•Total revenue reached SAR 1,674 million

•This exhibits 13.7% increase from Q1 2024 (SAR 1,472.9 million)

Key Reasons for Growth:

1) Retail Grocery

• Strong seasonal campaigns helped boost sales

• 3 retail stores opened, including new convenience stores

• Sales benefited from stores opened in 2024 (full-period impact)

2) Tech Business

• Growth in Future Retail Tech’s (FTR) both companies: International Application Company (IACo) and Ykone.

• IACO had strong online sales due to:

• More dark stores were added;

• Better product availability;

• Fast order delivery; and

• Good support from delivery apps like Jahez and the Chefz

• Ykone grew well in Europe

• Also, continued strong performance in the Middle East; and

• Big improvement in India after the acquisition on Barcode business

3) Distribution Business

• The newly acquired Distribution business, which was acquired after the second quarter 2024, continued to show rising sales.

• Good growth compared to last year since joining BDH

4) Retail Pharmacy

• The newly acquired pharmacy business, which was acquired in Q1 2025, also contributed to BDH's revenue.

• Along with organic growth, 3 standalone pharmacies and 4 in-store pharmacies (within BinDawood and Danube stores) were launched in Q1 2025, contributing to overall sales.

• Offered products that better match customer needs;

• Built stronger relationships with suppliers, led to getting better deals;

• Made overall operations more efficient; and

• The distribution & Pharma business (which has higher profit margins) helped increase gross profit compared to last year.

Total Operating Expenses

• Reached to SAR 438.5 million

• increased by 18.7% from SAR 369.5 million in Q1 2024

Main Reasons for the Increase:

• Additional costs from the retail pharmacy business, which was not included in Q1 2024.

• Additional costs from the distribution business, which was also not included in Q1 2024.

• Full-period impact of store operating costs due to:

- 10 stores opened last year

- New stores launched in Q1 2025

Net profit for Q1 2025 grew by 8.5%, reaching SAR 65.7 million, increased from SAR 60.5 million in Q1 2024, primarily driven by higher revenue and improved gross margin.

Partially offset by:

• An increase in operating expenses as explained above;

• A decline in deposit income; and

• Higher finance costs related to a recently obtained loan for the retail pharmacy acquisition

Retail Grocery:

• The rollout of two express stores and one supermarket in Q1 2025;

• positive contributions from stores opened in Q4 2024; and

• The Company successfully capitalized on seasonal demand and optimized operations.

Tech Business:

• Ykone's performance was softer compared to the previous period, as most of its revenue is typically generated in the second half of the fiscal year due to seasonal factors; and

• In contrast, IACo experienced growth driven by increased online sales, as explained above, contributing to its overall revenue expansion.

Distribution Business:

• The newly integrated Distribution arm helped increase the Company’s total revenue

• It has shown fast growth since joining BDH’s ecosystem

• Which highlights the following:

- The synergies created through the integration; and

- An improved operational framework under BDH.

Retail Pharma:

• As explained above, the newly acquired pharmacy business added to overall revenue of BDH.

• Gross profit increased by 3.1%, from SAR 512.8 million to SAR 528.7 million versus Q4 2024 which mainly due to strong sales momentum compared to the previous quarter.

Gross Profit Margin:

• Margin dropped from 36% in Q4 2024 to 31.6% in Q1 2025

• Main reasons for the drop:

- A conservative strategy, where some supplier rebates are recognized only when full-year results are more certain; and

- Positive contributions from Distribution, Tech, and the new retail pharmacy business, but with different margin profiles.

Net Profit:

• Net profit fell from SAR 109.7 million in Q4 2024 to SAR 65.7 million in Q1 2025

• Reasons for the decrease:

- Higher operating expenses

- Increased finance costs from the pharmacy business acquisition

- Lower finance income

1. Non-current assets increased by 14% resulting from an increase in property and equipment, right-of-use assets and goodwill including the impact of consolidating Retail Pharma Business.

2. Current assets increased by 20.2% mainly because of increase in inventories, trade and other receivables and cash and cash equivalents including the impact of consolidating Retail Pharma Business.

3. Current liabilities increased by 31.5% due to increase in current portion of bank borrowings, trade payable, dividend and Zakat Payable including the impact of consolidating Retail Pharma Business.

4. Non-current liabilities increased by 18.1% because of increase in lease liabilities, end of service benefits and long term loan including the impact of consolidating Retail Pharma Business.

5. Total equity decreased by 2.9% due to decrease in retained earnings.

General comments:

Post Q1 2025, a standalone pharmacy under the Zahrat brand was opened at Taif Airport, and an express store under the BinDawood Dash brand was opened in Medina.