TECOM GROUP P.J.S.C.

TECOM Group has announced a AED 1.6 billion investment to expand its portfolio in Dubai Industrial City by acquiring 138 land plots covering 33 million square feet. This acquisition increases TECOM Group's total investments to AED 4.3 billion since last year and expands its land portfolio to over 209 million square feet. The move aims to meet the strong demand for commercial and industrial assets and aligns with long-term initiatives such as Operation 300bn, Make it in the Emirates, and the Dubai Economic Agenda 'D33'. Dubai Industrial City, a key manufacturing and logistics hub, is currently operating at a 99% occupancy rate. The acquisition, approved by TECOM Group's Board of Directors, is expected to enhance the appeal of Dubai Industrial City to manufacturing and logistics companies, supporting both existing and new customer needs. Abdulla Belhoul, CEO of TECOM Group, highlighted the strategic importance of this acquisition in reinforcing the UAE and Dubai's role as a global hub for foreign direct investment and advancing the country's manufacturing sector.

TECOM Group reported a 22% increase in net profit for the first half of 2025, reaching AED 737 million, driven by strategic expansion and strong performance across its business segments. Revenue grew by 21% to AED 1.4 billion, supported by rising rental rates, high occupancy rates, and income from strategic assets acquired the previous year. EBITDA rose 24% year-on-year to AED 1.1 billion, with the EBITDA margin increasing to 80%, indicating operational optimization and sustainable growth. Funds from operations increased 17% to AED 984 million, due to improved revenue quality and effective portfolio management. The Board of Directors approved an interim cash dividend of AED 400 million for the first half of 2025, in line with the company's dividend policy. The results highlight TECOM Group's strong performance and its role as a key partner for international and regional companies, reinforcing Dubai's position as a leading hub for foreign direct investment.

The document is the condensed interim consolidated financial statements of TECOM Group PJSC and its subsidiaries for the six-month period ending June 30, 2025.

The Board of Directors of TECOM Group PJSC will meet on Thursday, 31 July 2025, at 3:00 PM to discuss and approve several matters. These include reviewing the condensed consolidated interim financial statements for the first half of the financial year ending 30 June 2025, considering the distribution of an interim cash dividend for the same period, and addressing regular matters and any other business. A copy of this disclosure is also being sent to the Securities and Commodities Authority.