Slide 1: Investor Presentation Q2 & H1 2026 financial results
Investor Presentation Q2 & H1 2026 financial results July 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 1 Macroeconomic and real estate market highlights 5 financial performance segments highlights 2 Q2/H1 2026 operational and financial performance highlights 9 performance 3 Development and investment update 19 4 Business segments performance 22 5
Slide 5: Macroeconomic and real estate market highlights
SECTION 1 Macroeconomic and real estate market highlights TECOM Group PJSC Investor Presentation Q2 & H1 2026 5
Slide 6: UAE Economy: Sustained Momentum and Strategic Resilience
Macroeconomic and real estate market highlights UAE Economy: Sustained Momentum and Strategic Resilience UAE non-oil foreign trade UAE Real GDP Growth CEPA +1.7% FY 2026F 38 Comprehensive Economic ~AED 2 trillion in H1 2026 Central Bank of the UAE (CBUAE) Partnership Agreements secured agreements si
Slide 7: Commercial & Office Sector: Supply Squeeze Drives Flight to Quality
Macroeconomic and real estate market highlights Commercial & Office Sector: Supply Squeeze Drives Flight to Quality Limited Supply Pre-Leasing Momentum Rental Rate Growth Less than 700,000 sqm projected Pre-leasing +13% YoY increase in average office completions during the rental rates in Q2 2026 pe
Slide 8: Industrial Sector: Balanced Growth and Scarcity Dynamics
Macroeconomic and real estate market highlights Industrial Sector: Balanced Growth and Scarcity Dynamics New Capacity To Be Added High Occupancy Rates Logistics & Industrial Scarcity 95% occupancy across Grade A Grade A scarcity in warehousing In 2026, approximately 6.6 industrial and logistics asse
Slide 9: Q2 & H1 2026 Operational and financial performance highlights
SECTION 2 Q2 & H1 2026 Operational and financial performance highlights TECOM Group PJSC Investor Presentation Q2 & H1 2026 9
Slide 10: Financial highlights (H1 2026)
H1 2026: Operational and financial performance highlights Figures in AED 'Million' Financial highlights (H1 2026) Operating performance Consolidated Occupancy Retention Rate Revenue EBITDA EBITDA margin (Excluding Land Leasing) 97% Commercial 94% AED 1,540 MN AED 1,223 MN 79% Industrial 99% 11% vs.
Slide 11: Healthy cash flow generation and increase in free cash flow
H1 2026: 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 1,960 2,078 2,005 1,643 1,447 1,422 984 1,101 1,162 54 458 719 2023 2024 2025 LTM Jun 2026 YTD 2025 YTD 2026 2
Slide 12: Growth strategy supported by healthy leverage standing
H1 2026: Operational and financial performance highlights Figures in AED 'Million' Growth strategy supported by healthy leverage standing BALANCE SHEET AED MN Debt facilities DEBT 5,534 CASH 675 EQUITY 8,257 TOTAL ASSETS 17,974 KEY RATIOS VALUE 2.1 BN 28% LOAN TO VALUE (LTV)1 13.9% NET DEBT / LTM2 E
Slide 13: Balance sheet
H1 2026: Operational and financial performance highlights Figures in AED 'Million' Balance sheet DESCRIPTION 30-Jun -26 31-Dec-25 YoY CHANGE % PROPERTY, EQUIPMENT AND INTANGIBLE ASSETS 100 102 -3% INVESTMENT PROPERTY 15,709 15,167 4% DERIVATIVE FINANCIAL INSTRUMENTS 68 62 10% TRADE, UNBILLED AND FIN
Slide 14: Income statement
H1 2026: Operational and financial performance highlights Figures in AED 'Million' Income statement DESCRIPTION 30-Jun -26 30-Jun -25 YoY CHANGE % REVENUE 1,540 1,389 11% DIRECT COSTS (485) (450) -8% GROSS PROFIT 1,055 939 12% OTHER OPERATING INCOME 21 39 -46% 1,077 978 10% GENERAL AND ADMINISTRATIV
Slide 15: Portfolio valuation
H1 2026: 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 33.1 25.4 9.5BN (
Slide 16: EPRA KPIs
H1 2026: Operational and financial performance highlights Figures in AED 'Million' EPRA KPIs KPI H1|2026 2025 H1|2025 2024 2023 2022 2021 IFRS EARNINGS (AED Million) 805 2,086 737 1,228 1,078 726 569 EPRA EARNINGS (AED Million) 1,069 1,946 968 1,638 1,502 1,024 898 IFRS NET ASSETS (AED Million) 8,25
Slide 17: Analyst coverage report
H1 2026: Operational and financial performance highlights Analyst coverage report According to analysts, TECOM price average target is AED 4.37 with a max estimate of AED 5.30 and a min estimate of AED 3.36 * Rating Buy Equal-weight Buy Over-weight Buy Buy Buy Buy Buy Buy Analyst HARSH NIDA CHARLES
Slide 18: Dividend policy update
H1 2026: Operational and financial performance highlights Figures in AED 'Million' Dividend policy update FY 2025 FY 2026E FY 2023 FY 2024 • Board of Directors approved AED 440 million dividend for H1 2026 to be paid in August 2026. H2 2022 • This is in line with the updated dividend policy for the
Slide 19: Development and investment update
SECTION 3 Development and investment update TECOM Group PJSC Investor Presentation Q2 & H1 2026 19
Slide 20: Development and investment update
Development and investment update Development of Acquisition of Acquisition of AED 33 million sq.ft of Innovation Hub Phase 4 university campus 2.5 BILLION industrial land 263K sq.ft +300k sq.ft Total investments in 2025 AED 1.6 BILLION Jabel Ali Port Land acquisition AED 615 MILLION Project develop
Slide 21: Industrial Land Leasing Case Study
Development and investment update Industrial Land Leasing Case Study Strong momentum, Clear execution path EXECUTION TIMELINE AND LEASING PROGRESS Q3 2025 Q4 2025 H1 2026 Q3 2026 9 Months Acquisition Early Traction, Strong Momentum, Momentum continues, Significant Progress Phase 1 Phase 2 Phase 3 ST
Slide 22: Business segments performance
SECTION 4 Business segments performance TECOM Group PJSC Investor Presentation Q2 & H1 2026 22
Slide 23: Commercial leasing segment
Business segments performance Figures in AED 'Million' Commercial leasing segment H1 H1 % CHANGE DESCRIPTION 2026 2025 YoY Strong performance in H1 2026, revenue increased by AED 80M (YoY), up +11% YoY driven by: REVENUE 783 703 11% • High occupancy maintained EBITDA 585 526 11% • Improved rental ra
Slide 24: Industrial leasing segment
Business segments performance Figures in AED 'Million' Industrial leasing segment H1 H1 % CHANGE DESCRIPTION 2026 2025 YoY AED 30M increase in revenue in H1 2026 (+15% YoY) due to: REVENUE 239 209 15% • Improved occupancy EBITDA 181 154 18% • Warehouse expansion EBIDTA MARGIN 76% 74% 2 pp Gross Leas
Slide 25: Land leasing segment
Business segments performance Figures in AED 'Million' Land leasing segment H1 H1 % CHANGE DESCRIPTION 2026 2025 YoY Revenue growth by AED 65M in H1 2026, up 22% YoY supported by: REVENUE 361 296 22% • Strong leased activities of the plots acquired EBITDA 333 290 15% • New leases at higher rates EBI
Slide 26: Services and others segment
Business segments performance Figures in AED 'Million' Services and others segment H1 H1 % CHANGE 2026 2025 YoY Services segment revenue declined by AED 24M c.13% YoY in H1 2026. REVENUE 157 181 -13% EBITDA margin improved by 3 percentage points EBITDA 125 138 -9% Drop is visa issuance and renewals
Slide 27: Sustainability and ESG
SECTION 5 Sustainability and ESG TECOM Group PJSC Investor Presentation Q2 & H1 2026 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 H1 2026
Sustainability and ESG ESG highlights and achievements of H1 2026 ESG Governance ESG Policy Outlining ESG objectives and commitments across material 81 LEED-certified buildings +22 new certifications obtained in H1 2026 61 NEW LICENSES topics to guide sustainability efforts. ISSUED Commercial Portfo
Slide 30: Achievements and outlook
SECTION 6 Achievements and outlook TECOM Group PJSC Investor Presentation Q2 & H1 2026 30
Slide 31: 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 32: 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 33: 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