Presentation of Corporate Briefing Session on the Financial Results for the Financial Year ended June 30, 2025 and for the 1st Quarter ended September 30, 2025 of Pakistan Stock Exchange Limited

Corporate Briefing Financial Results For The Year Ended June 30, 2025 & First Quarter Ended September 30, 2025

Financial Performance - FY 2024-25 & 1QFY25-26

Financial Performance - FY 2024-25 & 1QFY25-26

Total Revenue

(PKR Million)

3,989

3,114

2,100

1,887

1,825

1215

451

520

435

590

780

5000 4000 3000 2000 1000 0 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 1Q FY 2026 1st Quarter Financial Year

YoY Growth 59% (13%) (5%) 71% 28% 56%

CAGR (Annual) 14%

Major Revenue Analysis

(PKR Million)

Total Expenses

(PKR Million)

2,004

2,061

1,574

1,372

1,427

380

357

2,500

2,000

1,500

1,000

500

-

FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 1Q FY 2026 1st Quarter Financial Year

YOY Increase 16% 4% 10% 27% 3% -2%

Total expenses (excl D&A) as a percentage to total revenue



80.00%

64.26%

73.29%

60.00%

51.54%

54.07%

40.00%

43.63%

36.92%

20.00% 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 1Q FY 2026 Variation in total expenses (excl D&A) with inflation

29.18%

5.00%

3.25%

12.29%

10.27%

23.41%

25.93%

4.49%

3.38%

0.00%

FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

Inflation rate Variation in total expenses (other than depreciation)

Operating Profit or Loss

(PKR Million)

500

1st Quarter Financial Year

401

400 300 200 100 93

27

-22

113

205

0 -100

31 24

FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 1Q FY 2026

-30 -11

-109

-200

YoY Change 147% (71%) (504%) 2x 2.5x 19.6x

Profit Before Tax

(PKR Million) 2000

1,928

1600 1200

1,110

800

722

400

460

250

686

163 163

0 55

131

238

FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 1Q FY 2026 1st Quarter Financial Year

YoY Change 280% (36%) (46%) 344% 74% 1.88x

Net Assets - FY 2025 & 1Q FY2026

PSX Five Years Trend Analysis

*The Market Price of 18th November 2025, was Rs.41.75 per share and the market cap was Rs. 33.46 billion(USD 119 million).

KSE 100 Index 180,000 160,000

165,494

140,000 120,000

125,627

100,000 80,000

78,445

60,000 40,000 20,000 - 1Q2026

YoY Change 38% (12%) (0%) 89% 60% 32%

Market Capitalization

Rs.in Billion

25,000 20,000

(USD 68)

19,264

15,000

(USD 54)

15,240

10,000

(USD 53)

8,297

(USD 34) (USD 22)

6,957 6,369

(USD 37)

10,375

5,000 - 2021 2022 2023 2024 2025 1Q2026

YoY Change 27% (16%) (8%) 63% 47% 26%

Average Daily Trading Value

Rs.in Million

70,000

(USD 227)

63,737

60,000 50,000 40,000

(USD 147)

41,712

30,000 20,000 10,000

(USD 182)

28,743

(USD 73)

14,935

(USD 35)

10,111

(USD 82)

22,711

- 2021 2022 2023 2024 2025 1Q2026

YoY Change 1.8x (48%) (32%) 1.2x 84% 53%

Average Daily Trading Volume

in Million

1400 1200

1,198

1000 800 600

697

637

861

400

425

293

200 0 2021 2022 2023 2024 2025 1Q2026

YoY Change 1.4x (39%) (31%) 1.2x 35% 39%

Equity & Debt Listings

30 25 20

18

15 7 10

27 27

21 11

13 19

5

12

4

3

10

6

4

12

5

5 5 4

0

11*

2021 2022 2023 2024 2025 Equity Debt Funds

*This includes 3 IPO / offer for sale, 4 Cos listed through court orders / scheme of arrangement, 3 on GEM board & 1 class "C" shares listing.

Active UIN from Jan 25 to Sep 25 150,000

140,000

143,860

130,000 120,000 110,000 100,000 90,000

102,914

92,217 90,182

103,282 102,184 105,789

121,545 123,593

80,000 70,000 60,000 50,000 Jan Feb Mar Apr May Jun Jul Aug Sep

Key achievements/ initiatives

• Three year strategic road map launched in May 2025, centered around 3 pillars i.e. Market Development, Operational Excellence and Governance.

• Transition to T+1 settlement cycle by Feb 2026. This will facilitate faster access to funds, reduced operational and systemic risks, and enhanced liquidity.

• Launched the country's inaugural Sovereign Domestic Green Sukuk in May 2025, raising PKR 31.98 billion.

• Implemented several initiatives to boost GIS liquidity and accessibility in the GIS secondary market including onboarding of banks and mutual funds for GIS direct trading access, same-day / instant settlement via Negotiated Deals Market, GIS Revaluation mechanism and extended trading hours and reduced trading fees and standardized brokerage commission.

• Growth in GoP Ijarah Sukuk (GIS). 13 GIS auctions were held during FY25. Strong participation from banks, mutual funds and brokerage firms. PKR 2.21 trillion were raised in FY25 versus PKR 652 billion last year.

• Partnered with the United Nations Conference on Trade and Development (UNCTAD) and Asian Development Bank (ADB) to integrate GIS data into Debt Management and Financial Analysis System (DMFAS), improving debt transparency and reporting standards.

• PSX is all set to launch Cash Settled Futures by Dec 2025 with some unique stocks not available in other leverage/derivative market, along with some improved version of product features such as alignment of final settlement price with ready market and ratio method to adjust the futures contract due to corporate action in underlying stocks.

  Key achievements/ initiatives

  
  
  

• Launched KSE 100 Price Return Index (KSE100PR) in June 2025, a variant of the KSE-100 Index that excludes cash dividends, offering a pure price-based market view. Backdated to April 1, 2009, it provides over 15 years of historical data for trend analysis.

• Onboarded 25 new data clients reflecting strong growth in its data vending business. PSX has also introduced a Data Shop in partnership with Deutsche Börse AG, where daily market statistics, historical data, index constituents data and corporate announcements can be monetized at par with international pricing of our market size and interest.

• A plan is being discussed with SECP and CMIIs to introduced a Shariah trading window for Shariah conscious investors as well as institutional clients.

• The Legacy Book Building application has been revamped in Sept-2025. It is built on newer technologies and is compliant with the new Public Offering regulations. This application will allow multiple Book Buildings at a time, margin collection and settlement via NCCPL and allowance to have multiple eligible participants to bring their investors, rather than reliance on a single Consultant to the Issue(CTI) earlier.

• Developed Unlisted Companies Portal for unlisted companies in Jan 2025 to upload their financial reports, thus ensuring transparency and accountability.

• Conducted DR drill in May 2025 to validate smooth recovery of PSX's core operations during a disaster.

• Facilitated five stock splits - PSX introduced process improvements in Dec 2024 to enable stock splits without requiring a trading suspension in the corresponding security - a departure from prior practice.

  Key achievements/ initiatives

  
  
  

  • Onboarded the first Online-Only broker under a new licensing regime, a one-window digital platform for companies expanding digital access.

  • Increased circuit breakers in July 2024 from 7.5% to 10% to manage volatility.

  • PSX has initiated the consultative sessions with brokers to introduce single stock options market and 2 dedicated sessions have already been conducted.

  • PSX is actively promoting responsible investment and ESG transparency. In line with SECP directive and the Prime Minister's Women Empowerment Package, over 370 listed companies have disclosed gender pay gap data. ESG awareness sessions were held with the London Stock Exchange Group (LSEG) and gender equality training was conducted under the UN SSEI initiative in June 2025.

  • PSX continues strategic partnership with other players and has signed MoUs with exchanges in China, Dhaka, Colombo, and Baku to foster cross-border collaboration, dual listings, product development, and staff exchanges. A notable MoU with IBA Karachi grants academic access to PSX's market data, supporting research and student development.

  • Successfully navigated geopolitical tensions while maintaining market stability.

  • The PSX has launched a new Complaint Management System in Jun-2025 designed to empower investors in addressing grievances against brokers. This user-friendly platform enables investors to lodge complaints easily and track their progress in real-time till closure.

Thank You