Mari Energies LimitedPSX: MARI

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

· Issued by Mari Energies Limited
CONDENSED INTERIM FINANCIAL STATEMENTS (Un-audited)

For The Six Months Period Ended

December 31, 2025



COMPANY INFORMATION

Registered / Head Office

21- Mauve Area, 3rd Road, G-10/4

P.O. Box 1614, Islamabad 44000

Tel: 051-111-410-410, 051-8092200

Fax: 051-2352859

Email: info@marienergies.com.pk Web: marienergies.com.pk

Field Office Daharki Daharki, District Ghotki Tel: 0723-111-410-410,

0723-660403-30

Fax: 0723-660402

Karachi Liasion Office

D-87, Block 4, Kehkashan, Clifton

P.O. Box 3887, Karachi -75600

Tel: 021-111-410-410

Fax: 021-35870273

Quetta Liasion Office

26, Survey-31, Defence Officers . Housing Scheme, Airport Road, Quetta Tel: 081-2821052, 2864085, 2839790

Fax: 081-2834465

KP Liasion Office

Bannu Cantt

Tel: +92 8621794 - 5

External Auditors

A.F. Ferguson & Co., Chartered Accountants A member firm of PWC network

74- East 2nd Floor, Blue Area, Jinnah Avenue

P.O. Box 3021, Islamabad-44000, Pakistan Tel: 051-2273457-60

Email: Imtiaz.aslam@pwc.com Web: https://www.pwc.com/pk

Shares Registrar

M/s Corplink (Pvt) Limited Wings Arcade, 1-K Commercial Model Town, Lahore

Tel: 042-35839182, 042-35916714

Email: corporate@corplink.com.pk

Legal Advisor

Barrister Panni Law Associates Advocates - Corporate Consultants Apt. # E-1, Karakoram Enclave - 1

Hamza Road, Sector F-11/1, Islamabad. Tel: 051-2856086-88

Bankers Standard Chartered Bank

Allied Bank Limited Meezan Bank Limited

Askari Bank Limited Bank Islami Pakistan

Bank Alfalah Limited JS Bank Limited

Habib Bank Limited Dubai Islamic Bank Limited

National Bank of Pakistan Faysal Bank Limited

United Bank Limited Habib Metropolitan Bank Limited

Al-Baraka Bank Limited MCB Bank Limited Bank of Punjab

Bankers

Allied Bank Limited

Standard Chartered Bank

Askari Bank Limited

Meezan Bank Limited

Bank Alfalah Limited

Bank Islami Pakistan Limited

Habib Bank Limited

The Bank of Khyber

National Bank of Pakistan

Dubai Islamic Bank Limited

United Bank Limited

Faysal Bank Limited

Al-Baraka Bank Limited

Habib Metropolitan Bank Limited

Bank of Punjab

MCB Bank Limited

Sindh Bank Limited

Registration Number

00012471

National Tax Number

1414673-8

GST No.

07-01-2710-039-73

Symbol on Pakistan Stock Exchange

MARI

Registration, NTN and GST Numbers

Registration Number

00012471

National Tax Number

1414673-8

GST No.

07-01-2710-039-73

Symbol on Pakistan Stock Exchange

MARI

TABLE OF

CONTENTS

BOARD OF DIRECTORS COMMITTEES OF THE BOARD DIRECTORS' REVIEW AUDITOR'S REVIEW REPORT

CONDENSED INTERIM FINANCIAL STATEMENTS

Statement of Financial Position Statement of Profit or Loss Statement of Comprehensive Income Statement of Changes in Equity Statement of Cash Flows Notes to the Interim Financial Statements

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Statement of Financial Position Statement of Profit or Loss Statement of Comprehensive Income Statement of Changes in Equity Statement of Cash Flows Notes to the Interim Financial Statements DIRECTORS' REVIEW IN URDU

03

04

05

15

16-34

17

18

19

20

21

22

35-53

36

37

38

39

40

41

54

BOARD OF DIRECTORS

1

2

Lt Gen Anwar Ali Hyder HI(M) (Retd) Chairman, Non-Executive Director Mr. Syed Bakhtiyar Kazmi

3

4

Non-Executive Director Mr. Syed Shahzad Nabi Non-Executive Director Mr. Faheem Haider

5

6

Managing Director/CEO, Executive Director Mr. Mirza Nasiruddin Mashhood Ahmad * Non-Executive Director

Mr. Zafar Abbas

7

8

Non-Executive Director Mr. Ahmed Hayat Lak Non-Executive Director

Mr. Muhammad Aamir Salim

Non-Executive Director

9

Mr. Abid Hasan

10

Non-Executive Independent Director

Ms. Seema Adil

11

Non-Executive Independent Director

Ms. Ayla Majid

Non-Executive Independent Director

Mr. Nabeel Rasheed

Chief Financial Officer

Brig Sumair Ashraf Sheikh (Retd)

Company Secretary

*Joined the Board on February 4, 2026 in place of Mr. Momin Agha

COMMITTEES OF THE BOARD

AUDIT COMMITTEE

Director

Mr. Abid Niaz Hasan

Mr. Syed Bakhtiyar Kazmi

Mr. Mirza Nasiruddin Mashhood Ahmad Mr. Ahmed Hayat Lak

HR&R COMMITTEE

Director

Ms. Ayla Majid

Mr. Syed Shahzad Nabi Mr. Ahmed Hayat Lak Mr. Zafar Abbas

TECHNICAL COMMITTEE

Director

Mr. Syed Shahzad Nabi Mr. Zafar Abbas

Mr. Ahmed Hayat Lak Ms. Seema Adil

INVESTMENT COMMITTEE

Director

Mr. Syed Bakhtiyar Kazmi Ms. Ayla Majid

Mr. Zafar Abbas

Mr. Muhammad Aamir Salim

Designation Chairman Member Member Member

Designation

Chairperson

Member Member Member

Designation Chairman Member Member Member

Designation Chairman Member Member Member

ENVIRONMENT, SOCIAL & GOVERNANCE COMMITTEE

Director

Ms. Seema Adil

Mr. Abid Niaz Hasan

Mr. Mirza Nasiruddin Mashhood Ahmad Mr. Muhammad Aamir Salim

Designation

Chairperson

Member Member Member

MARI ENERGIES LIMITED DIRECTORS' REVIEW

We are pleased to present our review report along with the condensed interim standalone

and consolidated financial statements of the Company for the six-months period ended on December 31, 2025.

Key Highlights:

  • As on December 31, 2025, MariEnergies was the third most valuable company on PSX with market capitalization of over USD 3 billion.

  • The Company maintained operational continuity, achieved its highest-ever production of 119,747 BOEPD on October 06, 2025, and brought in multiple new wells on stream to sustain and enhance its production. This is despite the gas curtailments, unplanned shutdowns and extended turnarounds by customers during the period.

  • The Company, both independently and through the joint ventures, was awarded 23 offshore exploration blocks, including 18 blocks as Operator. This has expanded MariEnergies portfolio to 72 licenses and 15 DCP leases.

  • The Company progressed its exploration, appraisal and development program with successful drilling and completion of multiple wells, including a new oil discovery in the Ghazij Formation and confirmation of gas potential in the Shawal area. Drilling and well intervention activities continued across Mari, Waziristan, Zarghun South and Kalchas South blocks.

  • Key facility upgrades were also progressed, including commissioning of two evaporative coolers at Swing Volume Production Facility at Mari Field.

  • The Company continued to advance its ESG and sustainability agenda through capacity building, governance enhancement and structured initiatives aimed at strengthening regulatory alignment and sustainable business practices.

  • The Company strengthened its process safety and workforce capability through rollout of the Process Safety Management (PSM)framework, completion of HAZOP and risk studies, extensive safety performance with over 7 million man-hours without major incident, and delivery of structured emergency drills and training programs.

  • The Company's CCS project is progressing as planned, with FEED studies underway, regulatory and reservoir evaluations in progress, and the project registered with VERRA toward future generation of carbon credits.

  • The Company with its joint venture partner Ghani Chemical Industries Ltd. and incorporated GHG Emission Mitigation Ltd., a project company for vent gas processing at Mari Field's Sachal Gas Processing Complex.

    Page 1 of 10

  • The Company entered into a farm-out agreement with Hycarbex-American Energy Inc. for acquisition of 65% working interest in Peshawar Block along with operatorship.

  • MariMinerals, a wholly owned subsidiary, entered into a joint venture agreement with Globacore Minerals Limited (Globacore) for EL-322 and EL-323 (excluding East Siah Diq area in EL 323), transferring 49% working interest while retaining operatorship.

  • MariTechnologies, through its subsidiary SKY47, progressed the development of Tier III/IV data centers and advanced digital infrastructure, with significant work completed at Islamabad and preliminary development work initiated at Port Qasim, near Karachi. Additionally, installation of Huawei containerized solution for co-location and cloud services has been completed.

    Operational Environment and Key Challenges:

  • Security in Khyber Pakhtunkhwa and Balochistan continues to be a crucial consideration for operations. These areas are integral to key strategic projects, making robust risk management essential to protect personnel, assets, and ensure business continuity. The Company collaborates closely with law enforcement agencies and actively engages local communities through capacity building and CSR programs to implement adaptive security measures and build strong goodwill.

  • Forced gas curtailments by distribution companies due to high network pressure continue to challenge operations, impacting sales volumes, revenues and facility operability. The Company, along with industry, is actively discussing solutions with government stakeholders to address this issue and maximize benefits from indigenous production of hydrocarbons, which has resulted in reduction in number of LNG cargoes being imported. The news of reduction of at least 3 cargoes per month from January 2026 shall address this challenge to some extent.

  • The continuing issue of circular debt, amounting to Rs 81.0 billion, remains a significant challenge for the Company. This financial strain has the potential to disrupt key operations, including exploration, development, and production activities. The Company is actively working with authorities and stakeholders to resolve the issue and improve recovery trends. The Task Force established by the government is working on a circular debt management plan which, once approved, is expected to address issues related to circular debt. The government is committed to ensure consumer prices that prevents further accumulation of circular debt. The Company remains optimistic that the matter will be resolved.

DETAILED REPORT

HEALTH, SAFETY AND ENVIRONMENTAL PERFORMANCE

The first six months reflected strong, disciplined Health, Safety, and Environment (HSE) performance, emphasizing process safety maturity, safety culture reinforcement, and operational assurance across all assets.

Page 2 of 10

Annual Safety Week (Nov 2025) was successfully executed under the theme "HSE Excellence through Integrity and Unity." An integrated action plan was developed post-event and is being implemented across all locations.

The Process Safety Management (PSM) Framework was rolled out, supported by HAZOP and Layers of Protection Analysis processes. Five project HAZOP studies and four cyclic studies for satellite fields were completed. Leadership capability was enhanced through a train-the-trainer model, with 48 PSM Champions trained on DSS+ methodology.

Over 10,000 critical jobs were completed safely, covering 7 million man-hours and 3.41 million km driven without major incidents. Workforce capability was strengthened through 416 emergency drills and delivery of 29,370 training man-hours through structured in-house and external programs.

The Company continued to advance its Environmental, Social G Governance (ESG) and Sustainability Leadership through focused capacity building, external recognition, and structured implementation initiatives.

To strengthen governance and technical capability, third-party training on IFRS S1 and IFRS S2 was conducted for the ESG Working Group, complemented by a four-day training on ISO 50001:2018 Energy Management System. A comprehensive gap assessment against SECP ESG Guidelines was completed, and departmental engagements have been initiated to address identified gaps for regulatory alignment.

Further reinforcing its sustainability commitment, the Company commenced a phase-wise transition to green vehicles and activated its membership with the United Nations Global Compact, underscoring its dedication to responsible and sustainable business practices.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Over the past six months, the Company's CSR initiatives strengthened partnerships and systems to support sustainable community development. Key activities included impact assessments across education, healthcare, food security, livelihoods, and women empowerment. Strategic collaborations were established with Hashwani Hotels for hospitality skills training of youth from Waziristan, BUITEMS for industry-academia collaboration and scholarships, and Aror University to advance education, digital skills, and inclusive capacity building in and around Daharki. The Digital IT Skills Bootcamp was launched in partnership with xLoop Digital to develop future-ready talent in Artificial Intelligence, Machine Learning, and Full-Stack Development for youth from operational areas. The Kareera Valley household solarization project commenced execution, the Mehran Block at Mari Model High School was inaugurated, and the Sehat Umeed Program continued providing free healthcare. These efforts are strategically designed to empower local economies, strengthen stakeholder relationships and leave a lasting positive legacy in the communities we operate in.

FINANCIAL PERFORMANCE

Despite additional 15% wellhead charge on Mari Field from November 2024, the Company demonstrated remarkable operational and financial resilience by reporting Net Sales of Rs. G0.1 billion with a Net Profit of Rs. 28.4. Earnings per share for the period was Rs.

Page 3 of 10

23.6G per share. Reconciliation of 1H 2025-26 profit with 1H 2024-25 is as follows:

Profit after tax - 1H 2024-25

30.4

Additional Wellhead Impact

(4.9)

Others - Positive

2.9

Profit after tax - 1H 2025-26

28.4

Description

Six-months period ended December 31

Increase / (Decrease)

2025

2024

(Rs. in Million)

Net Sales

90,121

86,652

4%

Profit Before Tax

42,700

44,036

(3%)

Income Tax

(14,259)

(13,640)

(5%)

Net Profit

28,440

30,3G6

(6%)

EPS (Rs. Per Share)

23.69

25.32

(6%)

EPS (Consolidated - Rs. Per Share)

23.89

25.38

(6%)

Increase in net sales is primarily on account of higher sales volume and better pricing as compared to the corresponding period.

Profitability was impacted by the imposition of 15% additional wellhead charge on sales from the Mari Field and decline in finance income, reflecting the decreased policy rate that were offset largely with increase in net sales, decrease in operating C administrative and exploration C prospective expenses.

CORE BUSINESS ACTIVITIES

The Company's core business activity program is strategically focused on expanding its resource base, progressing resources to reserves and building production capacity through targeted Access, Exploration, Appraisal, Development and Production activities. Significant progress was achieved during the period following the annual budget plan, demonstrating the effectiveness of these initiatives and reinforcing the Company's commitment to sustainable growth and operational excellence.

ACCESS:

Page 4 of 10

MariEnergies, both individually and through joint ventures, has been awarded twenty-three new offshore exploration blocks in the Pakistan ECP Offshore Bid Round held on October 31, 2025, by the Ministry of Energy (Petroleum Division), Of these, eighteen blocks have been awarded as Operator and five as a non-operating partner alongside other leading ECP companies. The awards were based on competitive bidding and work unit commitments, reflecting the Company's strong technical capability and strategic positioning.

The joint venture partners in these blocks include Turkish Petroleum Overseas Company Limited, Oil and Gas Development Company Limited, Pakistan Petroleum Limited, Prime Global Energies Limited, United Energy Pakistan Limited, Orient Petroleum Inc. and Fatima Petroleum Company Limited.

MariEnergies, along with Fatima Petroleum Company Limited (FPCL), has entered into a farm-out agreement with Hycarbex-American Energy Inc. ("Hycarbex") for the Peshawar Block in Khyber Pakhtunkhwa. Under the agreement, MariEnergies will acquire 65% working interest and Operatorship, while FPCL will take 25% working interest and the transaction is subject to regulatory approvals. In addition, the Company also participated in onshore bid round held in October 2025 and secured Block-28 North, Balochistan.

With the addition of these blocks, the Company's portfolio will expand to 72 Licenses and 15 DGP leases, including Offshore Block 5 in Abu Dhabi.

EXPLORATION:

Seismic Data Acquisition Projects and GGM Survey:

Sr

Seismic/ GGM Projects

Operator

Initiated in

Status

Operated Blocks

1

Wali West - 2D Seismic

MariEnergies

2022-23

Crew demobilized due to security

reasons

2

Sharan - 2D Seismic

MariEnergies

2023-24

Acquired 150 L. kms in the Western part of Block. Crew was demobilized as planned seismic in the Eastern Part couldn't be acquired due to security

reasons.

3

Waziristan GCM Survey C

2D Seismic

MariEnergies

2025-26

GCM is in progress

Non-operated Blocks

1

Kohat - 3D Seismic

OGDCL

2025-26

Camp construction is completed. Parameter Testing preparation is in progress.

Exploration Wells:

  • Ghazij exploration wells Ghazij CF-A1, and Ghazij CF-C1 were successfully drilled and completed in Ghazij formation. Ghazij CF-B1 was completed as an oil producer, marking the second oil discovery from the Ghazij Formation, testing at 305 BPD oil and 3 MMscfd gas at 225 psi WHFP.

  • Zarghun South Ghazij-1 well in Zarghun South DCPL was spud in on August 19, 2025, to test the hydrocarbon potential of limestone reservoir beds within Ghazij Formation. The well is Plugged and Suspended and post-well studies are underway.

    Page 5 of 10

  • Tibri-1 well in Kalchas South Block was spud-in on November 11, 2025, to test the hydrocarbon potential of Sui Main Limestone and Ranikot/Pab Sands. The well has reached its TD and currently testing is in progress.

    APPRAISAL:

  • Shawal appraisal wells (Shawal-3, Shawal-4, and Shawal-5) were completed as gas producers, as part of the Shawal appraisal program.

  • Spinwam East-Shewa-3 well in Waziristan Block was spud-in on August 11, 2025, to appraise the hydrocarbon potential of Lockhart, Hangu C Kawagarh Formations at Shewa discovery. Currently, drilling of the well is in progress.

    DEVELOPMENT:

    Development Wells:

  • Three Ghazij development wells, Ghazij-11, Ghazij-12 and Ghazij 13 were successfully drilled and completed in the Ghazij formation. Ghazij-12 and Ghazij 13 have been shortlisted for a hydraulic fracturing job planned in second half of the current fiscal year under the pilot frac project. Moreover, drilling of Ghazij-14 well has been completed and awaiting testing.

  • SML-2, a smart completion development well, was drilled and tested at approximately 5 MMscfd of gas from the Ghazij reservoir and about 2.7 MMscfd from the SML-SUL reservoirs.

  • Development well MD-24 in Mari Deep (Goru-B) is currently under drilling to enhance gas recovery and sustain plateau production from the field.

    Well Interventions:

  • Acid stimulation jobs carried out at Bhitai-5, Shaheen-3, and SML-1, resulted in a cumulative increase of approximately 4.5 MMscfd in gas production, supporting the sustained plateau production of 58 MMscfd from the SML-SUL reservoirs.

  • A Rig workover was performed on Adam West X-1 ST well (Hala Block, partner-operated) in October 2025 and successfully completed with application of swellable packers' technology in massive sands. The well has been successfully revived producing approximately 7.00 MMscfd of gas at around 550psig wellhead flowing pressure.

Development projects:

Mari HRL: Optimizing Swing Volume Flow Through Evaporative Cooling Integration

Page 6 of 10

Previously, elevated gas temperatures constrained gas sales volumes from the SVPF, particularly during peak summer periods. To mitigate this issue, two evaporative coolers have been installed and commissioned. As a result, SVPF can now consistently supply approximately 57 MMscfd of specified gas during high-temperature conditions, enhancing operational reliability and sales volume stability.

Mari HRL Pressure Enhancement Facilities (PEF) Project

MariEnergies, in collaboration with its fertilizer customers, is implementing the PEF project at the Mari Field to sustain the HRL plateau production. Debottlenecking (DBN) Phase II is underway, with four pipeline loops completed, while the compression project is currently ongoing.

Mari SGPC Carbon Capture and Sequestration (CCS) Project

The Carbon Capture and Storage (CCS) initiative, now branded as "Cquestra", is progressing in line with its development plan. The Front-End Engineering Design (FEED) study is currently underway, complemented by reservoir evaluations and regulatory engagements aimed at securing carbon credit certification. The project has been registered with VERRA, the voluntary carbon credit platform, as an under-development project, and preparatory actions for the next stage "Under Validation" are in progress to meet VERRA's requirements. Upon successful validation, the project will qualify as an emission reduction initiative, enabling the generation of carbon credits.

Offshore Block-5 (UAE)

Following the execution of the PCA, the project has formally transitioned into the development phase, and it is progressing in line with the approved development plan. Exploration activities are also in progress as per the approved work program.

Approval of Commerciality / Field Development Plan / Grant of Lease

The government has approved Declaration of Commerciality and the Field Development Plan and granted DCP Lease over Bolan East Field, located in Balochistan, for 20 years w.e.f., 8th July 2024. Declaration of Commerciality over Shewa Discovery has also been approved by the Government, w.e.f. 07th April 2025.

PRODUCTION:

Page 7 of 10

The hydrocarbon sales during the period are summarized below:

Period ended December 31

Increase /

(Decrease) Cumulative

2025

2024

Cumulative

Per day

Cumulative

Per day

Gas (MMSCF)

Mari Field

140,735

765

143,675

781

-2%

Other Fields

6,823

37

3,003

16

127%

147,558

802

146,678

7G7

1%

Crude oil (BBLs)

Mari Field

22,951

125

24,777

135

-7%

Other Fields

234,692

1,276

201,136

1,093

17%

257,644

1,400

225,G13

1,228

14%

Total Net Sales in

BOEs

19.89

Million

108,079

(per day)

1G.55

Million

106,254

(per day)

2%

Production during the period was adversely impacted by forced gas curtailments from Swing Volume Processing Facility (SVPF), SGPC, and Shewa imposed by SNGPL, along with prolonged gas suspension at Shewa due to pipeline ruptures. Additional constraints arose from an unplanned shutdown, extension of Annual Turnaround from fertilizer customers from 20 to 40 days. Despite these challenges, the Company demonstrated operational resilience and ensured continuity of supply through effective coordination and mitigation measures. The Company achieved a historic milestone by recording its highest-ever sales rate of 119,747 BOEPD on October 6, 2025, surpassing the previous record of 118,739 BOEPD set in August 2025. This achievement underscores the effectiveness of production management strategies and optimization initiatives. To further enhance production capacity, MD-23, Bolan East-2, SML-2, and Ghazij CF-B1 wells were successfully brought on stream, reinforcing the Company's commitment to sustaining and expanding its production capacity and hydrocarbon output.

Key facility upgrades were also completed, including commissioning of two evaporative coolers at SVPF to ensure on-spec gas delivery during peak temperatures. Additionally, Cyclic HAZOP Phase-II studies for Bolan, Zarghun, Halini, and Kalabagh facilities were concluded, reinforcing the Company's commitment to operational integrity, process safety and regulatory compliance.

MARI SERVICE DIVISION:

During the first two quarters of FY 2025-26, Mari's drilling and geoscience units delivered extensive operational and third-party services. The Mari Drilling Unit (MDU) provided drilling services for 10 exploratory, appraisal, and development wells, while the Mari Mud Logging Unit supported wells in Mari DCPL. The Mari Gravity and Magnetic Unit (MGMU) acquired 406 shot points in the Waziristan Block. The Mari Seismic Processing Center (MSPC) continued work on 11 onshore and offshore data processing projects and completed processing for a third-party project in the Kuhan Block.

DIVERSIFICATION EFFORTS

Joint Venture Agreement with Ghani Chemical Industries

MariEnergies entered into a Joint Venture Agreement with Ghani Chemical Industries Ltd. through which a project company "GHG Emission Mitigation Limited (GEM)" for processing vent/exhaust gas from the Sachal Gas Processing Complex (SGPC) at Mari Field, Daharki has been incorporated. The objective is to recover hydrocarbons from the exhaust gas for production and sale as liquefied natural gas (LNG), along with industrial and food-grade liquid CO₂.

Mari Minerals (Private) Limited

Page 8 of 10

MariMinerals, a wholly owned subsidiary of MariEnergies, has entered a Joint Venture Agreement with Globacore for mining licenses EL-322 and EL-323 (excluding East Siah Diq area in EL 323), transferring 49% of its working interest while retaining operatorship. Exploration activities, including drilling, are currently underway on both licenses.

Mari Technologies Limited

MariTechnologies, through its majority-owned subsidiary, SKY47 Limited, it is developing Tier III/IV certified data centers to strengthen Pakistan's digital infrastructure. At the Islamabad site, significant portion of development work has been completed, Huawei containerized cloud solutions is operational, and major equipment shipments are underway. Zone Enterprise License has been issued to Sky47 by Special Technology Zone Authority (STZA). Works on 11KV power transmission line (permanent connection) is in progress.

Awards and Recognitions:

  • MariEnergies' Integrated Annual Report 2024 won the Bronze Award (Power C Energy Sector) along with Certificates of Merit in Corporate Governance and Integrated Reporting, at the SAFA Best Presented Annual Report Awards, Integrated Reporting Awards, and SAARC Anniversary Awards for Corporate Governance Disclosure Competition 2024, on November 27, 2025.

  • MariEnergies' Integrated Annual Report 2024 secured 1st Position in the Fuel C Energy Sector, 3rd Position in Best Sustainability Report, and 5th Position in Overall Best Corporate Report at the Best Corporate & Sustainability Reports Awards 2024 organized by ICAP and ICMAP, in November 2025.

  • MariEnergies was ranked at No. 07 amongst the Top Companies on Pakistan Stock Exchange for the Year 2024. The notification was issued by PSX on December 10, 2025.

  • MariEnergies won Environment Excellence Award at the Annual Environment Excellence Awards 2025, organized by the National Forum for Environment and Health on July 28, 2025.

  • ESG Excellence Award in Renewable Energy Development at the ESG Summit Pakistan 2025, held on September 25, 2025.

    FUTURE OUTLOOK OF THE COMPANY

    The Company remains fully committed to its Vision 2030 and long-term growth strategy. The primary focus is on strengthening core business to ensure national energy and food security. Company's diversification into mining and technology sectors represents a strategic extension, aligned with its broader objectives and reinforces its path toward sustainable growth and positions it as a national leader in ESG.

    The Company's key priorities in the short to medium term include the following:

  • Development of Ghazij and Shawal discoveries to provide gas to Fertilizer Plants as allocated by the Government.

  • Development of Shewa, Spinwam, Soho and Pateji discoveries.

  • Surface and subsurface activities for execution of HRL PEF Project in Mari Field

  • Construction and operationalization of data centers in Islamabad and Karachi

  • Focused drilling operations under its mining licenses

    Page G of 10

  • Mitigating greenhouse gas emissions from the Sachal Gas Processing Complex through the capture, processing, and purification of cold vent/exhaust gases through GEM.

DIVIDEND

During the period, the Company paid the final cash dividend of Rs. 21.7 per share (217%) for the year ended June 30, 2025, after approval of Shareholders on September 26, 2025. Further, the Board of Directors in its meeting held on January 26, 2026, has declared an interim cash dividend of Rs. 8.3 per share (83%) for the year ending June 30, 2026.

TRIBUTE TO LAW ENFORCEMENT AGENCIES (LEAs)

Company extends deepest gratitude and appreciation to the Law Enforcement Agencies. Their bravery inspires us and their commitment towards safeguarding our people and operations of national importance is commendable.

ACKNOWLEDGEMENT

The Board of Directors would like to commend all employees of the Company for their dedication and commitment to delivering various significant projects of national importance.

The Board also wishes to express its appreciation for the continued assistance and cooperation received from Federal and Provincial Governments, Local Administrations and various departments of the Federal Government especially the Ministry of Energy (Petroleum Division), Ministry of Finance, OGRA, DGs (Petroleum Concessions, Oil and Gas), Fauji Foundation, OGDCL, FBR, LEAs, Suppliers, JV partners, and all other stakeholders.

For and on behalf of the Board



Faheem Haider Lt. Gen. Anwar Ali Hyder, HI (M), (Retd)

Managing Director/CEO

Page 10 of 10

Islamabad January 26, 2026

Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 15



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 16



Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 17



Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 18



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 19

Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman



Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 20



Nabeel Rasheed

Chief Financial Officer

Faheem Haider

Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd)

Chairman

FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 21



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 22







FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 25



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 26



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 27



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 28



FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31 , 2025 29



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