ARZAN FINANCIAL GROUP FOR FINANCING AND INVESTMENT

Arzan Financial Group for Financing and Investment (KPSC)

ARZANStocksBoursa KuwaitDiversified Financials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	-8.36M	-12.94M	4.60M	2.87M	-3.29M
Free Cash Flow	-8.37M	-19.63M	4.50M	2.80M	-3.77M
Capital Expenditures	-0.01M	-6.69M	-0.11M	-0.07M	-0.48M
Investing & Financing
Investing Cash Flow	-8.51M	-7.09M	6.69M	-8.60M	3.93M
Financing Cash Flow	19.23M	18.33M	-9.57M	3.30M	-0.43M
Dividends Paid	-2.58M	-1.67M	-3.19M	-1.80M	—
Share Repurchase	-0.36M	-1.11M	-0.52M	-1.06M	-0.27M
Operating Activities
Operating Cash Flow	-8.36M	-12.94M	4.60M	2.87M	-3.29M
Net Income	23.24M	14.10M	7.03M	8.15M	7.43M
Change in Accounts Payable	1.43M	-0.66M	4.38M	-1.47M	0.49M
Change in Other Net Operating Assets	-7.16M	-2.53M	0.31M	3.49M	-1.03M
Change in Trading Asset Securities	-2.52M	-19.17M	-0.05M	-4.46M	-5.84M
Change in Working Capital	-8.24M	-22.36M	4.64M	-2.43M	-6.39M
Other Operating Activities	-0.91M	-2.00M	-4.97M	-0.58M	1.30M
Provision for Credit Losses	0.97M	1.38M	0.40M	-0.45M	-2.11M
Depreciation & Amortization	224.82K	218.04K	214.88K	231.71K	249.46K
Other Amortization	—	—	—	9.05K	27.75K
Stock-Based Compensation	91.08K	78.34K	66.58K	46.90K	27.99K
Cash Interest Paid	3.26M	2.00M	1.71M	1.01M	1.03M
Loss (Gain) on Equity Investments	-23.69M	-3.99M	-1.54M	-2.52M	-2.24M
Asset Writedown & Restructuring Costs	8.42K	-31.36K	-182.15K	413.92K	230.52K
Investing Activities
Investing Cash Flow	-8.51M	-7.09M	6.69M	-8.60M	3.93M
Capital Expenditures	-0.01M	-6.69M	-0.11M	-0.07M	-0.48M
Investment in Securities	-18.34M	-7.48M	-3.97M	-12.62M	1.98M
Other Investing Activities	6.96M	6.64M	9.97M	3.71M	3.00M
Sale (Purchase) of Intangibles	—	—	—	—	-710
Sale of Property, Plant & Equipment	3.08M	0.83M	0.03M	0.53M	—
Loss (Gain) on Sale of Investments	—	—	—	—	-0.02M
Financing Activities
Financing Cash Flow	19.23M	18.33M	-9.57M	3.30M	-0.43M
Common Dividends Paid	-2.58M	-1.67M	-3.19M	-1.80M	—
Issuance of Common Stock	0.01M	4.29M	—	—	—
Repurchase of Common Stock	-0.36M	-1.11M	-0.52M	-1.06M	-0.27M
Long-Term Debt Issued	26.68M	29.33M	2.71M	10.05M	18.03M
Total Debt Issued	26.68M	29.33M	2.71M	10.05M	18.03M
Long-Term Debt Repaid	-1.19M	-10.58M	-6.46M	-2.84M	-18.11M
Total Debt Repaid	-1.19M	-10.58M	-6.46M	-2.84M	-18.11M
Net Debt Issued (Repaid)	25.49M	18.75M	-3.75M	7.21M	-0.08M
Other Financing Activities	-3.32M	-1.93M	-2.11M	-1.04M	-0.08M
Free Cash Flow & Returns
Free Cash Flow	-8.37M	-19.63M	4.50M	2.80M	-3.77M
Free Cash Flow Growth	—	—	+60.4%	—	—
Free Cash Flow Margin	-24.1%	-95.7%	+54.4%	+17.0%	-24.7%
Free Cash Flow Per Share	-0.01	-0.02	0.01	0.00	-0.00
Operating Cash Flow Growth	—	—	+60.3%	—	—
Net Cash Flow	2.14M	-2.95M	-2.67M	-2.07M	0.17M
Foreign Exchange Rate Adjustments	-0.22M	-1.25M	-4.40M	0.35M	-0.03M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	-8.36M	-12.94M	4.60M	2.87M	-3.29M
Free Cash Flow	-8.37M	-19.63M	4.50M	2.80M	-3.77M
Capital Expenditures	-0.01M	-6.69M	-0.11M	-0.07M	-0.48M
Investing & Financing
Investing Cash Flow	-8.51M	-7.09M	6.69M	-8.60M	3.93M
Financing Cash Flow	19.23M	18.33M	-9.57M	3.30M	-0.43M
Dividends Paid	-2.58M	-1.67M	-3.19M	-1.80M	—
Share Repurchase	-0.36M	-1.11M	-0.52M	-1.06M	-0.27M
Operating Activities
Operating Cash Flow	-8.36M	-12.94M	4.60M	2.87M	-3.29M
Net Income	23.24M	14.10M	7.03M	8.15M	7.43M
Change in Accounts Payable	1.43M	-0.66M	4.38M	-1.47M	0.49M
Change in Other Net Operating Assets	-7.16M	-2.53M	0.31M	3.49M	-1.03M
Change in Trading Asset Securities	-2.52M	-19.17M	-0.05M	-4.46M	-5.84M
Change in Working Capital	-8.24M	-22.36M	4.64M	-2.43M	-6.39M
Other Operating Activities	-0.91M	-2.00M	-4.97M	-0.58M	1.30M
Provision for Credit Losses	0.97M	1.38M	0.40M	-0.45M	-2.11M
Depreciation & Amortization	224.82K	218.04K	214.88K	231.71K	249.46K
Other Amortization	—	—	—	9.05K	27.75K
Stock-Based Compensation	91.08K	78.34K	66.58K	46.90K	27.99K
Cash Interest Paid	3.26M	2.00M	1.71M	1.01M	1.03M
Loss (Gain) on Equity Investments	-23.69M	-3.99M	-1.54M	-2.52M	-2.24M
Asset Writedown & Restructuring Costs	8.42K	-31.36K	-182.15K	413.92K	230.52K
Investing Activities
Investing Cash Flow	-8.51M	-7.09M	6.69M	-8.60M	3.93M
Capital Expenditures	-0.01M	-6.69M	-0.11M	-0.07M	-0.48M
Investment in Securities	-18.34M	-7.48M	-3.97M	-12.62M	1.98M
Other Investing Activities	6.96M	6.64M	9.97M	3.71M	3.00M
Sale (Purchase) of Intangibles	—	—	—	—	-710
Sale of Property, Plant & Equipment	3.08M	0.83M	0.03M	0.53M	—
Loss (Gain) on Sale of Investments	—	—	—	—	-0.02M
Financing Activities
Financing Cash Flow	19.23M	18.33M	-9.57M	3.30M	-0.43M
Common Dividends Paid	-2.58M	-1.67M	-3.19M	-1.80M	—
Issuance of Common Stock	0.01M	4.29M	—	—	—
Repurchase of Common Stock	-0.36M	-1.11M	-0.52M	-1.06M	-0.27M
Long-Term Debt Issued	26.68M	29.33M	2.71M	10.05M	18.03M
Total Debt Issued	26.68M	29.33M	2.71M	10.05M	18.03M
Long-Term Debt Repaid	-1.19M	-10.58M	-6.46M	-2.84M	-18.11M
Total Debt Repaid	-1.19M	-10.58M	-6.46M	-2.84M	-18.11M
Net Debt Issued (Repaid)	25.49M	18.75M	-3.75M	7.21M	-0.08M
Other Financing Activities	-3.32M	-1.93M	-2.11M	-1.04M	-0.08M
Free Cash Flow & Returns
Free Cash Flow	-8.37M	-19.63M	4.50M	2.80M	-3.77M
Free Cash Flow Growth	—	—	+60.4%	—	—
Free Cash Flow Margin	-24.1%	-95.7%	+54.4%	+17.0%	-24.7%
Free Cash Flow Per Share	-0.01	-0.02	0.01	0.00	-0.00
Operating Cash Flow Growth	—	—	+60.3%	—	—
Net Cash Flow	2.14M	-2.95M	-2.67M	-2.07M	0.17M
Foreign Exchange Rate Adjustments	-0.22M	-1.25M	-4.40M	0.35M	-0.03M