Transmission of Quarterly Financial Statements for the Period Ended 2025-12-31

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CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED DECEMBER 31, 2025

Email: info@citipharma.com.pk Website: https://www.citipharma.com.pk

Tel: 042 - 35316587

Address: 588-Q, Johar Town Lahore

Company Information 3

Director’s Report4

Auditor’s Review Report 9

Financial Satements 10

COMPANY INFORMATION

BOARD OF DIRECTORS

Mr. Nadeem Amjad - Chairman

Mr. Rizwan Ahmad - Chief Executive Officer Dr. Zameer Ul Hassan - Executive Director Ms. Saira Aslam - Non-Executive Director Mr. Muhammad Naeem - Non-Executive Director

Mr. Abdul Jaleel Shaikh - Independent Director Ms. Saima Shafi Rana- Independent Director

AUDIT COMMITTEE

Mr. Abdul Jaleel Shaikh (Independent Director) Mr. Nadeem Amjad (Non-Executive Director) Mr. Muhammad Naeem (Non-Executive Director)

Human Resource & Remuneration Committee

Ms. Saima Shafi Rana (Independent Director)

Mr. Zameer Ul Hassan Shah (Executive Director)

Mr. Rizwan Ahmad (Executive Director)

Management Chief Financial Officer Mr. Asif Iqbal Company Secretary Mr. Ghulam Dastgeer

Head of Internal Auditor Mr. Muhammad Ishaq

External Auditors

Aslam Malik & Co. Chartered Accountants

Legal Advisors

Mr. Harron Farrukh

Share Registrar

F.D Registrar Services (Pvt) Ltd

Bankers

Habib Metropolitan Bank Limited Habib Bank Limited - Islamic

Pak Brunei Investment Company Limited Samba Bank Limited

Soneri Bank Limited Bank of Punjab Limited National Bank of Pakistan Bank Al Habib Limited Meezan Bank Limited

Standard Chartered Bank (Pakistan) Limited United Bank Limited

Head Office

588-Q Block, M.A., Johar Town, Lahore Tel: +92-42-35316587

Registered Office

3-KM, Head Balloki Road, Bhai Pheru, Distt Kasur

Tel: +92-49-4510189, 4513392

Fax: +92-49-4510191

E-Mail: corporate@citipharma.com.pk Website: https://www.citipharma.com.pk

The Directors of Citi Pharma Limited (“the Company”) are pleased to present the unaudited condensed interim financial statements for the half year ended December 31, 2025. These financial statements have been prepared in accordance with the requirements of the International Accounting Standard (IAS) 34 ‘Interim Financial Reporting’ and the director report is prepared in accordance with section 227 of Companies Act, 2017 and Chapter XII of the Listed Companies (Code of Corporate Governance) Regulations, 2019.

The total number of directors are 7 as the following:

1. Male 5

2. Female 2

FINANCIAL HIGHLIGHTS

During the period under review, Citi Pharma Limited reported a strong financial performance, underpinned by improved operational efficiencies and sustained demand within the pharmaceutical sector. The Company achieved a turnover of PKR 7,702 million, representing a 14% increase compared to PKR 6,759 million in the corresponding period.

Gross profit increased significantly to PKR 1,476 million, reflecting a 53% growth as compared to PKR 967 million in the corresponding period, driven by effective cost controls, increased sales of formulation products, better product mix and enhanced production efficiencies.

Profit after tax rose to PKR 608 million as compared to PKR 458 million in the same period last year, underscoring

the Company’s sustained profitability and disciplined financial management.

Citi Pharma Limited continues to focus on strengthening its financial position through prudent utilization of growth opportunities, ongoing optimization of operational efficiencies and sustainable value creation for its stakeholders.

The Directors remain cautiously optimistic about the future prospects of the pharmaceutical industry, both domestically and internationally. In Pakistan, the sector continues to benefit from rising healthcare expenditures, an expanding population base and increased focus on local manufacturing to reduce import dependency. Government initiatives aimed at strengthening regulatory frameworks and incentivizing pharmaceutical exports are expected to further support industry growth.

The accelerated shift towards value-based healthcare, increasing incidence of chronic diseases and emphasis on generics and biosimilars provide additional avenues for growth. While global supply chain uncertainties and pricing pressures persist, strategic focus on operational efficiencies, product innovation and export diversification is expected to support sustainable growth and value creation for stakeholders.

During the next phase of its growth trajectory, Citi Pharma Limited has entered a period of focused execution and consolidation. With key expansion initiatives progressing from the planning stage towards implementation, the Company’s strategic emphasis remains on improving operational efficiency, strengthening technological capabilities and enhancing value creation across its core business segments.

The Company is currently prioritizing the following initiatives:

• Completion and operationalization of the Bioequivalence Center, which is expected to enhance product credibility, support regulatory compliance and facilitate entry into regulated international markets.

• Development of veterinary formulations (Wholly owned Subsidiary), with the introduction of products aimed at improving livestock productivity and animal health, thereby diversifying the product portfolio and addressing growing domestic demand.

• Strengthening export readiness, including alignment with international regulatory requirements and engagement with potential distributors and strategic partners in selected emerging markets.

In parallel, the Company continues to focus on disciplined cost management, productivity improvements and optimization of working capital, aimed at maintaining financial stability amid evolving market conditions.

We are very much thankful for the cooperation and continuous support provided by the Regulatory Authorities, Shareholders, our Customers, Vendors, Employees and other stakeholders.

For and on behalf of the Board

(Rizwan Ahmad) (Nadeem Amjad)

Chief Executive Officer Director

Lahore

Dated: February 13, 2026

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lNDEP€hIDEMT AMDfTOR1 REVIEW REPCt¥tT

statemems in accordance with accoumIng andf raportJng standsards aa appnc eta In r'•u•w for aterim statements based on ow r8view.

Tha I4gLuaa of €ha c› 1Blterim statement of proR ar Io¥4. the Condensed lnterhn statement of

Other cam hensive income fa' the quarters ended Deoember 31a 2025 and December 31. 2D24 have

Vve conducted ous revl ks accordance Frith InternatâorlcJ Standard on esy Engagamants 24:ID, “Review of kxerim Financial tnf•>‘matIon Performed by tf•e lndependerd Audbor of the Enthy-. A r‹ fz of condensed Interim financial •t I « t sists at making It+quk1es. prñnarily of Persona resPortsdale fee finandal and accoundng mattes, and applying anale and other review procedures. A review Is

naslly In scope zhw m buz¥t conducted in accordance with IntemabonaJ Standards on

Audldng xrul consequently doeg nbt enable us be obtain a«4urance that we wotdd Anne aware at aB s1$ni •cant matters that udgfxt ba Idancttied ks an aMIt. Aocordlngty, we do not express en audit oplrdon.

Conc¥zslon

Based on aha review. nothing has czzre zoom' anenrlon thatcatxesus to believe Gas the accompanying

accountñsg arid reoordrig staruiards as aonlicable In PWs4an for ktter n snclal Wg

The engagement partner on tI'e zevhw resuhJng In this Independent auditor's report Is I tuh nr«ad

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CITI PHARMA LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31,2025

EQUITY AND LIABILTIES Note

SHARE CAPITAL AND RESERVES

Authorized Capital:

December 31, 2025 June 30 , 2025

(Un-audited) (Audited)

----------------Rupees-------------

Chief Executive Officer Chief Financial Officer Director

CITI PHARMA LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025

Three month ended Six Month Ended

Notes

December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024

---------------------------------------------Rupees---------------------------------------------

Chief Executive Officer

Chief Financial Officer

Director

CITI PHARMA LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025

Note

Three month ended

Six Month Ended

Profit for the period

Other comprehensive income for the period

Item that will not be reclassified subsequently to Profit or Loss

Revaluation Surplus on Land

December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024

---------------------------Rupees----------------------------

Total comprehensive income for the Period 404,334,184 256,978,592 608,025,057 458,471,605

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

Chief Executive Officer Chief Financial Officer Director

CITI PHARMA LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025

- - - - - - - - - - - - - - - - - - - - - Rupees - - - - - - - - - - - - - - - - - - - - - - -

Balance as at June 30, 2024

Total Comprehensive Income for the six months

Final Dividend Paid for the year ended June 30, 2024 @ 32.5% Profit for the period

Other comprehensive income

Balance as at December 31, 2024 2,284,612,000 1,391,532,000 1,363,663,620 309,294,525 5,349,102,145

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

Chief Executive Officer Chief Financial Officer Director

CITI PHARMA LIMITED

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025

December 31, 2025 December 31, 2024

------------------Rupees------------------

(1,025,761,030) (109,243,172)

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

Chief Executive Officer

Chief Financial Officer

Director

CITI PHARMA LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025

1. THE COMPANY AND ITS OPERATIONS

   The company was incorporated as a private limited company in Pakistan under the Repealed Companies Ordinance, 1984 on October 08, 2012. The principal activity of the company is manufacturing and sale of pharmaceuticals, medical chemicals and botanical products. The company was converted into public unlisted company with effect from October 13, 2020 and was listed on Pakistan Stock Exchange on July 09, 2021. The registered office of the company is situated at 3 KM, Head Balloki Road, Phool Nagar, Kasur. The Head office of the company situated at 588 Q Block, Johar Town, Lahore.

2. STATEMENT OF COMPLIANCE

   This condensed interim financial statement of the company are unaudited and 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 34, ‘Interim Financial Reporting, issued by International Accounting Standards Board

   (IASB) as notified under the Companies Act, 2017; and

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

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

3. BASIS OF PREPARATION

   Theses condensed interim financial statements are un-audited but subject to limited scope review by statutory auditors as requires under section 237 of the companies act, 2017.This condensed interim financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the annual financial statements of the company for the year ended June 30, 2025.

   The figures of the condensed interim statement of profit or loss, condensed interim statement of comprehensive income for the quarters ended December 31, 2025 and December 31, 2024 and notes forming part thereof have not been reviewed by the statutory auditors of the Company, as they are required to review only the cumulative figures for the six months ended December 31, 2025.

   These condensed interim financial statements are presented in Pakistan Rupees, which is the Company’s functional and presentation currency

4. MATERIAL ACCOUNTING POLICY INFORMATION

   The accounting policies and methods of computation adopted in the preparation of these condensed interim financial statements are consistent with those

   followed in the preparation of the Company’s annual financial statements for the year ended June 30, 2025, except for the following:

   Pursuant to the release of circular 7/2024 by the Institute of Chartered Accountants of Pakistan, the Company has elected to change the method of accounting for minimum taxes and final taxes.

   The Company has elected to designate the amount calculated on taxable income using the enacted tax rate as an income tax within the scope of IAS 12 ‘Income Taxes’ and recognise it as current income tax expense. Any excess over the amount designated as income tax, will then be recognised as a levy falling under the scope of IFRIC 21/IAS 37.

   As computation of final taxes under provisions of ITO, 2001 is not based on taxable income, therefore, final taxes fall under levy within the scope of IFRIC 21/IAS 37 and not income tax in the condensed interim statement of profit or loss.

   The Company reclassified the levies that fall under the scope of IFRIC 21/IAS 37 in the condensed interim statement of profit or loss. Consequently, there is no change reported in the prior period due to this reclassification. The three column impact, in the context of restatement in the Company’s condensed interim financial statements, is not material.

5. NEW STANDARDS, INTERPRETATIONS AND AMENDMENTS TO INTERNATIONAL FINANCIAL REPORTING STANDARDS

   There are certain amendments to existing accounting and reporting standards that have become applicable to the Company for accounting periods beginning on or after July 01, 2024. These are either considered to not be relevant or do not have any significant impact and accordingly, have not been detailed in these condensed interim financial statements.

6. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND FINANCIAL RISK MANAGEMENT

   The preparation of condensed interim financial statements in conformity with approved accounting standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company’s accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

   Judgements and estimates made by the management in the preparation of these condensed interim financial statements are the same as those applied in the

   Company’s annual financial statements for the year ended June 30, 2025.

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

   CITI PHARMA LIMITED
   CONDENSED INTERIM NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED DECEMBER 31, 2025	Notes	December 31, 2025 (Un-audited)	June 30, 2025 (Audited)

   ------------------Rupees------------------

7. SHARES CAPITAL

   Authorized share capital 3,000,000,000 3,000,000,000

   300,000,000 Ordinary shares of Rs. 10/ each

   Issued, subscribed and paid up capital

   117,692,000 (June 2025: 117,692,000) Ordinary shares of Rs. 10 each, fully paid in cash 1,176,920,000 1,176,920,000

   110,769,200 (June 2025: 110,769,200) Ordinary Share of Rs. 10 each issued as fully paid Bonus shares 1,107,692,000 1,107,692,000

   2,284,612,000 2,284,612,000

8. LONG TERM FINANCING - SECURED

   -

   -

Long Term Loan-Solar Pannel (64m)

Long Term-Loan Solar Installation 1 (13.4m)

77,429,000 -

Current Portion shown under current liabilities (38,714,500) -

38,714,500 -

1. LEASE LIABILITIES

   The amount of future minimum lease payments along with their present value and the period during which they fall due are as under:

   Not later than one year 23,753,005 25,731,853

   Later than one year but not later than five years 70,528,527 83,045,912 94,281,532 108,777,765

   Less: Un-Accrued Finance charges (19,124,332) (28,111,106)

   75,157,200 80,666,659

   Less: Current maturity of long term obligation (14,916,173) (15,802,536)

   60,241,027 64,864,123

   Payable within one year 14,916,173 15,802,536

   Payable after one year 60,241,027 64,864,123

2. CONTINGENCIES AND COMMITMENTS

   There has been no material change in the status of contingencies and commitments disclosed in note 15 to the Company's financial statements for the year ended June 30, 2025.

3. PROPERTY PLANT & EQUIPMENT

   Operating Fixed Assets 11.1 8,498,461,152 8,542,377,585

   Right of Use Assets 11.2 77,131,502 96,414,377

   Capital Work-in-Progress 88,232,908 49,106,889

   8,663,825,562 8,687,898,852

   1. Operating Fixed Assets

      244,997,603

      5,075,322,775

      -

Opening Written down value as at July 01 8,542,377,585 3,393,093,808 Addition during the period/year 11.1.1

Revaluation Surplus

Disposal during the period/year

39,953,122 5,320,320,378

Depreciation charged for the period/ year (83,869,554) (171,036,601)

Closing written down value 8,498,461,152 8,542,377,585

1. Details of additions during the period/year as follows:

   	Freehold Land	-		-
   	Building on Freehold Land	1,934,500		12,389,419
   	Plant & Machinery	25,115,329		198,227,555
   	Vehicles	117,500		14,775,000
   	Office Equipments	10,303,080		14,343,765
   	Furniture and Fixtures	745,188		3,334,655
   	Computers	1,737,525		1,927,209
   		39,953,122		244,997,604
   11.2	Right of Use Assets
   	Opening Balance	96,414,377		6,556,529
   	Addition during the period/year	-		100,902,459
   	Depreciation charged during the period/year	(19,282,875)		(13,996,000)
   	Closing Balance	77,131,502		93,462,988

   December 31, 2025 June 30, 2025

1. OTHER INCOME (Un-audited) (Audited)

   Bank Profits on Saving Accounts 1,034,839 928,436

   Profits on Term Deposit Receipts (TDRs) 38,650,128 96,481,523 Dividend Income - 26,693

   Markup on Investment in Yaqeen Developers Limited (Related Party) 17,003,332 26,007,716

   Un-Realized Gain/loss on Investment in Shares- Net 105,000 -Realized Gain on Investment in Shares- Net - 16,327,034

   Exchange Gain - 2,291,041

   Income from non-financial assets

   Amortisation of Grant Income - 582,494

   56,793,299 142,644,938

   Other Income represents Profits on Savings accounts, Profit on Term Deposits Receipts, dividend income, Markup on Investment in Yaqeen Developers Limited (Related Party) and Un-Realized Gain/loss on Investment in Shares- Net.

2. TRANSACTION WITH RELATED PARTIES

   The Related parties comprise principal shareholders and their affiliates, directors, companies with common directorship and key management personnel. Detail of transactions and balances at period end with related parties, other than those which have been disclosed elsewhere in these condensed interim

   financial statements, are as follows:

   Nature / name of related party and basis of relationship

   % of Shareholding Nature of Transactions

   December 31, 2025 June 30, 2025 Rupees Rupees

   Associated Companies
   Citi Technologies (Pvt.) Ltd. (Common Directorship)	-	Funds Received-Net Funds Paid-Net Payments on behalf of the Compa	- - -		44,585,244 - -
   Yaqeen Developers Ltd.	-	Markup Income	17,003,332		44,347,388
   (Common Directorship)		Funds Received			53,000,000
   Citi Innovations (Pvt.) Ltd.		Funds Received	-		11,215,933
   (Common Directorship) Directors		Funds Paid-Net Payments on behalf of the Company	5,686,383		5,500,000
   Mr. Rizwan Ahmad (Directorship / CEO)	19.97%	Loan obtained Loan repaid	- -		-31,220,000
   Mr. Nadeem Amjad	12.19%	Loan obtained	-		-
   (Directorship / Chairman)		Loan repaid	-		12,200,000

3. REMUNERATION OF CHIEF EXECUTIVES, DIRECTORS AND EXECUTIVES

   	Chief Executive	Directors	Executives		Total
   Managerial remuneration	8,600,000	10,063,280	41,214,826		59,878,106
   Bonuses	-	-	-		-
   Meeting Fees (Independent directorts 2)		1,450,000	-		1,450,000
   No. of persons	1	3	25		29

   2025

   2024

   	Chief Executive	Directors	Executives		Total
   Managerial remuneration	6,600,000	10,063,280	37,468,024		54,131,304
   Bonuses	-	-	-	-	-
   Meeting Fees (Independent directorts 2)		740,000			740,000
   No. of persons	1	3	23		27

4. UTILIZATION OF PROCEEDS FROM INITIAL PUBLIC OFFERING

The principal purpose of the issue was to increase the capacity in both segment of Active Pharmaceutical Ingredients (API) and Formulation and to set up a state of the art, 200 bed hospital facility.

Estimated break-up of utilization of the IPO proceeds is mentioned below:

In accordance with Section 16A of the Public Offering Regulations, 2017, which requires offering an exit opportunity in the event of a change in the principal purpose of issue as disclosed in the prospectus, the Company, in its Extra Ordinary General Meeting (EOGM) held on 26 June 2025, approved the reallocation of unutilized IPO proceeds.

amounting to Rs. 922.5 million originally earmarked for the hospital facility.

The Company has duly complied with the requirements of the IPO Regulations, including:

*Preparation and disclosure of the statement of facts setting out the reasons and rationale for the proposed reallocation; and

*Provision of the required exit opportunity to dissenting shareholders in accordance with applicable laws and regulations

922,551,500 45.3% 922,551,500

FAIR VALUE MEASUREMENTS

The Company discloses the financial instruments carried at fair value in the statement of financial position in accordance with the following fair value hierarchy:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).

Level 3: those with inputs for the asset or liability that are not based on observable market data(unobservable inputs).

Financial assets - fair value through profit or loss

• Short-term investment (shares of PSX)

  31-Dec-24

Financial assets - fair value through profit or loss

• Short-term investment (shares of PSX)

DATE OF AUTHORIZATION FOR ISSUE

These condensed interim financial statements were authorized for issue on February 13, 2026by the board of directors of the company.

GENERAL

The figures have been rounded off to the nearest rupees.

Corresponding figures have been rearranged, and reclassified, where necessary, for better presentation and disclosure.

Chief Executive Officer Chief Financial Officer Director