Transmission of Annual Report for the Year Ended December 31, 2025

askariban,t@

ANNUAL REPORT 2025

TABLE OF

CONTENTS

Corporate Profile 02

Vision, Mission & Core Values 03

Financial Highlights 04

Corporate Information 05

Organizational Chart 06

Products & Services 07

Digital Snapshot 17

Awards & Recognition 18

Notice of the 34th

Annual General Meeting 20

Profile of Directors 25

Board Committees 36

Chairman's Review 37

Sustainability & Corporate

Social Responsibility 38

Value Added Statement 44

Financial Review 45

DuPont Analysis 47

Financial Calendar 48

Share & Debt Information 49

Horizontal & Vertical Analysis 50

Our Presence 52

Directors' Report to the

Shareholders - English 54

Six Years' Financial Summary 62

Directors' Report to

the Shareholders - Urdu 70

Statement on Internal Controls 71

Statement of Compliance 72

Independent Auditors'

Review Report to the Members 74

UNCONSOLIDATED

FINANCIAL STATEMENTS

Independent Auditors' Report

to the Members 76

Unconsolidated Statement of

Financial Position 81

Unconsolidated Statement of

Profit and Loss Account 82

Unconsolidated Statement of

Comprehensive Income 83

Unconsolidated Statement of

Changes in Equity 84

Unconsolidated Cash Flow Statement 85

Notes to the Unconsolidated

Financial Statements 86

Profile of Shariah Board Members 177

Report of Shariah Board - English 178

Report of Shariah Board - Urdu 179

CONSOLIDATED

FINANCIAL STATEMENTS

Independent Auditors'

Report to the Members 192

Consolidated Statement of

Financial Position 197

Consolidated Statement of

Profit and Loss Account 198

Consolidated Statement of

Comprehensive Income 199

Consolidated Statement of

Changes in Equity 200

Consolidated Cash Flow Statement 201

Notes to the Consolidated

Financial Statements 202

Pattern of Shareholding 290

Form of Proxy - English 293

Form of Proxy - Urdu 295

CORPORATE PROFILE

Askari Bank's journey began in 1992 as 'Askari Commercial Bank Limited'. Over the decades, the Bank evolved as a well-diversified financial institution committed to creating enduring value for all our stakeholders - our clients, team, partners and shareholders. Adapting to the changing banking landscape and expanding its services to cater to a broader clientele, the Bank opened a wholesale banking branch in Bahrain in 2003, obtained Islamic banking license in 2006, acquired a leasing company in 2010, opened a representative office in Bejjing China in 2016, acquired controlling interest in Foundation Securities (Pvt) Limited in 2023 and launched a currency exchange company in 2024.

Today, backed by entity rating of AA+ (by PACRA) and a strong physical footprint represented by a nationwide network of 756 branches, the Bank has earned the trust of thousands across the nation to solidify its status as the bank of choice for individuals and businesses alike. Askari Bank's success comes from the 10,000+ employees who leverage their imaginations and insights to bring the Bank's vision, values and strategy to life to help its clients thrive and businesses prosper.

Askari Bank ranks at 10th position in local banking industry, based on market capitalization, has a diversified business model with a focus on innovation and digitization continually aspiring to provide exceptional experience to its more than two million customers. The Bank is guided by its purpose - to help make ambitions a reality, and is activating its resources to create positive change and contribute to a more equitable, inclusive and sustainable future.

Fauji Foundation

71.91%

Fauji Foundation - 7.19%

Fauji Fertilizer Company Limited - 64.72%

Askari Currency Exchange (Pvt) Limited

100%

owned subsidiary

Principally engaged in currency exchange services

Foundation Securities (Pvt) Limited

51%

owned subsidiary

Principally engaged in the business of equity and commodities brokerage, equity research and corporate financial advisory services

02 Annual Report 2025

VISION

To be the bank of first choice.

MISSION

To serve with excellence, integrity and care with a winning mindset and customer first approach with a view to earning enduring trust while upholding Shariah principles and creating sustainable long term value for all stakeholders.

CORE VALUES

Winning Mindset

We think customer-first and act to win, every interaction, every time.

A performance-driven mindset anchored in service excellence, ownership, and

outcomes that build trust and loyalty.

Excellence in Action

We raise the bar in everything we do.

A commitment to quality, precision, and superior service delivery, consistently and without compromise.

Character & Integrity

Integrity defines who we are and how we are trusted.

We act ethically, transparently, and responsibly, earning confidence through principled decisions and conduct.

Agility with purpose

We move fast, adapt quickly, and act decisively.

Speed, responsiveness, and accountability enable us to stay ahead in a dynamic and competitive environment.

Nurture to Empower

Together, we enable growth, of people, relationships, and possibilities.

A culture of collaboration, inclusion, and empowerment where collective strength drives success.

Askari Bank Limited 03

FINANCIAL HIGHLIGHTS

Profit After Tax

22,803

2024

21,023

Rs. in million

2025

Earnings Per Share

15.73

2024

14.51

2025

Rupees

Return on Total Equity

16.68

Return on Assets

0.85

2024

19.22

2025

Percentage

2024

0.91

2025

Percentage

04 Annual Report 2025

CORPORATE INFORMATION

BOARD OF DIRECTORS

Lt Gen Anwar Ali Hyder, HI (M) (Retd)

Chairman/ Non-Executive Director

Mr. Jahangir Piracha

Non-Executive Director

Maj Gen Muhammad Zafar Iqbal, HI (M) (Retd)

Non-Executive Director

Syed Bakhtiyar Kazmi

Non-Executive Director

Mr. Khurshid Zafar

Non-Executive Director

Mr. Manzoor Ahmed

Non-Executive Director/ NIT Nominee

Mr. Kamran Yousuf Mirza

Independent Director

Ms. Samina Rizwan

Independent Director

Ms. Vadiyya Khalil

Independent Director

Raja Muhammad Abbas

Independent Director

Mr. Zia Ijaz

President & Chief Executive Oficer

SHARIAH BOARD

Mufti Muhammad Zahid

Chairman

Dr. Muhammad Tahir Mansoori

Resident Shariah Board Member

Mufti Zakir Hassan Naumani

Member

Dr. Lutfullah Saqib

Member

AUDITORS

A. F. Ferguson & Co.,

Chartered Accountants

LEGAL ADVISORS

RIAA, Barker Gillette

Advocates & Corporate Counselors

COMPANY SECRETARY

Syed Ali Safdar Naqvi

REGISTERED OFFICE

AWT Plaza, The Mall, P. O. Box No. 1084

Rawalpindi - 46000, Pakistan

Tel: (92 51) 8092631

UAN: (92 51) 111 000 787

Fax: (92 51) 2857448

Email: ir@askaribank.com.pk

BOARD COMMITTEES AUDIT

Mr. Kamran Yousuf Mirza - Chairman

Mr. Jahangir Piracha Syed Bakhtiyar Kazmi Mr. Manzoor Ahmed

HUMAN RESOURCE & REMUNERATION

Raja Muhammad Abbas - Chairman

Mr. Jahangir Piracha Mr. Khurshid Zafar Mr. Manzoor Ahmed Ms. Samina Rizwan

RISK MANAGEMENT

Mr. Manzoor Ahmed - Chairman

Maj Gen Muhammad Zafar Iqbal, HI (M) (Retd) Syed Bakhtiyar Kazmi

Mr. Khurshid Zafar

Ms. Vadiyya Khalil

INFORMATION TECHNOLOGY

Ms. Samina Rizwan - Chairperson

Maj Gen Muhammad Zafar Iqbal, HI (M) (Retd) Syed Bakhtiyar Kazmi

Raja Muhammad Abbas

Mr. Zia Ijaz

REGISTRAR & SHARE TRANSFER OFFICE

CDC Share Registrar Services Limited (CDCSRSL) Mezzanine Floor, South Tower, LSE Plaza

19-Khayaban-e-Aiwan-e-Iqbal, Lahore

Tel: Customer Support Services (Toll Free) 0800-CDCPL (23275)

Tel: (92 42) 36362061-66

Fax: (92 42) 36300072

Email: info@cdcsrsl.com

Website: https://www.cdcsrsl.com

ENTITY RATINGS

Long Term: AA+ Short Term: A1+ By PACRA

WEBSITE & SOCIAL MEDIA

https://www.askaribank.com

askaribankpakistan Askari_Bank

askaribankpk askaribanklimited AskariBankOfficial

Askari Bank Limited 05

ORGANIZATIONAL CHART

Board of Directors

Board Information Technology Committee

Board Human Resource & Remuneration Committee

Board Risk Management Committee

Board Audit Committee

Company Secretary

President & CEO

Chief Internal Auditor

Group Head Retail Banking

Group Executive Operations, Transformation & IT

Group Executive &

Chief Financial Officer

Chief Risk Officer

Group Head Corporate & Investment Banking

Group Head Operations

Country Head Finance & Planning

Chief Compliance Officer

Global Treasurer

Chief Information Officer

Country Head General Services

Chief Human Resource Officer

Country Head Islamic Banking

Country Head Branch Banking Operations

Country Head Marketing & Corporate Communication

Group Head Special Assets Management

Chief Digital Officer

Head Performance Management & Head Transformation

Country Head Customer Exp & Service Quality

Head Group Financial Services

06 Annual Report 2025

PRODUCTS & SERVICES

Askari Bank offers a comprehensive range of financial solutions tailored for the needs of its diverse customer segments; retail, corporate, commercial, SME, consumer and agriculture delivered through a network of 757 branches, under both conventional and Islamic banking modes as described here under:

Corporate, Commercial & Investment Banking

The Bank understands the diverse business requirements of the Bank's corporate and institutional clients, and accordingly strives to meet their expectations by providing a customised and relationship-based banking approach.

Corporate Banking

Corporate banking works on a long-term relationship-based business model to provide a single point within the Bank which meets all business requirements of its corporate and institutional customers, including public sector enterprises. Along with innovative products and solutions, customer service remains the Bank's top priority. The Bank's relationship-oriented outlook focuses on providing a complete array of tailored financing solutions that are practical and cost effective, some of which include:

• Working Capital Facilities

• Term Loans

• Letters of Guarantee

• Letters of Credit

• Discounting Facilities

• Export Financing

• Cash Management and Employee Banking Solutions

Commercial Banking

Commercial Banking serves the middle tier segment by providing both general and tailored solutions encompassing all financial needs of borrowers ranging from Trade Finance to working capital requirements. Dedicated relationship managers provide customised solutions to the Bank's customers.

Corporate Lease Unit

Leasing specialises in providing a broad range of leasing and equipment finance solutions to businesses of all sizes (Corporate / Commercial / SME). Askari Bank offers customised lease structures to match cash flows and specific financial requirements of the client. It optimises

both operational efficiency and financial performance by helping businesses to conserve capital and maintain liquidity while acquiring necessary equipment / assets. Key financing solutions offered by Corporate Leasing are:

1. Equipment Leasing: Offers leasing options for different types of equipment, industrial machinery, medical and IT equipment, etc.

2. Fleet Financing: Offers financing for (i) commercial vehicles to meet transportation / logistic requirements of the business and (ii) noncommercial vehicles for meeting organisations and institutions requirement of providing vehicles to their executives

   / employees.

3. Green Energy Solutions: Helps in acquiring energy-efficient and environment friendly equipment, contributing towards greener / sustainable environment goals.

Investment Banking

Investment banking offers a range of financial advisory and capital raising services to corporate and institutional clients. It also manages the Bank's investments in local debt market. Investment banking offers various tailored financial solutions including debt syndications, project finance and advisory services, structured trade finance facilities, debt placements through capital markets including Sukuk issuances, encompassing both secured and unsecured structures, further broadening access to Shariah-compliant capital market solutions. Whether a company is seeking to access the local or cross border syndications and debt capital markets, project financing needs, advisory services related to Mergers and Acquisitions and or local equity capital markets for raising capital, the Bank's Investment Banking is well positioned to provide due assistance.

International Banking

Having Correspondent Banking relationships with

551 banks in 80 countries around the world, Askari International Banking remains focused on tapping new markets in Europe apart from South East Asia and Middle East markets to boost international trade and remittances. Concentrated efforts are also being made to promote business from China, leveraging on positive spill-over of Chinese investment in Pakistan, especially under CPEC.

Askari Bank Limited 07

Retail Banking

Askari Bank's Retail Banking group serves individual and small business customers through a wide range of products and services, including deposit accounts, personal loans, credit cards, and mortgage solutions. The Bank leverages a growing branch network, digital banking platforms, and tailored customer service to provide accessible and convenient banking solutions. Focused on enhancing customer experience, retail banking continues to contribute significantly to the Bank's deposit base, fee-based income, and overall profitability, while supporting financial inclusion across urban and semi-urban markets.

Askari Zabardast Current Account

The Askari Zabardast Current Account is designed as an inclusive banking solution catering to individuals, sole proprietors, and businesses. Offering a comprehensive range of exclusive free-value added benefits, this product delivers tailored solutions that enable seamless financial Management.

Current Account

Askari Bank's Current Accounts are designed to meet a wide range of transactional requirements for individuals and businesses. These accounts offer enhanced convenience through value-added features such as cheque books, debit cards, banker's cheque, real-time transaction alerts, i-Net Banking, and much more.

Savings Account

The Bank offers Savings Accounts to both individual and institutional customers through a diverse portfolio of specialised products, including Askari Maximiser, Askari Waqaar (for senior citizens), Askari Little Champs (for minors), and Institutional Savings Plus (for entities). These accounts combine attractive features with competitive returns, delivering secure, flexible, and rewarding savings solutions tailored to customer needs.

Term Deposit

Askari Bank's Term Deposit products are structured to meet the investment objectives of both individual and corporate customers with medium to long term needs. These deposits offer a balance of security and flexibility, providing competitive profit options with customisable payout frequencies aligned with customer preferences.'

Askari Click Freelancer Account

The Askari Click Freelancer Account is a specialised Current Account designed to facilitate the banking needs of freelancers and self-employed professionals engaged in the digital economy.

This account offers a range of free services and features, enabling freelancers to manage their transactions efficiently while benefiting from the Bank's digital banking platform.

Askari Asaan Account

The Askari Asaan Account is designed to promote financial inclusion by catering to unbanked and underbanked individuals. Available in both Current and Saving variants, the account offers a simplified and hassle-free account opening and maintenance process, facilitating access to essential banking services for low-income segments.

Askari Sahar Account

Askari Sahar Deposit Suite is specifically designed to cater to the diverse banking needs of Pakistani women, with the aim to minimise the gender gap in financial inclusion. Askari Sahar account is offered in all Current, Savings and Term Deposit as well as Foreign Currency variants with a range of free banking services and attractive returns.

Ascend Priority Banking

Ascend Banking is Askari Bank's priority proposition tailored to offer an enhanced banking experience coupled with personalised services and exclusive privileges. Ascend is built on a relationship driven model, combining convenience, luxury and bespoke ancillary benefits. The Ascend proposition offers a highly curated banking experience offering personalised advisory, efficient service delivery and exclusive privileges creating a seamless and distinctive experience for our High Net Worth (HNW) customers.

Key privileges under Ascend Priority Banking include:

• Access to exclusive Ascend Priority Lounges.

• Dedicated Priority Relationship Managers.

• Premium turnaround times and service standards.

• Askari Visa Signature Debit Card with value enriched features and global acceptance.

  
  
  
  
  

  ASCEN$'

  ASCEND TO EXCELLENCE

  LUXURY MEETS

  
  
  
  
  
  
  

  BANKING

  Askari

  
  
  

  • Enhanced transaction and withdrawal limits

  • Waivers in schedule of Bank charges.

  • Complimentary access to domestic and international airport lounges

  • 24/7 Dedicated Priority Contact Centre support

  • Exclusive dining, travelling and lifestyle alliances and discounts

    Ascend priority lounges come with an ambiance of richness and luxury dovetailed with digital solutions and a wide array of unique products and services.

    Women Financial Services Department

    Women Financial Services Department (WFSD) at Askari Bank is committed to uplift the women segment by creating an inclusive ecosystem where women thrive as independent contributors to a more equitable economy. Dedicated Women Financial Services Desks, led by Women Champions have also been established for Women to ensure seamless access to banking services and empowering them to make better financial decisions.

    As part of our commitment to SBP Banking on Equality Policy, Askari Bank has been Ranked the 2nd Best in mid-size Banks, reflecting our continued progress on Women Financial Inclusion. Askari Bank has also been awarded "Women in Business Champion Award" by Asian Development Bank (ADB) in Trade & Supply Chain Finance Program 2025, for recognizing the Bank's commitment towards harnessing Women's potential, bridging gender gap in leadership,fostering career progression for Women, and creating an inclusive institution that empowers Women to champion their financial endeavors.

    China Desk

    Askari Bank's China Desk remains a cornerstone of our commitment to fostering strong financial and trade relations between Pakistan and China. Askari China Desk was created with the sole intent of facilitating Chinese businesses working for various projects in Pakistan and has been immensely successful in term of fostering rich financial prospects and bringing in valuable Chinese deposits and trade. With an increasing number of Chinese investors entering Pakistan, the Bank is well-placed to cater the needs of all existing and new

    customers. Our Representative Office in Beijing - China, plays an important role in facilitating these initiatives, ensuring that we remain a trusted financial partner in the Belt and Road Initiative.

    Askari Asaan Remittances & Roshan Digital Account

    Participation in the State Bank of Pakistan's Pakistan Remittance Initiative (PRI) remains a strategic priority for Askari Bank. Home remittance segment plays a vital role in supporting household incomes and contributing to Pakistan's economic stability. Askari Bank facilitates secure, efficient, and compliant remittance services through its global network of remittance partners. The Bank's web-based platform, Askari Asaan Money Transfer, enables real-time processing of remittances, including:

• Direct account credits

• Mobile wallet transfers

• Over-the-counter cash payments

  These services are offered free of charge and are accessible to all citizens across Pakistan. To further strengthen remittance service delivery and support the objectives of the PRI, Askari Bank continues to invest in technology, system capacity, and human resources, reinforcing its commitment to reliable and customer-centric remittance solutions.

  Roshan Digital Account (RDA) is an initiative of the State Bank of Pakistan designed to provide banking, payment, and investment solutions for Non-Resident Pakistanis (NRPs). The account enables NRPs to invest in Pakistan through a fully digital account opening process accessible from anywhere in the world. Askari Bank facilitates Roshan Digital Account opening through its Website, Mobile Application, and WhatsApp platform. Customers may open foreign currency accounts in USD, GBP, EUR, or PKR under both Conventional and Islamic banking frameworks. The RDA also offers government-issued investment options, including Conventional and Islamic Naya Pakistan certificates. Askari Bank's Roshan Digital Account contributes to the enhancement of Pakistan's inbound remittances. To support this initiative, the Bank has established a dedicated RDA unit to ensure efficient service delivery and timely resolution of NRPs' queries.

  Digital Banking - Innovation to Impact - Today & Beyond

  Leading the Digital Future

  Guided by its mission of "Getting Closer to the Customer", Askari Bank continued to advance its digital banking agenda during 2025, translating innovation into tangible customer value, operational scale and sustainable growth.

  In a rapidly evolving digital environment, the Bank adopted a customer-centric design philosophy, emphasising speed, simplicity and security across all digital touchpoints. This approach enabled Askari Bank to consistently meet industry benchmarks, reinforcing its position as a forward-looking bank committed to delivering meaningful, connected and trusted banking experiences.

  Reimagining Banking Through Mobile App: The Lasting Impact

  Askari Bank's mobile app is characterised by its simplicity, intuitiveness speed and high availability offering a mobile banking experience to 1.1 million users. Mobile App remained cornerstone of the Bank's digital ecosystem.

  To strengthen daily relevance, Bank expanded the Mobile App beyond transactional banking into a broader lifestyle platform. The launch of Askari Edge, a mini-App ecosystem, enabled seamless access to services such as ticketing, insurance, investments and digital utilities - positioning the App as a single, integrated interface for customers' everyday financial and lifestyle needs. Additional enhancements across payments, Cardless Cash Withdrawal transactions, Ask Advance, Bill Split, Spending insights, Bilingual Interface and higher transaction limits further enriched usability and convenience.

  In-App Calling - Trusted Digital Interaction

  Recognising the growing importance of secure customer communication, Askari Bank offers a verified in-app calling feature, enabling customers to interact directly with the Bank within a trusted digital environment. This innovation significantly reduced fraud risks associated with unknown calls, enhanced authentication and ensured real-time support.

  Smart Communities and Ecosystem Banking

  Askari Bank launched Pakistan's first Smart Housing Society Digitisation initiative, redefining the role of banking within community life. The initiative transforms housing societies into fully connected, cashless ecosystems by embedding payments, utilities, retail and service interactions into a unified digital framework.

  Through deep hyper-localisation, the model enables residents, merchants and service providers to operate within an integrated digital value chain - shifting banking engagement from occasional transactions to seamless daily interactions.

  Innovation at Scale: Digital Innovation Lab

  The Bank continued to strengthen its innovation capability through the evolution of Askari Digital Innovation Lab, which has matured into a Technology Development Lab equipped with advanced tools and collaborative frameworks. The Lab plays a central role in accelerating experimentation, product development and cross-functional collaboration - embedding innovation as a core institutional capability rather than a standalone function.

  Advancing with Generative AI

  Askari Bank advanced beyond basic automation by deploying Generative AI-powered knowledge ecosystems across key functions. Intelligent chatbots supporting HR policies, information security, product knowledge and Shariah-compliant advisory significantly improved access to accurate, contextual information.

  In collaboration with National Center of Artificial Intelligence (NCAI), Bank deployed a centralised product information platform, enabling consistent and timely access to banking knowledge for both internal teams and customers - enhancing governance, efficiency, and service quality.

  Click Account - Digital Pathway to Financial Inclusion

  The launch of Click Account marked a major milestone in fully digital onboarding. With a two- minute account opening journey and bundled banking services, the product demonstrated strong market acceptance.

  Importantly, the initiative supported national financial inclusion objectives, with 30% female participation and strong adoption among GenZ - digitally native customers. These outcomes align with Bank's longterm strategy of expanding access to formal banking while engaging the next generation through inclusive, technology-led solutions.

  Phygital Banking Experience and Banking-as-a-Service

  Askari Bank continued to reimagine physical banking through digitally enabled branch experiences. During the year, 11 digital lobbies became operational, complemented by digital lockers, instant cheque printing and specialised offerings such as freelancer accounts - enhancing convenience, speed and customer satisfaction.

  The Bank also expanded its Banking-as-a-Service (BaaS) capabilities through a strategic partnership with Mashreq Bank, enabling seamless integration between digital banking and physical infrastructure. This collaboration enhanced customer convenience, optimised network utilisation and reinforced Askari Bank's role as a trusted financial services enabler.

  Infrastructure Resilience and Operational Excellence

  Operational reliability remained a key focus. Bank's ATM network expanded to 888 machines, achieving 95.37% uptime, while cash availability was maintained at 99.60%. These performance levels underscore Bank's commitment to accessibility, service continuity and infrastructure resilience.

  As Askari Bank reflects on the progress achieved during 2025, it acknowledges the trust and feedback of its customers, partners and stakeholders, which continue to guide its evolution. The year stands as a testament to the Bank's disciplined execution, customer-centric innovation and commitment to sustainable digital growth.

  Agriculture Banking

  Wide range of Products and services under Production and Development agriculture finance are being offered to timely and adequately meet the credit requirements of the agriculture and rural sector.

  Loans are being extended for crops, livestock, farm mechanisation, irrigation & water, tunnel farming, construction of storage facilities, floriculture, poultry, fisheries, orchards, purchase of tractors, refrigerated trucks / pickups, value chains and small farmer loan schemes. Loan facilities under Govt./ SBP Schemes are also offered on subsidised mark-up rate. To streamline and automate the loan application approval process, the Bank has implemented a Loan Origination System (LOS) tailored for its Agri segment.

  Following is the list of Askari Bank's Agri products:

• Askari Kissan Ever Green Finance

• Askari Kissan Tractor Finance

• Askari Kissan Farm Mechanization Finance

• Askari Kissan Aabpashi Finance

• Askari Kissan Transport Finance

• Askari Kissan Livestock Development Finance

• Askari Kissan Green House & Tunnel Finance

• Askari Kissan Farm Storage Finance

• Askari Kissan Gold Fish Finance

• Askari Kissan Murghban Finance

• Askari Kissan White Pearl Finance

• Askari Kissan Samar Bahisht Finance

• Askari Kissan Gulban Finance

• Electronic Warehouse Receipt Financing (EWRF)

• Sahar Agriculture Finance for Female Farmers

Bank has successfully launched of digital platform for Zarkhez-e scheme and is offering discount on purchase of Agri inputs from alliances outlets, i.e. Green Agrimall & HBL Zarai Dera. Bank has also signed MOU with Green Cooperative Livestock Initiatives (GCLI) to promote Livestock in fattening/ rearing business.

Consumer Banking

Consumer banking provides range of financing solutions to cater and meet the Bank's customers' personal financing needs through innovative products and offerings. The Bank keeps in mind customers' needs at every stage of life. To enrich customer experience, the Bank continuously seeks new alliances to provide rich offerings and discounts.

Ijarah Bis Sayyarah

Askari Ijarah Bis Sayyarah is a Shariah-compliant car financing solution for new/used vehicles. It offers competitive floating / fixed rental, flexible repayment plan and quick processing without any hidden charges. The product is offered to the customers (including Women Centric product) for a maximum tenor of 5 years.

Personal Finance

With unmatched financing features in terms of loan amount, payback period and easy monthly instalments, Askari Bank's Personal Finance makes sure that the Bank's customers get the most out of their loans. The product tenor ranges from 1 - 4 years and is designed for salaried individuals and businessmen.

Advance Salary

Askari Bank also offers Advance Salary. It is an instant Personal Loan for short term period without hassle of any formal approval process and disbursement of loan within minutes. This facility is available 24/7 through Askari Internet Banking and Mobile App and can be availed by the employees of approved companies having payroll disbursement arrangement with Askari Bank.

Askari Home Musharakah

Structured under Diminishing Musharakah, the facility enables customers to purchase, construct or renovate homes through a shared ownership model, where Askari Bank leases its share and the customer gradually acquires full ownership through monthly payments combining rent and equity. The premium Home Finance product is offered to customers for a period of up to 20 years. With Askari Home Musharakah, Askari Bank reaffirms its commitment to helping customers achieve their dream of owning a home - with convenience, transparency, and Shariah compliance.

Mastercard Credit Card

Askari Bank offers a competitive suite of Classic, Gold, Platinum, World and Corporate Mastercard Credit Cards that provide superior services, travel privileges, lucrative discount offers, seamless online payment facilities, mobile & WhatsApp banking access along with reward points and transactional alerts through SMS as an enhanced security feature.Customers may also benefit from Flexible Credit Plans (FCP), Extended Payment Plan

(EPP) and Balance Transfer facility (BTF) with or without instalment at discounted mark-up rates.

World Mastercard Credit Card

Askari Bank pioneered Pakistan's first ever "World Mastercard" in collaboration with Mastercard International. This credit card is specifically designed for customers seeking high-class service standards and travel privileges worldwide.

Askari VISA Debit Card

Askari Bank has entered into a strategic alliance with Visa, a leading global payments technology company. As a financial institution, Askari Bank's collaboration with Visa provides a significant boost to its global outreach and lucrative enhancement in the Banks Debit card portfolio suite. This partnership taps into Visa's vast international network, offering Askari Bank an opportunity to expand its footprint across continents and cultures.

Small and Medium Enterprises (SME) Banking

Small and Medium Enterprises are a key driver of economic activity, employment, and entrepreneurship, and supporting this segment remains essential for sustainable economic development. Askari Bank continues to place SMEs at the centre of its growth agenda by improving access to finance through solutions that are practical, flexible, and aligned with how businesses actually operate.

Our country-wide branch network, supported by dedicated credit resources and relationship management teams, allows the Bank to engage closely with SME customers at the ground level and respond to their financing needs in a timely and effective manner.

Supply Chain Finance gained further traction during the year, with the Bank building a meaningful and scalable portfolio to support working capital requirements across value chains. Alongside this, the Bank continued to promote financial inclusion through a dedicated women-focused lending program and expanded outreach under the Banking on Equality initiative, including collaboration with SMEDA to support broader SME development.

At the same time, the Bank progressed on digitisation initiatives aimed at simplifying processes, improving turnaround times, and extending outreach to underserved

businesses, while continuing to provide trade-related financing and advisory support through its branch network.

In addition to regular financing lines, the Bank's SME offering includes the following Product Programs (PPMs):

• Askari Ujala Finance (Renewable Energy)

• Askari Sahar Finance (Women Entrepreneurship)

• Askari Imarat Finance (Infrastructure & Construction)

• Askari Flour Mill Finance (Seasonal Financing)

• Askari Rice Finance (Seasonal Financing)

• Supply Chain Finance (Working Capital)

• Ask Fauri Business Finance (Financing against Liquid Securities)

• Askari Nai Umang (Financing for Special Persons)

• Prime Minister's Youth Business & Agriculture Loan Scheme

• LC - Sight (Import Program) -SME

• Askari Cotton Ginning Finance

• Askari Business Solution ( ABS)

• Askari Fleet Finance

  Islamic Banking

  Islamic Deposit Products

  Askari-Ikhlas Islamic Banking provides its customers with a wide range of Shariah-compliant deposit products, designed to offer flexibility, convenience, and competitive returns. These products cater to diverse financial needs, ensuring that customer can manage their finances in accordance with Islamic principles. Customers can choose from a wide range of deposit solutions, including current accounts, savings accounts, and flexible term deposit options.

  Qard based - Current Accounts

  Designed to meet the dynamic needs of customers, our current accounts provide seamless banking solutions while adhering to Islamic principles. Customers can select from a variety of current account options tailored to meet individual and business requirements. Key products include:

• Askari Islamic Zabardast Current Account (LCY) -With free cheque book, ATM and other services

• Askari Halal Foreign Currency Current Account -Available in USD, GBP, AED and Euro

• Askari Islamic Asaan Current Account - To cater the need of low-income individuals

• Askari Islamic Sahar Current Account - For female customer with free and discounted services

• Askari Islamic Pak-Wattan Account - For the families of overseas Pakistanis

• Askari Islamic Current Account for Pensioners - For the convenience of pensioners

• Askari Islamic Little Champ Account - For minors with free cheque book, ATM and others

• Askari Islamic Basic Banking Account - For low income individuals

• Askari Islamic Sohni Dharti Account - For overseas

  Pakistanis

• Askari Islamic Pro Current Account - For Individuals, Business Enterprises, Govt. Entities.

• Askari Islamic Sahar Foreign Currency Current Account - For female customers.

• Ask Sona Islamic Current Account - For dealers of

  FFCL

  Mudarabah based - Saving Accounts

  For customers seeking secure and predictable returns, our saving deposits offer a Shariah- compliant solution to grow their savings. With monthly returns at market-based saving profit rates and value-added features of free and discounted services. These accounts are perfect for those looking to invest with confidence and integrity.

• Askari Halal Saving Account - With free cheque book, ATM and other services

• AHSAN Account - With free cheque book and ATM Issuance

• AHSAN Pensioners - No minimum balance requirement for Pensioners

• AHSAN Munafa Account - Open for all types of customers monthly profit payments

• Askari Halal US Dollar Savings Account - Monthly profit payment

• Askari Halal Foreign Currency Saving Account (GBP, AED, Euro) - Monthly profit payment for Individuals, Business Enterprises, etc.

• Askari Islamic Asaan Saving Account - No minimum balance requirement for individuals

• Askari Islamic Sahar Saving Account - For female customers with monthly profit payments

  • Ask Sona Islamic Plus Account - For dealers of

    FFCL

  • Askari Islamic Pak Wattan Account - For families of overseas Pakistani

  • Askari Islamic Little Champ Account - For minors (below the age of 18 years)

    Mudarabah based - High Yielding Saving Accounts

    Ideal for profit-conscious customer, these products offer unique blend of high returns and liquidity, ensuring that your savings grow in a Halal and ethical manner. Whether you are an individual or a business, these accounts provide reliable way to maximise your earnings while staying true to your values and faith.

  • AHSAN Munafa Corporate - Attractive monthly profits and multiple free services

  • AHSAN Masrafi - Market based profits for HNWI, IFI's and others

  • AHSAN Pensioners Account - Offer competitive profit rates to the pensioners

  • Ask Sona Islamic Plus Account - Available for dealer of FFCL

  • AHSAN Munafa Pro Account - Attractive Semi Annually profit payments

  • AHSAN Munafa Plus Account - Attractive quarterly profits payments

    Mudarabah based - Term Deposit Accounts

    Askari-Ikhlas provide opportunity to unlock the potential of savings with the Shariah-compliant Islamic Term Deposit Accounts. The customers enjoy competitive profit rates while adhering to Islamic principles. Investments are managed in secured and ethical manner, ensuring peace of mind for our customers. The customer benefit from the flexible terms and grow their wealth the Halal way with the following term deposit product:

  • Askari Islamic Investment Certificates - Flexible profit payment terms

  • Askari Khas Islamic Deposit Account (LCY & FCY) -Available in local and foreign currencies

  • AHSAN Masrafi Certificate of Islamic Investment -Higher return with flexible payment options

  • Askari Islamic Senior Citizen Investment Certificate - With free ATM, Cheque Book and other services

  • Askari Islamic Sahar Investment Certificates -Attractive monthly profit payments for women

• Askari Islamic Golden Pensioners Term Deposit -Higher return with flexible profit payment options for retired and pensioners (Armed forces/ Government/ Private)

  Digital Accounts

  Askari Ikhlas Islamic digital accounts offer a seamless and secure banking experience, enabling our customers to open and manage accounts anytime, anywhere. Key products include:

• Askari Islamic Asaan Digital Account.

• Askari Islamic Asaan Digital Remittance Account.

• Askari Islamic Click Current Account.

• Islamic Exporter Foreign Currency Account (Freelancers)

• Islamic Roshan Digital Accounts

• AKBL-Ikhlas Existing CASA Products

  Islamic Consumer Banking Products

  Askari Ikhlas Islamic Banking provides Shariah compliant solutions for home and vehicle financing, adhering to Islamic principles by avoiding interest (riba) and promoting ethical practices. Our offerings feature flexible payment plans, affordable pricing, and transparent terms, empowering consumers to make informed financial decisions while aligning with their faith. Our products include:

• Askari Ijarah Bis Sayyarah - It provides customers an Islamic leasing solution to get the car of their choice with flexible payment plans and competitive rates.

• Askari Ijarah Bis Sayyarah for women - Offers specialised car financing options designed specifically for women, ensuring equal access to vehicle ownership.

• Askari Home Musharakah - A partnership-based financing option allows customers to purchase, build or renovate a house.

• Askari Sahar Home Musharakah - A partnership-based financing option allows women to purchase, build or renovate a house.

• Askari Islamic Personal Finance (Secured) - It is offered under the Shariah principles of "Shirkat-ul-Milk cum Ijarah-Sale and Lease Back (SLB) to avail cash to fulfill their financial needs.

  • Askari Islamic Consumer Durables Finance - It is offered under the Shariah principles of "Musawamah to Purchase of Shariah permissible Consumer Durable Goods (for personal use).

  • Askari Burq Financing (Solar Financing) - A partnership-based financing option allows customers to install solar system.

    Islamic Corporate, Commercial & SME Financing Facilities

    Askari Ikhlas Islamic Banking offers a comprehensive Corporate, Commercial and SME banking portfolio, developed with a strong risk management strategy to meet diverse financial needs.

    Our Shariah based financing products include:

  • Working Capital Facilities: Running Musharakah, Bai Al Murabahah, Bai Al Musawamah and Finished Goods (Tijarah).

  • Long-Term Finance Options: Diminishing Musharakah and Ijarah.

  • Trade Services: Islamic Trade Financing, Letter of Credit/Guarantee.

  • Other Solutions: Bai Al Salam and Istisna for other financing needs such as over-heads etc.

    Islamic Agriculture Financing Facilities

    The Bank also plays an important role in promoting agriculture development in Pakistan by providing Shariah compliant agriculture financing facilities, contributing to food security, poverty reduction and economic growth, aligning with national development goals of Pakistan by offering;

  • Askari Islamic Tractor, Transport and farm Mechanization Finance

  • Diminishing Musharakah for Agriculture Financing

  • Electronic Warehouse Receipt (Islamic)

    Islamic Trade Financing Facilities

    The Bank also plays an important role in promoting trade business in Pakistan by providing financing facilities under the Shariah Principles by offering:

• Islamic Rupee Based Bill Discounting - Available under mode of Murabahah, Istisn'a, Salam & Running Musharakah.

• Import Financing - Available under Murabahah, Diminishing Musharakah and Ijarah.

• Export Financing - Available under Murabahah, Istisna, Tijarah-FG Financing, Salam, RM etc.

  SBP Schemes

  The bank also offers Islamic Banking solutions for the SBP refinance and subsidy schemes to its customers through:

• Islamic Long-Term Financing Facility for Plant and Machinery (ILTFF)

• Prime Minister's Youth Business and Agriculture Loan Scheme (PMYB & ALs)

• Islamic Export Refinance Facility (IERF)

• EXIM-Administrated Islamic Export Finance Scheme (E-IEFS Exim Bank) - Available under Murabahah, Istisna, Salam and Running Musharakah

• Fan Replacement Program

• Cost Sharing Scheme for Electric Bikes and Rickshaws/Loaders

DIGITAL SNAPSHOT

All-New Askari App

Revamped UI/UX for faster, smarter banking

4.8

rating on

Google Play

Click Account

Fully digital, paperless, branchless onboarding

Askari Edge

Enhanced journeys, smarter engagement

Digital-First

Products

Digital Lockers | Instant Cheque Services

1 Million+

active users

1S3,OOO+

users and growing

Industry First

Secure In-App Calling via Askari App

Beyond Banking

DHAI Smart Home App

DSS

Secure by Desig n

ISO/IEC 27OO1 | PCI

DSS | SWIFT Certified

Financial Inclusion

Expanding access

for women & Gen-Z

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19

NOTICE OF THE 34TH

ANNUAL GENERAL MEETING

Notice is hereby given that the 34th Annual General Meeting (AGM) of the shareholders of Askari Bank Limited ("the Bank") will be held on Tuesday, March 17, 2026 at 10:00 am at Shamadan Hall, Serena Hotel, Islamabad and through Zoom to transact the following business:

Ordinary Business:

1. To confirm the minutes of the 33rd Annual General Meeting held on March 24, 2025.

2. To receive, consider and, if thought fit, adopt the Annual Audited Financial Statements (consolidated and unconsolidated), Statement of Compliance with the Listed Companies (Code of Corporate Governance) Regulations, 2019 of the Bank for the year ended December 31, 2025 together with Chairman's Review Report, Directors' Report and Auditors' Reports thereon.

   As required under Section 223(6) of the Companies Act, 2017 (the "Act"), and pursuant to SRO 389(1)/2023 dated March 21, 2023, the Annual Report of the Bank has been uploaded on the website of the Bank which can

   be downloaded from the following weblink or QR enabled code:

   Weblink:https://askaribank.com/investor-relations/financial-highlights

1. To approve, as recommended by the Board of Directors, payment of final cash dividend at Rs. 1.75/- per share,

   i.e. 17.50% for the financial year ended December 31, 2025. This is in addition to the Interim Cash Dividends already paid at Rs. 3.25/- per share i.e. 32.50%.

2. To appoint statutory auditors for the year ending December 31, 2026 and to fix their remuneration.

   The present auditors of the Bank, M/s A. F. Ferguson & Co., Chartered Accountants, being eligible, have offered themselves for re-appointment. The Board Audit Committee has proposed re-appointment of M/s A. F. Ferguson & Co, Chartered Accountants, as auditor of the Bank to hold office from this AGM till the conclusion of the next AGM of the Bank for the year ending December 31, 2026 which is recommended by the Board of Directors.

3. To elect 10 Directors as per the number fixed by the Board of Directors of the Bank under Section 159 (1) of the Companies Act 2017 (the Act) for a period of next three years commencing from March 17, 2026. The total strength of Board of Directors shall be 11 including President & Chief Executive Officer of the Bank, being a deemed Director under Section 188 (3) of the Act. The following are the names of the retiring Directors, who are eligible for re-election:

   1. Lt Gen Anwar Ali Hyder, HI (M) (Retd) - Chairman	6. Mr. Manzoor Ahmed - NIT Nominee
   2. Mr. Jahangir Piracha	7. Mr. Kamran Yousuf Mirza
   3. Maj Gen Muhammad Zafar Iqbal, HI (M) (Retd)	8. Ms. Samina Rizwan
   4. Syed Bakhtiyar Kazmi	9. Ms. Vadiyya Khalil
   5. Mr. Khurshid Zafar	10. Raja Muhammad Abbas

   Any Other Business:

4. To consider any other business as may be placed before the meeting, with the permission of the chair.

By Order of the Board

Rawalpindi Syed Ali Safdar Naqvi

February 24, 2026 Company Secretary

NOTES:

1. Shareholders interested in attending the AGM through electronic/virtual means and whose names appeared in the Books of the Bank by the close of business on March 09, 2026 are hereby advised to get themselves registered with the Bank by providing their Name, CNIC Number, Folio/ CDS Account Number, Number of Shares held, Mobile Numbers (active) and Email address in their names with subject "Registration for 34th AGM of AKBL" at ir@askaribank.com.pk. Zoom Link to join the 34th AGM will be shared with only those shareholders from whom all required particulars, are received at the given email address at least 48 hours before the time of holding the AGM.

2. The Share Transfer books of the Bank will remain closed from March 10, 2026 to March 17, 2026 (both days inclusive). Transfers received at the Bank's Share Registrar Department, CDC Share Registrar Services Limited, Mezzanine Floor, South Tower, LSE Plaza, 19-Khayaban-e-Aiwan-e-Iqbal, Lahore and Share Transfer Office of the Bank at the close of the business hours on March 9, 2026 will be treated in time.

3. A member entitled to attend and vote at the meeting can appoint a proxy to attend and vote for him. No person shall act as a proxy, who is not a member of the Bank except that Government of Pakistan [GoP] or SBP or corporate entity may appoint a person who is not a member.

4. The instrument appointing a proxy should be signed by the member or his/her attorney duly authorized in writing. If the member is a corporate entity (other than GoP and SBP), certified true copy of the instrument authorizing the person to act as proxy shall be provided.

5. The instrument appointing a proxy, together with attested copy of Power of Attorney or Board Resolution, if any, under which it is signed or a certified copy should be deposited, with the Company Secretary, Askari Bank Limited, 4th Floor, NPT Building, F-8 Markaz, Islamabad at least 48 hours before the time of holding the meeting.

6. If a member appoints more than one proxy, and more than one instrument of proxy is deposited by a member, all such instruments shall be treated invalid. The proxy form shall be witnessed by two persons whose names, addresses and Computerized National Identity Card (CNIC) numbers shall be mentioned on the form.

7. Copy of the CNIC or passport of the beneficial owners shall be furnished with the proxy form. The proxy shall produce their original CNIC or original passport at the time of attending the meeting.

8. In case of individual member, original CNIC or original passport while for the CDC account holder or sub-account holder and for the person whose securities are in group account and their registration details are uploaded as per the regulations, his / her authentication would be made by showing his / her original CNIC or original passport along with participant(s) ID Number and their account numbers. In case of GoP/SBP/ corporate entity, the Board of Directors' resolution/ power of attorney with specimen signature shall be submitted along with proxy form to the Bank.

9. The current prescribed rates for the deduction of withholding tax under Section 150 of the Income Tax Ordinance, 2001 for the payment of dividend paid by the Bank are as under:

   1. Persons appearing in Active

      Tax Payer List 15 %

   2. Persons not appearing in Active

      Tax Payer List 30 %

      The income tax is deducted from the payment of dividend according to the Active Tax-Payers List (ATL) provided on the website of FBR. All those members who are filers of income tax returns are therefore advised to ensure that their names are entered into ATL to enable the Bank to withhold income tax from payment of cash dividend @ 15% instead of 30%.

      According to Federal Board of Revenue (FBR), withholding tax will be determined separately on 'Filer/Non-Filer' status of Principal Shareholder as well as Joint-Holder(s) based on their shareholding proportions in case of joint accounts held by the shareholders.

      		Principal Sh	areholder	Joint Shar	eholder
      Folio/	Total	Name of	Shareholding	Name of	Shareholding	Signature
      CDC	Shareholding	Shareholder	Proportion	Joint	Proportion
      Account		& CNIC No.	(No. of	Shareholder	(No. of
      No.			Shares)	& CNIC No.	shares)

      In this regard all Shareholders who hold shares jointly are requested to provide the shareholding proportions of Principal Shareholder and Joint-Holder(s) in respect of shares held by them to our Share Registrar M/s. CDC Share Registrar Services Limited in writing as follows:

      The required information must reach to Share Registrar by March 9, 2026 otherwise it will be assumed that the shares are equally held.

      Special Notes to the Shareholders

10. Submission of Copies of CNIC (Mandatory)

    As per SECP's directives, the payment of dividend to the shareholders whose CNICs are not available with the Share Registrar are being withheld. All shareholders having physical shareholding are, therefore, advised to submit a photocopy of their valid CNICs to our Share Registrar. In case of non-receipt of information, the Bank will be constrained to withhold payment of dividend to shareholders.

    A printed copy of notice in English & Urdu language for submission of photocopy of valid CNIC has been dispatched along with notice of 34th AGM to all shareholders of the Bank, whose photocopy of valid CNIC is not available with the Bank's Share Registrar.

11. Payment of Cash Dividend Electronically (e-Dividend)

    Section 242 of Companies Act, 2017, requires that in case of a listed company, any dividend payable in cash shall only be paid through electronic mode directly into the bank account (International Bank Account Number-IBAN) designated by the entitled shareholders. Provision of IBAN for cash dividend payments is mandatory and in order to comply with this regulatory requirement of direct credit of dividend amount in shareholder's IBAN, shareholders are requested to provide relevant information to:

    1. Their respective CDC Participant/CDC Investor Account Services (in case their shareholding is in Book Entry Form) OR

    2. Share Registrar M/s. CDC Share Registrar Services Limited, Mezzanine Floor, South Tower, LSE Plaza, 19-Khayaban-e-Aiwan-e-Iqbal, Lahore (in case their shareholding is in Physical Form).

12. Unclaimed/Unpaid Dividend and Bonus Shares

    Shareholders of the Bank are hereby informed that as per the record, there are many unclaimed/ uncollected / unpaid dividends and shares; details whereof are appearing on the Bank's website https://www.askaribank.com. As per the provisions of section 244 of the Companies Act, 2017, any

    shares issued or dividend declared by the Bank which have remained unclaimed/unpaid for a period of three years from the date on which it was due and payable, are required to be deposited with SECP to the credit of Federal Government after issuance of notices to the shareholders to file their claim. Shareholders are requested to ensure that their claims for unclaimed dividend and shares are lodged promptly. In case, no claim is lodged, the Bank shall proceed to deposit the unclaimed/unpaid amount and shares with the Federal Government pursuant to the provision of Section 244(2) of Companies Act, 2017.

13. Transmission of Audited Financial Statements & Notices to Shareholders

    Annual Audited Financial Statements of the Bank for the year ended December 31, 2025 have been placed on the Bank's website which can be accessed/downloaded from the following link and QR code:

    https://askaribank.com/investor-relations/financial-highlights

The Annual Audited Financial Statements along with the reports and notice of 34th AGM are being sent to members who have provided their email addresses. In addition, physical copies of Annual Report 2025 have also been dispatched to Shareholders as per their demand.

1. Consent for Video Conference Facility

   Pursuant to Section 132 (2) of the Companies Act, 2017, shareholders may avail video conference facility to attend 34th AGM provided the Bank receives consent from the shareholders holding aggregate 10% or more shareholding at least seven days prior to the date of the meeting. Please fill the following form and submit its signed copy to the Company Secretary, Askari Bank Limited, 4th Floor, NPT Building, F-8 Markaz, Islamabad or email signed form at ir@askaribank.com.pk:

   I/We, ---------------- of -------------------- being a

   Member of Askari Bank Limited, holder of -------

   -- Ordinary Share(s) as per Registered Folio No/ CDC Sub-Account No hereby opt for video

   conference facility at --.

   Signature of member

2. Deposit of Physical Shares into Central Depository System

   As per Section 72 of the Companies Act, 2017, all listed Companies are required to replace shares issued by them in physical form to book-entry form within four years of the promulgation of the Act.

   Accordingly, all shareholders of the Bank having physical folios/share certificates are requested to convert their shares into book-entry form at the earliest. Maintaining shares in book-entry form will make the process of share handling more efficient and risk-free. Further, this will facilitate shareholders in safe custody of shares with the CDC, instant credit of entitlements (bonus shares and rights share), eliminate the risk of loss; and readily available for sale/purchase in the open market etc. The shareholders may contact the Share Registrar of the Bank at address, M/s. CDC Share Registrar Services Limited, Mezzanine Floor, South Tower, LSE Plaza, 19-Khayaban-e-Aiwan-e-Iqbal, Lahore.

3. Change of Address / Particulars

   Shareholders having physical shares are requested to immediately notify any change in their addresses to the Bank's Shares Registrar, M/s. CDC Share Registrar Services Limited, Mezzanine Floor, South Tower, LSE Plaza, 19-Khayaban-e-Aiwan-e-Iqbal, Lahore. Whereas, CDC account holders are requested to please contact their respective CDC Participant / Broker / Investor Account Services. To facilitate the shareholders, a Form for Change of Particulars of Shareholders has been made available on the website of the Bank.

4. Zakat Declaration (CZ-50)

   Zakat will be deducted from the dividends at source at the rate of 2.5 % of the paid-up value of the share (Rs. 10/- each) and will be deposited within the prescribed period with the relevant authority. In case of claiming exemption, please submit your Zakat Declaration to the Share Registrar mentioning Askari Bank's name and respective Folio and CDC Account Nos.

5. Appointment of Scrutinizer

   In accordance with regulation 11 of the Companies (Postal Ballot) Regulation, 2018 (the Regulation), for the purpose of conducting and supervising the voting process as defined in regulation 11A of

   the Regulation in connection with the election of Directors at the AGM, the Board of Directors has appointed M/s. A. F. Ferguson & Co., Chartered Accountants as Scrutinizer. The firm is also the statutory auditors of the Bank and is duly qualified in terms of section 247 of the Companies Act, 2017 and holds a satisfactory Quality Control Review (QCR) rating from the Institute of Chartered Accountants of Pakistan (ICAP). The Scrutinizer possesses the necessary knowledge and experience to independently scrutinize the voting process in accordance with the applicable legal requirements.

6. Conduct of Shareholders in the meeting

   Shareholders are requested to observe the conduct referred in sub-regulation 2 of Regulation

   55 of the Companies Regulations, 2024 while attending the meeting.

7. Restriction on distribution of gifts

   In accordance with the directive issued by the SECP vide its SRO 452(I)/2025 dated March 17, 2025, the Bank would like to inform all the shareholders that no gifts will be distributed at the meeting.

8. Postal Ballot/E-voting

In accordance with the Companies (Postal Ballot) Regulations, 2018, Section 143 and 144 of the Companies Act 2017 and under Postal Ballot Regulation, 2018, latest amendments circulated through SROs dated March 13, 2025 & April 04, 2025, SECP have directed all listed companies for the purpose of Polling on Election of Directors, if the number of persons who offer themselves to be elected is more than the number of directors fixed under sub-section (1) of Section 159 of the Act. Shareholders will be allowed to exercise their right to vote through postal ballot i.e. by post or e-voting, in the manner and subject to the conditions contained in the aforesaid regulations. Details will be circulated in due course of time.

Procedure for Election of Directors

Any member desirous to contest the election of Directors shall file the following with Company Secretary, Askari Bank Limited, 4th Floor, NPT Building, F-8 Markaz, Islamabad, not later than 14 days before the day of the 34th AGM:

1. Notice of his/her intention to offer him/ herself for the election to the office of director in terms of Section 159(3) of the Companies Act, 2017 (the Act).

2. Detail profile along with office address as required under SECP's SRO 1196 (I) 2019 dated October 3, 2019.

3. Declaration under Regulation 3 of the Listed Companies (Code of Corporate Governance) Regulations 2019 and Section 155 of the Act.

4. Declaration that he/she is not ineligible to become a director of the Bank in terms of Section 153 and 177 of the Act. Neither he/she nor his/her spouse is engaged in the business of brokerage or is a sponsor, director or officer of a corporate brokerage house.

5. Fit and Proper Test Proforma, Affidavit, Declarations, and Questionnaire as provided in "Corporate Governance Regulatory Framework" issued by State Bank of Pakistan (SBP) vide BPRD Circular No. 5 dated November 22, 2021.

6. Manner and selection of independent director shall be as per requirements of Section 166 of the Act. Furthermore, a declaration of Independence in terms of Section 166(2) of the Act will be required under clause 6(3) of Listed Companies (Code of Corporate Governance) Regulations, 2019 and SBP's Corporate Governance Regulatory Framework 2021.

7. An independent director must be holding 500 qualification shares of the Bank at the time of filing of his/her consent to act as director.

In terms of the criteria prescribed by SBP, a person shall not be eligible to become a Director of a Bank, if the person:

1. is disqualified/ineligible under Banking Companies Ordinance 1962, Companies Act 2017, and other applicable laws, rules and regulations.

2. is in default of payment of dues owed to any financial institution in personal capacity.

3. is associated as executive director/sponsor director/nominee of the sponsor and/or President & CEO of a proprietary concern, partnership

   firm, or corporate body excluding public sector organization, which is in default of dues owed to any financial institution.

4. has contravened any of the requirements and standards of SBP or equivalent standards/ requirements of other local or foreign regulatory authorities, professional bodies, or government bodies/agencies of such a nature that makes such person's association with the bank / DFI undesirable.

5. is a designated person/proscribed person or is associated directly or indirectly with any designated person/proscribed person.

6. is convicted of or is associated directly or indirectly with any person convicted of any serious offence, including any Money Laundering/ Terrorism Financing offence or any predicate offence set out in Schedule I of the Anti-Money Laundering Act, 2010.

It should also be noted that under SBP directives, a person is not permitted to be a Director of more than one financial institution except nominee National Investment Trust, and the Directors will not assume the charge of their respective offices until their appointments are approved in writing by SBP.

Statement Under Section 166(3) of the Companies Act, 2017

Agenda Item No. 5

Election of Independent Directors

Any person who is eligible under section 153 and meets the criteria under Section 166(2) of the Companies Act, 2017 and the Companies (Manner and Selection of Independent Directors) Regulations 2018, may submit a nomination to be elected as an independent director. However, it is noteworthy to mention here that independent directors shall be elected in the same manner as other directors are elected in terms of section 159 of the Companies Act, 2017 to meet the requirements of Corporate Governance. Final list of the contesting directors will be published in Newspapers not later than seven days before the date of the said meeting in terms of section 159(4). Further, the website of the Bank will also be updated with the required information for each Director.

The present Directors are interested in the Ordinary Business to the extent that they are eligible for re-election as Directors of the Bank.

PROFILE OF DIRECTORS

Lt Gen Anwar Ali Hyder, HI(M) (Retd)

Strategic Leader | Former Federal Minister

Defence & Development Executive | Infrastructure & Institutional Reformer

Lieutenant General Anwar Ali Hyder (Retired) is a distinguished national leader and seasoned executive with over four decades of experience across defence, public administration, corporate governance, and development sectors. He currently serves as Chairman of the Fauji Group of Companies and Managing Director/CEO of Fauji Foundation, where he leads strategic direction, institutional growth, and stakeholder engagement across one of Pakistan's largest business and welfare conglomerates.

Prior to this role, he served as Federal Minister for Defence and Defence Production in the 2023-24 interim cabinet and was a member of the Apex Committee of the Special Investment Facilitation Council (SIFC), where he played a pivotal role in advancing investment and economic reform.

He also led the Naya Pakistan Housing and Development Authority (NAPHDA) as Chairman, driving large-scale affordable housing initiatives through policy reform and public-private partnerships. His leadership has extended to academia, serving on the Boards of NUST, NUMS, and NUTECH, and as President of the National Defence University.

His military career culminated as Adjutant General and Principal Staff Officer to the Chief of Army Staff, with key responsibilities in welfare, policy, discipline and housing programs.

General Hyder holds a Master's degree in Strategic Studies from the U.S. Army War College and an MSc in War Studies from NDU, Islamabad. He has been honored with the Hilal-e-Imtiaz (Military) and the Chief of Army Staff Commendation Card for his exemplary service.

Known for his strategic foresight, institutional leadership, and commitment to national development, Lieutenant General Hyder brings unmatched cross-sectoral experience to every role he undertakes.

Term of Office

Joined the Board of Directors on April 05, 2024.

Status

Non-Executive Director & Chairman

Membership of Board Committees

None

Other Directorships

• Fauji Fertilizer Company Limited

• Fauji Cement Company Limited

• Mari Energies Limited

• Fauji Foods Limited

• Agritech Limited

• Pakistan Maroc Phosphore SA

• Daharki Power Holdings Limited

• Fauji Akbar Portia Marine Terminals Limited

• Fauji Fresh n Freeze Limited

• Fauji Kabirwala Power Company Limited

• Fauji Oil Terminal & Distribution Company Limited

• Fauji Trans Terminal Limited

• Foundation Power Company Daharki Limited

• Foundation Solar Energy Limited

• Fauji Meat Limited

• FonGrow (Private) Limited

• FFBL Power Company Limited

• Mari Mining Company (Private) Limited

• Mari Technologies Limited

• SKY47 Limited

• MedAsk (Private) Limited

• FonGreens (Private) Limited

• Fongreens Silicon Technologies Limited

• Eastridge Primecare (Private) Limited

• Foundation University Islamabad

  
  
  

  Mr. Jahangir Piracha

  Non-Executive Director

  With over three decades of experience, Jahangir Piracha has built a career dedicated to leading and transforming some of Pakistan's most influential companies in chemicals, energy, and agri business. Currently serving as the Managing Director and CEO of FFC Ltd. Jahangir is focused on driving growth and innovation while supporting Pakistan's agricultural development and food security. Jahangir's journey includes CEO roles at Engro Polymer & Chemicals Ltd., Engro Vopak & Elengy Terminal Ltd., and Engro Powergen Qadirpur Ltd., where he gained a deep understanding of commercial, manufacturing, human resources, finance and supply chain management. These diverse roles shaped his approach to leadership, emphasizing the importance of viewing challenges from multiple perspectives and balancing immediate needs with a long-term vision.

  Beyond his executive roles, Jahangir is serving on multiple boards, where he has played a key role in decisions impacting the future of energy, infrastructure, and community support across Pakistan. His commitment to sustainability, inclusion, and adaptive growth is evident in the initiatives he supports and the teams he builds.

  A Chemical Engineering graduate from the University of Engineering and Technology, Lahore, Jahangir also completed the Advanced Management Program from INSEAD, Fontainebleau, France. His formal education laid a strong foundation, but his leadership style has been shaped by decades of hands-on experience and a dedication to creating positive, lasting change. Known for his commitment to diversity, equity, and inclusion, as well as his advocacy for digital transformation, Jahangir continues to lead with purpose, building organizations that are resilient, agile, and prepared for the future.

  Term of Office

  Joined the Board of Directors on April 05, 2024.

  Status

  Non-Executive Director

  Membership of Board Committees

  Audit Committee

  Human Resource & Remuneration Committee

  Other Directorships

• Fauji Fertilizer Company Limited

• Fauji Foods Limited

• Agritech Limited

• FFBL Power Company Limited

• OLIVE Technical Services (Pvt) Ltd

• FFC Energy Limited

• Foundation Wind Energy - I Ltd

• Foundation Wind Energy - II Ltd

• Foundation University Islamabad

• Thar Energy Limited

• Fauji Meat Limited

• Pakistan Maroc Phosphore SA

• International Fertilizer Association (IFA) - Board and Executive Board

• Fauji Fresh n Freeze Limited

• Sona Welfare Foundation

• Food Security and Agriculture Center of Excellence

  
  
  

  Maj Gen Muhammad Zafar Iqbal, HI (M) (Retd)

  Non-Executive Director

  Maj Gen Muhammad Zafar Iqbal is renowned for his seasoned operational and combat leadership at various pedestals and tiers in military for almost thirty-nine years. He has been appointed as Director Health in Welfare Branch of Fauji Foundation in Aug 2024. During his previous service, he has held various challenging command, staff, and instructional assignments.

  He has commanded an Armoured regiment and an Armoured Brigade, Infantry Brigade in combat in South Waziristan and Khyber Agency, Armoured and Mechanized Armoured Divisions at peace locations, where his formations excelled in training, combat efficiency and operational preparedness. He has held appointments of Director General Logistics and Logistics Area Commander where he planned and executed entire military logistics of Pakistan Army. His Passion for logistics has grown ever since.

  He has been on the Instructional panel of coveted Command and Staff College Quetta where he trained the senior leadership.

  He has participated in an observer mission of United Nations in Western Sahara, Africa. He has also remained involved in an active military diplomacy as Defense Attaché at Embassy of Pakistan, Kiev, Ukraine. He has also remained as personal staff officer with the Chief Executive and President of Pakistan for two years.

  He besides completing military education at various tiers has completed master's in International Affairs and Pakistan Studies, MPhil in Public Policy and Strategic Security Management. He is presently a PhD Scholar of Management Sciences with his thesis focusing on China Pakistan Economic Corridor and Special Economic Zones.

  Term of Office

  Joined the Board of Directors on March 21, 2025.

  Status

  Non-Executive Director

  Membership of Board Committees

• Risk Management Committee

• Information Technology Committee

  Other Directorship

• FFBL Power Company Limited

• FFC Energy Company Limited

• MedAsk (Pvt) Limited

• Eastridge Primecare (Pvt) Hospital

• Foundation University Islamabad

  
  
  

  Syed Bakhtiyar Kazmi

  Non-Executive Director

  Mr. Kazmi is a fellow chartered accountant with over 35 years of experience in a diverse range of sectorial and functional strata within national and regional economies. The key areas of his specialization are greenfield and brownfield projects, strategic collaborations, mergers and acquisitions, accounting and finance, strategic level audit and assurance and tax reforms and strategic level advisory.

  Term of Office

  Joined the Board of Directors on March 26, 2024.

  Status

  Non-Executive Director

  Membership of Board Committees

  • Audit Committee

  • Risk Management Committee

  • Information Technology Committee

    Other Directorships

    He holds the directorships on the Boards of other companies along with AKBL; some of which are as follows:

• Fauji Fertilizer Company Limited

• Fauji Cement Company Limited

• Mari Energies Limited

• Fauji Foods Limited

• Hub Power Company Limited

• Agritech Limited

• Fauji Fresh n Freeze Limited

• Fauji Akbar Portia Marine Terminals Limited

• Fauji Oil Terminal and Distribution Company Ltd

• Foundation Power Company Daharki Limited

• FFC Energy Limited

• Mari Technologies Limited

• Sky47 Limited

• HBL Zarai Services Limited