Al RAJHI REIT

Al Rajhi REIT Fund

4340StocksTadawulReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Semi-annual (SAR)

1-5

	H2 2025Dec 31, 2025	H1 2025Jun 30, 2025	H2 2024Dec 31, 2024	H1 2024Jun 30, 2024	H2 2023Dec 31, 2023
Operating Summary
Revenue	120.07M	117.63M	141.22M	119.03M	116.99M
Interest Income	—	—	—	—	—
Interest Expense	-25.29M	-25.28M	-27.25M	-27.59M	-27.15M
Pretax Income	76.21M	71.18M	115.67M	71.58M	71.54M
Income Tax	—	—	—	—	—
Net Income	76.21M	71.18M	115.67M	71.58M	71.54M
Rental Revenue	116.76M	114.31M	120.86M	116.83M	112.96M
Property Expenses	17.04M	15.38M	15.28M	15.17M	14.79M
Operating Income	87.05M	61.28M	97.20M	79.50M	85.25M
EPS (Basic)	0.28	0.26	0.42	0.26	0.18
EPS (Diluted)	0.28	0.26	0.42	0.26	0.18
Margins & Efficiency
Net Margin %	+63.5%	+60.5%	+81.9%	+60.1%	+61.2%
Revenue & Income
Revenue as Reported	120.07M	117.63M	141.22M	119.03M	116.95M
Revenue Growth (YoY)	-15.0%	-1.2%	+20.7%	+40.2%	+45.9%
Revenue RE	120.07M	117.63M	141.22M	119.03M	116.99M
Rental Revenue	116.76M	114.31M	120.86M	116.83M	112.96M
Other Revenue RE	123.75K	299.35K	560.30K	792.31K	74.57K
Gain Assets Rev Real Estate	—	—	17.66M	—	—
Gain Investments Rev Real Estate	3.18M	3.02M	2.14M	1.41M	1.34M
Expenses & Provisions
Total Operating Expenses RE	33.02M	56.35M	44.02M	39.53M	31.74M
Interest Expense RE	-25.29M	-25.28M	-27.25M	-27.59M	-27.15M
Other Non Oper Exp Suppl RE	—	—	—	—	—
Property Expenses	17.04M	15.38M	15.28M	15.17M	14.79M
Asset Writedown	14.45M	35.18M	45.72M	19.67M	13.44M
D&A For EBITDA	25.50M	24.52M	23.64M	23.90M	22.97M
Dep Amor RE	25.50M	24.52M	24.46M	23.90M	22.97M
Profitability & Returns
EBIT	87.05M	61.28M	97.20M	79.50M	85.25M
EBITDA	112.55M	85.79M	120.84M	103.40M	108.22M
EBT Excl RE	61.76M	36.00M	69.95M	51.91M	58.10M
Pretax Income	76.21M	71.18M	115.67M	71.58M	71.54M
Operating Income RE	87.05M	61.28M	97.20M	79.50M	85.25M
Operating Margin	+72.5%	+52.1%	+68.8%	+66.8%	+72.9%
Profit Margin	+63.5%	+60.5%	+81.9%	+60.1%	+61.2%
Net Income	76.21M	71.18M	115.67M	71.58M	71.54M
Net Income to Common	76.21M	71.18M	115.67M	71.58M	71.54M
Net Income Growth	-34.1%	-0.6%	+61.7%	+1,686.0%	+55.1%
Income Tax Expense	—	—	—	—	—
Net Interest Expense RE	-25.29M	-25.28M	-27.25M	-27.59M	-27.15M
Per Share & Capital
EPS (Basic)	0.28	0.26	0.42	0.26	0.18
EPS (Diluted)	0.28	0.26	0.42	0.26	0.18
EPS Growth	-34.1%	-0.6%	+128.4%	+948.9%	-35.5%
Dividend Per Share	0.27	0.25	0.28	0.27	0.27
Shares Change (YoY)	—	—	-0.29	0.7	1.41
Shares Outstanding (Basic)	275.61M	275.61M	275.61M	275.61M	389.36M
Shares Outstanding (Diluted)	275.61M	275.61M	275.61M	275.61M	389.36M
Dividend Growth	-3.6%	-5.7%	+3.7%	-1.9%	-18.2%
FFO	—	—	—	—	—
Supplemental
Int Inc RE	—	—	—	—	—
Other Operating Expenses RE	2.27M	2.42M	2.29M	2.00M	2.02M

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Semi-annual (SAR)

1-5

	H2 2025Dec 31, 2025	H1 2025Jun 30, 2025	H2 2024Dec 31, 2024	H1 2024Jun 30, 2024	H2 2023Dec 31, 2023
Operating Summary
Revenue	120.07M	117.63M	141.22M	119.03M	116.99M
Interest Income	—	—	—	—	—
Interest Expense	-25.29M	-25.28M	-27.25M	-27.59M	-27.15M
Pretax Income	76.21M	71.18M	115.67M	71.58M	71.54M
Income Tax	—	—	—	—	—
Net Income	76.21M	71.18M	115.67M	71.58M	71.54M
Rental Revenue	116.76M	114.31M	120.86M	116.83M	112.96M
Property Expenses	17.04M	15.38M	15.28M	15.17M	14.79M
Operating Income	87.05M	61.28M	97.20M	79.50M	85.25M
EPS (Basic)	0.28	0.26	0.42	0.26	0.18
EPS (Diluted)	0.28	0.26	0.42	0.26	0.18
Margins & Efficiency
Net Margin %	+63.5%	+60.5%	+81.9%	+60.1%	+61.2%
Revenue & Income
Revenue as Reported	120.07M	117.63M	141.22M	119.03M	116.95M
Revenue Growth (YoY)	-15.0%	-1.2%	+20.7%	+40.2%	+45.9%
Revenue RE	120.07M	117.63M	141.22M	119.03M	116.99M
Rental Revenue	116.76M	114.31M	120.86M	116.83M	112.96M
Other Revenue RE	123.75K	299.35K	560.30K	792.31K	74.57K
Gain Assets Rev Real Estate	—	—	17.66M	—	—
Gain Investments Rev Real Estate	3.18M	3.02M	2.14M	1.41M	1.34M
Expenses & Provisions
Total Operating Expenses RE	33.02M	56.35M	44.02M	39.53M	31.74M
Interest Expense RE	-25.29M	-25.28M	-27.25M	-27.59M	-27.15M
Other Non Oper Exp Suppl RE	—	—	—	—	—
Property Expenses	17.04M	15.38M	15.28M	15.17M	14.79M
Asset Writedown	14.45M	35.18M	45.72M	19.67M	13.44M
D&A For EBITDA	25.50M	24.52M	23.64M	23.90M	22.97M
Dep Amor RE	25.50M	24.52M	24.46M	23.90M	22.97M
Profitability & Returns
EBIT	87.05M	61.28M	97.20M	79.50M	85.25M
EBITDA	112.55M	85.79M	120.84M	103.40M	108.22M
EBT Excl RE	61.76M	36.00M	69.95M	51.91M	58.10M
Pretax Income	76.21M	71.18M	115.67M	71.58M	71.54M
Operating Income RE	87.05M	61.28M	97.20M	79.50M	85.25M
Operating Margin	+72.5%	+52.1%	+68.8%	+66.8%	+72.9%
Profit Margin	+63.5%	+60.5%	+81.9%	+60.1%	+61.2%
Net Income	76.21M	71.18M	115.67M	71.58M	71.54M
Net Income to Common	76.21M	71.18M	115.67M	71.58M	71.54M
Net Income Growth	-34.1%	-0.6%	+61.7%	+1,686.0%	+55.1%
Income Tax Expense	—	—	—	—	—
Net Interest Expense RE	-25.29M	-25.28M	-27.25M	-27.59M	-27.15M
Per Share & Capital
EPS (Basic)	0.28	0.26	0.42	0.26	0.18
EPS (Diluted)	0.28	0.26	0.42	0.26	0.18
EPS Growth	-34.1%	-0.6%	+128.4%	+948.9%	-35.5%
Dividend Per Share	0.27	0.25	0.28	0.27	0.27
Shares Change (YoY)	—	—	-0.29	0.7	1.41
Shares Outstanding (Basic)	275.61M	275.61M	275.61M	275.61M	389.36M
Shares Outstanding (Diluted)	275.61M	275.61M	275.61M	275.61M	389.36M
Dividend Growth	-3.6%	-5.7%	+3.7%	-1.9%	-18.2%
FFO	—	—	—	—	—
Supplemental
Int Inc RE	—	—	—	—	—
Other Operating Expenses RE	2.27M	2.42M	2.29M	2.00M	2.02M