Transmission of Annual Report for the Year Ended 2025

Company Information

Mr. Ijaz Nisar (Chairman)

Mr. Rasikh Elahi (Chief Executive Officer) Mr. Abid Sattar

Mr. Aurangzeb Firoz Dr. Farzana Firoz Mr. Shabbi Zahid Ali

Syed Kashif ul Hassan Shah

Syed Kashif ul Hassan Shah (Chairman) Mr. Abid Sattar (Member)

Mr. Shabbi Zahid Ali (Member)

Mr. Ijaz Nisar (Chairman)

Mr. Rasikh Elahi (Member)

Mr. Shabbi Zahid Ali (Member)

Mr. Humza Chaudhry

Mr. Hashim Tariq

Mr. Usman Yousaf

Corplink (Pvt.) Ltd.

Wings Arcade, 1- K Commercial, Model Town, Lahore

Riaz Ahmad & Company Chartered Accountants

Al-Baraka Bank (Pakistan) Limited Bank Islamic Pakistan Limited

Dubai Islamic Bank Pakistan Limited Faysal Bank Limited

MCB Islamic Bank Limited

First Habib Modaraba OLP Modaraba

Askari Bank Limited Allied Bank Limited Habib Bank Limited

Habib Metropolitan Bank Limited JS Bank Limited

MCB Bank Limited National Bank of Pakistan Silk Bank Limited

The Bank of Punjab

OLP Financial Services Pakistan Limited Apna Micro Finance Bank Limited

Mobi link Micro Finance Bank Limited Khushhali Micro Finance Bank Limited

182 Abu Bakar Block,

New Garden Town, Lahore Ph: +92-42- 111 666 647

Fax: +92-423-5845525

Email: info@at-tahur.com Web: https://www.at-tahur.com

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About At-Tohur

Inspired by the Arabic word "Tohur", which literally translated means "Purity".

At-Tohur Limited since its inception in 2007. has strived to provide its consumers with dairy products the way nature intended them to be. It is 100% natural, pure & fresh. Premo is the only milk in pokiston that is free from all kind of additives, preservatives and growth hormones making it completely traceable from gross to gloss.

At-Tohur's Commitment to quality is evidenced by the fact thot premo has been conferred "Brand of the year" for two consecutive years ( 2019, 2020).

Vision

To be the best customer brand on account of superior quality.

Mission

Our Mission is to manufacture and process world class, pure, natural and healthy products of immaculate quality.

Production & Processing

TRANSPARENCY

COHES

In order to set the highest standards in purity, hygiene and nourishment, Premo is produced in state-of-the-art dairy facilities. untouched by human hands. Premo milk is posteurized, homogenized and packed usinga fully integrated and internationally compliant Cow-to-Consumer process.

O

Retoil Operotions

Islamabad

Affock Wah Contf Rowolpindi Jehlum Gujrof

Jololpur Jotton

Phalia

Kotlo Lahore Chiniot Foisolobod Joronwolo

Toba Tek Singh

Gojro Jhong Sohiwol Okoro

Abbottobod Mongoro Mordon Nowshero Peshawar Swabi

Kohot

Bonnu

Mandi Bohouddin

Kunjoh Sorgodho Gokhor Mandi Molisi Sheikhupuro Shohdoro Muridke Sodhoke

Pottoki Muzofforobod

Hujro Shah Muqeem Bogh

Renolo Dheerkot

Depolpur Rowolkot

Pokpotton Irjo

Vehori Mirpur

Bure Wolo Qadirobad

Arif Wolo

Mutton

Kamoke Shoroqpur Gujronwolo Wozirobod Daska Sambriol Siolkot

Mion Chonnu Bohowolpur Lodhron

Malam Jabba

Swat

Sukkur Hyderabad Karachi

Bolochiston Quetto

Premo hasa market footprint across Pakistan, from Khyber to Karachi

Milk Ronge

Ecolean Whole Milk

Whole Milk

Ecolean Low Faf Milk

Badom Zofron Milk

Chocolate Milk

Strawberry Milk

Prema Milk delivers purity and freshness in every pack, available in Whole Milk Box, Ecolean Whole Milk, and Ecolean Low Fat Milk.

Alongside, the delightful Flavored Milk range comes in Chocolate, Strawberry,

and Badam Zafran, offeringa perfect blend of taste and energy.

Natural Yogurt

Sweet Yogurt

Low FOt Yogurt

Pouch Yogurt

Made from pure, fresh milk, Premo Yogurt is completely gelatin-free and comes in four varieties: Natural, Sweet, Low Fat, and Pouch Yogurt. With its rich taste and trusted quality, it's a wholesome choice for every household.

Sfrawberry Yogurt

Mango Yogurt

Flovored Yogurt

Vanilla Yogurt

Banana Yogurt

Premo Flavored Yogurt combines creamy goodness with irresistible taste, available in Mango, Strawberry, Vanilla, and Banana flavors. Smooth, refreshing, and wholesome, it'sa delicious treat for all ages.

Chunky Yogurt

Strawberry Chunky

Blueberry Chunky

Peach Chunky

Premo Chunkies bring a delightful twist to yogurt with real fruit pieces, available in Blueberry Chunky, Strawberry Chunky, and Peach Chunky.

Greek Yogurt

Prospecfive Producfs

Greek Yogurt

Blueberry Greek

Strawberry Greek

Thick, smooth, and nourishing, Premo Greek Yogurt will be available in flovored variants such as Blueberry Greek Yogurt and Strawberry Greek Yogurt.

Butter

Bufter

Made from the finest milk, Premo Butter is rich, creamy, and deliciously smooth. It's perfect for spreading on bread, enhancing the flavor of baked goods, or adding richness to your favorite dishes.

Desi Ghee

Desi Ghee

Premo Desi Ghee brings you the authentic taste of purity. With its natural aroma, it adds depth and richness to meals, making every dish wholesome and flavorful.

Creom Cheese

Cream Cheese

Cottoge Cheese

Cottage Cheese

Prospective Producf

Premo Cream Cheese is smooth, creamy, and versatile, making it perfect

for everyday use. Premo Cottage Cheesea, prospective product, is fresh,

protein-rich, and naturally wholesome.

Noturol Honey

Acacia Honey

Clover Honey

Pure and natural, Premo Honey is packed with goodness and flavor. Available in Acacia Honey, known for its light taste and clarity, and Clover Honey, witha smooth, floral sweetness, it's a healthy and delicious addition to everyday life.

Eggs

Pack Of i2 Eggs

Whife Eggs

Brown Eggs

Omega 3 Eggs

Pack Of 30 Eggs

White Eggs

Brown Eggs

Omega 3 Eggs

Premo offers farm-fresh quality eggs with the best nutrition and taste. Available in White Eggs, Brown Eggs, and Omega-3 Eggs, each range comes in convenient packs of 12 and 30, ensuring freshness and healthy goodness for every household.

Conolo Oil

Prospective Products

Premo Conolo Oil isa pure, healthy, and light cooking choice, packed with essential nutrients anda neutral taste thot suits every recipe. It will be available in 1 Litre, 3 Litre, 4.5 Litre, 10 Litre, 16 Litre, Pack of 5 (1 Litre),

Pack of 6 bottles (3 Litre), and Pack of 4 bottles (4.5 Litre).

AT-TAHUR LIMITED

Chairman's Message

On behalf of the Board of Directors, I am pleased to present the Annual Report for the year ending June 30, 2025. At-Tahur Limited (PSX: PREMA) remains dedicated to upholding the highest standards of corporate governance. During the year, business faced external challenges, most notably the increase in sales tax on pasteurized and non-pasteurized milk, despite this, I am pleased to report a remarkable 49.52% increase in profit after taxation, reflecting the company's strong focus on operational efficiency, prudent cost management, and product mix optimization.

Our goal is to drive robust business growth through the continuous expansion of our product lines. The company has made significant investments in enhancing processing facilities and optimizing all downstream channels to achieve maximum efficiency. With a strong focus on nutrition and an unwavering commitment to product quality, we aim to create a positive impact on consumers.

As pioneers in the pasteurized dairy sector, we have set high standards for quality and customer care by offering fresh, pure, and nourishing products that promote the well-being of our customers. In recognition of these efforts, At-Tahur Limited has been honored with the "Brand of the Year Award" for two consecutive years (2019 and 2020) in the Fastest Growing Brand in Milk & Yogurt category by The Brands Foundation FPCCI.

The testimony of company's focus on quality is best described by an independent market audit, conducted under the orders and aegis of Honorable Supreme Court of Pakistan. The finding of the commission was;

Supreme Court of Pakistan proceeding 2016 Reference: "Civil Petition No. 2374-L/2016 and C.M.A.NO.2702-L/2016"

Pursuant to the updated Code of Corporate Governance, the company is trying to ensure full compliance. These steps will surely contribute to board development, remuneration processes, accountability and audit, and relations with our valued shareholders.

On behalf of the Board of Directors, I would like to extend our sincere gratitude to all our stakeholders for their ongoing support and encouragement. I also want to acknowledge and commend the dedication and hard work of our employees, whose contributions are invaluable to the company. My heartfelt thanks also go to my fellow directors for their commitment and the vital role they play in driving the company's growth.

Additionally, I wish to express our deep appreciation to our valued customers and consumers, whose trust in our products remains a key factor in our continued success.

As we look ahead, I am confident that our unwavering commitment and dedication will propel us to even greater achievements in the coming years, ensuring continued success for our stakeholders.

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AT-TAHUR LIMITED

Directors' Report

On behalf of the Board of Directors of the Company, it gives me immense pleasure to present the Annual Report of the Company for the year ended 30th June 2025 together with the audited financial statements for the year in accordance with the accounting, regulatory and legal standards and requirements.

The macroeconomic environment of Pakistan during FY2025 was characterized by signs of stabilization and gradual recovery. The economy recorded a GDP growth of 2.68%, driven by the industrial (4.77%) and services (2.91%) sectors, while agriculture grew modestly at 0.56% due to significant declines in important crops.

Notably, inflation fell sharply from last year's highs to an average of 4.7%, the lowest in six decades, supported by monetary tightening, exchange rate stability, and improved supply conditions. The external sector strengthened, with the current account recording a US$1.9 billion surplus, remittances rising by 31% to US$31.2 billion, and foreign exchange reserves reaching US$16.6 billion. Pakistan's sovereign credit rating was upgraded by Fitch to B-(Stable), reflecting renewed investor confidence.

For the agriculture and livestock sector, livestock remained the primary growth driver, expanding by 4.72%, contributing 63.6% of agriculture's value addition and 14.97% to GDP. Milk production reached 72.34 million tonnes (up 3.2%), meat output rose to 5.97 million tonnes, and egg production expected to climbed to 26.7 billion units, demonstrating resilience despite climate challenges and crop sector declines.

Against this backdrop, the dairy and FMCG sector retained its critical role in supporting food security, nutrition, and rural livelihoods, while also responding to evolving consumer preferences and sustainability demands.

Despite macroeconomic pressures, your Company continued to progress strategically, focusing on sustainability, diversification, and efficiency. Major highlights of FY2025 include:

1. Sustainability & Environment

   ⬤Commissioned a solar power system at the Company's dairy farm, reducing dependency on grid electricity.

   ⬤Successfully introduced biogas energy generation from cow dung, supplying renewable energy to our processing plant and lowering diesel and electricity consumption.

   ⬤These initiatives have materially reduced the Company's carbon footprint and operational energy costs, strengthening its commitment to climate-resilient operations.

2. Employee Welfare

   ⬤Launched Voluntary Pension Fund Scheme (implementation commenced post year-end), reinforcing the Company's focus on employee financial security and long-term retention.

3. Product Diversification & Market Expansion

   ⬤Expanded beyond core dairy into eggs and honey, broadening the FMCG portfolio under a strategic product development approach, with new initiatives to be rolled out throughout the year.

   ⬤Enhanced delivery coverage by adding new distribution locations, resulting in stronger market penetration across Pakistan.

   ⬤Initial groundwork has been completed to export dairy and non-dairy products to Gulf countries, a milestone that will mark At-Tahur's entry into international markets.

4. Operational & Financial Initiatives

⬤The Company raised short-term Sukuk financing strategically to procure cattle feed in the off-season, ensuring availability at lower cost and achieving a competitive advantage in feed cost per litre of milk.

⬤Expanded its distribution fleet by adding new vehicles, strengthening logistics capabilities and ensuring timely delivery of products to an expanding customer base.

The Company delivered another year of progress in FY2025, reflecting its strong fundamentals, disciplined execution, and strategic focus on efficiency, sustainability, and diversification. Gross profit rose to PKR 2,517.86 million, compared to PKR 2,406.89 million in the previous year, reflecting operational excellence and efficiency gains. Profit from operations increased to PKR 885.85 million (FY2024: PKR 832.36 million), supported by prudent cost management, higher other income, and productivity improvements. Profit before taxation reached PKR 585.51 million, up from PKR 481.24 million last year, underscoring robust operating performance. Profit after taxation strengthened to PKR 528.15 million, compared to PKR

353.23 million in FY2024, highlighting the success of strategic initiatives and financial discipline. Earnings per

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Directors' Report

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share (EPS) improved to PKR 2.42 from PKR 1.62 in FY2024, delivering enhanced returns to shareholders.

NET PROFIT AFTER TAX

(RS. MILLION)

During the year, the Company contributed a sum of Rs.

786.68 million, in terms of income taxes, sales tax, and other government levies, to the national exchequer, which amounts to about 13.91% of the total revenue of the Company.

1. The financial statements, prepared by the management of the Company, present fairly its state of affairs, the result of its operations, cash flows and changes in equity;

2. Proper books of account of the Company have been maintained;

3. Appropriate accounting policies have been consistently applied in preparation of financial statements and accounting estimates are based on reasonable and prudent judgment;

4. International Financial Reporting Standards, as applicable in Pakistan, have been followed in preparation of financial statements and any departure there from has been adequately disclosed and explained;

5. The System of Internal Control is sound in design and has been effectively implemented and monitored;

6. There are no significant doubts upon the listed company's ability to continue as a going concern;

7. There has been no material departure from the best practices of corporate governance;

8. Key operating and financial data of last six years in a summarized form is attached;

9. All the statutory payments on account of taxes, duties, levies and charges have been made except those disclosed in financial statements.

   BOARD & ITS MEETING

   The total number of Directors are seven (07) as per following:

   1. Male 06

   2. Female 01

The Composition of Board of Directors is as follows:

1. Independent Directors:

   1. Mr. Ijaz Nisar Justice (Rtd.)

   2. Mr. Abid Sattar

   3. Mr. Aurangzeb Firoz

   4. Syed Kashif ul Hassan Shah

   5. Dr. Farzana Firoz

2. Other Non-Executive Directors:

   1. Mr. Shabbi Zahid Ali

3. Executive Directors:

   1. Mr. Rasikh Elahi

Four meetings of the Board of Directors were held during the year 2024-2025. Name of the Directors (at any time during the year) along with their attendance in Board Meeting is as under:

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AT-TAHUR LIMITED

Directors' Report

1. Mr. Ijaz Nisar 4

2. Mr. Rasikh Elahi 4

3. Mr. Abid Sattar 4

4. Mr. Aurangzeb Firoz 4

5. Dr. Farzana Firoz 1

6. Mr. Shabbi Zahid Ali 4

7. Syed Kashif ul Hassan Shah 4

(However, leave of absence was granted to the Directors who could not attend the Board Meeting(s) due to preoccupations).

The Board of Directors in compliance to the Code of Corporate Governance has established an Audit Committee and Four Audit Committee Meetings were held during the year 2024-2025.

Attendance by each member is as under:

1. Syed Kashif ul Hassan Shah 4

2. Mr. Abid Sattar 4

3. Mr. Shabbi Zahid Ali 4

The Board of Directors in compliance to the Code of Corporate Governance has established a Human Resource & Remuneration Committee and One HR&RC Meeting was held during the year 2024-2025.

Attendance by each member is as under:

1. Mr. Ijaz Nisar 1

2. Mr. Shabbi Zahid Ali 1

3. Mr. Rasikh Elahi 1

The Board of Directors has approved Directors' Remuneration Policy. The features of the policy are as follows:

•The Company shall not pay remuneration of its non-executive directors including independent directors except for meeting fee for attending Board meeting(s);

•The Company will reimburse or incur expenses of travelling and accommodation of Directors in relation to attending of Board meeting(s);

•The Directors' Remuneration policy will be reviewed and approved by the Board of Directors from time to time.

Moreover, the Board acknowledge the valuable contributions being made by the Non-Executive Directors, and currently a meeting fee is being offered for attendance and participation in Board meeting(s), while this does not reflect compensation of their contributions and just represents a token of appreciation. The Non-Executive Directors may waive their rights to receive such remuneration for attending and participation in the above meetings.

Remuneration of CEO, Directors & Executives is disclosed in note no. 40 to the financial statements for the year ended June 30, 2025.

3 out of 7 Directors of the Company have acquired Directors' Training Program certification. The Company has planned to arrange Directors' Training Program certification for remaining Directors in due course of time.

In compliance with the requirements of SECP Circular No. 10 of 2024, the Company has carried out an assessment of gender pay gap during the year. The analysis was conducted on the basis of average and median gross salaries of male and female employees.

•Mean Gender Pay Gap: -32.9% (in favor of female employees)

•Median Gender Pay Gap: -54.7% (in favor of female employees)

The results reflect that, on average, female employees are remunerated at higher levels compared to male employees. This outcome is primarily driven by the smaller number of female employees who are concentrated in relatively higher-paid positions.

The Company remains committed to ensuring fair and equitable pay practices, while also taking steps to enhance gender diversity and representation across different levels of the organization.

Keeping in view the requirements of operations of the Company, the Directors have not recommended cash dividend for the year ended June 30, 2025 to the shareholders of the Company. However, the Directors are firmly committed to a steady stream of payout to the shareholders after satisfactory operating cash flows.

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Directors' Report

The Break-up value per share for the year is Rs. 25.88 /-.

The existing auditors, M/s Riaz Ahmad & Co., Chartered Accountants retire and being eligible, offers themselves for re- appointment. The Directors endorse the recommendation of the Audit Committee for re-appointment of M/s Riaz Ahmad & Co, as the auditors for the year ending June 30, 2026.

All transactions with related parties have been disclosed in the financial statements under review.

The pattern of shareholding of the Company as at June 30, 2025, as required by section 227 of the Companies Act, 2017 and Code of Corporate Governance, is enclosed.

The key operating and financial data for the last six years is enclosed.

The Board has developed and adopted structured self evaluation criteria and processes to evaluate its own performance, as well as individual performance of members and committees.

The Company strongly believes in integration of corporate social responsibility into its business that are influenced directly or indirectly by our business.

The Company has been complying with the rules of Securities and Exchange Commission of Pakistan and has implemented better internal control policies with more rigorous checks and balances.

The Directors of the Company endorse the contents of the Chairman's review, dealing with the overall performance of the Company, future outlook and report on the performance and effectiveness of the Board.

The Board of Directors and the Audit Committee of the Board regularly review the risk matrix in terms of impact and probability of occurrence. The senior management team, led by the Chief Executive Officer is responsible for risk

mitigation measures. The Company's ability to continually assess market conditions and then react decisively, allows the Company to manage risks responsibly and take opportunities to strengthen the position of the Company when they arise. The major risk to which Company is exposed and their mitigation is explained in note 47 of the financial statements.

There have been no material changes and commitments affecting the financial position of the Company which have occurred between 30 June 2025 till today.

The future prospects of your Company are exceedingly promising on account of the Management's efforts towards increasing the Company's market share through wider participation in all its business segments. The Company is striving to yield better volumes from its existing clientele as well as prospective clients by expanding and growing relationships with them through the Company's premium suite of products. This includes offering new and novel products and services through unrelenting research and focus on quality offerings.

We are grateful to our customers for their continued patronage of our products and wish to acknowledge the efforts of the entire At-Tahur team, including our staff, vendors, dealers and all business partners for their untiring efforts in these challenging times and look to their continued support.

We bow to the Almighty and pray for His blessings and guidance.

For & On behalf of Board of Directors

Chief Executive Officer Director September 30, 2025

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AT-TAHUR LIMITED

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Key Operating and Financial Data

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