Mari Energies LimitedPSX: MARI

Financial Results for the Six Months Ended December 31, 2025

· Issued by Mari Energies Limited

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Road

Karachi

CA-26-4945



January 26, 2026

Subject: Financial Results of the Six Months ended on December 31, 2025

Dear Sir,

  1. Further to our letter No. No. CA-26-4932, dated January 16, 2026, it is informed that the Board of Directors of Mari Energies Limited in its meeting held on January 26, 2026 (today) at 11:30 a.m. at its Registered Office, has recommended the following:

    1. CASH DIVIDEND : Rs. 8.3 per share i.e. 83%

    2. BONUS SHARES : NIL

    3. RIGHT SHARES : NIL

  2. The Financial Results of the Company for the six months ended on December 31, 2025, are attached at Annexure 'A'.

    1. Profit for the half-year is lower when compared with that of last half-year mainly because of additional 15% wellhead payment due on Mari Field effective from November 2024.

      Rs. Billion

      Profit - 1H 2025-26

      28.4

      Impact of Additional Wellhead - net of tax

      4.9

      Profit without impact of additional wellhead

      33.3

      Profit - H1 FY 2024-25

      30.4

    2. Investment in Subsidiary: The Board has approved further investment of Rs 2.5 billion in wholly owned subsidiary, Mari Minerals (Private) Limited, by way of equity investment by subscribing to a right issue at par value, in tranches as and when required/requested by MariMinerals.
    3. Credit Rating: The Pakistan Credit Rating Agency Limited (PACRA) has maintained long-term rating at AAA and short-term rating at A1+.

  3. It is further informed that the above-mentioned interim dividend will be paid to those shareholders whose names will appear on the Register of Members at the close of business on February 02, 2026.



  4. The Share Transfer Books of the Company will remain closed from February 03, 2026, to February 05, 2026 (both days inclusive) for the entitlement of interim dividend. Transfers received in order at the Company's Share Registrar, M/s Corplink (Pvt) Limited, Wings Arcade, 1-K Commercial, Model Town Lahore, up to February 02, 2026, will be entitled to the payment of First Interim Dividend.

  5. The quarterly report of the Company for the period ended December 31, 2025, will be transmitted through PUCARS and will also be available on the Company's website at https://www.marienergies.com.pk in due course of time.

You may please inform the TRE certificate holders of the exchange, accordingly. Very truly yours,



Brig Sumair Ashraf Sheikh (Retd)

Company Secretary

MAR1 ENERG1ES LIM ITED

CONDENSED INTERIM STATEMENT OF FINANCIA L. POSITION AS AT DECEMBER 31, 2025

Annex - A

(Un-Audited)

31.12.2025

(Audited)

30.06.2025

(Un-AuditedJ

3l.t2.2025

(Audited)

30.0G.2025

Note

(Rupees in

thousand)

Note

(Rupees in

thousand)

EQUITY AND LI ABIUTI ES

ASSETS

SHARE CAPITAL AND RESERVES

NON CURRENT ASSETS

Share capital

4

12,006,225

12,006.225

Property, plant and equipment

9

117,443,951

111,738,172

Other reserves

6,145,505

6,284,245

Development and production assets

10

73,468,621

61,803,417

Unappropriated profit

255,750,497

253,363,585

Exploration and evaluation assets

11

29,193,683

22,159,867

Long term investments

12

32,288,225

32,566,614

TOTAL EQUITY

273,902,227

271,654,055

Right-of-use asset receivable from joint

operating partners

13

2,014,174

2,775,659

NON CURRENT LIABILFTIES

Long term loans and advances

47,678

66,806

Long term deposits and prepayments

245,202

135,753

Long term financing

Lease liabilities

5

254,701,534

231,246,288

Deferred liabilities Deferred tax liability

6

CURRENT ASSETS

CURRENT LIABILITIES

97,091,422

82 707,036

Stores and spares

Trade debts

14

Short term loans and advances

15

Trade and other payables

Current portion of long tern financing Current portion of lease liabilities

7

5

Short term prepayments Other receivables

Current portion of right-of-use asset

Unclaimed dividend

receivable from joint operating partners

13

Provision for income tax

64,973,540

67.908,692

Short term investments

Interest accrued

Cash and bank balances

TOTAL LIABILIT1ES

162,064,962 150,615,728

181,265,655

191,023,495



CONTING ENCIES AND COMMITMENTS

TOTAL EQUITY AND LIABILITFES

435,967, 189 422,269,783

TOTAL ASSETS

435,967,189

422,269,783

467,912

508,959

5,850,227

6,168,130

35,816,651

32,904,038

54,956,632

43,125,909

13,551,543

12,681,81 I

88,765,595

86,581,711

8,714,987

6,470,316

1,182,381

249,638

6,38G,766

6,449,787

1,533,734

1,396,462

37,009,291

38,226,461

318,762

268,098

23,802,596

38,699,21 1

46,103,569

50,407,289

144,132

147,570

3,541,108

3,103,249

979,515

696,411

14,205,216

13.554, 173

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.



Nabeel Rasheed

Chief Financial Officer

Faheem Hsider

Managing Director / CEO

Abid Niaz Hssan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

MARI ENERC IES LI MITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 51, 2025

Note

Three months period ended

31.12.2023 31.12.2024

(Ru pees in thousand)

Six months period ended

31.12.2025 31, I 2.2024

(Rupees in thousand)

Gross sales

50,866,579

46,669,23 8

102,276,227

97,872,800

General sales tax

(5,552,156)

(4.784.611)

(11,056,248)

(l 0. 135, 151)

Excise dut5

(54J,203)

(530.220)

(1,098,526)

(1,086,011)

(6,096,359) (5,314.831)

(12,154,774)

(11,221, 162)

Set sales

16

44,770,220

41 ,354.407

90,121,453

86.65 1.638

Ro'alty and additional weIIhead chai ¿e

) 7

(10,648,773)

(8.007.666)

(21,922,936)

(13.529.267)

Operating and administrati ve expenses

(12,027,327)

(15.098.123)

(20,396,085)

(23.127,799)

Exploration and prospecting expend iture

(1,864,121)

(3,719.905)

(4,076,180)

(6.720,959)

Finance cost

(987,959)

(833.281)

(1,964,579)

(1,667.863)

Other charges

(1,116,639)

(1,116,517)

(2,506,723)

(3,173.759)

(26,65J,819)

(28.775,492)

(50,866,501)

(48.219,647)

18,115,401

12.578.915

39,254,952

38,431.991

Other i Jcoine

760,886

26,075

982,01 7

I 45.387

Finai ce income

1,001,728

2,310,735

2,658,195

5,676.220

Share of loss in associate

(229,548)

(8.189)

(195,386)

(217.375)

Pi otil befor e taxation

19,648,467

14,907,536

42,699,778



8rov ision for taxation

(6,848,225)

(o".739.490)

(1 4,259,356)

1 3.640.4 11 )

Protil tor the period

12,800,242

I I . 168.046

28,440,420

30,395.81 2

Earnings per share - basic and diluted

Earnings per ordinary share (Rupees)

18

10.66

9.30

23.69



The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

Nabeel Rasheed

Chief Financial Officer

Faheem Haider Managing Director / CEO

Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder

H1(M), (Retd)

Chamcan

MARI ENERG IES LI MITE D

CONDENSED INTERIM STATEMENT OF COMPRE HENSIVE INCOME (UN-AUD ITED) FOR THE SI X MONTH S PERIOD ENDED DECEMBER 31, 2025

Three months period ended Six months period ended

31. 12.2025 3 1. 1.2.2024 31.12.2025 31.12.2024

(Rupees izt thousand) (Rupees in thousand)

Profit for the period

Other comprehensi*'e (loss) / income:



items that \'iII be suhsequentI' i eclassified to profit or

Effect of translation of investment in a torei3n assoc iale 1ncoine tax effect related to effect of translation of

investment in a foreign associate - deferred tax credit

Total compi ehensiye income foi the period

12,800,2J2 1 1. 1.68.046 28,440,420 30,395.81 2

(83,130)

10.655

(i 84,987)

1.7.6 50)

20,783

46,247

(62,3J7)

10,655

( 138,740)

(17.650)

12,737,895

11, 178,70.1

28,301,680

30,378, 1.62

The annexed notes I to 23 Form an integral part of these condenser! interi»J financ ial statements.



N»beel Rasliecd

Cls ief Financial Officei

Falieem Haider

Ma a i Director CEU

Abid Niaz Hasan Lt Gen An»'ar Ali Hyder Director HI(M), (Retd)

CHairman

MARI ENERGIES LIM ITED

CONDENSED INJ'ERIM STATEMENT OF CHANGES IN EQtlITY FOR THE SIX nIONTHS PERIOD ENDED DECEMBER 31. 2025

Other reserves

CqpitaT

Share cggital redem gtion

Self insurance reserve

Foreign

currency

U"•GP F•'•tcd

Total

resez•ve Fund

translation §TO t



(Rupeee in thousand)

Balanee as at July 0t, 2024 (Audited)

Total comprehensive income for the period:

,334,025

IO.?90.OOI

4,600,000

2,002,507

206,381,187

224,907,720

Profit for the period

30,395,81 2

30,395,812

Other comprehensive loss

( 17,650)

(17.650)

-

(17,650)

30.395,812

30,378, 162

Issuance ofbonus shares •

Final cash dividend for the year ended June 30. 2024

Rs 134.00 per share *

0,672,200

( 10,590.00 1)

(82,199)

(1?,875,935)

( I 7,875,935)

BqTance as at December 3 T, 2024 (Lin-Audited)

12,006,225

-

4,600,000

T,984,8T7

2t8,8I8,8Gfi

237,409,947

Total comprehensive income for the period:

Profit for the period

34.740,604

34,740,604

Other comprehensive loss

(300,612)

(195.884)

(496,496)

(300,6t2)

34,544.720

34,244,108

Ba Tance as at June 30, 2025 (Audited)

2.006,225

-

4,G00,000

1,684,245

2S3,363,S8S

271.654,055

Total comprehensive income for the period:

Profit for the period

28,440,420

28,440,420

Other comprehensive loss

(138,740)

(138,740)

Final cash dividend For the year ended June 30.2025

Rs 21.7 per share "

(138,7 0)

2#44%420

2G,053%8)

28@01680

(2G05350)

Balance as at December 31, 2025 (Min-Audited)

t2,006,22S

-

4,600,000

.545.505

255,750,497

273,902,227

* Distribution to owners - recorded directly in equity

The anne.xed notes 1 to 23 form an integral part of these condensed interim financial statements.



Ngbeel Rasheed Chief Financial Officer

Faheem I laider Managing Director /CEO

Abid Niaz ITasan

Director

1.t Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

MARI ENERGIES LIM ITED

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

Cash Hons's from operating activities

Note

3t.12.202a S I . I 2.2024

(Rupees in thousand)

Cash receipts from custonaers

120,254,806

121,33 1,246

Cash paid to the Government for Governiiient lev ies

(62,738,245)

(42.995.055)

Cash paid to suppliers. employees and othei-s - net

(18,380,707)

(33,978,972)

Incoiiie tax paid

(1,731,345)

(5.71 8,223)

C'ash eenei ated fi orn opei ating act ii ities

37,404,509

3 8.63 8.996

Cash flows s from investing activities

Piopeilv. plant a‹d equipiJJent

(8,615,263)

(5.509.739)

De eIopMent and production assets

(13,89J,669)

( 11.787.237)

Lxplorat ion and evaluation assets

(6,828,515)



Proceeds from disposal of pi operty. plant and eqriiprrient

12,297



ln› estiuent in ivloo1lj ore ned subs idiarics

( i 0.400.000)

lncoiiie ‹an ir ritual funds

1,478,150

2.562.358

Inter est i ecei ved

1,366,254

2,685.896

Oash utilized in ilivesting activities

(26,480,746)

(25. 190,894)

Cash flows 1'rom financinp• activities

(62,500)

(1,553)



Lina«cc costpaid

(15,398)

Le ere+itaspad-net

(1,012,044)

Di idendpad

(25,770,404)



( 17. /42, 102)

Cash utilized in finaiicing activities

(26,861,899)

( 17.825. 196)

Uec "case in cash and cash equi› aleitts

(15,938,136)

(4.377,094)

Cash nnd cnsli equix'alents at beginning of ilie perioil

76,925,672

74.586.288

L f!'ect ul' exchange i-ate changes

(175,649)

(57,406)

Cash and cash equivalents at end of the period

19

60,811,887

70,47 1,788

1lie annexed notes 1 to 23 fornj an integra1 pai t ot these condensed inter ilT1 financia1 stateiiients.



Nabcel Rasheed

Faheeni Haider

Abid Niaz Hasan

Lt Gen Anwar Ali Hyder

C"liie1 L inancial Officer

managing Director / CEO

Director

HI(M), (Retd)

Chaii iiian

  1. DISCLOSURE REQUIREM ENTS FOR SHARIA H COMPL I ANT COMFANIES

    Note

    Balance as at

    31.12.2025 30.06.2025

    (Rupees in thousand)

    Liabilities

    Interest accrued on con ventional long term financi•s

    I 69,191

    15 I , 173

    Assets

    Long term investments

    Shariah compliant

    12

    32,099,462

    32,377,835

    Short term investments - Mutual funds

    Shariah compliant

    2,534,373

    1,815,310

    Short term investments - Term deposit receipt

    Shariah compliant

    1,000,000

    -

    Bank balances

    Shariah complian1

    612,901 5,333,225 Transactions for the six months period ended 31.12.2025 31.12.2024 (Rupees in thousand)

    Net sales

    Shariah compliant

    16

    90,121,453

    86,651,638

    Share of loss in associate

    Shariah compliant

    (195,386)

    (217,3 75)

    Interest income on deposit accounts with banks

    Shariah compliant



    60,873

    Income on mutual funds

    Shariah compliant

    65,094

    6 1,272

    Interest income on term deposit with banks

    Shariah compliant

    5,945

    Exchange (loss) / gain

    (236,857)

    9,155

    Source and detailed breahup of other income:

    Income / (loss) from Mari Services Division

    Shariah compliant

    502,533

    ( 19,509)

    Gain on disposal of stores and spares/ property, plant and equipment

    Shariah compliant

    102,375

    I I 3,6 11

    Miscellaneous income

    Shariah compliant

    377,109

    51, 194

    Miscellaneous income

    Non-Shariah compliant

    91

    982,017

    145,387

    Borrowing costs paid on conventional long term financing

    10,887

    12,6 10

    Names of the Company's Shariah compliant finenciel institutions

    1. Bank Alfalah Limited (Islamic)

    2. Meezan Bank Limited

    3. Faysal Bank limited

J. AI Baraka Bank (Pakistan) Limited

S. Bank Islami Pakistan limited

  1. Dubai Islamic Bank

  2. Bank of Punjab

  3. National Investment Trust Limited

  4. AI Meezan Investment Management Limited

  5. Lucky Investments

  6. United Bank Limited Al Ameen Islamic

Disclosures other than above are not applicable on the Company.

Arrangement

Bank deposit Bank deposit Bank deposit Bank deposit Bank deposit Bank deposit Bank deposit Investment Investment

1nvestment

1nvestment



MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31, 2025

(Un-Audited)

(Audited)

31.12.2025

30.06.2025

(Rupees in thousand)

(Un-Audited)

(Audited)

31.12.2025

30.06.2025

(Rupees in thousand)

Note Note

EQUITY AND LIABILITIES ASSETS

Property, plant and equipment

9

131,858,665

Development and production assets

10

73,468,621

Exploration and evaluation assets

11

30,882,301

Long term investments

12

19,686,725

Right-of-use asset receivable from joint

operating partners

13

2,014,174

Long term loans and advances

47,678

Long term deposits and prepayments

288,721

258,246,885

SHARE CAPITAL AND RESERVES NON CURRENT ASSETS

Share capital

4

12,006,225

12,006,225

Other reserves

6,145,505

6,284,245

Unappropriated profit

256,219,793

253,596,047

274,371,523

271,886,517

114,118,230

61,803,417

22,669,369

20,066,614

2,775,659

66,806

146,253

221,646,348

Non-controlling interests 6,072,812 2,012,282

TOTAL EQUITY 280,444,335 273,898,799

NON CURRENT LIABILITIES

Long term financing

2,957,653

508,959

Lease liabilities

5

6,109,935

6,314,296

Deferred liabilities

6

35,816,651

32,904,038

Deferred tax liability

54,962,114

43,133,086

99,846,353

82,860,379

CURRENT LIABILITIES

CURRENT ASSETS

Stores and spares

13,551,543

Trade debts

14

88,765,595

Short term loans and advances

15

9,068,826

Short term prepayments

1,215,636

Other receivables

6,749,019

Current portion of right-of-use asset

receivable from joint operating partners

13

1,533,734

Short term investments

42,118,254

Interest accrued

326,535

Cash and bank balances

27,690,847

191,019,989

12,681,811

86,581,711

6,470,316

257,820

6,375,200

1,396,462

43,904,612

268,098

45,155,755

203,091,785

Trade and other payables

7

49,962,523

51,098,733

Current portion of long term financing

144,132

147,570

Current portion of lease liabilities

5

3,575,805

3,129,170

Unclaimed dividend

979,515

696,411

Provision for income tax

14,314,211

13,627,071

68,976,186

68,698,955

Asset classified as held for sale - 720,000

TOTAL LIABILITIES 168,822,539 151,559,334

CONTINGENCIES AND COMMITMENTS

8

TOTAL EQUITY AND LIABILITIES 449,266,874 425,458,133 TOTAL ASSETS 449,266,874 425,458,133

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed

Faheem Haider

Chief Financial Officer

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

Three months period ended

Six months period ended

31.12.2025

31.12.2024

31.12.2025

31.12.2024

(Rupees in thousand)

(Rupees in thousand)

Gross sales

General sales tax

Excise duty

50,866,579

46,669,238

102,276,227

97,872,800

(5,552,156)

(4,784,611)

(11,056,248)

(10,135,151)

(544,203)

(530,220)

(1,098,526)

(1,086,011)

(6,096,359)

(5,314,831)

(12,154,774)

(11,221,162)

16

44,770,220

41,354,407

90,121,453

86,651,638

17

(10,648,773)

(8,007,666)

(21,922,936)

(13,529,267)

(12,216,439)

(15,148,753)

(20,721,971)

(23,215,838)

(1,864,121)

(3,719,905)

(4,076,180)

(6,720,959)

(991,174)

(834,847)

(1,967,794)

(1,669,429)

(1,126,639)

(1,116,517)

(2,506,723)

(3,173,759)

(26,847,146)

(28,827,688)

(51,195,604)

(48,309,252)

17,923,074

12,526,719

38,925,849

38,342,386

832,348

26,075

1,053,479

145,387

1,223,019

2,492,887

3,234,683

5,869,029

(229,548)

(8,189)

(195,386)

(217,375)

19,748,893

15,037,492

43,018,625

44,139,427

(6,882,030)

(3,787,979)

(14,327,158)

(13,688,900)

12,866,863

11,249,513 28,691,467 30,450,527

Net sales

Royalty and additional wellhead charge

Operating and administrative expenses

Exploration and prospecting expenditure

Finance cost

Other charges

Note

Other income

Finance income

Share of loss in associate

Profit before taxation

Provision for taxation

Profit for the period

Attributable to:

Equity holders of Mari Energies Limited

Non-controlling interests

30,466,528

(16,001)

30,450,527

12,883,788 11,265,514 28,677,254

(16,925) (16,001) 14,213

12,866,863 11,249,513 28,691,467

Earnings per share - basic and diluted

Earnings per ordinary share (Rupees) 18 10.73 9.38 23.89 25.38

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Abid Niaz Hasan

Managing Director / CEO

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

Three months period ended

31.12.2025

31.12.2024

(Rupees in thousand)

Six months period ended

31.12.2025

31.12.2024

(Rupees in thousand)

Profit for the period

Other comprehensive (loss) / income:

Items that will be subsequently reclassified to profit or

loss:

Effect of translation of investment in a foreign associate

Income tax effect related to effect of translation of

investment in a foreign associate - deferred tax credit

12,866,863 11,249,513 28,691,467 30,450,527

(17,650)

-

12,821,441 11,276,169 28,538,514

(16,925) (16,001) 14,213

12,804,516 11,260,168 28,552,727

12,804,516 11,260,168 28,552,727

(138,740)

10,655

(62,347)

(184,987)

46,247

10,655

-

(83,130)

20,783

(17,650)

Total comprehensive income for the period

Attributable to:

Equity holders of Mari Energies Limited

Non-controlling interests

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

30,432,877

30,448,878

(16,001)

30,432,877

Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Abid Niaz Hasan

Managing Director / CEO

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

Other reserves

Share capital

Capital redemption reserve fund

Self insurance reserve

Foreign currency translation reserve

Unappropriated profit

Total

Non-controlling interests

Total equity

(Rupees in thousand)

Total comprehensive income for the period:

Profit / (loss) for the period

Other comprehensive loss

-

-

-

-

30,466,528

30,466,528

(16,001)

30,450,527

-

-

-

(17,650)

-

(17,650)

-

(17,650)

-

-

-

(17,650)

30,466,528

30,448,878

(16,001)

30,432,877

10,672,200

(10,590,001)

-

-

(82,199)

-

-

-

-

-

-

-

-

-

2,000,000

2,000,000

-

-

-

-

(17,875,935)

(17,875,935)

-

(17,875,935)

Balance as at July 01, 2024 (Audited) 1,334,025 10,590,001 4,600,000 2,002,507 206,381,133 224,907,666 - 224,907,666

Issuance of bonus shares *

Subscription of shares of a subsidiary by non-controlling interests

Final cash dividend for the year ended June 30, 2024 @ Rs 134.00 per share *

Balance as at December 31, 2024 (Un-Audited) 12,006,225 - 4,600,000 1,984,857 218,889,527 237,480,609 1,983,999 239,464,608

Total comprehensive income for the period:

Profit for the period

Other comprehensive loss

-

-

- - 34,902,404 34,902,404 28,283 34,930,687

-

-

- (300,612) (195,884) (496,496) - (496,496)

-

-

- (300,612) 34,706,520 34,405,908 28,283 34,434,191

Total comprehensive income for the period:

Profit for the period

Other comprehensive loss

- - - - 28,677,254 28,677,254 14,213 28,691,467

- - - (138,740) - (138,740) - (138,740)

- - - (138,740) 28,677,254 28,538,514 14,213 28,552,727

- - - - - - 4,046,317 4,046,317

- - - - (26,053,508) (26,053,508) - (26,053,508)

Balance as at June 30, 2025 (Audited) 12,006,225 - 4,600,000 1,684,245 253,596,047 271,886,517 2,012,282 273,898,799

Subscription of shares of subsidiaries by non-controlling interests

Final cash dividend for the year ended June 30, 2025 @ Rs 21.7 per share *

Balance as at December 31, 2025 (Un-Audited) 12,006,225 - 4,600,000 1,545,505 256,219,793 274,371,523 6,072,812 280,444,335

* Distribution to owners - recorded directly in equity

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed

Faheem Haider

Chief Financial Officer

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS (UN-AUDITED)

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2025

31.12.2025

31.12.2024

(Rupees in thousand)

Note Cash flows from operating activities

Cash receipts from customers

Cash paid to the Government for Government levies

Cash paid to suppliers, employees and others - net

Income tax paid

Cash generated from operating activities

120,254,806

(62,738,245)

(16,633,993)

(1,826,900)

39,055,668

121,331,246

(42,995,055)

(34,091,100)

(5,746,479)

38,498,612

Cash flows from investing activities

Property, plant and equipment

Development and production assets

Exploration and evaluation assets

Proceeds from disposal of property, plant and equipment

Investment in associates

Proceeds from disposal of asset classified as held for sale

Income on mutual funds

Interest received

Cash utilized in investing activities

(20,474,713)

(13,893,669)

(7,443,804)

17,215

(500)

720,000

1,615,857

1,805,035

(37,654,579)

(5,909,739)

(11,787,237)

(2,745,314)

3,142

-

-

2,562,358

2,874,264

(15,002,526)

Cash flows from financing activities

Repayment of long term financing

Redemption of preference shares

Proceeds from long term financing

Finance cost paid

Subscription of shares of a subsidiary by non-controlling interests

Lease rentals paid - net

Bank balances under lien

Dividend paid

Cash utilized in financing activities

(62,500) (62,500)

(1,553) (222)

2,500,000 -

(42,597) (20,372)

3,948,317 -

(1,047,969) -

(332,036) -

(25,770,404) (17,742,102)

(20,808,742) (17,825,196)

(Decrease) / increase in cash and cash equivalents

(19,407,653)

5,670,890

Cash and cash equivalents at beginning of the period

88,794,367

74,886,395

Effect of exchange rate changes

(175,649)

(37,406)

Cash and cash equivalents at end of the period 19

69,211,065

80,519,879

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Abid Niaz Hasan

Managing Director / CEO

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

20.

DISCLOSURE REQUIREMENTS FOR SHARIAH COMPLIANT COMPANIES

Balance as at

31.12.2025

30.06.2025

(Rupees in thousand)

Note

Liabilities

Interest accrued on conventional long term financing Long term financing - as per islamic mode

Assets

Long term investments

Short term investments - Term deposit receipt

Shariah compliant

Short term investments - Mutual funds

Bank balances

Net sales

Share of loss in associate

Interest income on deposit accounts with banks Income on mutual funds

Source and detailed breakup of other income:

Income / (loss) from Mari Services Division

Gain on disposal of stores and spares/ property,

plant and equipment

Miscellaneous income

Miscellaneous income

Interest income on term deposit with banks Exchange (loss) / gain

169,191 151,173

604,708 -

Shariah compliant 12 19,497,962 19,877,835

Shariah compliant 2,705,051 4,317,468

3,008,767 -

Shariah compliant 1,114,974 5,721,999

Transactions for the six months period ended

31.12.2025

31.12.2024

(Rupees in thousand)

Shariah compliant 16 90,121,453 86,651,638

Shariah compliant (195,386) (217,375)

Shariah compliant 28,060 60,873

Shariah compliant 70,875 61,272

Shariah compliant 145,818 -

(236,857) 9,155

Shariah compliant 502,533 (19,509)

Shariah compliant

Shariah compliant

Non-Shariah compliant

102,375

113,611

448,571

51,194

-

91

1,053,479

145,387

Borrowing costs paid on islamic mode of financing

4,096

-

Borrowing costs paid on conventional long term financing

23,656

12,610

Names of the Group's shariah compliant financial institutions

Arrangement

1. Bank Alfalah Limited (Islamic)

2. Meezan Bank Limited

3. Faysal Bank Limited

4. Al Baraka Bank (Pakistan) Limited

5. Bank Islami Pakistan Limited

6. Dubai Islamic Bank

7. Bank of Punjab

8. National Investment Trust Limited

9. Al Meezan Investment Management Limited

10. Lucky Investments

11. United Bank Limited Al Ameen Islamic

Disclosures other than above are not applicable on the Group.

Bank deposit

Bank deposit

Bank deposit

Bank deposit

Bank deposit

Bank deposit

Bank deposit

Investment

Investment

Investment

Investment

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