twin Tower Tech Park ` Key Features TPL Tech Tower Safety & Security State of the Art IT Infrastructure: ➢ Multi-layered perimeter protection & screening ➢ Fibre backbone powering IT, telecoms & security ➢ RFID turnstiles, smart gates & 24/7 CCTV ➢ Dual-carrier redundancy for 100% uptim
Slide 13: Detailed Building Design & Site Infra Works in process
The Mangrove Detailed Building Design & Site Infra Works in process ` Status Snapshots Project Timeline ▪ The project has achieved completion of the concept design, biodiversity park, 1Q24 Detailed Infrastructure Design infrastructure engineering study and key 3Q24 Initiation Of Infrastructure Works
Slide 14: Lagoon Views I
The Mangrove Lagoon Views I ` ▪ First tower Lagoon Views 1 launched in January 2025. ▪ Groundbreaking ceremony held in July 2025. ▪ Ground improvement completed in December 2025. ▪ Pile Load Test conducted in December 2025. ▪ Piling works begin January onwards. 14
Slide 15: Sports Facility
The Mangrove Sports Facility ` ▪ Master planned and designed by Legends Arena. ▪ One futsal court and two padel courts completed. ▪ Facility currently operational for TPL staff; a futsal match successfully organized. ▪ Public opening targeted for April 2026. 15
Slide 16: Model Apartment
The Mangrove Model Apartment ` ▪ Construction of Model Apartment commenced in November 2025. ▪ Works up to Sub Structure has been completed. ▪ Building comprises of Light Gauge Steel (LGS) which is light weight structure and quickly erected. ▪ Target completion for this building facility is in May 2
Slide 17: TPL Offices
The Mangrove TPL Offices ` ▪ Sub structure works have been commenced in January 2026. ▪ Design for Super Structure works are underway. ▪ Building structure comprises Pre-Engineered Steel, which is quick to erect. ▪ Aim is to complete one block by end of May 2026. 17
Slide 18: External Road Maintenance
The Mangrove External Road Maintenance ` ▪ External Road and Main Entrance Gate works are also underway. ▪ Commenced in December 2025, the works up to granular sub-base have been completed. ▪ Asphalt road shall be laid once buried works are concluded. ▪ Road works shall be followed by Main entrance
Slide 19: Accessibility
The Mangrove Accessibility ` New Access Commute Status Routes from DHA Work in Progress. New Qayyum Abad Expected Completion 8 Minutes Interchange by March 2026 Bridge construction in Existing Route 12 Minutes finalization stage Tendering in process. KCIP Bypass Construction starting in 5 Minutes Q1
Slide 20: Mangrove Biodiversity Park
The Mangrove Mangrove Biodiversity Park ` ▪ The Mangrove Biodiversity Park aims to champion coastal resilience, ecosystem restoration, conserve and restore mangrove ecosystems, promote biodiversity and serve as an educational and recreational resource for the community. ▪ This plan outlines the sust
Slide 21: Partnership of TPL Group with one of the largest Builder & Developer in Karachi
The Mangrove Partnership of TPL Group with one of the largest Builder & Developer in Karachi ` TPL REIT MANAGEMENT COMPANY BUILDERS & DEVELOPERS ▪ Local expertise & strong execution track record ▪ Local market expertise & execution capability ▪ Strategic partnerships ▪ Integrated development platfor
Slide 22: TPL Properties – Financial Performance
TPL Properties – Financial Performance
Slide 23: P&L Comparison – Standalone Financials
TPL Properties - Financial Performance P&L Comparison – for the year ended June 30, 2025 (Standalone Financials) ` Profit & Loss Statement Jun-25 Jun-24 Description Variance Actual Actual A. Market price of TPL REIT Fund I (TPL RF1): remained largely stable, declining marginally from [PKR 000s] [PKR
Slide 24: Balance Sheet — June'25 Vs June'24 (Standalone)
TPL Properties - Financial Performance Balance Sheet — June’25 Vs June’24 (Standalone Financials) ` Equity and Liabilities Jun-25 June-24 Total Assets Jun-25 June-24 Balance Sheet [PKR 000s] [PKR 000s] A. Short Term Borrowings: Reduced SHARE CAPITAL NON-CURRENT ASSETS significantly following the set
Slide 25: P&L Comparison – Consolidated Financials
TPL Properties - Financial Performance P&L Comparison – for the year ended June 30,2025 (Consolidated Financials) ` Jun-25 Jun-24 Profit & Loss Statement Description Variance Actual Actual A. Topline Variance [PKR 000s] [PKR 000s] [%] ▪ On a consolidated basis, income improved A Income / (Loss) 455,
Slide 26: Balance Sheet — June'25 Vs June'24 (Consolidated)
Lagoon Financial Performance Balance Sheet — June’25Vs June’24 (Consolidated Financials) ` Equity and Liabilities Jun-25 June-24 Total Assets Jun-25 June-24 Balance Sheet [PKR 000s] [PKR 000s] A. Variance in Long-term Investments: SHARE CAPITAL NON-CURRENT ASSETS Reflect the movement in the market I
Slide 27: Disclaimer and Company Address
20th Floor, Sky Tower – East Wing, Dolmen City Block 4, Clifton, Karachi, Pakistan DISCLAIMER This Presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. Cons