#1Estithmar Holding Q.P.S.C. HOLDING THE FUTURE Investor Call Presentation – Q2 FY 2022 Financial Results - 16 August 2022 1#2Important information and disclaimer For the purposes of this disclaimer, Estithmar refers to Estithmar Holding Q.P.S.C., its subsidiaries and associated companies, together with their respective directors, officers, employees and agents, both collectively and individually. This document (Presentation) has been prepared by Estithmar Holding Q.P.S.C. (Estithmar) solely on the basis that you (Recipient) acknowledge that Estithmar accepts no liability, express or implied, to any other parties or recipients. The reliance which can be placed upon this document is a matter of commercial judgment and each recipient must make, and will be deemed to have made, such investigations as it considers necessary to form its own opinions on the subject of this document. This Presentation has been prepared as at 16 August 2022 and has been based upon information which, at the time of preparation, is believed to be reliable but has not been independently verified by Estithmar. As such, Estithmar accepts no liability or responsibility for the adequacy, accuracy, completeness or currency of, nor makes any representation or warranty, express or implied, with respect to the information contained in this document or on which this document is based or as to the reasonableness of any projections which this document contains. This Presentation contains summary information about Estithmar and the industries and markets that it operates in. The information in the Presentation does not purport to be complete and is subject to change without notice. The views that are expressed in this Presentation contains information that has been derived from publicly available sources that have not been independently verified. Estithmar also accepts no responsibility or liability for advising any recipient of any changes or additions to the information contained in this Presentation. Past performance is not necessarily a guide to future performance. You are cautioned not to place undue reliance on any forward-looking statements which reflect our opinions and current judgments as at the date of this Presentation. Throughout the Presentation, we will attempt to present some important factors relating to our business that may affect these opinions and judgments. The law in certain jurisdictions may restrict the distribution of this document and recipients warrant that they are required to inform themselves about, and to observe, any such restrictions, and Estithmar accepts no liability to any person in relation to the distribution of this document in any jurisdiction; and this document does not constitute, and may not be used in connection with an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. All currency values are in Qatar Riyals (QAR) millions unless stated otherwise. All numbers of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from figures set out in this Presentation. Recipients of this Presentation should be aware that this Presentation contains references to the FY2019, FY2020, and FY2021 financial results for Estithmar. These results are presented on a pro forma basis and comprise the aggregation of the historical financial information for Estithmar (before the IHG acquisition of Elegancia Group) as if they were one entity for these periods. The pro forma results for Estithmar included in this Presentation have been derived from the audited accounts of IHG and Elegancia Group, adjusted for the effects of certain pro forma adjustments. Recipients are cautioned that the historical pro forma accounts have not been audited or reviewed and, accordingly, Recipients should not place undue reliance on this information. A copy of Estithmar's press release, financials and presentations can be viewed and downloaded from the Investor Relations section of Estithmar's website at www.estithmarholding.com. Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#3Agenda INVESTOR CALL PRESENTATION AGENDA 1. Company overview Board of Directors Diverse leadership team Operating structure / Portfolio of 5 Clusters Capability overview 2. Operating performance Contracting Industries Services Healthcare Ventures Summary by Cluster 3. Financial statements Profit & loss Balance sheet Cash flow 4. Executive summary Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C 3#401 COMPANY OVERVIEW 4#5Company Overview Experienced Board of Directors Mr. Moutaz Al-Khayyat Chairman Mr. Ramez Al-Khayyat Vice Chairman Chair, Executive Committee Mr. Eyad Abdulrahim Board Member / Managing Director Member, Nomination & Remuneration Committee Member, Audit & Risk Management Committee Member, Executive Committee Mr. Mohamad Mohamad Sadiq Al-Dawamaneh Board Member Member, Nomination & Remuneration Committee Member, Executive Committee Mr. Khalid Ghanim S Al-Hodifi Al-Kuwari Board Member Mr. Hamad Ghanim S Al-Hodifi Al-Kuwari Board Member Mr. Mohammed Ghanim S Al Hodifi Al-Kuwari Board Member Sheikh Suhaim Bin Abdul Aziz Al Thani Independent Board Member Estithmar Mr. Abdulla Darwish Al Darwish Independent Board Member Chair, Audit & Risk Management Committee Dr. Bothaina Al Ansari Independent Board Member Chair, Nomination & Remuneration Committee Full bios of the Board Members are provided in the Investor Relations section of Estithmar's website at www.estithmarholding.com. ESTITHMAR HOLDING Q.P.S.C Mr. Ibrahim Abdulla Al Abdulla Independent Board Member Member, Nomination & Remuneration Committee Member, Audit & Risk Management Committee Note: Mr. Murad Sahawneh is an invited Member, Nomination & Remuneration although not a Board Member Holding Q.P.S.C.#6Company Overview Experienced and diversified leadership team Estithmar Holding Q.P.S.C. A multigenerational and diversified workforce 87 different nationalities and backgrounds. Eyad Abdul Rahim BOD & Managing Director Estithmar Holding Henrik Christiansen Group Chief Executive Officer Estithmar Holding Moutaz Al-Khayyat Group Chairman Gerard Hutchinson Chief Financial Officer Estithmar Holding Ramez Al-Khayyat Vice Chairman & Group CEO Abd Almunem Al-Sakka Chief Executive Officer Elegancia Services Bassam Sayad Chief Executive Officer Elegancia Healthcare Richard Chammas Chief Executive Officer Elegancia Industries & Contracting Amer Mahasen Chief Executive Officer Estithmar Ventures Riyad Sowaity Group HR Director Veronica Kavanagh Chief Delivery officer Elegancia Healthcare Sheri Kay Watkins Director of Nursing The View Hospital ESTITHMAR HOLDING Q.P.S.C Sanaa Daakour Group Legal Affairs Director H#7Operating structure Estithmar 5 Healthcare Holding Q.P.S.C. Clusters Services ganci cateri Estithmar Holding is a dynamic group of companies offering reliable, sustainable and quality services to companies across a diverse range of sectors; from healthcare to services, ventures, contracting and industries. We relentlessly pursue excellence and innovation, increasing value to businesses who can advance that value to their end-users as our experts understand our clients' businesses. Estithmar Holding track record of success and past results assure our clients that they are in Holding The Future hands. Estithmar Holding actively promotes the sustainable development of communities through its adherence to environmental, social and corporate governance. Among all stakeholders, from shareholders to employees, and suppliers to the general public, we maintain a reputation of excellence. Together with its 30,000 staff, Estithmar Holding is dedicated to providing comprehensive services, including project management, turn-key solutions, marine works, healthcare, and a wide range of industries. Ventures Contracting Services Industries sancia 18 7#8Capability overview Diverse portfolio of operations across 5 "Clusters" in Qatar Estithmar provides a broad range of services, spanning the full asset lifecycle including: asset development and ownership, construction and engineering, and operations and maintenance. Contracting Cluster Business Units MEP Landscape ■Marine Industries Fabrication Galvanisation Manufacturing Joinery Fit-out - Kitchen ■ Stone CESCO/WMQ Services Manpower Resources Facility Management Events & Catering Trading Healthcare The View Hospital Korean Medical Center Management & Consultancy Ventures Al Maha Island The Palace Hotel Tilal Hotel Saddle House Q2 FY2022 Revenue (QAR millions) 885.05 42% 228 11% 960.9 46% 17.8 1% 0.0 0% 90 Markets / Sectors Key Capabilities Estithmar Holding Q.P.S.C. Government agencies Private asset owners Healthcare and education providers Telecommunication carriers Utility network owners Grade A Contractor +9000 manpower +30 Marine vessels Government agencies Defence agencies Private asset owners Healthcare and education providers Utility network owners +80,00 sqm Factories +2700 Manpower Government agencies Defence agencies Private asset owners Healthcare and education providers +200 Clients +16,000 Manpower 87% Retention rate ESTITHMAR HOLDING Q.P.S.C Government agencies Defence agencies Private asset owners Healthcare and education providers 3 Medical Facilities with international affiliations Government agencies Private asset owners Tourism Sector Education Sector Investments Concessions 8#9Historical performance / markets Combined Revenue v Qatar GDP (2019-2025) Revenue (QAR millions) 4000 3500 3000 2500 2000 1500 1,645.80 1000 500 0 FY2019A Source: Historical and Forecast GDP from IMF Staff Report (May 2022) 2,345.70 1.520.10 3,202.30 1.853.00 FY2020A HY2021A FY2021A Combined Revenue (LHS) HY2022R GDP (RHS) Work in hand as at 30 June 2022 (pro forma, QAR millions) Estithmar Holding Q.P.S.C. FY2022F 1000 900 800 700 600 500 400 300 200 100 0 FY2023 FY2024 Linear (GDP (RHS)) FY2025 Annualisation of HY2022 Revenue levels - indicative only 88.2 4% ■Contracting ■Industries 868.9 40% Total ■Services 2,107.1 1019.6 46% ■ Healthcare Ventures 218.5 10% ESTITHMAR HOLDING Q.P.S.C 1. Work-in-hand comprises the total contractually agreed future revenue for projects with agreed scope and volume, excluding value on multi-year contracts expected beyond 12 months.. 2. Work-in-hand provides a high degree of forward revenue visibility from the work-in-hand profile. Qatar GDP (QAR billions)#10Historical performance / markets Market Drivers IMF expect near-term growth to accelerate in the run up to the 2022 FIFA World Cup, supported by the revival in domestic demand and high hydrocarbon prices. (IMF Staff Report, May 2022) Construction and Services having positive growth in relation to GDP. Manufacturing has declined slightly as it awaits next wave of investments post-World Cup. (IMF Staff Report, May 2022) Contributions to Real GDP Growth (In percent) 6 Agriculture and Mining Estithmar Holding Q.P.S.C. Manufacturing 4 Construction Services 2 GDP 0 -2 -4 -6 -8 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 Sources: Authorities data; and IMF staff calculations. Activity expected to stabilize into 2023 and return to the more historical level of growth in line with the general construction output. According to the Qatar Planning and Statistics Authority (PSA), "[C]onstruction output growth is expected to up to annual growth of 4.1% between and 2025, supported by investments under the Qatar National Vision 2030" (Qatar Construction Industry Report 2022: Growth Set to be Assisted by Government Capital Expenditure Under the 2022 Budget - ResearchAndMarkets.com | Business Wire) Market Risks Major downsides risks relate to protracted pandemic, oil market volatility, tighter global financial conditions, and worsening geopolitical tensions are main downside risks. (IMF Staff Report, May 2022) ESTITHMAR HOLDING Q.P.S.C#1102 OPERATING PERFORMANCE 11#12Contracting Financial performance Contracting Cluster consists of a recognized Grade A MEP and landscape contractor, offshore marine, and logistics services. The businesses in this division have been in operation between 6 and 9 years. Since the Acquisition in April 2022, the legacy businesses of Debbas, WaterMaster, CESCO, CDCT, and EMEC have been included to achieve operational and cost synergies where available. Historical financial performance (pro forma, QAR millions) 2000 1800 1600 1400 1200 1000 800 885.1 600 626.1 400 580.8 200 0 FY2019A FY2020A HY2021A 1,178.6 885.5 FY2021A HY2022R FY2022F FY2022F represents annualisation of HY2022 Revenue levels and are indicative only Work in hand as at 30 June 2022 Contracting QAR 1019.6 m 46% Major Current Projects Al Bussair Camp Al Waab City Project Commercial Boulevard in Lusail BP-18 Tamim Air Base Doha Marriott Gulf Hotel Major Opportunities Korean Medical Centre Al Wakra STP Historical performance / drivers The HY 2022 Revenue of QAR 885.5 million significantly exceeded HY 2021 of QAR 580.8 million (up by 52.5%). This activity is driven by a solid order book of major projects in both the MEP and landscape businesses as Qatar readies itself for the FIFA World Cup 2022. Net Profit Contribution of QAR 39.9 million or 4.5% is slightly below Target range of 5-10% due to cost-to-complete increases in Landscape, EMEC and Debbas as well as low utilization of Marine fleet.. Cost synergies and improved project delivery initiatives have been planned and being implemented in Q3 FY2022 which are aimed at improving Contribution Margins for the remainder of the year. Estithmar Holding Q.P.S.C. Forecast performance / drivers Cluster will continue to benefit from completion of infrastructure and building contracts ahead of FIFA World Cup in Q3 2022. A shift is then expected to general landscaping maintenance and beautification projects up to and through the tournament. Beyond that, “[w]hile certain segments of the [construction] sector will see less activity following the World Cup, building will continue in projects that support Qatar National Vision 2030", The Report: Qatar 2022 || Oxford Business Group. Activity expected to stabilize into 2023 and return to the more historical level of growth in line with the general construction output. "[C]onstruction output growth is expected to up to annual growth of 4.1% between and 2025, supported by investments under the Qatar National Vision 2030" (Qatar Construction Industry Report 2022: Growth Set to be Assisted by Government Capital Expenditure Under the 2022 Budget - ResearchAndMarkets.com | Business Wire) Value of secured contracts at 30 June 2022 was QAR 1019.6 million (HY 2021: QAR 1,392.9 million), or approx 7 months of revenue based one H1 revenue run rate. [Note: that revenue burn rate expected to decrease after Q3 2022 due to completion of FIFA 2022 projects]. ESTITHMAR HOLDING Q.P.S.C ‣ elegancia MEP ▸ landscape ▶ marine ▶ fit-out ‣ kitchens contracting ▶ fire fighting ‣ watermaster#13Industries Financial performance Industries Cluster is comprised of businesses that provide a comprehensive range of best-in-class steel, joinery and stone works. All steel businesses have been in operation now for over 6 years, while the joinery and stone business for 9 years. No change in BU composition has resulted since the Acquisition in April 2022. Historical financial performance (pro forma, QAR millions) 500 450 400 350 349.5 300 318.9 250 277.7 200 150 100 133.8 50 0 FY2019A FY2020A HY2021A FY2021A 228.0 HY2022R FY2022F FY2022F represents annualisation of HY2022 Revenue levels and are indicative only Work in hand as at 30 June 2022 - Industries QAR 218.5 m 10% Major Current Projects Dukhan Bank Headquarters Integrated Family Housing at Al Wakra Design & Build Lusail Palace The View Hospital New US Embassy in Doha Major Opportunities Long term, rehabilitation and home-care services Historical performance / drivers The HY 2022 Revenue of QAR 205.1 million significantly exceeded HY 2021 of QAR 133.8 million (up by 53.3%). This activity is driven by a solid order book of major projects in the stone, joinery and steel businesses. Net Profit for HY2022 was QAR 14.6 million or 6.4% which is within the target band of 5- 10%. Restructuring underway that will lead to cost synergies and efficiencies from delayering support functions. Forecast performance / drivers Cluster will continue to benefit from completion of infrastructure and building contracts ahead of FIFA World Cup as these are completed in Q3 2022. Activity expected to stabilize into 2023 and return to the more historical level of growth in line with the general construction output. According to the Qatar Planning and Statistics Authority (PSA), "[C]onstruction output growth is expected to up to annual growth of 4.1% between and 2025, supported by investments under the Qatar National Vision 2030" (Qatar Construction Industry Report 2022: Growth Set to be Assisted by Government Capital Expenditure Under the 2022 Budget ResearchAndMarkets.com | Business Wire) Value of secured contracts at 30 June 2022 was QAR 218.5 million (HY 2021: QAR 267.3 million), or approx 7 months of revenue based one H1 revenue run rate. ‣ elegancia steel joinery stones industries Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#14Services Financial performance Services are leading providers of facilities management, catering, resources and material supply. The businesses in this division are mature and have been in existence on average for 7 years, experiencing significant growth over that time. Since the Acquisition in April 2022, the legacy businesses of Trelco Building Materials and CSC been included to achieve ost synergies where available. 2500 2000 1500 Historical financial performance (pro forma, QAR millions) 1,674.2 Work in hand as at 30 June 2022 Services QAR 868.9 m 40% Major Current Projects Msherib Properties (FM) Government Catering Hospitality catering Government properties (FM) Major Current Projects World Cup catering 1000 1,251.8 775.5 805.5 500 0 FY2019A FY2020A HY2021A FY2021A 960-9 HY2022R FY2022F FY2022F represents annualisation of HY2022 Revenue levels and are indicative only World Cup Security Pantry & Hospitality ABH District Event management Historical performance / drivers The HY 2022 revenue of QAR 960.3 million exceeded HY2021 of QAR 805.5 million (up by 16.8%), driven by the services and trade sector within the Elegancia Group. This activity is driven from COVID-19 movement restrictions and an increasing trend within the Qatari market for outsourcing facilities management and catering services. HY 2022 Net Profit of QAR 114.0 million or 11.9% is within target band of 10-15%. Cost synergies and contracted work during the World Cup and beyond Q3 FY2022 will continue to improve Contribution Margins for the remainder of the year. Major clients are Qatar Armed Forces, Msheireb Properties, Ministry of Education and Higher Education, Ministry of Interior, Ministry of Culture and Sport and UCC. Estithmar Holding Q.P.S.C. Forecast performance / drivers Qatar's Planning and Statistics Authority forecast Nominal GDP to grow by 9.0% in 2022. The Services BUS will continue to benefit from this through its temporary manpower solutions across a number of industries, including construction, event management, facility management, and landscaping to name a few, as well as grow in the facilities management and catering sectors. Activity is expected to peak during the second half of 2022 as FIFA World Cup infrastructure is completed and then will be supplemented by event management for FIFA-related activities. Following the FIFA World Cup 2022 at the end of the year, economic growth is expected to return to the longer-term average. As at 30 June 2022, Services has orders booked for the remainder of the FY2022 of QAR 868.9 million. [Note: Facility management and catering business enter into longer-term contracts with their clients, such as a catering contract for Qatar Armed Forces that has a further 11.5 years to run under its design, build, operate and transfer contract. However, the booked value is recognized on an annual basis]. ESTITHMAR HOLDING Q.P.S.C ‣ elegancia services events & catering facilities management resources gabro supply & trading#15Healthcare Financial performance Elegancia Healthcare has three (3) medical facilities with international affiliations that is in its establishment phase with the construction and fit-out of two (2) medical facilities and hence does not have any financials to report at this time. Both facilities are expected to be opened in Q4 2022, based on current programmes and begin providing acute care hospital at The View Hospital and ambulatory day services at The Korean Medical Center. In addition, start-up for a public private partnership has commenced in early 2022. 40 35 30 112505 Historical financial performance 0 FY2019A FY2020A (pro forma, QAR millions) HY2021A FY2021A 841 HY2022R FY2022F FY2022F represents annualisation of HY2022 Revenue levels and are indicative only Work in hand as at 30 June 2022 Major Current Projects The View Hospital Healthcare, QAR 88.2 m 4% Korean Medical Center Military Medical City Major Opportunities Long term, rehabilitation and home-care services Historical performance / drivers The HY 2022 Revenue of QAR 17.8 million represents the commencement of the PPP. The Net Profit for the initial six months is QAR 1.6 million or 9.3%. This margin is below our portfolio target of 15-25% given that this consists of the managed services contract only as the others are in pre-operating phase. As The View Hospital and Korean Medical Center are in construction phase, all pre- operating costs are capitalized as we look to commence these activiations in Q4 2022 and Q1 2023 respectively. Estithmar Holding Q.P.S.C. Forecast performance / drivers Qatar's total healthcare expenditure of ~QAR 20 billion is expected to grow at a ~7% CAGR over the next 5 years; this outpaces GCC growth at 5.4% CAGR The health insurance sector is expected to see a strong boost driven by plans of compulsory health insurance which will increase utilization rates. Specialties with highest health insurance claims are OB-GYN, paediatrics, and orthopaedics etc. Given the OECD average of 4.8 hospital beds per 1000 people in 2019 compared to 2.3 for Qatar, there is rapid need for increased investment in hospitals and day care surgery centers Growing rates of chronic conditions (69% NCD's) and communicable diseases will increase demand for all types of advanced and specialized patient care in Qatar The number of elderly residents is expected to increase to 14% by 2050 which provides an ideal opportunity for specialist providers to cover services not fully supplied by the public sector. ESTITHMAR HOLDING Q.P.S.C Source: Fitch Solutions, IHME, World Bank, the Lancet ‣ elegancia healthcare THE VIEW HOSPITAL In Affiliation With Cedars Sinoi KMC Korean Medical Center ews#16Ventures Financial performance Estithmar Holdings has established a subsidiary solely for local investment into targeted projects to address Qatar's Vision 2030, namely Estithmar Ventures. Estithmar Ventures has been established to be an equity sponsor in special purpose companies and is currently implementing four (4) projects: Al Maha Island, Tilal Hotel, The Palace Hotel, and Saddle House. Historical financial performance (pro forma, QAR millions) 1 0.9 0.8 0.7 0.6 0.5 0.4 0.3 Not applicable Opening soon! Activations commence in Q4 2022 0.2 0.1 0 FY2019A FY2020A HY2021A FY2021A HY2022R FY2022F Work in hand as at 30 June 2022 Al Maha Island Ventures, QAR 0.0 m 0% Saddle House Tilal Hotel The Palace Hotel Under Development Touristic destinations Hotels and resorts Hospitality & entertainment Opportunities Education Touristic developments Infrastructure concessions Maldives Resort Forecast performance / drivers The Qatar National Tourism Sector Strategy 2030 was developed to provide an integrated effort to advance Qatar's tourism sector in line with the objectives of the Qatar National Vision 2030. It is intended for Qatar to become leading tourism destination globally. Government is focused on "a complete and national strategy for the development of the tourism sector". https://www.thepeninsulaqatar.com/article/21/06/2021/Qatar-to-become-leading-tourism-destination-globally Qatar has a solid line-up of infrastructure and hospitality projects to prepare itself to meet its Vision 2020 objectives. ‣ Estithmar ventures Al Maha Island Tilal Hotel The Palace Hotel Saddle House Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#17Consolidated Income Statement by Cluster Consolidated Income Statement Estithmar Holding QAR Millions Cluster Contracting Cluster Industries Cluster Services Cluster Healthcare Cluster Elegancia Ventures Corporate and Eliminations Consolidated YTD by Cluster H1 2022 H1 2021 H1 2022 Net Revenue 885.5 593.1 228.0 H1 2021 161.3 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 960.9 850.5 17.8 0.0 0.0 0.0 (239.3) (84.8) 1,853.0 Cost of Revenue (798.2) (536.0) (199.5) (130.8) (796.8) (688.5) (13.0) 0.0 0.0 0.0 217.4 84.5 (1,590.0) H1 2021 1,520.1 (1,270.8) Variance Variance % 332.9 (319.2) 21.9% 25.1% Gross Profit 87.3 57.2 28.5 30.6 164.2 162.0 4.9 0.0 0.0 0.0 (21.8) (0.4) 263.0 249.3 13.6 5.5% Gross Profit Margin 9.9% 9.6% 12.5% 18.9% 17.1% 19.0% 27.2% 0.0% 0.0% 0.0% 9.1% 0.5% 14.2% 16.4% -2.2% G&A Expenses (45.8) (17.5) (11.1) (20.1) (35.7) (21.1) (3.2) (0.6) (0.3) 0.0 5.9 (2.4) (90.3) (61.7) (28.6) 46.3% G&A Expenses Margin -5.2% -3.0% -4.9% -12.5% -3.7% -2.5% -18.0% 0.0% 0.0% 0.0% -2.5% 2.8% -4.9% -4.1% -0.8% Operational EBITDA 55.3 49.1 25.7 21.1 159.5 177.5 1.6 (0.6) 39.7 0.0 (21.2) (2.7) 260.7 244.4 16.2 6.6% Operational EBITDA Margin 6.2% 8.3% 11.3% 13.1% 16.6% 20.9% 9.3% 0.0% 0.0% 0.0% 8.9% 3.1% 14.1% 16.1% -2.0% Depreciation (11.7) (7.4) (7.7) (8.9) (28.4) (28.9) 0.0 0.0 0.0 0.0 2.3 (0.1) (45.6) (45.4) (0.2) 0.5% EBIT 43.6 41.6 18.1 12.2 131.1 148.6 1.6 (0.6) 39.7 0.0 (18.9) (2.8) 215.1 199.1 16.0 8.0% EBIT Margin 4.9% 7.0% 7.9% 7.6% 13.6% 17.5% 9.3% 0.0% 0.0% 0.0% 7.9% 3.3% 11.6% 13.1% -1.5% Interest Cost (3.7) (1.9) (3.5) (3.1) (17.1) (10.3) 0.0 0.0 0.0 0.0 (0.2) 0.1 (24.5) (15.2) (9.2) 60.7% Other Income/Expenses 2.1 2.0 0.6 1.8 2.8 5.5 0.0 0.0 40.0 0.0 (3.0) 0.0 42.6 9.3 33.3 359.5% Net Profit 39.9 39.7 14.6 9.1 114.0 138.3 1.6 (0.6) 39.7 0.0 (19.2) (2.7) 190.6 Net Profit Margin 4.5% 6.7% 6.4% 5.6% 11.9% 16.3% 9.3% 0.0% 0.0% 0.0% 8.0% 3.2% 10.3% 183.9 12.1% 6.8 -1.8% 3.7% Total Revenue up 21.9% to QAR 1,853 million ... Revenue Bridge-HY 2022 v HY 2021 by Cluster (QAR millions) produced EBITDA of QAR 260.7 million (14.1%) ... EBITDA Bridge-HY 2022 v HY 2021 by Cluster (QAR millions) and HY Net Profit of QAR 190.6 million (10.3%) up 3.7% y-o-y. Net Profit Bridge-HY 2022 v HY 2021 by Cluster (QAR millions) 110.4 17.8 0.0 292.4 66.7 1,853.0 244.4 6.3 1,520.1 (154.4) 4.6 (18.0) 2.2 39.7 260.7 183.9 0.2 5.5 (18.6) (24.3) 2.2 39.7 190.6 (16.5) INN H1 2021 Contracting Industries Services Healthcare Ventures Corporate H1 2022 H1 2021 Contracting Industries Services Healthcare Ventures Corporate H1 2022 H1 2021 Contracting Industries Services Healthcare Ventures Corporate H1 2022 Estithmar ESTITHMAR HOLDING Q.P.S.C Holding Q.P.S.C.#1803 FINANCIALS 18#19Consolidated Income Statement Estithmar's P&L reflects growth in EBITDA and Net Profit Consolidated Income Statement Estithmar Holding Commentary 1. Net Revenue for the six months to June 2022 (HY22) increased 21.9% compared to the previous comparative period (pcp or HY21), with growth in all segments or Clusters. Contracting grew by 52%, Industries by 72%, Services by 19%, and Healthcare commencing operations. Gross Profit of QAR 263.0 million at 14.2% was higher in value from pcp but lower in GM% due to rising input costs experienced, i.e. shipping, unit rate of resources and materials. G&A Expenses has increased by QAR28.6 million, which includes QAR 34.4 from IHG companies (including QAR 20.8 million in Transaction Costs) and QAR 7.1 million from new BUS. This has lead to an increase G&A % from 4.1% to 4.9%. Operational EBITDA of QAR 260.7 million is higher than pcp however achieved at 14.1% which is below 16.1% in prior year largely due to increases in cost to complete projects for Landscape, Debbas, CDCT and EMEC. Amount in '000s Note For the Period ending June 2022 For the Period ending June 2021 Variance Variance % Net Revenue Cost of Revenue 1,852,985 (1,590,006) Gross Profit Gross Profit Margin G&A Expenses G&A Expenses Margin Operational EBITDA Operational EBITDA Margin Depreciation EBIT 262,980 1,520,133 (1,270,791) 249,342 332,852 21.9% (319,214) 25.1% 13,638 5.5% 14.2% 16.4% -2.2% 2. (90,312) (61,710) (28,602) 46.3% -4.9% -4.1% -0.8% 260,650 244,439 16,211 6.6% 14.1% 16.1% -2.0% 3. (45,558) 208,687 (45,353) 177,887 (205) 30,800 17.3% 0.5% EBIT Margin 11.3% 11.7% -0.4% Interest Cost 7 Other Income/ Expenses 8 Net Profit 9 (24,479) 42,553 190,613 (15,230) 9,261 183,856 (9,248) 33,291 60.7% 359.5% 4. 6,757 3.7% Net Profit Margin 10.3% 12.1% -1.8% 5. Shareholders of the Company Non-controlling interest Total comprehensive income attributable to: Basic and diluted earnings per share 192,536 182,450 (1,923) 1,406 190,613 183,856 0.065 0.071 Depreciation broadly in line with pcp 6. Current HY EBIT has increased by QAR 30.8 million or 17.3% at and EBIT % of 11.3% 7. Interest expense increased due to increased utilization of facilities and inclusion of IHG companies' debt. Notes/Adjustments [1] Underlying EBITDA of QAR 281.6 million is adjusting above EBITDA of QAR 260.6 million by QAR 20.9 million of non-recurring transaction costs associated with the reverse acquisition. 8. Other Income / Expenses have [2] Underlying Net Profit of QAR 213.4 million is adjusting Net Profit Attributable to Shareholders of the Company of QAR 192.5 million by QAR 20.9 million of transaction costs associated with the reverse acquisition. 9. Net Profit has increased to QAR 190.6 million despite adverse movements mentioned at 10.3%. [3] Underlying EPS is adjusting Net Profit Attributable to Shareholders of QAR 192.5 million by QAR 20.9 million of transaction costs divided by the weighted average number of shares attributable to the Shhareholders of the Company. Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#20Summary financial position Strong balance sheet June 30, 2022 QR.'000 (Reviewed) December 31, 2021 QR. '000 (Audited) June 30, 2022 QR.'000 (Reviewed) December 31, 2021 QR. '000 (Audited) 899,525 90,756 802,754 87,920 4,727 5,573 Right of use assets 63,500 27,952 Retention receivable 44,029 18,061 Goodwill 3,240,035 0 ASSETS Current assets EQUITY AND LIABILITIES Equity Inventories 328,813 383,246 Share capital 3,404,038 10,000 Retention receivables 84,783 39,042 Legal reserve 54,917 54,917 Contract assets 804,903 385,580 Other reserve 3,924 3,924 Trade and other receivables balances 1,203,112 875,491 Retained earnings 866,449 694,793 Due from related parties 484,828 475,810 Equity attributable to shareholders of the parent 4,329,327 763,634 Cash and bank balances 233,794 41,445 Non-controlling interests 2,082 4,005 Total equity 4,331,409 767,638 Total current assets Non-current assets Property, plant and equipment Investment properties Intangible assets 3,140,233 2,200,614 Current liabilities 102,463 93,035 40,373 117,172 541,817 391,772 11,344 2,132 176,502 199,474 1,458,780 1,102,272 2,331,280 1,905,857 Due to related parties Contract liabilities Loans and borrowings Lease liability Bank overdraft Trade and other payable balances Total current liabilities Financial assets at fair value through profit or loss 31,000 0 Non-current liabilities Total non-current assets 4,373,573 942,259 Provision for employees' end of service benefits 115,443 86,947 TOTAL ASSETS 7,513,807 3,142,872 Long Term Loans and borrowings 659,864 336,167 Loan from a related party 28,323 27,830 CAPITAL STRUCTURE Long Term Lease liability 46,177 18,434 Interest-bearing Loans & Borrwings 1,406,506 955,242 Retention payable 1,312 0 Cash and cash balances (233,794) (41,445) Total non-current liabilities 851,118 469,377 Net Total Borrowings 1,172,713 913,797 Total liabilities 3,182,398 2,375,234 TOTAL EQUITY AND LIABILITIES 7,513,807 3,142,872 Net total borrowings to annualised HY EBITDA 2.25 1.87 Debt/Equity Ratio 0.73 3.09 Current Ratio 1.35 1.15 Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#21Summary cash flows Operating cash flow conversion remains stable Cash flows from operating activities: Net profit for the period Adjustments for: Depreciation & Amortisation Finance Cost Provision for employees' end of service benefits For the six-months period ended June 30, 2022 (Reviewed) QAR '000s 2021 (Audited) QAR '000s 190,613 184,015 Cash Flow for the Six Months period ending June 2022 (QAR millions) 462.7 55.7 49,368 44,888 26,540 14,968 17,147 16,373 Acquisition through business combination 119,921 Axis Title (159.3) Others 3,822 (4,087) (122.4) Operating income before changes in working capital 407,411 256,157 (125.3) At the beginning of the period Operating activities Investing activities Financing activities At end of the period Changes in working capital: (496,018) Cash (used) in/generated from operating activities (88,608) (24,672) 231,485 Increase Decrease Total Employees' end of service benefits paid (8,888) (3,021) Interest paid (24,927) (14,968) Net cash (used) in/ generated from operating activities (122,422) 213,497 Cash flows from investing activities Acquisition of property, plant and equipment, Investment & Gain/Loss from Dispos (124,979) Net movement in bank balances restricted as collateral (300) Net cash flow on business combination under common control Net consideration received from disposal of a subsidiary Consideration paid for the acquisition of non-controlling interest (79,403) (233) (205,838) 2,471 (188) Operating Cashflow was negative QAR 122.4 million for the six months to June 2022 (HY22) due to increase in Working Capital requirements of QAR 467.2 million. Investing Cashflow saw QAR 125.0 million invested into long term assets, including The View Hospital, Korean Medical Center, and Al Maha Island. Financing Cashflows saw an increase in funding levels due to absorption of IHG -legacy loans and borrowings of QAR 283.7 million, with balance necessary to fund Working Capital of QAR 54.0 million and the Investments of QAR 125.0 million. (125,278) (283,191) Net cash used in investing activities Cash flows from financing activities Net Proceeds from Issuance of the share (20,881) 10,000 CashFlow for the Six Months period ending June 2021 (QAR millions) Net movement in interest bearing loans and borrowings 473,743 57,408 213.5 Payment of principle portion of the loan received from related party (1,203) Dividend distribution (4,380) Payment of principal portion of lease liabilities 9,859 (11,048) 0.0 50.8 Net cash generated from financing activities 462,721 50,778 (18.9) (283.2) Net increase/ (decrease) in cash and cash equivalents 215,020 (18,916) At the beginning of the period Operating activities Investing activities Financing activities At end of the period Cash and cash equivalents at the beginning of the period (159,327) Increase Decrease Total Cash and cash equivalents - at end of the period, 55,694 (18,916) Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#2204 EXECUTIVE SUMMARY 22 22#23Estithmar Holding by Numbers Income Statement Revenue Gross Profit EBITDA QAR 1,853.0 m up 21.7% QAR 263.0 m up 5.5% QAR 260.7 m Net Profit QAR 190.6 m up 6.6% up 3.7% Financial Position Total Assets Net Assets QAR 7,513.3 m QAR 3,072 m Working Capital QAR 809 m Current Ratio 1.35 Cashflow Investment metrics Earnings per share QAR 0.065 QAR 0.073 adjusted for non-recurring Work-in-Hand QAR 2,107.1 m Net Borrowings QAR 1,172.7 m Debt/ EBITDA Annualized EBITDA 2.25 times Return on Assets Annualized Net Profit 6.5% Operating Cashflow Investment Cashflow QAR (122.4) m QAR (125.3) m Financing Cashflow QAR 462.7 m Net Cashflow Cash Conversion Interest Cover QAR 215.0 m Negative 44.1% 10.6 times Estithmar Holding Q.P.S.C. ESTITHMAR HOLDING Q.P.S.C#24Thank You 24