Transmission of Quarterly Report for the Third Quarter ended September 30, 2025

THIRD QUARTER

ENDED SEPTEMBER 30, 2025

UN-AUDITED FINANCIAL STATEMENTS

Corporate Information 2

Unconsolidated Financial Statements

Directors' Review 4

Condensed Interim Unconsolidated Statement of Financial Position 15

Condensed Interim Unconsolidated Statement of Profit and Loss Account 16

Condensed Interim Unconsolidated Statement of Comprehensive Income 17

Condensed Interim Unconsolidated Statement of Changes in Equity 18

Condensed Interim Unconsolidated Cash Flow Statement 19

Notes to the Condensed Interim Unconsolidated Financial Statements 20

Consolidated Financial Statements

Directors' Review 49

Condensed Interim Consolidated Statement of Financial Position 58

Condensed Interim Consolidated Statement of Profit and Loss Account 59

Condensed Interim Consolidated Statement of Comprehensive Income 60

Condensed Interim Consolidated Statement of Changes in Equity 61

Condensed Interim Consolidated Cash Flow Statement 62

Notes to the Condensed Interim Consolidated Financial Statements 63

Mian Muhammad Younis Chairman

Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Vice Chairman

Mr. Abdulelah Ebrahim Mohamed AlQasimi Non-Executive Director Mr. Imtiaz Ahmad Pervez Non-Executive Director

Mr. Juma Hasan Ali Abul Non-Executive Director

Mr. Mohamed Ahmed Bucheerei Non-Executive Director

Mr. Ali Munir Independent Director

Ms. Fatima Asad Khan Independent Director

Mr. Mohsin Tariq Independent Director

Ms. Sadia Khan Independent Director

Mr. Yousaf Hussain President & CEO

Mr. Ali Munir Chairman

Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Member Mr. Juma Hasan Ali Abul Member

Mr. Mohsin Tariq Member

Mr. Imtiaz Ahmad Pervez Chairman

Mr. Abdulelah Ebrahim Mohamed AlQasimi Member

Mr. Ali Munir Member

Mr. Mohamed Ahmed Bucheerei Member

Mr. Yousaf Hussain Member

Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Chairman Ms. Fatima Asad Khan Member

Mr. Juma Hasan Ali Abul Member

Mr. Mohsin Tariq Member

Ms. Sadia Khan Member

Mian Muhammad Younis Chairman Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Member Ms. Fatima Asad Khan Member

Mr. Imtiaz Ahmad Pervez Member

Mr. Juma Hasan Ali Abul Member

Mr. Yousaf Hussain Member

Ms. Sadia Khan Chairperson

Mr. Abdulelah Ebrahim Mohamed AlQasimi Member

Mr. Mohamed Ahmed Bucheerei Member

Mr. Yousaf Hussain Member

Mian Muhammad Younis Chairman

Mr. Abdulelah Ebrahim Mohamed AlQasimi Member

Ms. Fatima Asad Khan Member

Ms. Sadia Khan Member

Mr. Yousaf Hussain Member

Mufti Muhammad Mohib-ul-Haq Siddiqui Chairperson Shariah Board

Dr. Mufti Khalil Ahmad Aazami Member Shariah Board

Mufti Muhammad Najeeb Khan Member Shariah Board

Dr. Mufti Hassan Ashraf Usmani Member Shariah Board

Mufti Muhammad Uzair Qasim Member Shariah Board

Mufti Abdul Basit Resident Shariah Board Member

Faysal Bank Limited CDC Share Registrar Services Limited

Faysal House, St-02, Commercial Lane, CDC House, 99-B, Block-B,

Main Shahrah-e-Faisal, SMCHS, Main Shahrah-e-Faisal,

Karachi, Pakistan Karachi-74400

UAN : (92-21) 111-747-747 Tel : (92-21) 111-111-500

Tel : (92-21) 3279-5200 Fax : (92-21) 34326053

Fax : (92-21) 3279-5226 Email : info@cdcsrsl.com Website : https://www.faysalbank.com

Note: The State Bank of Pakistan has accorded the Fit & Proper approval to the above-mentioned Members of the Board of Directors and accordingly, the said Directors have assumed their responsibilities as the directors.

DIRECTORS' REVIEW

On behalf of the Board of Directors, we are pleased to present the Directors' Review along with the unaudited condensed interim financial statements of Faysal Bank Limited ("FBL" hereafter called "the Bank") for the nine months ended September 30, 2025.

FBL was incorporated in Pakistan on October 03, 1994, as a public limited company and its shares are listed on Pakistan Stock Exchange. FBL offers a wide range of Islamic banking services to all customer segments, i.e., Retail, Small & Medium Sized Enterprises, Commercial, Agri-based, and Corporate.

The Bank surrendered its conventional banking license on 31 December 2022 and effective 01 January 2023 began its fully shariah-compliant operations under an Islamic Banking License issued by the State Bank of Pakistan (SBP). Its footprint spreads over 340 cities across the country with 855 branches offering sharia-compliant banking services.

Ithmaar Bank B.S.C (closed), a banking entity regulated by the Central Bank of Bahrain, is the parent company holding directly and indirectly 66.78% (2024: 66.78%) of the Bank's shares. Ithmaar Bank B.S.C. (closed) is a wholly owned subsidiary of Ithmaar Holdings B.S.C. Dar Al-Maal Al-Islami Trust (DMIT) is the holding entity of Ithmaar Holding B.S.C. and the ultimate parent Company of the Bank. DMIT was formed by an indenture under the laws of the Commonwealth of The Bahamas for the purpose of conducting business affairs in conformity with Islamic laws, principles, and traditions.

Pakistan's economy navigated the third quarter of 2025 with a balance of resilience and emerging challenges. Despite significant flood damage to crops and infrastructure, subdued inflation, continued remittance flows, and strong investor sentiment supported macroeconomic stability. GDP growth for fiscal year 2025 was at 3.04%, a performance that, while modest, reflects a steady trajectory after years of economic turbulence.

Industrial output expanded by 4.77%, benefiting from lower financing costs and renewed drive. Large-scale manufacturing, however, remained under pressure. The services sector registered growth of 2.91%, bolstered by healthy contributions from trade, transport, and communications. In contrast, agriculture remained a source of concern, expanding by 0.56% due to productivity issues which led to weak crop yield.

Inflation showed moderation as headline inflation averaged 4.5% for FY25 compared to 23.4% in the previous year, marking one of the steepest disinflations in recent history. The decline in inflation also provided reasonable space for policy flexibility, enabling the authorities to balance growth imperatives with external vulnerabilities.

The KSE-100 Index climbed by over 30% in Q3'25, closing at all-time high 165,493 points. The rally was driven largely by institutional buying, as foreign outflows were offset by local participation. The market's resilience highlighted improving domestic confidence in Pakistan's economic outlook.

The fiscal deficit, with a prudent expenditure management, showed consolidation was reduced to 5.4% against 6.9% last year. This strong performance was complemented by a primary surplus of 2.4% of GDP-more than double the previous year's 0.9%. These developments signaled a stronger capacity for debt sustainability and improved investor confidence in Pakistan's macroeconomic trajectory.

The external account also presented a good trajectory. A current account surplus of $2.1 billion was recorded in FY25, supported by robust remittances and a modest uptick in exports. Diaspora inflows once again emerged as a vital lifeline, underscoring the strategic importance of strengthening formal remittance channels.

During the year, Pakistan's sovereign credit rating was upgraded to "B-" with stable outlook by S&P. The upgrade reflects growing confidence in Pakistan's economic stability and reform progress. The State Bank of Pakistan (SBP) maintained the policy rate at 11% in September 2025. This decision reflected a balance between sustaining recovery and safeguarding external stability amid persistent global uncertainties.

Looking ahead, sustaining the current economic momentum will rely on continued policy consistency, timely realization of foreign inflows, and implementation of structural reforms to broaden the growth base. Keeping inflation in check remains essential to maintaining macroeconomic stability and allowing room for a more accommodative monetary policy stance. Concurrently, progress in export diversification, financial inclusion, and agricultural modernization will be critical for enhancing resilience against external shocks. The quarter's performance indicates that Pakistan's macroeconomic fundamentals have strengthened; the key challenge now is to translate this stability into durable and inclusive growth that benefits all segments of society.

A detailed review of the Bank's performance is given in the following paragraphs:

PKR in million

On a standalone basis, Profit Before Tax (PBT) is at PKR 32.8 billion, reflecting resilient performance despite a challenging macro-economic environment. Profit After Tax (PAT) stood at PKR 15 billion, impacted by an increase in the tax rate from 49% to 53%. Earnings Per Share decreased from PKR 13.02 to PKR 9.89.

Total revenue stood at PKR 70.2 billion in 9M'25, while this represents a decline of 3.1% over same period last year. It also reflects the Bank's ability to maintain strong topline momentum despite a sharp reduction in policy rates and introduction of Minimum Deposit Rate (MDR) on savings deposits effective January 1, 2025. Net spreads earned were PKR 52.1 billion, with the impact of margin compression partially offset by strong growth in current deposits, which increased by PKR 146 billion (38.1%) YoY.

Non-fund income remained a key source of revenue, depicting strong growth of 47.2% rising to PKR 18.1 billion in 9M'25. Fee and commission income has a robust growth of 26.1%, reaching PKR 9.5 billion, while foreign exchange income remained resilient, growing by 71.1%, to PKR

5.8 billion. During this period, the net gain on securities witnessed jump of 219.7% compared to the same period last year. Additionally, the Bank has also realized gain (net of tax) of PKR 1.1 billion on equity securities booked in equity during 9M'25, compared to PKR 0.2 billion in same period last year.

The Bank's total expenses increased by 18.6% over September 2024, driven by inflation and the full year impact of an expanded branch network. There is, however, a net reversal of PKR

4.2 billion in provisions compared to PKR 1.4 billion in September 2024. Asset quality continued to improve with the NPL ratio declining to 2.9% as compared to 3.6% as at Dec'24. The total coverage ratio stands at 96.8% as of September 2025.

FBL's total assets continued to grow, reaching PKR 1.7 trillion, driven by strong deposit mobilization. The upward trend in Current Accounts seen over the past few years continued, taking them to PKR 528 billion i.e. 29.4% growth over December 2024. Total deposits also

increased by 22.1% over December 2024 and are at PKR 1.3 trillion. Current Account (CA) mix improved to 41.4% from 39.1% in December 2024 and CASA ratio improved to 87.0% from 85.5%. FBL's net financing increased by 14.5% to PKR 726 billion and ADR moderated to 56.9% in September 2025 from 60.7% in December 2024. Investments increased by 3.9% and reached PKR 704 billion.

Looking ahead, we are cognizant of the intense competition and spreads compression due to decline in the policy rate and introduction of Minimum Deposit Rate (MDR) on saving accounts of Islamic banks. Despite these emerging challenges, we are confident that, through FBL's prudent financial management and strategic foresight, the Bank will, Insha'Allah, continue to navigate the evolving environment effectively and sustain its growth trajectory.

As part of our strategic vision, we are committed to expanding our branch network to strengthen deposit mobilization and improve customer reach. Simultaneously, we are focusing on improving customer experience through streamlining processes and investing in digital solutions that will elevate our digital offerings and enrich overall customer experience.

In line with our focus on long-term sustainability, we will continue to invest in our workforce, fostering an environment that upholds our core values of Faith, Integrity, Teamwork, Innovation, and Care. Our sustainability agenda also includes minimizing our environmental impact and making meaningful contributions to the communities we serve. By prioritizing these principles, we aim to strengthen our position in the market and serve the evolving needs of our customers.

VIS Credit Rating Company Limited (VIS) has upgraded the entity's rating, while Pakistan Credit Rating Agency Limited (PACRA) have re-affirmed the rating as follows:

VIS has assigned a 'Stable' outlook, while PACRA has upgraded the outlook to 'Positive'.

We are pleased to announce that the Board of Directors, in their meeting held on October 23, 2025, declared an interim cash dividend of Rs 1.50 per share (15%). This is in addition to Rs 3.0 per share already paid during the period bringing the total dividend for the period to Rs 4.50 (2024: Rs 4.50).

On behalf of the Board and the Management, we extend gratitude to our esteemed shareholders for their unwavering support. We are indebted to our customers for their continuous confidence and trust. We also would like to place on record our appreciation for the Government of Pakistan, the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan for their continued support and guidance, for developing and strengthening the banking and financial services sector through continuous improvement in the regulatory and governance framework.

As always, we would also like to express sincere appreciation for the Shariah Board. We wish to express our heartfelt appreciation to every member of our dedicated team for their tireless efforts and unwavering commitment to enhance the growth of FBL. Above all, we humbly express our profound gratitude to Allah Almighty for His continued blessings and guidance upon our Bank and all its members.

In compliance with the requirement of the Companies Act, 2017, this Directors' Report with the recommendations of the Board Audit and Corporate Governance Committee has been approved by the Directors in their meeting held on October 23, 2025, and signed by the Chief Executive Officer and Chairman.

President & CEO Chairman

Karachi

Dated: October 23, 2025

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Condensed Interim Unconsolidated Statement of Financial Position

As at September 30, 2025

Note

Rupees in '000

The annexed notes 1 to 42 form an integral part of these condensed interim unconsolidated financial statements.

Condensed Interim Unconsolidated Statement of Profit and Loss Account (Un-audited)

For the quarter and nine months ended September 30, 2025

Quarter ended Nine months ended Note September 30, September 30, September 30, September 30,

Profit / return earned 26

Profit / return expensed 27

Net profit / return

Fee and commission income 28

Dividend income

Foreign exchange income Income / (loss) from derivatives

Gain on securities - net 29

Net loss on derecognition of financial assets

measured at amortised cost 16.1

Other income 30

Total other income Total income OTHER EXPENSES

Operating expenses 31

Workers welfare fund

Other charges 32

Total other expenses

Profit before credit loss allowance

Reversal of credit loss allowance and write offs - net 33

Extra ordinary / unusual items

Taxation 34

(Restated)

Rupees '000

56,756,315

35,096,897 21,659,418

3,329,147

24,988,565

12,659,370

12,329,195

(561,573)

-12,890,768

6,392,882

6,497,886

3.29

Rupees

4.28

9.89

(Restated)

176,977,037

116,874,594 60,102,443

12,328,226

72,430,669

35,076,358

37,354,311

(1,362,914)

-38,717,225

18,952,994

19,764,231

13.02

The annexed notes 1 to 42 form an integral part of these condensed interim unconsolidated financial statements.

Condensed Interim Unconsolidated Statement of Comprehensive Income (Un-audited)

For the quarter and nine months ended September 30, 2025

Quarter ended Nine months ended September 30, September 30, September 30, September 30, 2025 2024 2025 2024

Rupees '000

Profit after taxation for the period

Items that may be reclassified to the profit and loss account in subsequent periods:

Movement in (deficit) / surplus on revaluation of debt investments through FVOCI - net of tax

Items that will not be reclassified to the profit and loss account in subsequent periods:

Movement in surplus / (deficit) on revaluation of equity investments - net of tax

Movement in surplus on revaluation of property and equipment - net of tax

Movement in deficit on revaluation of non-banking assets - net of tax

6,497,886

7,348,192

(277,774)

13,568,304

19,764,231

6,063,144

(76,422)

25,750,953

The annexed notes 1 to 42 form an integral part of these condensed interim unconsolidated financial statements.

Condensed Interim Unconsolidated Statement of Changes In Equity

For the nine months ended September 30, 2025

Reserves

Rupees '000

Other comprehensive (loss) / income through FVOCI - net of tax through FVOCI - net of tax

The annexed notes 1 to 42 form an integral part of these condensed interim unconsolidated financial statements.

Condensed Interim Unconsolidated Cash Flow Statement (Un-audited)

For the nine months ended September 30, 2025

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation Less: dividend income

Net profit / return income

Note

(Restated)

Rupees in '000

38,717,225

(312,831)

38,404,394

Depreciation on owned property and equipment 31

Depreciation on right-of-use assets 31

Depreciation on non-banking assets 31

Amortisation of intangible assets 31

Workers welfare fund

Reversal of credit loss allowance and write offs - net 33

Unrealised gain - FVTPL 29

Net loss on derecognition of financial assets measured at amortised cost 16.1

Gain on sale of Property and equipment - net 30

Gain on termination of leases (IFRS 16) 30

(60,102,443)

2,265,107

1,521,244

1,970

306,184

790,147

(1,135,281)

(6,767)

165,256

(10,621)

(65,819)

265,040

3,786

Charge for defined benefit plan (Gain) / loss from derivative contracts

(20,000,000)

5,168,880

63,523,794

(14,952,416)

Due from financial institutions Securities classified as FVTPL Islamic financing and related assets

Others assets (excluding advance taxation)

(2,918,590)

(88,827,751)

146,014,461

16,200,845

Bills Payable

Due to financial institutions Deposits

Other liabilities (excluding current taxation)

Income tax paid

Profit / return received Profit / return paid Contribution to gratuity fund

CASH FLOWS FROM INVESTING ACTIVITIES

(726,754)

(54,859,607)

(1,000,000)

1,514,509

277,775

(11,871,150)

(322,243)

12,323

Net divestments / (investments) in amortized cost securities Net investments in securities classified as FVOCI

Net investments in subsidiary Net divestments in associates Dividends received

Investment in property and equipment Investment in intangible assets

Disposal proceeds of property and equipment

CASH FLOWS FROM FINANCING ACTIVITIES

(2,432,109)

(14,168,285)

Payment of lease liabilities against right-of-use assets Dividend paid

83,634,070

84,808

Cash and cash equivalents at the beginning of the period Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at the beginning of the period

The annexed notes 1 to 42 form an integral part of these condensed interim unconsolidated financial statements.

(56,002,197)

(17,597,803)

33,740,258

70,468,965

(24,488,271)

156,292,105

(114,199,396)

(174,234)

104,041,624

(66,975,147)

(16,600,394)

20,466,083

83,718,878

104,184,961

1. STATUS AND NATURE OF BUSINESS

   1. Faysal Bank Limited (the Bank) was incorporated in Pakistan on October 3, 1994 as a public limited company under the provisions of the repealed Companies Ordinance, 1984 (now the Companies Act, 2017). Its shares are listed on the Pakistan Stock Exchange Limited. The Bank is engaged in Shariah compliant modern Corporate, Commercial and Consumer banking activities. The Bank is operating through 855 branches (December 31, 2024: 855 branches) including 2 sub-branches (December 31, 2024: 2 sub-branches).

      The Registered Office of the Bank is located at Faysal House, ST-02, Shahrah-e-Faisal, Karachi.

      Ithmaar Bank B.S.C (closed), a fully owned subsidiary of Ithmaar Holdings B.S.C is the parent company of the Bank, holding directly and indirectly 66.78% (December 31, 2024: 66.78%) of the shareholding of the Bank. Dar Al-Maal Al-Islami Trust (DMIT), (ultimate parent of the Bank) is the holding company of Ithmaar Holdings B.S.C.

   2. Based on the financial statements of the Bank for the year ended December 31, 2024, the VIS Credit Rating Company Limited has upgraded the Bank's medium to long-term as 'AA+' and reaffirmed the short-term rating as "A1+" on June 30, 2025. The Pakistan Credit Rating Agency Limited (PACRA) have reaffirmed the Bank's long-term rating as 'AA' and the short term rating as 'A1+ on June 24, 2025.

2. BASIS OF PRESENTATION

   1. The Bank provides financing mainly through Murabaha, Musawammah, Istisna and other Islamic modes as briefly explained in note 6.8 to the annual audited unconsolidated financial statements for the year ended December 31, 2024.

      The purchases and sales arising under these arrangements are not reflected in these condensed interim unconsolidated financial statements as such but are restricted to the amount of facility actually utilized and the appropriate portion of profit thereon. The income on such financing is recognised in accordance with the principles of Islamic Shariah. However, income, if any, received which does not comply with the principles of Islamic Shariah is recognised as charity payable if so directed by the Shariah Board of the Bank.

   2. The Bank has controlling interest in Faysal Asset Management Limited (FAML) and Faysal Islami Currency Exchange Company (Private) Limited and is required to prepare consolidated financial statements under the provisions of the Companies Act, 2017. These condensed interim financial statements represent the unconsolidated results of the Bank and a separate set of condensed interim consolidated financial statements are also being presented by the Bank.

3. STATEMENT OF COMPLIANCE

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

      • Islamic Financial Accounting standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan as are notified under the Companies Act, 2017;

      • Provisions of, and directives issued under the Banking Companies Ordinance, 1962 and the Companies Act, 2017; and

      • Directives issued by the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP).

      Whenever the requirements of the Banking Companies Ordinance, 1962, the Companies Act, 2017 or the directives issued by the SBP and the SECP differ with the requirements of IFRS or IFAS, the requirements of the Banking Companies Ordinance, 1962, the Companies Act, 2017 and the said directives shall prevail.

      The State Bank of Pakistan (SBP) has adopted requirements of IFRS 9 along with the application instructions through BPRD Circular No. 07 of 2023, dated April 13, 2023, but deferred certain requirements. Islamic

      banking institutions have been allowed to follow Islamic Financial Accounting Standards (IFAS) 1 & 2 where applicable and continue existing accounting practices for other Islamic products until further instructions. The impact of profit of financing in advance stage is Rs. 2,467 million excluding any Effective yield rate (EIR) effect as the Bank has received deferment of recording income and expense at EIR via letter from SBP till December 31, 2025. Consequently, these deferred requirements of IFRS 9 have not been considered in the preparation of these condensed interim unconsolidated financial statements.

   2. As per the directive of the SBP through its letter BPRD (R&P-02)/625-99/2011/3744 dated March 28, 2011, gain arising on bargain purchase of Pakistan operations of Royal Bank of Scotland (ex-RBS Pakistan) was credited directly into equity as Non-distributable Capital Reserve (NCR). The SBP allowed the Bank to adjust the amortisation of intangible assets against the portion of reserve which arose on account of such assets identified as a result of such acquisition. Accordingly, during the period ended September 30, 2025, the Bank has adjusted amortisation of intangible assets net of tax amounting to Rs. 24.474 million (period ended September 30, 2024: Rs. 31.415 million) from the NCR.

   3. These condensed interim unconsolidated financial statements do not include all the information and disclosures required in the annual audited unconsolidated financial statements, and are limited based on the format prescribed by the State Bank of Pakistan through BPRD Circular Letter No. 2 of 2023 dated February 9, 2023 and IAS 34 and should be read in conjunction with the annual unconsolidated financial statements for the financial year ended December 31, 2024.

   4. Standards, interpretations of and amendments to the published accounting and reporting standards that are effective in the current period

      1. There are certain new and amended standards, interpretations and amendments that are mandatory for the Bank's accounting periods beginning on January 1, 2025 but are considered not to be relevant or do not have any significant effect on the Bank's operations are therefore not detailed in these condensed interim unconsolidated financial statements.

   5. Standards, interpretations of and amendments to the published accounting and reporting standards that are not yet effective

      SECP vide S.R.O. 742 (I)/2025 (dated April 16, 2025) notified that International Financial Reporting Standard (IFRS)-7, 'Financial Instruments: Disclosures' shall be followed by Banks, for the preparation of financial statements, from the annual reporting periods beginning on or after January 1, 2026 (earlier application is permitted).

      1. The following revised standards, amendments and interpretations with respect to the accounting and reporting standards would be effective from the dates mentioned below against the respective standards, amendments or interpretations:

         Standards, interpretations or amendments

         • Amendments to IFRS 9 Financial Instruments

         • Amendments to IFRS 10 and IAS 28 - Sale or contribution of assets between an investor and its associates or joint venture

         • Amendments to IFRS 7 Financial Instruments : Disclosures and accompanying guidance on implementing IFRS 7

           Effective date (annual periods beginning on or after)

           January 1, 2026

           January 1, 2026

           January 1, 2026

           The management of the Bank is assessing the impact of the changes in the above mentioned standards on the Bank's financial statements.

      2. As required under SBP Letter No. BPRD/LD-01/850/28853/2022-13054, the details of the net conventional funded portfolio as at September 30, 2025 are as follows:

         Assets

         Note

         Rupees in '000

         Investments 2,001,236

         Financing - net 454,475

         Liabilities

         Deposits and other accounts 2,330,200

         Other Liabilities 22 392,705

         All efforts are being put in to convert or dispose-off the residual portfolio and appropriate monitoring mechanisms are in place. Quarterly progress report on the status of the residual portfolio is shared with the Bank's Board of Directors, the Shariah Board and the State Bank of Pakistan.

4. MATERIAL ACCOUNTING POLICY INFORMATION

   The material accounting policies applied in preparation of these condensed interim unconsolidated financial statements are the same as applied in the preparation of annual unconsolidated financial statements of the Bank for the year ended December 31, 2024 except for the following.

   1. Fair valuation of unquoted Equity Securities

      The fair value of unquoted equity instruments is determined by applying the income approach method. All fair value adjustments are recognized in Other Comprehensive Income (OCI) and accumulated within equity, in accordance with IFRS 9. The cumulative impact of application in current period amounting to PKR 877.347 million net of tax has been recorded as an adjustment to equity at the beginning of the current period.

   2. IFRS 9 'Financial Instruments' - Restatement of corresponding figures of the current period due to subsequent adjustments on adoption of IFRS 9

      The Bank, in accordance with the requirements of SBP's BPRD Circular Letter No.16 dated 29 July 2024 has incorporated IFRS 9 requirements related to subsidized staff and SBP financing and modification accounting. Accordingly, the condensed interim unconsolidated statement of profit and loss account (un-audited) for the nine months ended September 30, 2024, has been restated to reflect the impact of subsidized staff and SBP financing. However, other impacts were not material and hence have not been disclosed in these condensed interim unconsolidated statement of profit and loss account (un-audited) for the nine months ended September 30, 2024.

      The effect of the above restatements on the financial statements is summarized below:

      September 30,2024

      Condensed Interim Unconsolidated Statement of Profit and Loss Account	Previously reported	Restatement	As re-stated	Description
      		Rupees in '000
      Profit / return earned	174,930,375	2,046,662	176,977,037	Impact of subsidized staff and SBP financing
      Profit / return expensed	115,123,444	1,751,150	116,874,594	Impact of subsidized SBP financing
      Other Income	290,910	179,323	470,233	Impact of subsidized SBP financing
      Operating expenses	33,740,516	474,835	34,215,351	Impact of subsidized staff financing

   3. Change in useful life of certain property and equipment

      During the period, the Bank has reviewed the useful life of certain assets which are classified as office equipment. This review has resulted in a change in the useful life of these assets which is more reflective of the consumption pattern of these assets. These revisions have been accounted for as a change in accounting estimate in accordance with the requirements of IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, with effect from January 1, 2025. Had this change in accounting estimate not been made, the depreciation expense would have been higher by PKR 213.2 million.

5. BASIS OF MEASUREMENT

   These condensed interim unconsolidated financial statements have been prepared under the historical cost convention except for certain property and equipment and non-banking assets acquired in satisfaction of claims which have been carried at revalued amounts, certain investments and derivative contracts which have been marked to market and are carried at fair value, obligations in respect of staff retirement benefits and lease liabilities which have been carried at present value and right-of-use assets which are initially measured at an amount equal to the corresponding lease liabilities (adjusted for any lease payments and costs) and depreciated over the respective lease terms.

6. FUNCTIONAL AND PRESENTATION CURRENCY

   1. Items included in these condensed interim unconsolidated financial statements are measured using the currency of the primary economic environment in which the Bank operates. These condensed interim unconsolidated financial statements are presented in Pakistani Rupees, which is the Bank's functional and presentation currency.

   2. Figures have been rounded off to the nearest thousand of rupees unless otherwise stated.

7. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

   The basis for accounting estimates adopted in the preparation of these condensed interim unconsolidated financial statements is the same as that applied in the preparation of the unconsolidated financial statements of the Bank for the year ended December 31, 2024 except for fair valuation of unlisted equity securities and change in useful life of certain property and equipment.

8. FINANCIAL RISK MANAGEMENT

   The financial risk management objectives and policies adopted by the Bank are consistent with those disclosed in the annual audited unconsolidated financial statements for the year ended December 31, 2024.

   (Un-audited) (Audited)
9. CASH AND BALANCES WITH TREASURY BANKS

   In hand

   Note

   September 30, December 31, 2025 2024

   Rupees in '000

   local currency		26,808,912		28,945,425
   foreign currencies		2,396,115		3,244,750
   With State Bank of Pakistan in		29,205,027		32,190,175
   local currency current accounts		52,292,132		62,834,348
   foreign currency current accounts		2,503,724		2,367,675
   foreign currency deposit accounts		4,739,651		3,841,612
   With National Bank of Pakistan in	9.1	59,535,507		69,043,635
   local currency current accounts		5,421,311		1,304,011
   Prize bonds	9.2	-		1,443
   Less: Credit loss allowance held against cash and balances with treasury	banks	(1,951)		(1,687)
   Cash and balances with treasury banks - net of credit loss allowance		94,159,894		102,537,577

   1. These include local and foreign currency amounts required to be maintained by the Bank with SBP under the Banking Companies Ordinance, 1962 and / or stipulated by the SBP. These accounts are non-remunerative in nature.

   2. These represent the notional prize bonds received from customers for onward surrendering to SBP. The Bank as in the matter of Shariah principle, does not deal in prize bonds.

10. BALANCES WITH OTHER BANKS

    In Pakistan

    in current accounts

    Outside Pakistan

    in current accounts

    Less: Credit loss allowance held against balances with other banks Balances with other banks - net of credit loss allowance

    (Un-audited) (Audited) September 30, December 31, 2025 2024

    141,425 2,094,639 (3)

    2,236,061

    Rupees in '000

    13,906

    5,525,561

    (3)

    5,539,464

11. INVESTMENTS
    1. Investments by type:

       FVTPL

       Federal Government securities Shares

       FVOCI

       Federal Government securities Shares

       Non Government debt securities

       Amortised Cost

       Non Government debt securities

       (Un-audited)

       September 30, 2025
       Amortised cost	Credit loss allowance	Surplus / (deficit)	Carrying value

       Note Rupees in '000

       925,326 622,270	- -		- 30,377	925,326 652,647
       1,547,596		-	30,377	1,577,973
       621,654,271	-		13,438,992	635,093,263
       9,453,316	-		2,696,406	12,149,722
       47,570,932	(1,320,530)		13,056	46,263,458
       678,678,519	.	(1,320,530)	16,148,454	693,506,443
       6,133,224	(9,026)		-	6,124,198
       6,133,224		(9,026)	-	6,124,198
       1,139,893	-		-	1,139,893
       1,000,000	-		-	1,000,000
       2,139,893		-	-	2,139,893
       205,151	-		-	205,151
       150,000	-		-	150,000
       355,151		-	-	355,151
       688,854,383		(1,329,556)	16,178,831	` 703,703,658

       Subsidiaries * 11.5

       Faysal Asset Management Limited

       Faysal Islami Currency Exchange Company (Private) Limited

       Associates * 11.5

       Faysal Islamic Savings Growth Fund Faysal Halal Amdani Fund

       Total Investments

       * related parties

       FVTPL

       Federal Government securities

       FVOCI

       Federal Government securities Shares

       Non Government debt securities

       Amortised Cost

       Non Government debt securities

       Subsidiaries *

       Faysal Asset Management Limited

       Faysal Islami Currency Exchange Company (Private) Limited

       Associates *

       Faysal Islamic Savings Growth Fund Faysal Halal Amdani Fund

       (Audited)

       December 31, 2024
       Amortised cost	Credit loss allowance	Surplus / (deficit)	Carrying value

       Rupees in '000

       2,624,853

       -

       -

       2,624,853

       2,624,853 - - 2,624,853

       586,829,381	-	20,573,146	607,402,527
       8,389,160	-	1,770,451	10,159,611
       47,570,932	(1,321,184)	1,631,343	47,881,091

       642,789,473 (1,321,184) 23,974,940 665,443,229

       8,214,351

       (1,405,081)

       -

       6,809,270

       8,214,351 (1,405,081) - 6,809,270

       205,151	-	-	205,151
       150,000	-	-	150,000

       1,139,893	-	-	1,139,893
       1,000,000	-	-	1,000,000
       2,139,893	-	-	2,139,893
       355,151	-	-	355,151

       Total Investments 656,123,721 (2,726,265) 23,974,940 677,372,396

       * related parties

    2. Investments given as collateral - at market value

       Federal Government Securities

       Ijarah Sukuk

    3. Credit loss allowance for diminution in value of investments

       Opening balance

       Impact of adopting IFRS 9 as at January 1, Balance as at January 1,

       Charge / reversals

       Charge for the period / year Reversals for the period / year Reversal on disposals

       Transfers - net Amounts written off Closing Balance

    4. Particulars of credit loss allowance against debt securities

       (Un-audited)

       (Un-audited) (Audited) September 30, December 31, 2025 2024

       Rupees in '000

       87,495,530

       2,726,265 - 2,726,265

       101 (655) (1,038,580)

       (1,039,134) (357,575) - 1,329,556

       128,477,500

       3,834,242

       (920,972)

       2,913,270

       99

       (182,783)

       (4,321)

(187,005)

-

-

2,726,265

(Audited)

Performing Stage 1

Underperforming Stage 2

Non-performing Stage 3 Substandard

Doubtful Loss

Total

1. 1. Investment in subsidiaries and associates

      As at September 30, 2025 (Un-audited)
      Country of incorpo- ration	% Holding	Assets	Liabilities	Revenue	Profit after tax	Total comprehensive income / (loss)

      Note

      Rupees in '000

      673,616,084 -	443 -	639,476,165 -	996 -
      -	-	-	-
      -	-	1,214,135	800,905
      1,742,343	1,329,113	1,924,364	1,924,364
      1,742,343	1,329,113	3,138,499	2,725,269
      675,358,427	1,329,556	642,614,664	2,726,265

      						Rupees in '000
      Subsidiaries
      Faysal Asset Management Limited	11.5.1	Pakistan	99.99	3,778,881	505,105	2,444,489	654,570	654,570
      Faysal Islami Currency Exchange
      Company (Private) Limited	11.5.2	Pakistan	100.00	992,530	46,705	93,917	(79,610)	(79,610)
      Associates Faysal Islamic Savings Growth Fund		Pakistan	5.65	3,647,359	18,093	238,083	191,134	191,134
      Faysal Halal Amdani Fund		Pakistan	0.35	43,638,107	184,080	4,051,221	3,392,371	3,392,371

      As at September 30, 2024 (Un-audited)
      Country of incorporation	% Holding	Assets	Liabilities	Revenue	Profit	Total comprehensive income

      					Rupees in '000
      Subsidiaries Faysal Asset Management Limited	Pakistan	99.99	3,010,378	645,643	1,595,236	584,135	584,135
      Faysal Islami Currency Exchange
      Company (Private) Limited	Pakistan	100.00	1,089,453	52,042	124,411	37,411	37,411
      Associates Faysal Islamic Savings Growth Fund	Pakistan	14.46	1,524,646	16,567	283,452	251,770	251,770
      Faysal Halal Amdani Fund	Pakistan	0.21	71,369,095	607,067	9,885,049	9,127,884	9,127,884

      1. Faysal Asset Management Limited (the Company) was incorporated in Pakistan on August 6, 2003 as an unlisted public limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). It is licensed by the Securities and Exchange Commission of Pakistan (SECP) to operate as a Non-Banking Finance Company (NBFC) and to carry out asset management and investment advisory services under the NBFC (Establishment and Regulation) Rules, 2003 and the NBFC and Notified Entities Regulations, 2008.

      2. Faysal Islami Currency Exchange Company (Private) Limited was incorporated in Pakistan on January 16, 2024 under the Companies Act, 2017. The Company is licensed by the State Bank of Pakistan to carry out foreign exchange business, with the operational license granted on March 26, 2024. The registered office is located at ST-02, Faysal House, Sharah-e-Faisal, Karachi.

         Performing		Non-performing		Total
         (Un-audited) September 30, 2025	(Audited) December 31, 2024	(Un-audited) September 30, 2025	(Audited) December 31, 2024	(Un-audited) September 30, 2025	(Audited) December 31, 2024

2. ISLAMIC FINANCING AND RELATED ASSETS

   Note

   Murabaha financing and related assets

   Murabaha financing 12.1

   Advance against Murabaha financing Inventory related to Murabaha

   Running Musharaka

   Istisna financing and related assets

   Istisna

   Advance against Istisna Inventory related to Istisna

   Tijarah financing and related assets

   Tijarah

   Advance against Tijarah Inventory related to Tijarah

   Musawamah financing and related assets

   Musawamah

   Advance against Musawamah Inventory related to Musawamah

   Salam financing and related assets

   Salam

   Advance against Salam

   Diminishing Musharaka financing and related assets

   Diminishing Musharaka

   Advance against Diminishing Musharaka

   Wakala Istithmar

   Tawwaruq Musharaka Bai salam

   Other financing Gross Financing

   Fair value loss 12.6

   Credit loss allowance against Islamic

   104,857,125	16,772,851	133,059	128,898	104,990,184	16,901,749
   5,110,359	8,809,831	5,000	14,687	5,115,359	8,824,518
   1,710,722	2,558,743	-	-	1,710,722	2,558,743
   111,678,206	28,141,425	138,059	143,585	111,816,265	28,285,010
   197,020,300	235,138,286	-	-	197,020,300	235,138,286
   32,842,723	34,068,949	1,309,501	1,896,048	34,152,224	35,964,997
   12,401,184	23,683,828	825,728	298,335	13,226,912	23,982,163
   26,235,025	30,242,203	190,955	1,122,330	26,425,980	31,364,533
   71,478,932	87,994,980	2,326,184	3,316,713	73,805,116	91,311,693
   14,431,900	3,928,174	473,156	409,720	14,905,056	4,337,894
   2,060,141	3,810,688	-	88,000	2,060,141	3,898,688
   25,300,954	10,780,109	-	-	25,300,954	10,780,109
   41,792,995	18,518,971	473,156	497,720	42,266,151	19,016,691
   6,573,799	4,559,401	271,454	184,088	6,845,253	4,743,489
   1,065	735	-	-	1,065	735
   580	345	-	-	580	345
   6,575,444	4,560,481	271,454	184,088	6,846,898	4,744,569
   -	-	1,200	1,200	1,200	1,200
   5,049,309	10,100,000	-	-	5,049,309	10,100,000
   5,049,309	10,100,000	1,200	1,200	5,050,509	10,101,200
   264,403,177	230,599,744	7,243,193	6,616,512	271,646,370	237,216,256
   13,718,025	9,064,745	65	335,000	13,718,090	9,399,745
   278,121,202	239,664,489	7,243,258	6,951,512	285,364,460	246,616,001
   5,777,446	6,302,669	-	-	5,777,446	6,302,669
   22,589,784	18,880,445	382,893	248,336	22,972,677	19,128,781
   -	7,473	193	731	193	8,204
   303,732	579,527	-	-	303,732	579,527
   740,387,350	649,888,746	10,836,397	11,343,885	751,223,747	661,232,631
   589,835	734,485	11,351,723	12,991,197	11,941,558	13,725,682
   740,977,185	650,623,231	22,188,120	24,335,082	763,165,305	674,958,313
   (15,854,814)	(16,420,585)	-	-	(15,854,814)	(16,420,585)
   725,122,371	634,202,646	22,188,120	24,335,082	747,310,491	658,537,728
   (1,460,341)	(906,457)	-	-	(1,460,341)	(906,457)
   (625,734)	(2,034,675)	-	-	(625,734)	(2,034,675)
   -	-	(19,396,373)	(21,687,048)	(19,396,373)	(21,687,048)
   (2,086,075)	(2,941,132)	(19,396,373)	(21,687,048)	(21,482,448)	(24,628,180)
   723,036,296	631,261,514	2,791,747	2,648,034	725,828,043	633,909,548

   Rupees in '000

   financing and related assets

   Stage 1

   Stage 2

   Stage 3

   Islamic Financing and related assets

   - net of credit loss allowance

   12.4

   Note

   1. Murabaha receivable - gross 12.1.2

      Less: Deferred murabaha income 12.1.3

      Profit receivable shown in other assets

      Murabaha financings 12.1.1

      1. The movement in Murabaha financing during the period / year is as follows: Opening balance

         Sales during the period / year Adjusted during the period / year Closing balance

      2. Murabaha sale price Murabaha purchase price

      3. Deferred murabaha income Opening balance

         Arising during the period / year

         Less: recognised during the period / year Closing balance

   2. Particulars of Islamic financing and related assets (gross)

      In local currency

      In foreign currencies

      (Un-audited) (Audited) September 30, December 31, 2025 2024

      106,203,477 (476,308) (736,985)
      104,990,184
      16,901,749 337,643,732 (249,555,297)
      104,990,184
      106,203,477 (104,990,184)
      1,213,293
      474,640 6,269,364 (6,267,696)
      476,308
      744,405,206 18,760,099
      763,165,305

      Rupees in '000

      17,675,934

      (474,640)

      (299,545)

      16,901,749

      38,451,305

      158,526,120

      (180,075,676)

      16,901,749

      17,675,934

      (16,901,749)

      774,185

      29,223

      5,058,731

      (4,613,314)

      474,640

      663,438,554

      11,519,759

      674,958,313

   3. Islamic financing and related assets include Rs. 22,188.120 million (December 31, 2024: Rs. 24,335.082 million) which have been placed under non-performing / Stage 3 status as detailed below:

      (Un-audited) (Audited)

      Category of classification	September 30, 2025		December 31, 2024
      	Non-performing financing	Credit loss allowance	Non-performing financing	Credit loss allowance

      424,607	1,157	300,209	1,545
      1,033,368	450,419	1,229,356	637,774
      2,195,375	1,394,854	2,615,793	1,593,190
      18,534,770	17,549,943	20,189,724	19,454,539
      22,188,120	19,396,373	24,335,082	21,687,048

      Domestic

      Other assets especially mentioned Substandard

      Doubtful Loss

      Total

      Rupees in '000

   4. Particulars of credit loss allowance against Islamic financing and related assets (Unaudited) (Audited)

      September 30, 2025				December 31, 2024
      Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Specific Provision	General Provision	Total

      Rupees in '000

      906,457	2,034,675	21,687,048	24,628,180	-	-	-	19,172,592	877,670	20,050,262
      -	-	-	-	936,972	5,264,393	20,954,552	(19,172,592)	(877,670)	7,105,655
      906,457	2,034,675	21,687,048	24,628,180	936,972	5,264,393	20,954,552	-	-	27,155,917
      -	-	10,355	10,355	-	-	(9,663)	-	-	(9,663)
      1,136,545	163,780	673,064	1,973,389	529,876	990,613	3,373,969	-	-	4,894,458
      (582,661)	(1,572,721)	(2,754,650)	(4,910,032)	(560,391)	(4,220,331)	(2,149,262)	-	-	(6,929,984)
      553,884	(1,408,941)	(2,081,586)	(2,936,643)	(30,515)	(3,229,718)	1,224,707	-	-	(2,035,526)
      -	-	(17,155)	(17,155)	-	-	(4,783)	-	-	(4,783)
      -	-	(202,289)	(202,289)	-	-	(477,765)	-	-	(477,765)
      1,460,341	625,734	19,396,373	21,482,448	906,457	2,034,675	21,687,048	-	-	24,628,180

      Opening balance

      Impact of adopting IFRS 9 as of January 1,

      Balance as at January 1, Exchange adjustments Charge for the period / year

      Reversals during the period / year

      Amounts written off Amounts charged-off

      Closing balance

      1. Credit loss allowance for Stage 1 and Stage 2 represents credit loss allowance maintained against performing and under-performing portfolio respectively as required under IFRS 9.

      2. As allowed by the SBP, the Bank has availed benefit of forced sale value (FSV) of collaterals held as security of Rs 1,196.121 million (December 31, 2024: Rs 771.625 million) relating to financing and investment while determining the provisioning requirement against non-performing financing and investment as at September 30, 2025. The additional profit arising from availing the FSV benefit (net of tax) as at September 30, 2025 which is not available for distribution as either cash or stock dividend to shareholders and bonus to employees approximately amounted to Rs 562.177 million (December 31, 2024: Rs 354.947 million).

   5. Islamic financing and related assets - Particulars of credit loss allowance (Un-audited) (Audited)

      September 30, 2025					December 31, 2024
      Stage 1		Stage 2		Stage 3	Stage 1		Stage 2		Stage 3

      --------------------------------------- Rupees '000 ----------------------------------------

      906,457 2,034,675 21,687,048			-	-	-
      - - -			936,972	5,264,393	20,954,552
      906,457 2,034,675 21,687,048			936,972	5,264,393	20,954,552
      682,772	680,207	658,408	805,133	191,006	1,725,492
      (687,570)	(1,391,652)	(2,718,558)	(241,527)	(1,670,418)	(2,147,246)
      627,467	(627,467)	-	31	(31)	-
      (11,190)	28,143	(16,953)	(457,946)	459,962	(2,016)
      (7,022)	(7,634)	14,656	(16,394)	(1,872,697)	1,889,091
      604,457 (1,318,403) (2,062,447)			89,297 (2,892,178) 1,465,321
      - - (17,155)			- - (4,783)
      - - (202,289)			- - (477,765)
      (50,573) (90,538) (19,139)			(119,812) (337,540) (240,614)
      - - 10,355			- - (9,663)
      1,460,341 625,734 19,396,373			906,457 2,034,675 21,687,048

      Opening balance

      Impact of adopting IFRS 9 as at January 1 Restated balance as at January 1

      New Financing / Increase Financing derecognised or repaid Transfer to stage 1

      Transfer to stage 2 Transfer to stage 3

      Amounts written off Amounts charged off Changes in risk parameters Exchange adjustments Closing balance

   6. Fair value loss pertains to SBP subsidized financing, subsidized staff financing and modified financing amounting to Rs. 6,040 million , Rs. 6,643 million and 3,172 million, respectively.

      September 30, 2025
      Outstanding amount	Credit loss allowance

      December 31, 2024
      Outstanding amount	Credit loss allowance

   7. Islamic financing and related assets - Category of classification Domestic

      Un-audited

      Rupees '000

      Audited

      Performing	Stage 1	720,711,791	1,460,341	556,637,934	906,457
      Underperforming Non-Performing	Stage 2 Stage 3	20,265,394	625,734	93,985,297	2,034,675
      Other assets especially mentioned		424,607	1,157	300,209	1,545
      Substandard		1,033,368	450,419	1,229,356	637,774
      Doubtful		2,195,375	1,394,854	2,615,793	1,593,190
      Loss		18,534,770 17,549,943 20,189,724 19,454,539
      Total		763,165,305 21,482,448 674,958,313 24,628,180

3. PROPERTY AND EQUIPMENT

   Note

   (Un-audited) (Audited) September 30, December 31, 2025 2024

   ---------------- Rupees in '000 ----------------

   Capital work-in-progress 13.1

   Property and equipment

   1. Capital work-in-progress

      Civil works Equipment Furniture and fixture Vehicles

      Building

      6,661,796

      4,453,868 45,258,950

      49,712,818

      789,166 2,433,069 602,208 365,190 264,235

      4,453,868

      38,049,256

      44,711,052

      678,866

      3,686,465

      787,138

      1,188,023

      321,304

      6,661,796

      (Un-audited)

      For the nine months ended

   2. Additions / transfers to property and equipment

The following additions / transfers have been made to property

---------------- Rupees in '000 ----------------