Thimar Development Holding Co. announces its Interim Financial results for the Period Ending on 2026-03-31 ( Three Months )

1/ A decrease in general expenses by approximately (1,200,000) one million two hundred thousand Saudi Riyals.

2/ A decrease in the impact of adjusting cash flows for financial liabilities by approximately (100,000) one hundred thousand Saudi Riyals, despite a decrease in other income by approximately (300,000) three hundred thousand Saudi Riyals.

There were no unrealized gains from investments at fair value through profit or loss during the current quarter, while unrealized gains from investments at fair value through profit or loss during the previous quarter amounted to (1,088,000) one million and eighty-eight thousand Saudi Riyals.

1- A decrease in general expenses by approximately SAR 2,900,000 (two million nine hundred thousand Saudi Riyals).

2- A decrease in the reversal of the impairment of property, plant, and equipment by approximately SAR 1,100,000 (one million one hundred thousand Saudi Riyals).

3- A decrease in the cost of revenues by approximately SAR 400,000. ( four hundred thousand Saudi Riyals).

Despite a decrease in net gains from investments at fair value through profit or loss by approximately SAR 1,100,000, (one million one hundred thousand Saudi Riyals).

and a decrease in gains from the sale of property, plant, and equipment by approximately SAR 800,000. (eight hundred thousand Saudi Riyals).

We draw attention to Note (4) accompanying the condensed consolidated financial statements, which indicates that the Group incurred losses amounting to SAR (3,452,607) during the period ended 31 March 2026. In addition, the accumulated losses as of 31 March 2026 amounted to SAR (94,238,604), representing 145% of the share capital. Accordingly, pursuant to Article (132) of the Companies Law, the Extraordinary General Assembly is required to be convened within one hundred and eighty days from the date of becoming aware thereof to consider the continuation of the Group and to take any necessary measures to address such losses or dissolve the Group. However, due to the Group entering into a financial restructuring

MATERIAL UNCERTAINTY RELATED TO GOING CONCERN (CONTINUED)

proposal and procedures as disclosed in Note (1), and pursuant to Article (45) of Chapter Four of the Bankruptcy Law and its Implementing Regulations, the Group is exempt from applying the provisions of the Companies Law relating to losses reaching the statutory threshold. Furthermore, the Group’s ability to continue as a going concern is dependent upon the implementation of the financial restructuring proposal. As stated in Note (4), these events or conditions, together with the other matters set forth in Note (1), indicate the existence of a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion has not been modified in respect of this matter.

EMPHASIS OF MATTER

We draw attention to Note (1) accompanying the condensed consolidated interim financial statements, which indicates that the Company is subject to financial restructuring proceedings pursuant to the judgment issued on 7 April 2021 (corresponding to 25 Shaaban 1442H) in Case No. 1970 for the year 1442H, ordering the commencement of the Company’s financial restructuring procedure and the appointment of Mr. Hany bin Saleh Al-Quiali as the financial restructuring trustee.

This leaves a remaining balance of approximately SAR 26 million, representing approximately 22%.