QIC – Ordinary and Extraordinary General Assembly Summary – Mar 2026(EN)

Qatar Insurance

Insurer of the Yeor in Qatar

Qatar Insurance

Mr. Khalifa Abdulla Turki Al-Subaey

Member

Sheikh Saoud bin Khalid bin Hamad Al Thani

Member

Sheikh Faisal bin Thani bin Faisal Al Thani

Member

Corporate Governance

Financial statements

BOARD OF DIRECTORS

Sheikh Hamad bin Faisal bin Thani Jasim Al Thani

Chairman

Mr. Ali Youssef Hussain Ali Kamal

Member

Mr. Ibrahim Jassim Abdul Rahman Al Othman Fakhro

Vice chairman

Sheikh Abdulrahman bin Saud bin Fahad Al Thani

Independent Member

Mr. Mohammed Jassim M A Jaidah

Member

Sheikh Tamim bin Hamad bin Jassim bin Jabor Al Thani

Member

Mr. Ali Hussain Ibrahim Al-Fardan

Member

Mr. Abdul Rahman Essa Al Mannai

Vice chairman

Introduction

Strategic Review

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QATAR INSURANCE COMPANY Q.S.P.C. | ANNUAL REPORT 2025 ANNUAL REPORT 2025 | QATAR INSURANCE COMPANY Q.S.P.C.

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BOARD OF

DIRECTORS' REPORT 2025

QIC Board of Directors' Message 2025

Dear Esteemed Shareholders,

The Board of Directors of QIC Group (QIC) is pleased to present QIC's 2025 Annual Report, which includes QIC's consolidated financial statements for the full year 2025. In this message, we present a summary of the year's financial and strategic highlights, together with an overview of QIC's 2025 activities and its outlook for 2026.

We are honoured to report that QIC continued to report strong earnings growth and balance sheet capitalisation through 2025 despite the challenging global environment. QIC supported clients in its core Middle East and North Africa (MENA) and international markets and continued to push the boundaries of insurance product and customer service innovation and excellence.

Financial statements

Robust investment returns

Trail-blazing digital transformation, product innovation and customer experience

In terms of risk diversification, the Company grew its GWP in personal lines, health and property. For personal lines, innovative new products and strong digital offerings were key growth drivers. The Company has de-risked its exposure to direct UK motor business and currently the Company's exposure to UK motor business remains limited to reinsurance.

The outcome of these strategic adjustments and consolidation is a consistent, stable and robust, profitable underwriting portfolio with a full-year 2025 Insurance Service Result (ISR) of QAR 506 million.

QIC Group manages a high-quality, well-diversified investment portfolio with a stable year-on-year composition. As of 31 December 2025, Assets Under Management remained stable year on year at QAR 18.6 billion. Investment and Other Income rose by 1% year on year to QAR 993 million. The Company also reported a robust Return on Investment of 5.1%, compared to 5.0% for 2024.

QIC continues to trailblaze client-centricity, service and product excellence, and operational efficiency, including through its commitments to innovation, digital transformation and the integration of AI technologies. QIC remains the MENA region's leading digital insurance provider, as evidenced by the many prestigious awards received by QIC in 2025.

Strategic Review

In 2025, QIC launched two innovative new insurance products: Qatar's first-ever personal lines school fees protection insurance - in line with its commitment to support the objectives of the Third Financial Sector Strategic Plan of the Qatar

Sustained earnings growth despite global fragility

Strong, well-balanced underwriting portfolio

1 Before Pillar Two global tax provision.

Globally, 2025 saw ongoing elevated geopolitical tensions, protectionism and policy uncertainty, with global GDP growth remaining a shadow of its former, pre-Covid self. However, the global economy also displayed resilience, with the global GDP growth forecast recovering to 3.2% (OECD) before year end 2025 after the downturn of the April 2025 US tariff shock. The MENA region's forecasted GDP growth rate similarly rebounded before year end to reach 3.3% (IMF), supported by factors including economic and trade diversification, robust public investment, strong consumer spending and easing inflation.

Against this backdrop of global lacklustre growth and sustained fragility, QIC reported Net Profits for the full year 2025 of QAR 874 million, representing a 19% increase compared to 2024 , and a 10% year-on-year increase in Earnings per Share. Profit attributable to shareholders of the parent for the year 2025 is QAR 791 million. Including the impact of Pillar II tax, which was newly introduced in 2025, the increase in Net profits for the full year 2025 will be 10% compared to the previous year.

By year end 2025, QIC's strategic rebalancing of its underwriting portfolio to profitable business in its GCC region resulted in domestic (Qatar) and MENA operations accounting for 59% of Gross Written Premiums (GWP), compared to 52% in 2024 and less than 20% in 2021. The company maintains its position as the largest insurer in Qatar and is among the top insurers in the United Arab Emirates and Oman, by insurance revenue. International business remains an important component of the portfolio (2025, 41%) and is predominantly written through QIC's subsidiary Antares Syndicate operating at Lloyd's of London.

Central Bank - and Qatar's first-ever personal lines cyber insurance.

Corporate Governance

It also made further customer-centric enhancements to its car and travel insurance services and to the award-winning QIC App, which is one of MENA's fastest growing consumer platforms in Qatar and the only one to combine insurance and non-insurance services. For example, QIC added the possibility to obtain on-the-spot car insurance for vehicles that pass inspection at its inspection centre outlets or via the QIC App and expanded the content on its QIC Reads platform to help customers navigate vehicle registration regulation. It also introduced a new "Events" feature on the QIC App, whereby customers can browse and buy tickets for sporting, cultural and entertainment events across Qatar.

Furthermore, by partnering with leading brands, QIC expanded the redemption options of its Coins loyalty program. QIC App and qic.online users can now benefit from a greater range of complimentary services, offers and gifts via a digital voucher system. In celebration of Qatar National Day, QIC offered bonus loyalty coins to new QIC App customers and teamed up with a local design studio to add exclusive artwork gifts reflecting national unity and pride.

QIC also continues to promote Qatar as a regional innovation hub, for example through its MENA Insurtech and Fintech summits. QIC also held an intensive internal AI training programme in 2025 for senior management and its Public Relations, Marketing and Business Development teams to promote the integration of AI technologies to amplify the QIC brand, reach new markets and strengthen stakeholder relationships.

Introduction

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Financial statements

Strength through unified leadership and teams

Strategic Review

Corporate Governance

Championing ESG and community health

QIC's 2025 Global Executive Leadership Meeting brought together CEOs and senior leaders from across the group to reinforce unified leadership, shared purpose and strategic clarity, to align priorities, to share insights and to accelerate collective efforts across markets.

Forbes Middle East named Salem Al Mannai, Group CEO of Qatar Insurance, as one of its "Top 100 CEOs in the Middle East". As the only insurance-sector CEO in this prestigious ranking, this accolade reflects QIC's clear strategic focus, teamwork and dedication to supporting the region's long-term development goals, and its notable sustainability achievements.

Looking to the future by investing in the next generation of industry leaders, QIC successfully carried out its 2025 Summer Internship Programme, providing a structured business learning experience for select high-achieving school students from across Qatar.

QIC complies with the requirements and principles ofgovernance in accordance with the corporate governance code for legal entities listed in the primary market

- issued by the Qatar Financial Markets Authority, and in accordance with the corporate governance code for insurance companies issued by the Qatar Central Bank. The Annual Report on Corporate Governance (copy attached) describes QIC's compliance with the corporate governance code and will be submitted to Qatar Financial Markets Authority (QFMA) after its approval at the 2025 Annual General Meeting.

As of 22 May 2025, QIC was the first company in Qatar and only insurer in the MENA region to receive a provisional ESG 'AAA' ESG rating from MSCI ESG Research.

Aligned with Qatar's national goal to reduce greenhouse gas emissions by 25% by 2030, QIC has a comprehensive Environmental, Social, and Governance (ESG) framework, which we the Board have formally endorsed, as well as a dedicated ESG and Sustainability Committee to integrate sustainability principles across its underwriting and investment operations. An example of QIC's climate commitments is the One Million Tree Initiative, a nationwide reforestation project launched in partnership with the Ministry of Environment and Climate Change.

QIC sees the promotion of community health and wellbeing as a core pillar of its social responsibility and alignment to the Qatar National Vision 2030. Reaffirming its dedication to building a stronger, healthier future for everyone, the Company conducted a series of initiatives in 2025 in collaboration with the Qatar Cancer Society (QCS). As part of Breast Cancer Awareness Month, QIC organized an event for its female employees sharing insights on cancer risk factors, symptoms and early detection, as well as nutritional and lifestyle guidance to reduce cancer risk. QIC was also proud to serve as the 2025 insurance sponsor of QCS's "Relay for Life" event and walk.

Introduction

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Prestigious awards for innovation, service excellence and financial strength

Supporting Qatar's heritage

Strategic Review

Corporate Governance

Financial statements

S&P and AM Best rating

In recognition of the Company's leadership in digital innovation and service excellence, and its strong financial position, QIC was named "Best General Insurance Company in Qatar" at the World Finance Awards 2025 for the third year running and "Insurance Company of the Year in Qatar" at The Asset Triple A Private Capital Awards 2025. Acknowledging QIC's outstanding achievements in establishing Qatar's first insurance-powered digital ecosystem, QIC was also honored as "Insurer of the Year" in Qatar at the MENA II Awards for the fourth consecutive year.

The QIC App also continued to receive high accolades. QIC was awarded the "Customer Experience Initiative of the Year in Qatar" title at the Insurance Asia Awards 2025 for the app's success in delivering a seamless, innovative customer journey. QIC App was named "Most Innovative Mobile App in Qatar" at the Middle East Technology Excellence Awards 2025, and was acknowledged as a top financial innovation in the Middle East at Global Finance's Innovators Awards 2025.

QIC was recognized at the Google Cloud Summit Doha 2025 for driving innovation in the financial industry - a recognition that highlighted QIC's bold adoption of cloud-native technologies and AI-driven solutions, and its role as an industry thought leader.

The Company also ranked among Qatar's "10 Most Valuable Brands" and "10 Strongest Brands" in 2025 by Brand Finance, reflecting QIC's strong reputation, financial performance and strategic vision.

QIC Asset Management was recognised for the eighth consecutive year as one of the "Top Investment Houses (Asset Managers Category) in Asian G3 bonds from the Middle East & North Africa" by The Asset Magazine. In addition, two team members ranked in first and second place for "Most Astute Investors".

Underscoring QIC's commitment to Qatar's broader development and to preserving Qatar's cultural heritage, and guided by Qatar National Vision 2030, QIC continued as the official insurance partner of the 9th edition of the Katara International Hunting and Falcons Exhibition, S'hail 2025, as an official sponsor at the 5th edition of the Katara International Arabian Horse Festival, and as official sponsor of the 2025 Commercial Bank Qatar Masters. The Company was also proud to sponsor the Build Your House Exhibition 2025, reaffirming its commitment to resilient housing in Qatar.

Introduction

In March 2025, S&P Global affirmed its "A-" long-term issuer credit and financial strength ratings on Qatar Insurance Company. It also affirmed its "A-" financial

Strong outlook Global GDP growth is expected to slow year on year to 2.9% in 2026 as tariffs weigh on investment and trade amid ongoing uncertainty, but then to increase to 3.1% in 2027 as tariff impacts fade, financial conditions improve and lower inflation supports demand (OECD). The MENA region has a strong 2026 outlook of approximately 3.6% (IMF), solidly above the global average and benefitting from Qatar's heightened LNG production. The region's growth outlook is supported by robust public investment, digital and AI transformation, easing inflation and resilient consumer spending. Structural reforms, including economic and trade diversification, are key drivers of regional stability amid ongoing global economic downside risks.

QIC is well positioned to benefit from MENA's positive economic outlook. We anticipate continued top and bottom-line growth. This expectation follows the consolidation of QIC's underwriting portfolio to its core GCC markets, its increased risk diversification, its strong capitalisation, its robust governance, and its dedication to leading MENA's digital transformation and to innovation and customer service excellence. Furthermore, in terms of new markets, QIC presented a comprehensive proposal in 2025 to establish a branch operation in Saudi Arabia: subject to regulatory approval, this branch model will leverage QIC's technical infrastructure and regional expertise, while capitalising on supportive regulatory reforms, mandatory insurance frameworks and momentum from Saudi Vision 2030.

strength ratings on the group's guaranteed subsidiaries. The outlooks on

all ratings were announced as stable. These assessments reflected QIC's improved underwriting results driven by its strategic shift toward more profitable business in the GCC region, its strong capitalization, and its leading position in Qatar and the GCC region by insurance revenue. AM Best similarly affirmed its "A- Excellent" ratings for QIC in January 2026, with stable outlooks, describing QIC's balance sheet strength as "Very strong".

About Qatar

Insurance Group (QIC)

Qatar Insurance Company Q.S.P.C (QIC, QIC Group) is a publicly listed insurer

with a consistent performance history of 60 years and a global underwriting footprint. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader and the first digital insurance company in Qatar and a dominant insurer in the GCC and MENA regions. QIC is one of the largest insurance companies in the MENA region in terms of written premium and total assets, is listed on the Qatar Stock Exchange and has a market capitalization in excess of QAR 6.6 billion.

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Qatar Insurance Company Q.S.P.C.

Report on the Audit of the Consolidated Financial Statements (continued)

• Estimation of the non-financial risk adjustment.

• Susceptibility to management bias and estimation uncertainty when making judgments to determine insurance contract liabilities; and complex disclosure requirements.

• Assessing the completeness and accuracy of data utilized by the internal and external management experts in estimating the LIC and AIC by comparing it to the accounting and other records.

• Assessing the adequacy of the disclosures in the consolidated financial statements relating to this matter against the requirements of the relevant accounting standards.

  Key Audit Matters (continued)

  Financial statements

  Valuation of Insurance Contract Assets and Liabilities, and Reinsurance Contract Assets and Liabilities

  Corporate Governance

  The key audit matter	How the matter was addressed in our audit
  We focused on this area because: LIC and AIC involve:	Our audit procedures in this area included the following, among others:

  • Insurance contract liabilities, net as at 31 December 2025, include liability for incurred claims (LIC) amounting to QR 14,782,134 thousand, which consists of estimates of the present value of future cash flows amounting to QR 14,173,754 thousand and risk adjustment for non-financial risk amounting to QR 608,380 thousand as reported in Note 7(a) in consolidated financial statements.

  • Reinsurance contract assets, net as at 31 December 2025, include assets for incurred claims (AIC) measurement model amounting to QR 4,740,963 thousand, which consists of estimates of the present value of future cash flows amounting to QR 4,671,747 thousand and risk adjustment for non-financial risk amounting to QR 69,216 thousand as reported in Note 7(b) in consolidated financial statements.

  • Complex accounting requirements, including the inputs, assumptions, estimates techniques used for incurred claim assets and liabilities and their measurement components include:

    • The estimate of future cash flows, including assumed payment patterns for LIC or collection patterns for AIC, and discounting applied to the estimates of future cash flows to reflect the time value of money.

  • Obtain an understanding of the actuarial process for calculating reserves.

  • Performed substantive tests, on a sample basis, on the amounts recorded for claims paid and recoveries, including comparing the outstanding claims and recovery amount to appropriate source documentation to evaluate the valuation of claim reserves.

  • Evaluating the competence, capabilities, and objectivity of an external expert used by management.

  • Involving our own specialists:

    • To assist us in evaluating the reasonableness of management's key judgments and estimates made in the measuring components of LIC and AIC under the PAA measurement model, including a selection of methods, models, inputs, assumptions, and estimates, as well as the impact of the economic uncertainties.

    • Evaluate the work of the internal and external management specialist which includes assumptions and estimates used to calculate the LIC and AIC.

    • Perform independent calculations on IBNR included under LIC and AIC.

  See Notes 4 and 7 to the consolidated financial statements.

  Independent auditor's report (continued)

  Qatar Insurance Company Q.S.P.C.

  Report on the Audit of the Consolidated Financial Statements (continued)

  Other Information

  The Board of Directors is responsible for the other information. The other information comprises the information included in the Annual Report, but does not include the consolidated financial statements and our auditor's report thereon. Prior to the date of this auditor's report, we obtained the report of the Board of Directors which forms part of the Annual Report, and the remaining sections of the Annual Report are expected to be made available to us after that date.

  Our opinion on the consolidated financial statements does not cover the other information and we do not and will not express any form of assurance conclusion thereon as part of our engagement to audit the consolidated financial statements. We have performed assurance engagements on the internal controls over financial reporting, the Company's compliance with the provisions of the Qatar Financial Markets Authority's Governance Code for Listed Companies that forms part of the other information and will provide a separate assurance practitioner's conclusion thereon that will be included within the other information.

  In connection with our audit of the consolidated financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

  If, based on the work we have performed on the other information that we have obtained prior to the date of this auditor's report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

  Responsibilities of Board of Directors for the Consolidated Financial Statements

  The Board of Directors is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards, and for such internal control as the Board of Directors determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

  In preparing the consolidated financial statements, the Board of Directors is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

  Introduction

  Strategic Review

  The attached notes are an integral part of these consolidated financial statements

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  Independent auditor's report (continued)

  Qatar Insurance Company Q.S.P.C.

  Report on the Audit of the Consolidated Financial Statements (continued)

  Auditor's Responsibilities for the Audit of the Consolidated Financial Statements

  Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

  As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the Group as a basis for forming an opinion on the group financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion.

We communicate with the Board of Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Qatar Insurance Company Q.S.P.C.

Report on the Audit of the Consolidated Financial Statements (continued)

We also provide the Board of Directors with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.

From the matters communicated with the Board of Directors, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

15 February 2026 Doha

Introduction

State of Qatar

As required by the Qatar Commercial Companies Law No. 11 of 2015, whose certain provisions were subsequently amended by Law No. 8 of 2021 ("amended QCCL") and relevant provisions of the Executive Insurance Instructions issued by the Qatar Central Bank, we also report that:

1. We have obtained all the information and explanations we considered necessary for the purposes of our audit.

2. The Company has maintained proper accounting records and its consolidated financial statements are in agreement therewith.

3. We have read the report of the Board of Directors to be included in the Annual Report, and the financial information contained therein is in agreement with the books and records of the Company.

4. We are not aware of any violations of the applicable provisions of the amended QCCL or the terms of the Company's Articles of Association having occurred during the year which might have had a material effect on the Company's consolidated financial position or performance as at and for the year ended 31 December 2025.

Yacoub Hobeika KPMG

Qatar Auditors' Registry Number 289

Licensed by QFMA: External Auditors' License No. 120153

Strategic Review

Corporate Governance

Financial statements

The attached notes are an integral part of these consolidated financial statements The attached notes are an integral part of these consolidated financial statements

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 December 2025

These consolidated financial statements were approved by the Board of Directors and signed on its behalf by the following signatories on 15th February 2026.

Introduction

Strategic Review

Corporate Governance

Financial statements

The attached notes are an integral part of these consolidated financial statements

ANNUAL REPORT 2025 | QATAR INSURANCE COMPANY Q.S.P.C.

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Corporate Governance

Financial statements

For the year ended 31 December 2025

Strategic Review

The attached notes are an integral part of these consolidated financial statements

For the year ended 31 December 2025

The attached notes are an integral part of these consolidated financial statements

Introduction

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Introduction

Strategic Review

Corporate Governance

Financial statements

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

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As at and for the year ended 31 December 2025

Total

Attributable to shareholders of the Parent

Share capital

Legal reserve

Fairvalue reserve

Other components ofequity

Insurance finance reserve

Retained earnings

Non-controlling interests

Total shareholders' equity

QATAR INSURANCE COMPANY Q.S.P.C.

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ANNUAL REPORT 2025

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QATAR INSURANCE COMPANY Q.S.P.C.

The attached notes are an integral part of these consolidated financial statements

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The attached notes are an integral part of these consolidated financial statements

2025

QR '000

2024

QR '000

For the year ended 31 December 2025

Notes

Profit before tax 924,121 746,417

Depreciation of investment properties 10 27,033 37,731

Impairment of investment properties 10 12,483 8,434

Depreciation of property and equipment 11 20,030 18,969

Amortisation of intangible assets 12 3,017 4,288 Share of profit from investments in associates and joint venture 8 (36,186) (31,397) Interest income 22 (740,387) (771,285)

Dividend income 22 (69,295) (56,445)

Gain on sale of investments 22 (87,790) (151,680)

Unrealised (gain) / loss on investments 22 (39,230) 36,444

Other income 22 (3,028) (2,971)

Finance costs 22 100,808 122,314

Provision for employees' end of service benefits 13.1 4,509 9,747

116,085 (29,434)

Working capital changes:

• Insurance and reinsurance contracts (810,656) (799,081)

• Other receivables 69,107 (132,246)

• Other payables 170,036 (130,388)

Employees' end of service benefits paid 13.1 (1,314) (9,809) Sports and social activities support fund paid (8,808) (13,294) Net cash used in operating activities (469,567) (1,160,098) CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of financial investments (7,036,485) (6,847,822)

Introduction

Sale of financial investments 7,220,070 6,769,816

Interest income received 22 740,387 771,285

Dividend received 22 69,295 56,445

Gain on sale of investments 22 87,790 151,680

Other investment income 22 3,028 2,971

Finance cost paid (100,808) (122,314)

Notes

2024

QR '000

Dividends received from associates and joint venture 8 17,500 19,187 Proceeds from sale of property and equipment 752 -Acquisition of investment properties 10 - (291,265)

Acquisition of property and equipment 11 (24,284) (49,317) Acquisition of stake in associates (5,679) -

Acquisition of intangible assets (15,596) -

Interest and other expenses on subordinated perpetual debt (176,931) (166,544) Dividends paid 15.2 (326,610) (326,610) Issuance of subordinated perpetual debt 1,808,537 -

Redemption of subordinated perpetual debt (1,082,525) -Dividend paid to non-controlling interests (5,081) (6,268)

Net movement of short-term borrowings (1,046,313) 225,699 Issuance of share capital to minorities 5,922 -Repayment of loan - (132,484)

Cash and cash equivalents at 1 January 4,777,860 5,888,333 Effect of foreign currency exchange differences 34,157 (4,834) CASH AND CASH EQUIVALENTS AT 31 DECEMBER 5 4,475,419 4,777,860

Strategic Review

Corporate Governance

Financial statements

The attached notes are an integral part of these consolidated financial statements The attached notes are an integral part of these consolidated financial statements

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1st Floor, AL Nawras Commercial Center Building, Al Khuwair / Bousher / Muscat Governorate,

Sultanate of Oman

Tel: +968 24765213 / 211

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Al Khoud Oasis, Al Shabab St, Building No. 252, Block no. 252

Street No. :220

Al Khoud / Al Seeb / Muscat Governorate of Oman

Tel: +968 24765224 / 229

Fax. No: +968 24765234

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Al-Rabat Street Front of the Air Force's sign,

Dhofar Building, next to KFC, Al Suq Al Markazi / Salalah / Dhofar Governorate, Oman

Tel: +968 23298005

Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

South Al Mabilah / Al Seeb / Muscat Governorate, Sultanate of Oman

Tel: +968 24460 489

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Al Wakeba, Sohar / North Al Batinah Governorate Sultanate of Oman

Tel: +968 92878097

Fax. No: +986 26845807

Email: contact@oqic.com

Sun - Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Route 21 Agency Street,

Near Isuzu Dealer , Farq / Nizwa

/ Al Dakhiliyah Governorate, Sultanate of Oman

Tel: +968 25414102

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat ClosedBarka

Barka / Barka / South Al Batinah Governorate, Sultanate of Oman Tel: +968 26882648

Email: contact@oqic.com

Sun- Wed 8:00 AM - 5:00 PM

Fri- Sat Closed

Building Number: 904, Shop no: 1, Block no: 415

Way No: 1522, Next to Omantel new Branch

Al Hajer Street, Al Amrat / Al Amrat / Muscat Governorate Sultanate of Oman

Tel: +968 24882713 / 24765252

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Route 21, Bahla, Bahla / Al Dakhiliyah

Governorate Sultanate of Oman Tel: +968 25419795

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Shop number 5, Suleiman Al Hashemi Building,

Building no 5, Area no 1707 Ibra Road, Ibra / Ibra / North Al Sharqiya Governorate, Sultanate of Oman

Tel: +968 25509827

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Introduction

Fri - Sat Closed

Ibri / Al Dhahirah Governorate Sultanate of Oman

Tel: +968 25692208

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed Samail

Samail / Al Dakhiliyah Governorate Sultanate of Oman Tel: +968 25352551

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Snisila / Sur / South Al Sharqiya Governorate Sultanate of Oman Tel: +968 25535805

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

Way 2010 Al Suwaiq / North Al Batinah Governorate Sultanate of Oman

Tel: +968 26960033

Email: contact@oqic.com Sun- Thu 8:00 AM - 5:00 PM

Fri - Sat Closed

The Landmark Tower, 13th Floor, 116 Khadim Bin Butti Al Hamed St, Al Hisn - Al Markaziyah West Abu Dhabi

UAE

Strategic Review

Corporate Governance

Financial statements

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QATAR INSURANCE COMPANY Q.S.P.C. | ANNUAL REPORT 2025 ANNUAL REPORT 2025 | QATAR INSURANCE COMPANY Q.S.P.C.

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QIC GROUP'S GLOBAL FOOTPRINT