| Transmission of Quarterly Report for the Period Ended 31-12-2025 |

2026

Kamran Ahmad

Kamran Ahmad

Ali Mubeen Hashimi

MIB Islamic Bank Limited

F.D. Registrar Service Pvt Ltd

1705, 17th Floor,

MID YEAR REVIEW

The Directors are pleased to present the Half-Yearly Un-audited Financial Statements of the Company for the half year ended December 31, 2025.

These financial statements have been reviewed by the statutory auditors of the Company, M/s. Mazars M.F. & Co., Chartered Accountants, in accordance with applicable regulatory requirements.

During the period under review, the macroeconomic environment reflected gradual stabilization; however, structural and operational challenges continued to influence the overall business climate. Monetary conditions, taxation measures, and evolving regulatory requirements remained important considerations for the corporate sector.

Sustainable business growth depends upon policy consistency, long-term economic planning, and a predictable regulatory framework. Ongoing fiscal adjustments, evolving taxation requirements, law and order considerations, and constraints in reliable utility availability continued to impact business confidence and investment planning.

Global geopolitical developments and international economic uncertainties also influenced commodity markets, particularly oil and gold prices, thereby affecting overall business sentiment and cost expectations.

In view of these external factors, the Board considers it prudent to maintain a cautious and disciplined approach. At this stage, significant expansion or capital deployment may not be feasible until greater stability and policy continuity are observed. The Company therefore remains focused on operational continuity, cost control, and preservation of financial strength.

The Board of Directors expresses its appreciation to shareholders, employees, stakeholders, bankers, and business partners for their continued trust and support.

We pray to Almighty Allah for the continued success of the Company and the prosperity of our country.

FOR AND ON BEHALF OF THE BOARD

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واىا� 2026 ىرو) 26

To the members of Hafiz Limited

Report on review of Interim Financial Statements

Introduction

We have reviewed the accompanying condensed interim statement of financial position of Hafiz Limited (the "Company") as at December 31, 2025 and the related condensed interim statement of profit or loss and other comprehensive income, condensed interim statement of changes in equity and condensed interim statement of cash flows, and notes to the condensed interim financial statements for the six-month period then ended (here-in-after referred to as the "interim financial statements"). Management is responsible for the preparation and presentation of these interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these interim financial statements based on our review.

The figures of the condensed interim statement of profit or loss and other comprehensive income for the quarters ended December 31, 2025 and 2024 ha ve not been reviewed, as we are required to review only the cumulative figures for the half year ended December 31, 2025.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial statements are not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.

The engagement partner on the review resulting in this independent auditor's review report is Muhammad Saqlain Siddiqui.

UDIN: RR202510324vtzo3Ow65

Place: karachi

Date: 20 February, 2026.

Mazars M.F & Co.

Chartered Accountants

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN AUDITED)

AS AT DECEMBER 31, 2025

(Un-audited) (Audited)

Note

December 31,

2025

June 30,

2025

ASSETS --------- Rupees --------

2,000,000 (June 30, 2025: 2,000,000) Ordinary Shares of Rs. 10/-each

Issued, subscribed and paid up capital:

1,200,000 (June 30, 2025: 1,200,000) Ordinary Shares of Rs. 10/-each

20,000,000 20,000,000

12,000,000 12,000,000

Reserves 649,458,620 628,711,349

661,458,620 640,711,349

NON-CURRENT LIABILITY

Deferred liability - Gratuity 150,681 150,681

CURRENT LIABILITIES

Trade and other payables 8

Unclaimed dividend

CONTINGENCIES AND COMMITMENTS 9

17,462,970 16,425,228

TOTAL EQUITY AND LIABILITIES 679,072,271 657,287,258

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

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE HALF YEAR ENDED DECEMBER 31, 2025

For the quarter ended For the half year ended

Note

December 31,

2025

December 31,

2024

December 31,

2025

December 31,

2024

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

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

HAFIZ LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN AUDITED)

FOR THE HALF YEAR ENDED DECEMBER 31, 2025

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

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

26 February 2026

Ali Mubeen Hashmi

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)

FOR THE HALF YEAR ENDED DECEMBER 31, 2025

December 31,

2025

December 31,

2024

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

CASH FLOW FROM OPERATING ACTIVITIES

Profit before income tax and final taxes 28,880,095 27,351,976

Adjustments for:

Depreciation

Unrealized gain on short term investments - quoted shares Realized gain on short term investments - quoted shares Dividend income

Gain on sale of fixed asset Financial charges

(15,110,065) (15,959,341)

Operating profit before working capital changes 13,770,030 11,392,635

13,959,687

13,533,761

22,164,453

18,018,029

(2,504,180)

(425,926)

(2,429,935)

(4,146,424)

(3,287,860)

(8,873,743)

(5,572,100)

(19,237)

5,366,114

(6,043,072)

(23,754)

7,157,254

717,266

10,957,451

467,677

13,224,080

(1,152,450)

(1,013,627)

(2,504,180)

(2,429,935)

717,266

467,677

(1,152,450)

(1,013,627)

(Increase) / decrease in current assets

Trade deposits and advances

(Decrease) / increase in current liabilities

Trade and other payable

Cash generated from operations

Payment for:

Taxes

Financial charges

Net cash generated from operating activities

CASH FLOW FROM INVESTING ACTIVITIES

Fixed capital expenditure

Purchase of short term investment - quoted shares

Proceeds from sale of short term investment - quoted shares Proceeds from sale of fixed asset

Dividend received

Net cash used in investing activities

CASH FLOW FROM FINANCING ACTIVITIES

Dividend paid

Net cash used in financing activities

Net (decrease)/increase in bank balances

Bank balances at beginning of the period Bank balances at end of the period

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

26 February 2026

Ali Mubeen Hashmi

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE HALF YEAR ENDED DECEMBER 31, 2025

1. STATUS AND NATURE OF BUSINESS

   Hafiz Limited ("the Company") is a Public Limited Company incorporated in 1951 under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The shares of the Company are listed on the Pakistan Stock Exchange Limited. The registered office of the Company is situated at 97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi.

   The principal activity of the Company is to earn rentals on investment properties.

2. STATEMENT OF COMPLIANCE

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

   -International Accounting Standards (IAS 34), Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified by 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

3. BASIS OF PREPARATION

   1. These condensed interim financial statements do not include all the information and disclosures required in annual financial statements and should be read in conjunction with the annual audited financial statements of the Company for the year ended June 30, 2025. These condensed interim financial statements are unaudited, however have been subject to limited scope review by the auditors, and are being submitted to the shareholders as required by the listing regulations of Pakistan Stock Exchange Limited and Section 237 of the Companies Act, 2017.

   2. The figures of the condensed interim statement of profit or loss and 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 half year ended December 31, 2025 and December 31, 2024.

   3. Accounting estimates and judgments

      The preparation of these condensed interim financial statements, in conformity with the approved accounting and reporting 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 expectation of future events that are believed to be reasonable under the circumstances. Actual results may differ from the estimates.

      During the preparation of these condensed interim financial statements, the significant judgments made by management in

      applying the Company's accounting policies and the key sources of estimation and uncertainty were the same as those that were applied to the annual audited financial statements of the Company for the year ended June 30, 2025.

   4. These condensed interim financial statements are presented in Pakistan Rupee which is also the Company's functional currency.

4. MATERIAL ACCOUNTING POLICIES INFORMATION

Accounting policies adopted for the preparation of these half yearly condensed interim financial statements are the same as those applied in the preparation of the preceding annual published financial statements of the Company for the year ended June 30, 2025 except as disclosed below:

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

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

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

There are certain amendments and interpretations to the accounting and reporting standards that will be mandatory for the Company's annual accounting periods beginning on or after July 1, 2025. However, these will not have any impact on the Company's financial reporting and, therefore, have not been disclosed in these condensed interim financial statements.

(Un-audited) (Audited)

December 31, June 30,

6.1.1 Represents further payments made in respect of land in the area of K-28, Phase II, Block A,Trans Lyari Quarters, Hawksbay Road, District Maripur, Karachi.

(Un-audited) (Audited)

December 31,

2025

June 30,

2025

1. SHORT-TERM INVESTMENTS

   Quoted - at fair value through profit or loss AISHA STEEL MILLS LIMITED

   30,000 (2025: 25,000) ordinary shares of Rs. 10/- each

   AMTEX LIMITED

   140,000 (2025: 100,000) ordinary shares of Rs. 10/- each

   AZGARD NINE LIMITED

   10,000 (2025: 10,000) ordinary shares of Rs. 10/- each

   QUANTUM DATA TECHNOLOGIES LIMITED

   34,000 (2025: 4,000) ordinary shares of Rs. 10/- each

   CNERGYICO PK LIMITED

   325,000 (2025: 325,000) ordinary shares of Rs. 10/- each

   COLONY TEXTILE MILLS LIMITED

   210,000 (2025: 125,000) ordinary shares of Rs. 10/- each

   DOST STEELS LIMITED

   10,000 (2025: 10,000) ordinary shares of Rs. 10/- each

   FAUJI FOODS LIMITED

   100,000 (2025: 160,000) ordinary shares of Rs. 10/- each

   GHAZI FABRICS INTERNATIONAL LIMITED

   20,000 (2025: 20,000) ordinary shares of Rs. 10/- each

   HIRA TEXTILE MILLS LIMITED

   60,000 (2025: 60,000) ordinary shares of Rs. 10/- each

   IMAGE PAKISTAN LTD

   6,612 (2025: 6,612) ordinary shares of Rs. 10/- each

   K-ELECTRIC LIMITED

   1,300,000 (2025: 1,120,000) ordinary shares of Rs. 10/- each

   -----Rupees-----

   670,426	605,635
   493,511	291,917
   125,568	125,568
   1,554,141	367,749
   1,979,226	1,979,226
   1,505,575	877,826
   64,607	64,607
   1,347,822	1,876,567
   239,892	239,892
   284,906	284,906
   73,259	73,259
   5,525,916	4,146,511

   (Un-audited) (Audited)

   December 31,

   2025

   June 30,

   2025

   NISHAT CHUNIAN LIMITED

   7,500 (2025: 7,500) ordinary shares of Rs. 10/- each

   PAKISTAN INTERNATIONAL BULK TERMINAL

   45,000 (2025: 45,000) ordinary shares of Rs. 10/- each

   PAKISTAN STOCK EXCHANGE LIMITED

   2,000 (2025: 2,000) ordinary shares of Rs. 10/- each

   PAKISTAN TELECOMMUNICATION COMPANY LTD

   85,000 (2025: 85,000) ordinary shares of Rs. 10/- each

   POWER CEMENT LIMITED

   -----Rupees-----262,434

   349,168

   34,502

   798,987

   262,434

   349,168

   34,502

   798,987

   620,000 (2025: 600,000) ordinary shares of Rs. 10/- each

   SINDH MODARABA

   10,000 (2025: 20,000) ordinary shares of Rs. 10/- each

   TARIQ GLASS INDUSTRIES LIMITED

   2,000 (2025: 2,000) ordinary shares of Rs. 10/- each

   THE CRESCENT TEXTILE MILLS LIMITED

   10,000 (2025: 10,000) ordinary shares of Rs. 10/- each

   WORLDCALL TELECOM LIMITED

   5,10,000 (2025: 5,100,000) ordinary shares of Rs. 10/- each

   ZEPHYR TEXTILES LIMITED

   6,000 (2025: 6,000) ordinary shares of Rs. 10/- each

   FAUJI FERTILIZER COMPANY LIMITED

   699 (2025: 699) ordinary shares of Rs. 10/- each

   PAKISTAN STATE OIL COMPANY LIMITED

   2,500 (2025: 1,500) ordinary shares of Rs. 10/- each

   PAKISTAN PETROLEUM LIMITED

   8,000 (2025: 5,000) ordinary shares of Rs. 10/- each

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   8,000 (2025: Nil) ordinary shares of Rs. 10/- each

   YOUSAF WEAVING MILLS LIMITED

   10,000 (2025: 10,000) ordinary shares of Rs. 10/- each

   KOHINOOR SPINNING MILLS LIMITED

   500,000 (2025: 650,000) ordinary shares of Rs. 10/- each

   KOHINOOR INDUSTRIES LIMITED

   10,000 (2025: 25,000) ordinary shares of Rs. 10/- each

   HUSEIN INDUSTRIES LIMITED

   7,547 (2025: 7,547) ordinary shares of Rs. 10/- each

   PIA HOLDING COMPANY LIMITED

   35,000 (2025: 15,000) ordinary shares of Rs. 10/- each

   GHANI GLOBAL HOLDINGS LIMITED

   5,000 (2025: 5,000) ordinary shares of Rs. 10/- each

   GHANI GLOBAL GLASS LIMITED

   15,000 (2025: 15,000) ordinary shares of Rs. 10/- each

   FAST CABLES LIMITED

   10,225 (2025: Nil) ordinary shares of Rs. 10/- each

   DEWAN FAROOQUE MOTORS LIMITED

   5,000 (2025: Nil) ordinary shares of Rs. 10/- each

   HONDA ATLAS CARS (PAKISTAN) LIMITED

   1,000 (2025: Nil) ordinary shares of Rs. 10/- each

   LOADS LIMITED

   10,000 (2025: Nil) ordinary shares of Rs. 10/- each

   4,955,361

   94,477

   195,160

   171,216

   9,765,164

   84,369

   156,826

   627,703

   1,071,517

   1,927,146

   59,338

   4,674,835

   193,354

   219,719

   900,378

   84,516

   151,791

   255,517

   176,872

   300,448

   191,533

   4,579,495

   188,954

   195,160

   171,216

   9,765,164

   84,369

   156,826

   243,125

   572,603

   -59,338

   5,964,396

   262,223

   219,719

   279,004

   84,516

   151,791

   -

   -

   -

   -

   41,567,181 35,356,652

   Unrealised Gain/loss on revaluation of investments 14,374,636 4,906,730

   55,941,817 40,263,382

2. TRADE AND OTHER PAYABLE

   Accrued liabilities 2,401,762 1,738,448

   Security deposits 8,425,787 8,621,424

   War risk insurance premium 494,415 494,415

   11,321,964 10,854,287

3. CONTINGENCIES AND COMMITMENTS

   1. Contingencies

      There is no significant change in the status of contingencies as disclosed in note 18.1 to the annual audited financial statements of the Company for the year ended June 30, 2025.

   2. Commitments

There were no commitments outstanding as at December 31, 2025 (June 30, 2025: Nil).

(Un-audited) (Un-audited)

Note

December 31,

2025

December 31,

2024

-----Rupees-----

(Un-audited) (Un-audited)

December 31,

2025

December 31,

2024

Statement of profit or loss and other comprehensive income

-----Rupees-----

Relationship of the Company with Shariah-compliant banks:

The Company has relationship with Shariah - complaint bank in respect of bank balances as mentioned above.

1. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

   These condensed interim financial statements do not include all financial risk management information and disclosures which are required in the annual financial statements and should be read in conjunction with the Company's annual audited financial statements for the year ended June 30, 2025. There have been no change in any risk management policies since the year end.

   Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement dates. The carrying values of all financial assets and liabilities reflected in these condensed interim financial statements approximate their fair values. The Company analyses financial instruments carried at fair value by valuation method. The different levels have been defined as follows:

   • Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1);

   • 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 2); and

   • Inputs for the asset or liability that are not based on observable market data (level 3).

     As at December 31, 2025, all of the Company's financial instruments are carried at fair value using level 1 technique (quoted price).

2. TRANSACTIONS WITH RELATED PARTIES

   Related parties comprise of associated undertakings, directors and key management personnel of the Company.

   Details of transactions with related parties during the period other than those disclosed elsewhere in the financial statements are as follows:

   Name of the related party and relationship with the Company

   Nature of Transactions

   (Un-audited) December 31, 2025

   (Un-audited) December 31, 2024

   -----Rupees-----

   Chief Executive Managerial remuneration 585,000 585,000

   Utilities 315,000 315,000

   Director Managerial remuneration 487,500 487,500

   Utilities 262,500 262,500

   Executive Managerial remuneration 753,409 753,409

   Other perquisite 75,341 75,341

   Retirement benefit fund

   Gratuity Charge for the period 75,341 -

3. AUTHORIZATION

   These condensed interim financial statements were authorized for issue by the Board of Directors of the Company in a meeting held on .

4. GENERAL

Figures have been rounded off to the nearest rupee.

26 February 2026

Ali Mubeen Hashmi

1. Submission of copies of CNIC (MANDATORY):

   Pursuant to the directive of the Securities & Exchange Commission of Pakistan Circular No. EMD/D-11/Misc./2009-1342 dated April 4, 2013, CNIC numbers of shareholders are mandatorily required to be mentioned on dividend warrants. Shareholders are, therefore, requested to submit a copy of their CNIC (if not already provided) to the Company's Share Registrar, M/s. F.D. Registrar Services (Pvt.) Ltd. 1705, 17th floor, Saima Trade Tower-A, I.I. Chundrigar Road, Karachi-74000.

2. Notice for unclaimed shares / Dividends:

   Pursuant to the requirement of Section 244 of the Companies Act, 2017 (the' Act), now all companies are required to surrender physical shares/dividends which remain unclaimed or unpaid for over three years, as on May 30, 2014, to the Federal Government.

   As per Company's record, there are some outstanding / physical shares/ dividends in respect of your above-mentioned folio/account.

   You are hereby requested to immediately lodge your claim to our share Registrar: Mis F.D. Registrar Services (Pvt.) Ltd. 1705, 17th Floor, Saima Trade Tower 'A' 1.1. Chundrigar Road, Karachi or our registered office: Hafiz Limited 97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi, along with relevant documents in support of your claim under a duly signed letter (in accordance with specimen signature recorded with the Company):

   Please note that if the Company does not receive a claim from you within the aforesaid time period, then the Company shall proceed to deposit unclaimed physical shares/ dividends in its possession, with the Federal Government pursuant to the provisions of sub section (2) of section 244 of the Act.

3. E-Dividend Mandate (Mandatory)

Under the provisions of Section 242 of the Companies Act, 2017 and the Companies (Distribution of Dividends) Regulations, 2017, it is mandatory for a listed Company to pay cash dividend to its shareholders only through electronic mode directly into bank account designated by the entitled shareholders.

Shareholders who have not yet submitted their In ternational Bank Account Number (IBAN) are requested to fill in Electronic Credit Mandate Form and send it duly signed along with a copy of CNIC to the Registrar of the Company M/s. F.D. Registrar Services (Pvt.) Ltd. 1705, 17" Floor, Saima Trade Tower-A, I.I. Chundrigar Road, Karachi-74000, in case of physical shares.

In case shares are held in CDC then Electronic Credit Mandate Form must be submitted directly to shareholders broker/participant/CDC account services.

HAFIZ LIMITED

97 Alliance Building, 2nd floor, Moolaji Street, Mereweather, Tower, Karachi-74000. ( Farooqi Masjid )

NOTICE OF MANDATORY PAYMENT OF DIVIDEND THROUGH ELECTRONIC MODE

Subsequent to promulgation of Companies Act, 2017, and as per section 242 of the said Act now it is mandatory for listed companies that dividend payable in cash shall only be paid through electronic mode directly into the bank account designated by the entitled shareholders.

Keeping in view the same, all cash dividend, if declared, by the Company in future will be directly transferred in bank account. In order to enable us to follow the directives of the regulators in regard to payment of divided only through electronic mode, you are requested to please provide/update your bank account detail in below mentioned format.

I hereby authorize HAFIZ LIMITED to directly credit cash dividend declared by it, if any, in the below mentioned bank account.

Bank Account Details of Transfer for Cash Dividend

*(Mandatory to provide)

1. It is stated that the above-mentioned information is correct, that I will intimate the changes in the above mentioned information to the above addresses assoon as these occur.

(Signature of shareholder)

KINDLY NOTE: COMPANY MAY WITHHOLD THE PAYMENT OF DIVIDEND OFA MEMBER WHERE THE MEMBER HAS NOT PROVIDED THE COMPLETE INFORMATION OR DOCUMENTS AS SPECIFIED.

The shareholder who hold shares in physical form are requested to submit the above mentioned dividend mandate km after duly filled in to Company's Share Registrar office, Mls F.D. Registrar Services Private Limited 1705, 17th floor, Saima Trade Tower-A, I.I. Chundrigar Road, Karachi-74000 Shareholders who hold shares in Central Depository Company are requested to submit the above mentioned dividend mandate form after duly filled in to their participants/investor account services of the central depository company limited.

For any query, you may please contact us Tel # 02132440371 oremail us at htm1951@hotmaiI.com

Mr. Umar Whatsapp No: +92 333 2557565

Note: This is a computer generated letter and does not require signature.

*Please attach attested photocopy of CNIC "Please attach attested photocopy ofthe Passport

Thanking you. Ali Muhammad Usmani (Company Secretary)