Transmission of Quarterly Report for the Period Ended 31st December 2025

Cnergyico Pk Limited

Years of

i NOVATION INVESTMENT INTEGRATION

Second Quarterly Report 3J December, 2025

1. Company Information
2. Director’s Report Unconsolidated Financial Statements

1. Statement of Financial Position
2. Statement of Profit or Loss
3. Statement of Comprehensive Income
4. Statement of Changes in Equity
5. Statement of Cash Flows

1. Statement of Financial Position
2. Statement of Profit or Loss
3. Statement of Comprehensive Income
4. Statement of Changes in Equity
5. Statement of Cash Flows

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6. Notes to Financial Statements

Uzma Abbassciy Chairperson

Amir Abbassciy Director &

Chief Executive Officer

Usama Qureshi Vice Chairman

Mushtaq Malik, Independent Director

Lt. (R) Raja Muhammad Abbas, Independent Director

Sami ul Haq Khilji, Independent Director

Aumar Abbassciy, Director

Mushtaq Malik, Chairman Usama Qureshi, Member Lt. (R) Raja Muhammad Abbas, Member

Aumar Abbassciy, Member

Lt. (R) Raja Muhammad Abbas, Chairman

Sami ul Haq Khilji, Member Usama Qureshi, Member Mushtaq Malik, Member Aumar Abbassciy, Member

Amir Abbassciy, Chairman Usama Qureshi, Member Sami ul Haq Khilji, Member Aumar Abbassciy, Member

Sami ul Haq Khilji, Chairman Lt. (R) Raja Muhammad Abbas, Member

Mushtaq Malik, Member Chief Financial Officer Zafar Shahab

2

Majid Muqtadir

Yousuf Adil

Chartered Accountants

Allied Bank Limited

Al Baraka Bank (Pakistan) Limited

Askari Bank Limited Bank Alfalah Limited Bank AL Habib Limited

Bank Islami Pakistan Limited Bank Makramah Limited Bank of China Limited -Pakistan Operations

Dubai Islamic Bank Pakistan Limited

Faysal Bank Limited

First Women Bank Limited Habib Bank Limited

Habib Metropolitan Bank Limited

JS Bank Limited MCB Bank Limited

Meezan Bank Limited National Bank of Pakistan Pak Oman Investment Company Limited

Soneri Bank Limited Sindh Bank limited The Bank of Khyber The Bank of Punjab United Bank Limited

FAMCO Share Registration Services (Private) Limited 8-F, Next to Hotel Faran

Nursery, Block - 6, P.E.C.H.S Shahrah-e-Faisal, Karachi

Tel: (92 21) 3438 0101-5

3438 4621-3

Fax: (92 21) 3438 0106

The Harbour Front, 9thFloor, Dolmen City, HC-3, Block-4, Marine Drive, Clifton, Karachi75600, Pakistan

Tel: (92 21) 111 222 081

Fax: (92 21) 111 888 081

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https://www.cnergyico.com

FOR THE PERIOD ENDED DECEMBER 31, 2025

SUBHANALLAH WALHAMDULILLAH WALA ILAHA ILLALLAH WALLAHU AKBAR

In the name of Allah the Most Merciful and the Most Benevolent.

The Company achieved a significant milestone in current period as it became the first and the only refinery in the country to process crude oil sourced from the United States of America. The Company processed over two million barrels of the US sourced crude oil which was lighter, sweeter and provided greater profitability and operational flexibility to the Company which is reflected in the current period’s income statement. This also supported the Government in achieving the bilateral trade target with the US in terms of tariff rationalization by the current US Administration. Considering the improved product yields and healthier refinery margins of the US crude, the Company placed order for more US crude for processing in the subsequent period.

The Company also started supplying Very Low Sulphur Fuel Oil (VLSFO) for ship refueling at Pakistani ports. This was done in collaboration with the international trade partners and we expect the volume to grow significantly in future.

Further, crack differentials on HSD and PMG also improved significantly in second quarter of the period under review thereby improving overall margins as depicted in below chart.

As a result of the above factors, the Company achieved gross sales of PKR 188.8 billion (2024: PKR 185.8 billion) with 30% increase in gross profit from PKR 5.6 billion in 2024 to PKR 7.3 billion

in 2025. With stringent cost controls, the Company increased the operating profit by 39% to PKR

6.1 billion (2024: PKR 4.4 billion). Finance costs also reduced by 31% however, the tax charge increased by over PKR 1.1 billion due to the imposition of super tax. Currently, all import payments are being made at open market rates, which are PKR 2 to PKR 3 higher than the State Bank of Pakistan’s (SBP) weighted average rate used in the product pricing formula. This mismatch in computing of product prices is a significant drag on the Company’s profitability.

The oil marketing business performed well despite the flooding of market with imported and smuggled products and added segment profit of PKR 1.3 billion during the period.

Accordingly, the Company earned basic I diluted earnings per share of PKR 0.54 as compared to basic | diluted profit per share of PKR 0.30 in the same period last year.

The refineries are actively engaged with the Government to resolve the issues related to the implementation of Pakistan Oil Refining Policy For Upgradation of Existing I Brownfield Refineries, 2023 (Policy). We hope that the Government will give due attention to the matters and will provide an amicable solution so that refineries can commence upgrade project.

The Board wishes to place on record its gratitude for the co-operation extended by the Government of Pakistan and our strategic partners including: customers, financial institutions, suppliers | vendors and shareholders.

For and on behalf of the Board of Directors

The Directors of your Company are pleased to present a brief review of the financial results and operations of the Company for the period ended 31stDecember, 2025.

Chief Executive Officer Director

Karachi

24thFebruary, 2026

2025 ربمسد 31 تدم ماتتخا ےئارب

ربكأ هللاو ،هللا الإ هلإ الو ،هلل دمحلاو ،هللا ناحبس

۔ےہ الاو ےنرک محر تیاہن روا نابرہم اڑب وج ےس مان ےک هللا عورش

یک ینپمک روا جئاتن یتایلام ےئل ےک داعیم یلاو ےنوہ متخ وک 2025 ربمسد 31 زرٹکیرئاڈ ےک ینپمک یک پآ ۔ںیہ ےہر رک سوسحم یشوخ ےئوہ ےترک شیپ ہزئاج رصتخم کیا اک ںویمرگرس یلمع

یرنئافیر دحاو روا یلہپ یلاو ےنرک سیسورپ وک لیت ماخ ہدرک لصاح ےس ہکیرما ںیم تدم ہدوجوم ےن ینپمک کیا ہک وج ،ایک سسارپ لیت ماخ یکیرما ہدایز ےس لریب ھکال 20 ےن ینپمک ۔ایک لصاح لیم گنس مہا کیا رک نب ہک وج ،یک مہارف یھب کچل لنشیرپآ روا عفانم ہدایز وک ینپمک ےن سا روا ،ےہ اتھکر کھدنگ مک روا ےہ لیت اکلہ فریٹ ےس فرط یک ہیماظتنا یکیرما ہدوجوم ےن سا ۔ےہ اتوہ رہاظ ںیم ےراوشوگ یتایلام ےک رود ہدوجوم ددم یک تموکح یھب ںیم ےنرک لصاح وک فدہ یتراجت ہفرطود ھتاس ےک ہکیرما ےس ظاحل ےک نشیزئالنشیر یک دعب ےن ینپمک ،ےئوہ ےتھکر رظندم وک نجرام یرنئافیر دنم تحص روا راوادیپ رتہب یک لیت ماخ یکیرما ۔یک ۔اید رڈرآ اک لیت ماخ یکیرما دیزم ےیل ےک گنسیسورپ ںیم تدم

(VLSFO) لئآ لویف ےلاو کھدنگ مک تہب ےیل ےک ےنرھب نھدنیا ںیم ںوزاہج رپ ںوہاگردنب یناتسکاپ ےن ینپمک دیما مہ روا ،اھت ایگ ایک ےس نواعت ےک ںوراد تکارش یتراجت یماوقالا نیب ہی ۔ےہ ید رک عورش یھب یمہارف یک ۔اگوہ ہفاضا ںایامن ںیم مجح ںیم لبقتسم ہک ںیہ ےترک

یرتہب ںایامن ںیم یہام ہس یرسود یک تدم رظن ریز یھب ںیم زلشنیرفیڈ کیرک ےک PMG روا HSD ،ںآرب دیزم ۔ےہ ایگ ایاھکد ںیم ٹراچ لیذ جرد ہک اسیج ،یئآ یرتہب ںیم نجرام یعومجم ےس سج ،یئآ

(ےپور یناتسکاپ برا 185.8 :2024) ےپور یناتسکاپ برا 188.8 ےن ینپمک ،ںیم ےجیتن ےک لماوع الاب ہجردنم ےس ےپور یناتسکاپ برا 5.6 ںیم 2024 ںیم عفانم یعومجم ھتاس ےک سج ،یک لصاح تخورف یعومجم یک ینپمک ،ےس ہجو یک لورٹنک تخس رپ تاجارخا ۔اوہ ہفاضا دصیف 30 کت ےپور یناتسکاپ برا 7.3 ںیم 2025 یتایلام ۔ایگ وہ (ےپور یناتسکاپ برا 4.4 :2024) ےپور یناتسکاپ برا 6.1 رک ھڑب دصیف 39 عفانم گنٹیرپآ اک یناتسکاپ برا 1.1 ںیم جراچ سکیٹ ےس ہجو یک ذافن ےک سکیٹ رپس ،مہات ،یئآ یمک دصیف 31 یھب ںیم تاجارخا ہک وج ،ںیہ یہر اج یک رپ ٹیر ٹیکرام نپوا ںایگیئادا یدمآرد مامت ،لاحلا یف ۔اوہ ہفاضا اک ہدایز ےس ےپور حرش طسوا یک (SBP) ناتسکاپ فآ کنیب ٹیٹسا ےلاو ےنوہ لامعتسا ںیم ےلومراف ےک ںوتمیق یک تاعونصم ےب ہی یک نشیٹویپمک ںیم ںوتمیق یک تاعونصم ۔ںیہ ہدایز ےپور 3 ےس 2 ےس (weighted-average rate) ۔ےہ یترک رثاتم رپ روط ںایامن وک عفانم ےک ینپمک یگطباض

نارود ےک تدم ہدوجوم ےن رابوراک ےک گنٹیکرام لئآ ،ھتاس ےک ےعفانم ٹنمگیس ےک ےپور یناتسکاپ برا 1.3 ۔ایک ہرہاظم اک یگدرکراک یھچا دوجواب ےک دمآ یڑب یک تاعونصم ہدش لگمسا روا یدمآرد ںیم ٹیکرام

ےعفانم ہدش لیلحت | یداینب ےک صصح یف ےپور یناتسکاپ 0.30 ںیم تدم یسا یک لاس ہتشزگ ےن ینپمک ،اذہل ۔یک لصاح یندمآ ہدش لیلحت | یداینب یک صصح یف ےپور 0.54 ںیم ےلباقم ےک

(یسیلاپ) 2023 زیرنئافیر ڈلیف نؤارب | گنٹسیزگیا فآ نشی ڈیرگپا راف یسیلاپ گننئافیر لئآ ڈلیف نؤارب زیرنئافیر ہک ںیہ ےترک دیما مہ ۔ںیہ لمع مرگرس ھتاس ےک تموکح ےیل ےک ےنرک لح وک لئاسم قلعتم ےس ذافن ےک ےک ڈیرگ پا زیرنئافیر ہکات یگ ےرک مہارف لح راوگشوخ کیا روا یگ ےد ہجوت یروپ رپ ےلماعم سا تموکح ۔ںیکس رک عورش ےبوصنم

زرڈنیو | زرئالپس ،ںورادا یتایلام ،نیفراص لومشب ءاکرش ےک لمع یرابوراک ےرامہ روا ناتسکاپ تموکح ڈروب ۔ےہ اترک ادا ہیرکش ےس لد ہہت رپ نواعت ہدرک مہارف وک ینپمک ےس بناج یک زرڈلوہ رئیش روا

زرٹکیرئاڈ فآ ڈروب بناجنم و ےئارب

رٹکیرئاڈ رسیفآ وٹکیزگیا فیچ

یچارک

2026 یرورف 24

YOUSUF ADIL

PACE ALIBNE 0

INDEPENDENT AUDITORS! REVIEW REPORT.

To the members of Cnergylaq Pk Limited

Report on review of Unconzolldatad ño»de «ed Interim Fk+a siel Statements

Eye halve reviewedthe aooornoan g unconsolibaidd condensed interim statement of financial poaition of Cneñgylaa Pk Llfrglgd (th0 Comp) asai”Deaember3z. 2025 and the rtlaled nsotldatad. condensed Interim 6latGm8nl ol profii or losa: unoons0ildgtgd o0n4en0ed IntrYim stalen* rrt of comprehensive inca+we. unconsc4ldated condensed In1erlm”stBtament of Mangds. in eqwiTy, unccxnsolidated condenged Injgrim 9talgmént gf Cgsh ”]t4w6 and noles la the undonsolidated condensed -terlm fmanclal salcfrWt6 few Ma 6ix•months period shed ended {beret-after referred to BB the "con4enseé Intu‹m financial sla Is”). Hanapernent is responsible iér the preparation and preaenaMm or this C0nden0ed IntWim fmanciol staernin aooorclarice wrth accounting an-d regIng stenQards as pIIcab+e In Pak igtgfl f0c ha inlecim financial reporting. Our ‹eapon sibility Is to express a zoncIus+on m these oqnderi9Ed iI16efJM fir ancial statemena baaed on our review.

We coñduCtad our rerien in acEordafice wilh Intgzngligngl 9tgndard gn Revi4w Eneesements 741g - 'Révlgw pf Intgdm Financial informatIA Performed by the Independent Auditor of rhe Ents. A re •u. ' of tbe c0ndenaed interim financial 5tBtementB consists of makiag inquiries, primarily Of Persons reepons&Ie fer financial and accowcing matters and apptyfr*g Y1iñB dDd othef fgvi9W Bf6CgdUf99. A reYtdW IS 9Lb8t8nti8flg Iea8 in 8C0PB thg0 8FI 8MdIt O0nddC19d In 8CcordBnOP wllh iniemaiionai Stuldards on Aud”i1@g and oon”seq Iy does not enal:de.us o.ob1a in assurance shaL we wooId become gwzre of nil sionificent matters that might be in ap avdI Aooord•no1. we.do nor express en 8U#!t Ogl^r0FI.

Based or our review, nothing has oome Lo our attention lhat cau sea ua to believe that thB BDCDITI[B W§ dansad Interim fhzancief statements is n0 pra@‹ed, in ail mâ‹eiiai respects, Ia accordance wiih ‹he gccountlnq end repgrtlnq a‹andarda as ap@cable in Pakiasan fee the interim finarx:iaI reposing

Pursuant to the requirement of SecUxzn 237(1)(b) ol ihe Corr¥zanies Act, 2OT 7, only cu lativc figures for the ux-rnon1ft preyed in thg sgcond quarter ams are s&]ect to a limited scope renew by ihe s1atutory audit0fC 0! M4 company. Accordln y, the flqures ”of the condensed Interim sa‹< em ef profit yr loaa and c‹sndenaed inT9rim shaement of comprehensive ñtccime lor tha lhrce month6 period ended Deoembes 9l, @2g h9ve ng¥ k›eer reviewed by

The engagement partner on irié ra a' resuttlng in his”inoependenEejJgqgrg' revlgu/ report is H ena Sadiq.

PLME ahI

DATJD February 26. 2026

UDIH. RR202510057LTq3¥n -ca

The annexed notes 1 to 19 form an integral part of these unconsolidated condensed interim financial statements.

CNERGYICO PK LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

Note

Six months period ended Three months period ended December 31, December 31, December 31, December 31,

2025 2024 2025 2024

------------------------------ (Rupees in '000) ------------------------------

- Basic / diluted 0.54 0.30 0.65 0.59

The annexed notes 1 to 19 form an integral part of these unconsolidated condensed interim financial statements.

CNERGYICO PK LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

Six months period ended Three months period ended

------------------------------- (Rupees in '000) -------------------------------

Profit after taxation 2,967,156 1,652,738 3,556,626 3,251,001

Other comprehensive income - - - -

Total comprehensive income for the period 2,967,156 1,652,738 3,556,626 3,251,001

The annexed notes 1 to 19 form an integral part of these unconsolidated condensed interim financial statements.

CNERGYICO PK LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

Capital Reserve

Revenue

Reserve

Surplus on

Contribution

Issued,

subscribed and paid up capital

Merger Reserves

Other Capital Reserve

revaluation of operating fixed assets

Accumulated loss

Sub- total

from

shareholders

Total

--------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------

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The annexed notes 1 to 19 form an integral part of these unconsolidated condensed interim financial statements.

CNERGYICO PK LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

December 31, December 31,

December 31, December 31,

2025 2024

--------- (Rupees in '000) ---------

The annexed notes 1 to 19 form an integral part of these unconsolidated condensed interim financial statements.

CNERGYICO PK LIMITED

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS - (UNAUDITED) FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

1. LEGAL STATUS AND NATURE OF BUSINESS

   1. Cnergyico Pk Limited (the Company) was incorporated in Pakistan as a public limited company on January 09, 1995 under the Companies Act, 2017 (the Act) and was granted a certificate of commencement of business on March 13, 1995. The shares of the Company are listed on Pakistan Stock Exchange (PSX). The Company is a subsidiary of Bosicorco International Limited, Mauritius (the Holding Company). The Holding Company in turn is a subsidiary of Abasscico Busient Incorporated, Cayman Islands (the Ultimate Parent Company).

   2. The Company currently operates two business segments namely 1) Oil refinery business with two refineries with an aggregate rated capacity of 156,000 barrels per day (BPD) and 2) Petroleum marketing business which was formally launched in 2007 and is operated through 476 (June 30, 2025: 470) retail outlets across the country.

   3. Potential restructuring of the Company

      The Company made an announcement on PSX dated December 21, 2023 regarding potential scheme for restructuring of the Company (the Scheme). The draft scheme proposed potential corporate re-organisation

      / restructuring of the Company and its wholly owned subsidiaries, subject to completion and finalisation of the Scheme, obtaining all necessary members', creditors' and regulatory approvals, and the sanction of the Scheme by the High Court of Sindh at Karachi, along with fulfilment of related legal formalities in accordance with applicable laws. Through the said announcement the Board of Directors (the Board) of the Company in their meeting approved a draft scheme under section 279 to 283 and 285 of the Companies Act, 2017, to be entered into between the Company and its following wholly owned subsidiaries namely:

      i) Bosicorco ORB 1 (Private) Limited (ORB 1) ii) Bosicorco ORB 2 (Private) Limited (ORB 2) iii) Bosicorco OMB 1 (Private) Limited (OMB) iv) Bosicorco OSB 2 (Private) Limited (OSB) v) Bosicorco CPB 1 (Private) Limited (CPB) and vi) Cnergyico lsomerate PK (Private) Limited (ISOM) laid before the Board of Directors of the Company pertaining to the proposed scheme.

      In terms of the Scheme, it is intended, inter alia, that certain business units / undertakings of the Company shall be segregated and demerged / carved out from the Company, which undertakings (including the respective assets, liabilities and obligations comprising thereof) shall be merged with and into, and stand vested in, ORB 1, ORB 2, OMB, OSB and CPB respectively. Furthermore, ISOM, being a wholly owned subsidiary of the Company shall be merged with and into ORB 2.

      The Board has authorised the Company inter alia to finalise and execute the Scheme and file a petition before the High Court of Sindh, Karachi.

      The High Court of Sindh issued an order on February 6, 2024, mandating the conduct of meetings for the members and secured creditors of the Company. Accordingly meetings with the members and creditors were held on March 26, 2024 and November 26, 2024, during which said scheme of arrangement was placed before the members and creditors for consideration and approval, which was approved and adopted, along with modifications / amendments required or conditions imposed by the High Court of Sindh at Karachi.

2. BASIS OF PREPARATION

   1. Statement of compliance

      These unconsolidated 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 Standards (IAS 34), Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified by the Act ; and

      • Provisions of and directives issued under the Act.

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

   2. These unconsolidated condensed interim financial statements do not include all the information and disclosures required in annual unconsolidated financial statements and should be read in conjunction with the annual audited unconsolidated financial statements of the Company for the year ended June 30, 2025. These unconsolidated condensed interim financial statements are unaudited, however, the same have been subject to limited scope review by the statutory auditors of the Company, and are being submitted to the shareholders as required by the listing regulations of Pakistan Stock Exchange Limited and Section 237 of the Act.

   3. The figures of the unconsolidated condensed interim statement of profit or loss and unconsolidated 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 auditors of the Company, as they have reviewed the cumulative figures for the six months ended December 31, 2025 and December 31, 2024.

   4. These unconsolidated condensed interim financial statements are the separate condensed interim financial statements of the Company in which investment in subsidiary has been accounted for at cost less accumulated impairment losses (if any).

   5. These unconsolidated condensed interim financial statements is presented in Pakistan Rupees which is also the Company's functional currency and all financial information presented has been rounded off to the nearest thousand.

3. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

   1. The accounting policies and the methods of computation applied in the preparation of these unconsolidated condensed interim financial statements are the same as those applied in the preparation of the Company's annual audited unconsolidated financial statements as at and for the year ended June 30, 2025. Certain new IFRS and amendments to existing IFRS are effective for periods beginning on or after July 1, 2025, which do not have any impact on the Company's financial reporting and therefore have not been detailed in these unconsolidated condensed interim financial statements.

   2. The Company follows the practice of conducting actuarial valuation annually at the year end. Hence, the impact of re-measurement of post-employment benefit plans has not been incorporated in these unconsolidated condensed interim financial statements.

4. ACCOUNTING ESTIMATES AND JUDGEMENTS

   The preparation of these unconsolidated condensed interim financial statements in conformity with approved accounting standards requires management to make estimates, assumptions and use judgements that affect the application of policies and reported amounts of assets and liabilities and income and expenses. Estimates, assumptions and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Revisions to accounting estimates are recognised prospectively commencing from the period of revision.

   Estimates and judgements made by the management in the preparation of these unconsolidated condensed interim financial statements are the same as those that were applied to the annual unconsolidated financial statements of the Company for the year ended June 30, 2025, except as disclosed otherwise.

   (Un-audited)	(Audited)
   December 31,	June 30,
   2025	2025

5. PROPERTY, PLANT AND EQUIPMENT

Note

-------- (Rupees in '000) ---------

Operating fixed assets 5.1 239,259,024 242,504,615

Capital work-in-progress (CWIP) 5.2 46,205,834 44,227,161

Right-of-use assets 5.3 1,263,577 1,184,807

286,728,435 287,916,583

1. During the period, the additions in capital work-in-progress (CWIP) amounted to Rs. 2,033.307 million (December 31, 2024: Rs. 1,855.207 million). Transfer from CWIP to operating fixed assets amounted to Rs. 54.633 million (December 31, 2024: Rs. 31.095 million).

2. During the period, the additions in right-of-use assets amounted to Rs. 242.965 million (December 31, 2024: Rs. 8.9 million). The additions have resulted in increase in corresponding lease liability of Rs. 242.965 million.

Note

(Un-audited) (Audited)

December 31, June 30,

2025 2025

--------- (Rupees in '000) ----------

1. This represents investment in Cnergyico Isomerate Pk (Private) Limited (CIPPL), a wholly owned subsidiary, of 1,693,150,430 shares (June 30, 2025: 1,693,150,430 shares) of Rs. 10 each. CIPPL is principally engaged in blending, refining and processing of petroleum naphtha to produce petroleum products such as premium motor gasoline.

2. This represents investment in Bosicorco OSB 1 (Private) Limited (BOSBPL), a subsidiary, of 121,964,601 shares (June 30, 2025: 121,964,601 shares) of Rs. 10 each. BOSBPL is principally engaged in serving as a mooring point for offloading liquid products through the Single Buoy Mooring (SBM).

3. Other wholly owned subsidiaries

This includes Bosicorco ORB 1 (Private) Limited, Bosicorco ORB 2 (Private) Limited, Bosicorco OSB 2 (Private) Limited, Bosicorco CPB 1, Bosicorco OMB 1 (Private) Limited and Bosicorco Essential Service (Private) Limited with paid-up capital of 10,000 shares each having face value of Rs. 10. The company holds 100% paid up capital of these subsidiaries.

1. This includes raw material in transit amounting to Rs. 21,027.763 million (June 30, 2025: Rs. 14,542.093 million).

2. Finished Product has been written down by Rs. 244.684 million (June 30, 2025: Rs. 4.42 million) to net realisable value.

3. This includes finished products held by third parties amounting to Rs. 8,165.926 million (June 30, 2025: Rs. 7,395.131 million).

1. TRADE DEBTS

   Note

   (Un-audited) (Audited)

   December 31, June 30,

   2025 2025

   --------- (Rupees in '000) ----------

   Considered good - unsecured 30,206,734 25,026,588 Considered doubtful 12,200,854 12,200,854

   42,407,588 37,227,442

   Allowance for expected credit losses 8.1 (12,200,854) (12,200,854)

   30,206,734 25,026,588

   1. Allowance for expected credit losses

Opening balance 12,200,854 11,684,804

For the period / year - 516,050

Closing balance 12,200,854 12,200,854

1. This represents receivable from CIPPL - wholly owned subsidiary against expenses incurred on behalf of CIPPL.

2. BOSBPL is a subsidiary of the Company and this balance represents expenses incurred by the Company on behalf of BOSBPL. The outstanding balance is being adjusted against the cost payable to BOSBPL on account of usage of buoy.

3. SSSPL is an indirect subsidiary of the Company through Bosicorco Essential Service (Private) Limited and this balance represents the receivable in repect of expenses incurred on behalf of SSSPL after netting off security services received from SSSPL.

10.1

10.2

The facilities have been extended by commercial banks for import and procurement of crude oil and petroleum products aggregating to Rs. 19,880 million (June 30, 2025: Rs. 19,880 million) out of which Rs. 8,736 million (June 30, 2025: Rs. 10,883 million) remains unutilised as at the reporting date. The facility carries mark up ranging from 1 month's KIBOR plus 1% to 1.5% (June 30, 2025: 1 month's KIBOR plus 1% to 2%). These facilities are secured under joint pari passu (JPP) arrangement having charge on the Company's current and operating fixed assets.

The Company has obtained running finance facility amounting to Rs. 1,600 million (June 30, 2025: Rs. 1,600 million) from a commercial bank. The facility carries mark-up at the rate of three months KIBOR + 2% (June 30, 2025: three months KIBOR + 2%) per annum. The facility is secured by way of first pari passu hypothecation charge of overall present and future current and operating fixed assets of the Company.

(Un-audited) (Audited)

December 31, June 30,

2025 2025

--------- (Rupees in '000) ----------

There were no material changes in the status of contingencies from what is disclosed in note 27 to the annual audited unconsolidated financial statements for the year ended June 30, 2025.

12.2 Commitments

The status for commitments is same as disclosed in annual audited unconsolidated financial statements for the year ended June 30, 2025 except for following:

(Un-audited) (Audited)

December 31, June 30,

2025 2025

--------- (Rupees in '000) ----------

Commitments for capital expenditure 5,107,365 6,178,331

1. TRANSACTIONS AND BALANCES WITH RELATED PARTIES

   Related parties comprise of ultimate parent company, parent company, subsidiary companies and associated companies, directors, key management personnel, staff provident fund and staff gratuity fund. Transactions with related parties during the period, other than those which have been disclosed elsewhere in these unconsolidated condensed interim financial statements, are as follows:

   1. Transactions with related parties during the period:

      (Un-audited) (Un-audited)

      December 31, December 31,

      2025 2024

      --------- (Rupees in '000) ----------

      Subsidiary Companies:
      Rent	201	201
      Services	423,729	54,284
      Markup charged	38,331	41,327
      Buoy charges - Net right of way	361,947	165,472
      Associated companies: Sales	6,115,154	-
      Purchases	18,152,991	3,711,500
      Markup charged
      - secured	188,366	328,118
      - unsecured	241,634	330,839
      Others
      Retirement benefit funds	142,347	85,044
      Key management personnel	222,525	226,754

   2. Balances with related parties

      (Un-audited) (Audited)

      December 31, June 30,

      2025 2025

      --------- (Rupees in '000) ----------

      Parent Company

      Contribution from shareholder 5,276,392 5,276,392

      Subsidiary Companies

      Receivable against expenses incurred	1,653,822	1,682,101
      Loans and advances	758,780	728,780
      Payable against services	105,947	58,288
      Associated Companies Accrued mark-up payable - secured	74,857	119,378
      Loan payable - secured	1,650,000	1,750,000
      Contribution from shareholder	20,479,939	20,479,939
      Short-term borrowings	635,623	1,914,281
      Payable against purchases and services	13,168,694	4,133,177
      Others
      Payable to key management person	-	93
      Payable to post employment benefit funds	1,464,420	1,320,213

2. FINANCIAL RISK MANAGEMENT, OBJECTIVES AND POLICIES

   The Company’s activities expose it to a variety of financial risks. There have been no changes in any risk management policies since the year end.

3. FAIR VALUE OF ASSETS AND LIABILITIES

   `

   Fair value is the price that would be received to sell an asset or paid or transfer a liability in an orderly transaction between market participants at measurement date. Consequently, differences can arise between carrying values and the fair value estimates.

   Fair value hierarchy

   The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable.

   Level 1: Fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities.

   Level 2: Fair value measurements are those derived from 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: Fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

   As at December 31, 2025, the Company has no financial instruments that are measured at fair value in the unconsolidated statement of financial position.

4. OPERATING SEGMENTS

   For management purposes, the Company has determined following reportable operating segments on the basis of business activities i.e. oil refining and petroleum marketing. Oil refining business is engaged in crude oil refining and selling of refined petroleum products to oil marketing companies. Petroleum marketing business is engaged in trading of petroleum products, procuring products from oil refining business as well as from other sources.

   Transfer prices between operating segments are at agreed terms duly approved by the Board.

   The quantitative data for segments is given below:

   Oil Refining

   Petroleum Marketing

   Total

   December 31,

   2025

   December

   31, 2024

   December 31,

   2025

   December

   31, 2024

   December 31,

   2025

   December

   31, 2024

   ------------------------------------------------ (Rupees in '000) --------------------------------------------

   Sales to external customers	86,510,842	91,026,420	59,770,399	52,464,312	146,281,241	143,490,732
   Inter-segment sales	57,601,588	50,954,707	-	-	57,601,588	50,954,707
   Eliminations	(57,601,588)	(50,954,707)	-	-	(57,601,588)	(50,954,707)
   Revenue from contract with customers - net	86,510,842	91,026,420	59,770,399	52,464,312	146,281,241	143,490,732
   Result
   Segment profit	4,710,569	3,119,346	1,335,240	1,355,009	6,045,809	4,474,355
   Unallocated expenses:
   Finance costs					(1,690,252)	(2,452,992)
   Other expenses					-	(257,286)
   Interest income					70,220	190,021
   Minimum taxes					(810,995)	(759,941)

   Income tax (647,626) 458,581

   Profit after taxation 2,967,156 1,652,738

   Oil Refining

   Petroleum Marketing

   Total

   December 31,

   2025

   December 31,

   2024

   December 31,

   2025

   December 31, 2024

   December 31,

   2025

   December 31, 2024

   ------------------------------------------------- (Rupees in '000) ---------------------------------------------

   Segment assets	395,386,165	366,185,784	1,982,022	1,098,993	397,368,187	367,284,777
   Segment liabilities	190,594,719	159,757,306	1,563,444	754,455	192,158,163	160,511,761
   Capital expenditure	2,029,600	1,864,140	3,707	20,668	2,033,307	1,884,808
   Other information Depreciation / amortization	3,373,807	3,337,675	94,107	89,405	3,467,914	3,427,080

   All non-current assets of the Company as at December 31, 2025 and 2024 are located in Pakistan.

   1. This includes export sales amounting to Rs. Rs. 15,917.751 million (December 31, 2024: Rs. 8,497.404 million).

5. DISCLOSURE REQUIREMENTS FOR SHARIAH COMPLIANT COMPANIES

   As per the requirements of the fourth schedule to the Act, Shariah compliant companies and companies listed on the Islamic Index shall disclose the following:

   (Un-audited) (Audited)

   December 31,

   2025

   June 30,

   2025

   -------- (Rupees in '000) ---------

   Long term shariah compliant investments	18,169,968	18,169,968
   Shariah Compliant Bank Balances	146,247	358,094
   Accured markup on conventional loans	1,140,531	1,661,730
   	(Un-audited) December 31,	(Un-audited) December
   	2025	31, 2024

   -------- (Rupees in '000) ---------

   Revenue from Shariah Compliant business segments	146,281,241	143,490,732
   Profit earned from Shariah-compliant bank balances	23,773	115,934
   Finance costs on conventional mode of financing	1,323,887	1,931,267

   The Company has relationship with Askari Bank Limited, Bank Islami Pakistan Limited, Al Baraka Bank, United Bank Limited, Dubai Islamic Bank Pakistan Limited, Meezan Bank, Faysal Bank and Bank of Punjab being Islamic Banks.

6. GENERAL

   1. Figures in these unconsolidated condensed interim financial statements have been rounded off to the nearest thousand rupees unless otherwise stated.

7. DATE OF AUTHORISATION FOR ISSUE

These unconsolidated condensed interim financial statements were authorised for issue on February 24, 2026 by the Board of Directors of the Company.

CNERGYICO PK LIMITED

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

ASSETS Notes

(Un-audited) (Audited)

December 31, June 30,

2025 2025

----------(Rupees in '000)------------

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

CNERGYICO PK LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT (UN-AUDITED) FOR THE PERIOD ENDED DECEMBER 31, 2025

Six months period ended Three months period ended December 31, December 31, December 31, December 31,

2025 2024 2025 2024

------------------------ (Rupees in ‘000) ------------------------

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

CNERGYICO PK LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT OF OTHER COMPREHENSIVE INCOME (UN-AUDITED) FOR THE PERIOD ENDED DECEMBER 31, 2025

Six months period ended Three months period ended

----------(Rupees in '000)----------

Profit after taxation 2,750,579 1,242,941 3,543,279 3,062,849 Other comprehensive income - - - -Total comprehensive Income for the period 2,750,579 1,242,941 3,543,279 3,062,849

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

CNERGYICO PK LIMITED

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

Capital Reserve Revenue Reserve

Contribution

Non-

Issued,

subscribed and paid up capital

Merger Reserves

Other Capital Reserve

Surplus on

revaluation of operating assets

Accumulated

Loss

Sub- total

from shareholder s

Controlling Interest -NCI

Total

-------------------------------------------------(Rupees in ‘000)-------------------------------------------------

30 | P a g e

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