Transmission of Quarterly Financial Statements

ATTOCK CEMENT PAKISTAN LIMITED

Contents

02

04

08

Company Information Directors' Review

Condensed Interim Statement of Financial Position

09

10

11

Condensed Interim Statement of Profit or Loss & Other Comprehensive Income Condensed Interim Statement of Changes in Equity

Condensed Interim Statement of Cash Flows

12

Selected notes to and forming part of the Condensed Interim Financial Statements

Financial

STATEMENTS

Company

INFORMATION

Board of Directors

Laith G. Pharaon Wael G. Pharaon

Non-Executive Director Non-Executive Director

Shuaib A. Malik Abdus Sattar

Chairman & Non-Executive Director Non-Executive Director

Shamim Ahmad Khan Agha Sher Shah

Independent Director Independent Director

Mohammad Haroon

Independent Director

Chief Executive Alternate Directors

Babar Bashir Nawaz Babar Bashir Nawaz

Irfan Amanullah

Audit Committee of the Board Shamim Ahmad Khan - Chairman Shuaib A. Malik

Abdus Sattar Agha Sher Shah

HR & Remuneration Committee Agha Sher Shah - Chairman Shuaib A. Malik

Shamim Ahmad Khan Mohammad Haroon

Chief Operating Officer & Company Secretary Irfan Amanullah

Chief Financial Officer

Muhammad Rehan

Auditors

A.F. Ferguson & Co. Chartered Accountants

Cost Auditors

UHY Hassan Naeem & Co. Chartered Accountants

Legal Advisor

M/s. HNT & Associates

Bankers

MCB Bank Limited The Bank of Punjab Allied Bank Limited Faysal Bank Limited Askari Bank Limited United Bank Limited Habib Bank Limited Bank Al-Habib Limited Meezan Bank Limited

National Bank of Pakistan Limited Dubai Islamic Bank Pakistan Limited Habib Metropolitan Bank Limited Industrial & Commercial Bank

of China Limited BankIslami Pakistan Limited Bank Alfalah Limited

Registered Office

D-70, Block-4, Kehkashan-5, Clifton, Karachi-75600

Tel: (92-21) 35309773-4

UAN: (92) 111 17 17 17

Fax: (92-21) 35309775

Email: acpl@attockcement.com Web site: https://www.attockcement.com

Plant

Hub Chowki, Lasbela Balochistan

Share Registrar

M/s. FAMCO Share Registration Services (Private) Ltd.

8-F, Near Hotel Faran, Nursery, Block-6, PECHS, Shahra-e-Faisal, Karachi Tel: (92-21) 34380101-5,

(92-21) 34384621-3

Fax: (92-21) 34380106

DIRECTORS' REVIEW

The Directors are pleased to announce the results of the Company for the nine months' period ended March 31, 2026.

OPERATIONAL & FINANCIAL REVIEW

Production and sales figures for the period ended March 31, 2026 are as follows:

July-Mar. 2026

Tons

July-Mar. 2025

INDUSTRY REVIEW

During the period under review, the local market in the South recorded a meager growth of approximately 3%, while export sales of both cement and clinker increased by 13%. Overall, the South region's industry achieved a 9% growth compared to the same period last year.

SALES REVIEW

The Company's local dispatches increased by 70,112 tons, reflecting a growth of 7% as compared to the same period last year. This growth was primarily driven by higher demand in key markets owing to lower interest rates and improved economic indicators. Exports of both clinker and cement also performed strongly, registering increase of 606,069 tons, equivalent to staggering growth of 59% over the corresponding period. This phenomenal increase was due to favorable regional demand mainly emerging from West African markets. On an overall basis, total dispatches increased by 34% as compared to the corresponding period.

FINANCIAL REVIEW

The Company's net sales revenue increased by Rs.9,462 million, representing a 40% growth over the corresponding period, driven by higher volumetric dispatches and improved pricing. Net retention per ton (both cement and clinker) rose by Rs.543 (5%) compared to the same period last year

On the cost side, production cost per ton of total dispatches declined by 4%, primarily driven by lower fuel expenses due to reduced average coal procurement prices during the period under review. As a result of higher net retention and reduced production costs, the Company's overall gross and operating margins improved significantly, rising from 21% and 12% to 28% and 15%, respectively.

Profit after tax for the period was recorded at Rs. 2,461 million, an increase of Rs. 1,151 million (88%) as compared to the corresponding period.

DIRECTORS' REVIEW

SALE OF COMPANY'S SHARES BY MAJORITY SHAREHOLDERS

On January 30, 2026, the majority shareholder M/s Pharaon Investment Group Holding Limited SA.L. (PIGL) entered into Share Purchase Agreement (SPA) with M/s Fauji Cement Company Limited (FCCL) and M/s Kot Addu Power Company Limited (KAPCO) for sale of its entire shareholding of 84.06% in the company. Both FCCL and KAPCO shall jointly purchase 50% respectively of PIGL's shareholding. Regulatory approvals for the transfer of shares are obtained and all the other legal formalities for share transfers including Public offering are under way. It is expected that shares transfer will be completed in accordance with the term of SPA by April 2026.

RESIGNATION OF CHIEF EXECUTIVE OFFICER

The Board of Directors have received the letter of resignation from Mr. Babar Bashir Nawaz the Chief Executive of the Company. The Board has accepted the resignation of the Chief Executive of the Company

w.e.f. April 30, 2026. The Board also wishes to place on record its sincere appreciation and profound gratitude for his services during his 40 years long association with the company in different roles which include last 24 years as Chief Executive Officer.

The Board acknowledges with deep appreciation his exemplary leadership, unwavering commitment and the invaluable contribution he made throughout his service with the Company. Under his leadership, the Company achieved significant growth, strengthened its operational & governance framework and made significant strategic investments thereby laying a solid foundation for its continued success.

FUTURE OUTLOOK

The economic indicators in Pakistan as in other countries are likely to nosedive and the impact will continue till the duration of ongoing conflict in the Gulf region. Though year 2025-26 started with an optimistic outlook, however, Iran-US war has changed the dynamics of the region significantly and it has impacted seriously on energy prices across the countries in the world with Pakistan no exception. The situation, if continues, would put immense pressure on developing economies like Pakistan which depends massively on imported energy resources.

On the domestic front, though the overall demand was consolidating and growing gradually however, due to recent hike in fuel and power prices by almost 25% - 30% would negatively impact this gradual recovery in short to medium term.

Furthermore, recent hike in fuel prices would affect the inflation numbers and accordingly increase in interest rates to the extent of 2%-2.5% cannot be ruled out. Similarly, repayment of loans to the extent of US $ 2 billion to a friendly country and dollar bond repayment of US $ 1.3 billion against Eurobond coupled with expected declining remittances due to current situation in Gulf countries would have serious impact on FX reserves. Accordingly, a devaluation of around 8%-10% cannot be ruled out in upcoming months. In order to manage both current and fiscal deficit the Government may put a massive cut in PSDP which would affect the growth of constructed related materials in months to come. The prices of coal in the international market has increased by almost 30% and also the fuel prices jumped up over 50% along with supply disruption in PP bags and other input materials. These factors will significantly escalate the production cost and put serious dent on the profitability of the company going forward.

Any further disruption in global energy markets, particularly arising from geopolitical tensions could exacerbate supply chain disruptions and shall push fuel prices even higher.

From an export perspective, the industry may face serious challenges. While regional markets such as Sri Lanka, Bangladesh and African destinations offer opportunities, geopolitical instability could disrupt traditional export routes and increase logistics costs beyond the threshold. Furthermore, cost escalations, due to reasons as mentioned above may allow competitors to enter into these markets and create stiff competition for Pakistani cement manufacturers.

DIRECTORS' REVIEW

The management remain committed to maintaining operational excellence through prudent financial management and strategic adaptability to mitigate these challenges effectively.

ACKNOWLEDGEMENT

The Company deeply acknowledges and recognizes the efforts put in by both the management and non-management staff and offers its sincere thanks for their continuous support. The Company also recognizes the cooperation that it has been constantly receiving from both Federal and Provincial Governments, local administration, law enforcing agencies, regulatory bodies, from customers, bankers and suppliers.

On behalf of the Board

BABAR BASHIR NAWAZ ABDUS SATTAR

Chief Executive Director

April 10, 2026 Rawalpindi, Pakistan

Financial

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT MARCH 31, 2026

The annexed notes 1 to 16 form an integral part of these condensed interim financial statements.

Muhammad Rehan

Chief Financial Officer

Babar Bashir Nawaz

Chief Executive

Abdus Sattar

Director

CONDENSED INTERIM STATEMENT OF

PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026 - UNAUDITED

Quarter ended Nine months ended

March 31,

2026

March 31,

2025

March 31,

2026

March 31,

2025

Revenue from contracts with customers Cost of sales

Gross profit

Distribution costs Administrative expenses Other expenses

Other income

Profit from operations

Gain on disposal of associate Finance cost

Share of net income of associate accounted for using equity method

Profit before income tax & Levies

Levy

Profit before income tax Income tax expense Profit for the period

Other comprehensive income for the period Total comprehensive income for the period Basic & diluted Earnings per share (Rs.)

Note 10

11

(Rupees '000)

8,298,692

(6,229,158)

2,069,534

(864,413)

(229,749)

(68,000)

478,333

1,385,705

-(536,089)

-849,616

(48,519)

801,097

(134,481)

666,616

-666,616

4.85

23,650,133

(18,596,887)

5,053,246

(2,610,188)

(638,647)

(119,532)

1,241,435

2,926,314

4,320

(1,357,945)

9,123

1,581,812

(120,470)

1,461,342

(151,711)

1,309,631

-1,309,631

9.53

The annexed notes 1 to 16 form an integral part of these condensed interim financial statements.

Muhammad Rehan

Chief Financial Officer

Babar Bashir Nawaz

Chief Executive

Abdus Sattar

Director

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026 - UNAUDITED

Issued, Subscribed and paidup capital

Unappropriated profit

Total

Transactions with the owners

Dividend

-

(1,099,416)

(1,099,416)

1,374,270

22,487,777

23,862,047

Final dividend for the year ended June 30, 2024

Transactions with the owners

Dividend

Final dividend for the year ended June 30, 2025 @ Rs. 8 per share

Balance as at March 31, 2026

The annexed notes 1 to 16 form an integral part of these condensed interim financial statements.

Muhammad Rehan

Chief Financial Officer

Babar Bashir Nawaz

Chief Executive

Abdus Sattar

Director

CONDENSED INTERIM STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026 - UNAUDITED

Muhammad Rehan

Chief Financial Officer

Babar Bashir Nawaz

Chief Executive

Abdus Sattar

Director

SELECTED NOTES TO AND FORMING PART OF THE CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026 - UNAUDITED

1. THE COMPANY AND ITS OPERATIONS

   1. Attock Cement Pakistan Limited (the Company) was incorporated in Pakistan on October 14, 1981 as a public limited company and is listed on Pakistan Stock Exchange. Its main business activity is manufacturing and sale of cement. The registered office of the Company is at D-70, Block-4, Kehkashan-5, Clifton, Karachi. The Company's cement manufacturing plant is located in Tehsil Hub, District Lasbella, Balochistan.

      The Company is a subsidiary of Pharaon Investment Group Limited Holding S.A.L., Lebanon (Parent Company).

   2. On January 30, 2026, the Company was informed that its Parent Company, in pursuance of its divestment strategy, has entered into a Share Purchase Agreement with Fauji Cement Company Limited and Kot Addu Power Company Limited for the sale of its 84.06% shareholding in the Company. The completion of the proposed transaction is subject to the fulfilment of all applicable legal and regulatory requirements, including receipt of approval from the Competition Commission of Pakistan and compliance with the provisions of the Securities Act, 2015, along with other applicable takeover laws and regulations in Pakistan.

2. BASIS OF PREPARATION

   1. Statement of compliance

      1. These condensed interim financial statements have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

         • International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and

         • Provisions of, directives and notifications issued under the Companies Act, 2017.

           Where the provisions of, directives and notifications issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of, directives and notifications issued under the Companies Act, 2017 have been followed.

      2. These condensed interim financial statements do not include all the information required for full financial statements and should be read in conjunction with the annual audited financial statements for the year ended June 30, 2025.

   2. Functional and presentation currency

      These condensed interim financial statements are presented in Pakistani Rupees which is also the Company's functional currency. All amounts have been rounded to the nearest thousand, unless otherwise indicated.

   3. Changes in accounting standards, interpretations and pronouncements

      1. Standards and amendments to approved accounting and reporting standards that are effective

         There are certain amendments and interpretations to the accounting and reporting standards which are mandatory for the Company's annual accounting period which began on July 1, 2025. However, these do not have any significant impact on the Company's financial reporting.

      2. Standards and amendments to approved accounting and reporting standards that are not yet effective

      There are certain amendments and interpretations to the accounting and reporting standards that will be mandatory for the Company's annual accounting periods beginning on or after July 1, 2026. However, these will not have any impact on the Company's financial reporting and, therefore, have not been disclosed in these condensed interim financial statements.

      IFRS 18 'Presentation and Disclosure in Financial Statements' (IFRS 18) (effective January 1, 2027)

      A new standard on presentation and disclosure in financial statements, with a focus on updates to the statement of profit or loss is being introduced. The key new concepts introduced in IFRS 18 relate to:

      • the structure of the statement of profit or loss;

      • required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity's financial statements (that is, management-defined performance measures); and

      • enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general.

      The management is in process of assessing the impact of above changes.

      Other than above, there are standards and certain amendments to accounting standards that are not yet effective and have not been early adopted by the Company for the financial year beginning on July 01, 2025. Such standards and amendments are not expected to have any significant impact in the Company's financial reporting and, therefore, have not been presented in these financial statements.

3. MATERIAL ACCOUNTING POLICIES INFORMATION

   The accounting policies adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the annual financial statements of the Company for the year ended June 30, 2025.

4. ACCOUNTING ESTIMATES, JUDGEMENTS AND FINANCIAL RISK MANAGEMENT

   1. The preparation of condensed interim financial statements in conformity with accounting and reporting standards, as applicable in Pakistan, requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

   2. The significant judgements made by the management in applying the Company's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the annual financial statements as at year ended June 30, 2025.

   3. The Company's financial risk management objectives and policies are consistent with those disclosed in the annual financial statements as at June 30, 2025.

March 31,

2026

(Audited) June 30,

2025

1. PROPERTY, PLANT AND EQUIPMENT

   (Rupees '000)

   
   
   

   Operating assets - note 5.1 Capital work-in-progress

   34,700,829

   9,123

   36,001,580

   -

   Stores held for capital expenditure	1,368,703		1,338,443
   	36,078,655		37,340,023
   	March 31,		March 31,
   	2026		2025
   (Rupees '000)
   5.1	Additions to operating assets during the period were as follows:
   	Buildings and roads on freehold land	-	898,323
   Plant and Machinery	95,445		4,948,467
   Vehicles	59,044		57,187
   Others	3,343		6,828
   	157,832		5,910,805
   Disposals during the period - Net book value	12,758		37,212
   Transfers to stores during the period - Net book value	61,177		15,910

   March 31,

   2026

   (Audited) June 30,

   2025

2. INVENTORIES

   (Rupees '000)

   
   
   

   Stores, spares & loose tools - note 6.1	2,036,110	5,064,919
   Raw materials	209,462	189,191
   Packing materials	267,273	235,477
   Work in process including semi-finished goods	1,493,049	1,965,081

   Finished goods

   1. Stores, spares & loose tools

      316,699

      4,322,593

      198,227

      7,652,895

      Coal	601,929	3,833,720
      Stores & spares	1,420,562	1,278,549
      Bricks	189,914	149,078
      Loose tools	7,479	6,891
      	2,219,884		5,268,238
      Less: Provision for slow moving and obsolete items	(183,774)		(203,319)
      2,036,110 5,064,919 - -

3. INVESTMENT HELD FOR SALE

   The Board of Director in their meeting held on October 27, 2025 approved divestment of associate. The investment was sold to M/s Attock Petroleum Limited Employees Welfare Trust for a consideration of Rs. 108 million. The proceeds have been realized and shares have also been transferred in accordance with Sale Purchase Agreement.

   March 31,

   2026

   (Audited) June 30,

   2025

4. TRADE AND OTHER PAYABLES

   (Rupees '000)

   
   
   

   Creditors	1,116,196	1,619,152
   Accrued Liabilities	2,709,599	3,390,474
   Contract liability - advances from customers	2,291,418	1,131,469
   Excise duty payable on sales	55,310	42,918
   PSI marking fee	431,815	388,995
   Infrastructure Cess	798,490	630,092
   Workers Welfare Fund	274,148	202,558
   Workers Profits Participation Fund	222,740	151,879
   Others	977,427	504,658
   	8,877,143	8,062,195

5. CONTINGENCIES AND COMMITMENT

   1. The status of contingency and commitment as reported in note 25 to the financial statements for the year ended June 30, 2025 is the same.

   2. Commitments in respect of capital expenditure outstanding as at March 31, 2026 amounted to Rs. Nil (June 30, 2025: Rs. 6 million).

      March 31,

      2026

      March 31,

      2025

6. REVENUE FROM CONTRACTS WITH CUSTOMERS

   (Rupees '000)

   
   
   

   Local sale of goods	25,597,028	22,836,417
   Sales tax and federal excise duty	(8,329,249)	(7,601,860)
   	17,267,779	15,234,557
   Rebates and discounts	(770,777)	(726,428)
   Net local sale of goods	16,497,002	14,508,129
   Exports sales	16,614,789	9,142,004
   	33,111,791	23,650,133

7. DISTRIBUTION COSTS

   Distribution costs includes Rs. 2,823 million (March 31, 2025: Rs. 1,841 million) in respect of export sales.

   March 31,

   2026

   March 31,

   2025

8. CASH GENERATED FROM OPERATIONS

   (Rupees '000)

   
   
   

   Profit before taxation

   Depreciation	1,357,722		1,261,881
   Gain on disposal of property, plant and equipment Gain on disposal of associate Gain on sale of mutual fund units Gain on sale of investment - AITSL Net gain on sale of short term investment	(22,144) -(114,009) (21,058) -		(2,822) (4,320) (12,119) -(154,371)
   Interest income	(18,809)	(13,953)
   Income on term deposit receipts	(21,712)	(36,208)
   Provision for stores, spares and loose tools	19,546	12,616
   Employee benefits obligations	(16,759)	37,515
   Finance cost	564,641	1,307,148
   Government grant recognized in income Share of net income of associate accounted for using the equity method	(121,412) -	(135,253) (9,123)

   Add/(Less): Adjustment for non cash charges and other items:

   4,159,071

   1,581,812

   Profit before working capital charges

   Effect on cash flow due to working capital changes

   Decrease / (Increase) in current assets Inventories

   Trade receivables - considered good Loans and advances - considered good Short - term deposits and prepayments Other receivables

   Tax refunds due from government - Sales tax

   Increase / (decrease) in current liabilities Trade and other payables

   Cash generated from operations

   1,606,006 5,765,077

   3,330,302 90,068 11,780 (252,138) 64,359 41,218

   3,285,589 814,948

   4,100,537

   9,865,614

   2,250,991 3,832,803

   2,673,256 (182,508) (72,499) 87,894 (426,775) 397,731

   2,477,099 (2,199,956)

   277,143

   4,109,946

   March 31,

   2026

   March 31,

   2025

9. TRANSACTIONS WITH RELATED PARTIES

   Holding Company

   (Rupees '000)

   
   
   

   Payment of Dividend	924,211	462,105
   Expenses paid on behalf of PIGL	34,441	1,500

   Associated Companies Purchase of goods Sales of vehicles

   Sales of goods

   143,170

   6,300

   -

   137,253

   -261

   Reimbursement of expenses	15,375	5,439
   Recovery of expenses	2,505	12,438

   Other related parties

   Payments made to retirement benefit funds	128,061	44,656
   Payment made against rent	988	968
   Key management compensation
   Loans and advances recovered during the year	2,319	1,998
   Loans and advances disbursed during the year	8,276	2,997
   Salaries and other short - term employee benefits	* 321,722	162,411
   Post - employment benefits	9,252	8,257

   Sale of Investment (AITSL) to APL Emp Welfare Trust

   97,200 -

   Sales of goods / vehicles

   * This includes Rs. 140 million in respect of compensation of loss of office to CEO.

   1,990 -

10. CORRESPONDING FIGURES

    Prior period figures have been reclassified wherever necessary for the purpose of appropriate presentation.

11. NON-ADJUSTING EVENTS AFTER REPORTING DATE

    The Board of Directors of the Company in their meeting held on April 10, 2026 has declared an interim cash dividend of Rs.0.50 (March 31, 2025: Nil) per share, amounting to Rs.68.713 million (March 31, 2025: Nil).

12. DATE OF AUTHORISATION FOR ISSUE

This condensed interim financial statements were approved and authorised for issue on April 10, 2026 by the Board of Directors of the company.

Muhammad Rehan

Chief Financial Officer

Babar Bashir Nawaz

Chief Executive

Abdus Sattar

Director

Phone:

(92-21) 35309773-4

UAN:

(92) 111 17 17 17

Mail:

acpl@attockcement.com

Address:

D-70, Block-4, Kehkashan-5, Clifton, Karachi-75600, Pakistan.