Slide 1: Investor Relations Update
INVESTOR RELATIONS UPDATE Financial results Q1 2026. Published 12 th MAY 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 Sustainability 32 Market outlook 40 Appendix 45
Slide 4: RAK Properties Overview
RAK PROPERTIES OVERVIEW | | PROPERMES
Slide 5: RAK Properties snapshot
RAK Properties snapshot 50,000,000 sqft TASHA, ANTONIO, HUNTER & BARREL LANDBANK BEING READIED FOR OPENING c. 4,059 HOMES SUCCESSFULLY DELIVERED 1,000,000 sqft GLA BAR DU PORT BEACH & LADUREE (9,600 sqft UNDER FITOUT) NOW OPEN ICONIC PARTNER BRANDS – 525 KEY HOSPITALITY PORTFOLIO 2 PRIME DESTINATION
Slide 6: 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 7: RAK Properties brand values
RAK Properties brand values RESPONSIBLE COMMUNITY VALUE DRIVEN SUSTAINABILITY EXCELLENCE & ACCOUNTABLE CENTRIC We are guid ed b y integrity, We aim to foster environments in Our ethos is anchored in add ing Sustaina bility is the cornerstone of We are relentlessly committed to resp ect, and transpa
Slide 8: 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 9: RAK Properties timeline
RAK Properties timeline 2005 – 2006 2010 – 2012 2017 – 2020 2022-2023 2024 • RAK Properties was • Granada Villas Community • Raha Island development • Intercontinental RAK Resort • Anantara Mina RAK Resort established in Mina delivered begins in Mina & Spa opened. opened Award winning • The IPO was
Slide 10: RAK Properties awards
RAK Properties awards 2023 2024 2025 BAY VIEWS QUATTRO FORBES DEL MAR MIDDLE Best residential pro ject at the An nual Design Middle East Awards 2023 EAST Best mixed-use project at the Pillars o f Real Estate Awards 2024. MUSE Design Award for mixed- Sameh Mu htadi n amed in this use architectu ral d
Slide 11: 2025 announcement highlights
2025 announcement highlights MINA MASTERPLAN MIRASOL SALES FOUR SEASONS SKAI LAUNCH ANANTARA BRANDED UNVEILING LAUNCH RESIDENCES Approved masterplan Resort inspired living on Raha New luxury hospitality Premium apartments on Raha Reside in the splendour of revealed to broker community. Island. partn
Slide 12: 2025 announcement highlights
2025 announcement highlights ENTA & HIVE SOLERA ARMANI BEACH MIRASOL II NURA RESIDENCES From HIVE, the visionary team The pulse of Mina’s dynamic Giorgio Armani and RAK Shaping the future of north An address built with intention behind HIVE JVC, and RAK new downtown district. Properties Partner to L
Slide 13: 2026 announcement highlights
2026 announcement highlights SKAI MAIN HANDOVERS LAUNCH OF THE BAR DU PORT OPENS LADUREE OPENS CONTRACT STRAND Premium apartments on Raha Over 100 homes handed over RAK Properties launched the Bar Du Port Beach, a major Where French elegance meets Island. in Q1 2026 as the Company Strand, its 186,00
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS | | PROPERMES
Slide 15: Q1 2026 performance overview
Q1 2026 performance overview Q1 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 a new REVENUE 278 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) Q1 2025 vs Q1 2026 Q1 2025 vs Q1 2026 Q1 2025 vs Q1 2026 Q1 2025 vs Q1 2026 -33% -25% -73% -29.8% 839 107 1.34 370 72 0.94 278 228 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 MAY 2026 16
Slide 17: Revenue growth track record
Revenue growth track record Substantial investments in residential and hospitality projects, the successful completion of key developments, and a clear d elivery path for the remainder of 2026. 2026 will be a year in which RAK Properties focuses on the continued sales of launched inventory, supporte
Slide 18: Expansion of revenue streams beyond residential
Expansion of revenue streams beyond residential 2000 Revenue By segment in AED Mns 2026 revenue 1600 decreased by 1200 1538 25% year on year 800 1146 831 400 460 280 74 61 213 RAK Properties continues to expand its hospitality 58 225 57 200 56 71 116 10 55 sector, leveraging the growth in tourism 0
Slide 19: Asset distribution
Asset distribution 31 March 2026 COMPLETED CONSTRUCTION PLANNING GDV (AED Mn) 4,076 3,769 3,176 No. Of Units 4,059 3,145 1,767 Around 1 Million sqft GLA C. AED 8,820 Mn in Total Assets as of 31 March 2026 as of 31 March 2026 64% 17% 55% 28% 28% 8% Commercial Retail Residential Property Sales Hotel O
Slide 20: Solid balance sheet
Solid balance sheet DEBT MATURITY PROFILE* in AED Mns In AED Mns 2025 Q1 2026 250 237 Debt 1,011 1,110 200 Cash 518 559 Net Debt 493 551 146 150 Total Equity 5,942 5,981 119 89 Total Assets 8,706 8,820 100 60 2025 Q1 2026 50 Net Debt/Equity 8.3% 9.2% 0 Debt/Total 2026 2027 2028 2029 2030 & 11.6% 12.
Slide 21: Total liabilities
Total liabilities 2.7% Liabilities in AED millions. RAK Properties is adequately funded through sufficient advance collections and credit facilities. 2900 2850 2839 2800 2750 2764 2700 2650 2025 Q1 2026 MAY 2026 21
Slide 22: Income statement
Income statement FY FY FY FY FY Q1 2021 2022 2023 2024 2025 2026 Revenue 516 408 1005 1406 1,837 278 (AED M) 2026 gross profit Gross Profit 195 141 365 543 708 115 decreased by (AED M) EBITDA 21% Y-o-Y (AED M) Net Profit 221 94 264 376 535 72 Before Tax 202 31 202 308 444 44 (AED M) Gross Profit Mar
Slide 23: Net profit before tax decreased by 40% year on year in Q1 26
Net profit before tax decreased by 40% year on year in Q1 2026 GROSS PROFIT in AED MNs NET PROFIT BEFORE TAX in AED MNs 800 500 444 708 400 308 700 300 202 202 200 600 543 100 31 44 500 0 2021 2022 2023 2024 2025 Q1 2026 400 365 EBITDA in AED MNs 300 195 600 535 200 141 500 376 115 400 100 300 221 2
Slide 24: Share price information
Share price information 31 Dec’21 31 Dec’22 31 Dec’23 31 Dec’24 31 Dec’25 31 Mar’26 Market Cap (AED Mns) 1,540 1,360 2,280 3,420 4,050 2,820 Share Price (AED/Share) 0.77 0.68 1.14 1.14 1.35 0.94 EPS(AED/Share) 0.10 0.015 0.101 0.111 0.135 0.013 5,500 1.35 4,500 1.14 1.14 0.94 1.1 3,500 0.77 2,500 0.
Slide 25: Financials by business segment
Financials by business segment Contribution from recurring revenue generating businesses Q1 2026 Revenue: 23% Gross profit: 35% Revenue Share Gross Profit Share 15% 20% 29% 23% 5% Q1 3% Q1 Q1 Q1 2025 2026 2025 6% 2026 6% 71% 80% 77% 65% Property Sales Hospitality Asset Management MAY 2026 25
Slide 26: Robust hospitality performance
Robust hospitality performance INTERCONTINENTAL ANANTARA HOSPITALITY Q1 2025 Q1 2026 Q1 2025 Q1 2026 Number of Keys 351 351 174 174 Average Daily Rate (ADR, AED) 750` 834 1,507 1,372 Occupancy Rate (%) 62% 61% 72% 63% Revenue per available room (RevPAR) (AED) 523 585 1,002 912 Room Revenue (AED Mn)
Slide 27: Operational Highlights
OPERATIONAL HIGHLIGHTS | | PROPERMES
Slide 28: Projects under development as at 31st March 2026
Projects under development as at 31st March 2026 LAUNCH UNITS UNITS NET SALES REVENUE % % PROJECT LOCATION YEAR LAUNCHED SOLD (AED M) BACKLOG SOLD COMPLETE Bayv iews Mina 2023 344 344 421 21 100% 95% Beach House 1 Mina 2023 7 6 39 0.1 86% 99.9% Beach House 2 Mina 2023 6 4 24 5 67% 80% Bay Residence
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 2,822,143 547,447 506,746 354,273 739,103 890,052 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 MAY 2026 30
Slide 31: Investment proposition
Investment proposition TRACK ECONOMIC QUALITY FINANCIAL STRONG NEW LAND PRUDENT RECORD BACKDROP PORTFOLIO PERFORMANCE MANAGEMENT ACQUISITIONS MANAGEMENT Almost 20 years of RAK’s long term Covering residential, Financial results Highly experienced New land Prudent creating shareholder growth prospect
Slide 32: Sustainability
SUSTAINABILITY | | PROPERMES
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: ESG leadership
ESG leadership Environmental, Social, and Governance (ESG) principles are at the heart of We improved by 16 points, 53% higher than our 2024 score RAK Properties' vision and mission. Our leadership is committed to driving environmental responsibility and sustainable growth across all our development
Slide 35: 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 habitats mangroves and for corals and fish, reducing associated wetlands coastal erosion and n
Slide 36: Environmentally responsible consumption
Environmentally responsible consumption key environmental indicators for 2025 CARBON EMISSION WATER CONSUMPTION WASTE MANAGEMENT Key initiatives to reduce carbon footprint: Key measures to optimize water use: Key measures to optimize waste handling: Low-flow/low-flush water fixtures Energy Audits Wa
Slide 37: 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 38: 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. • 317 employees: 22% UAE Nat
Slide 39: 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 40: Market Outlook
MARKET OUTLOOK | | PROPERMES
Slide 41: RAK is the fourth largest Emirate by land mass
RAK is the fourth largest Emirate by land mass • 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. SHARJAH • With an estimated population of 0.4 million and a GDP of Sharjah Inte
Slide 42: 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 MAY 2026 42
Slide 43: RAK Properties outlook
RAK Properties outlook Ras Al Khaimah is a market that continues to mature, acquire depth, and also grow. Entering 2026, the macro fundamentals remain solid – S&P re-affirmed it’s a/A-1 stable outlook for the Emirate, with a forecast of real GDP growth of 2.2% over 2026 and 2026, following estimated
Slide 44: Customer breakdown by nationality
Customer breakdown by nationality RAK Properties enjoys a diverse buyer base with customers drawn from 126 countries (2025 - 124 countries). Nationality based on passport MAY 2026 44
Slide 45: Appendix: Project Highlights
APPENDIX: PROJECT HIGHLIGHTS
Slide 46: Residences, Retail & Amenities, Hotel & Resorts
RESIDENCES RETAIL & AMENITIES HOTEL & RESORTS 1 GRANADA I 10 BAY RESIDE NCE S 19 EDGE 26 BEAC H 36 ANANTARA RESORT & SPA 2 GRANADA II 11 BAY VIE WS 20 SKAI 27 RETAIL PLAZA 37 INTERCONTINENTAL RESORT & SPA 3 LAGOON BUILDINGS 12 CAPE HAYAT 21 SOLERA 28 ECO LODG E 38 NIKKI BE ACH RESORT & SPA 4 MALIBU
Slide 47: Mina masterplan map
MARBELLA ‘ : . = gata rae QUATTRO DELMAR ANANTARA — ma a H qd yat | S | ad a d (within Mina, RAK) Residential, Commercial, and Hospitality
Slide 48: 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 49: 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, Commercial, and Hospitality
Slide 50: 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 MAY 2026 50
Slide 51: 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 MAY 2026 51
Slide 52: 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 MAY 2026 52
Slide 53: Enhancing Lives and Places
ENHANCING LIVES AND PLACES | | PROPERMES