CEO’s Message

We entered the year with determination to reinforce the strength of our core operations while accelerating diversification across services, markets and capabilities. This dual focus guided our decisions throughout the year, ensuring that expansion was matched by operational discipline and that growth was supported by strong underlying foundations. As a result, Jahez continued to evolve from a single-segment delivery operator into a diversified digital platform connecting customers, merchants, logistics networks and partners across multiple markets and verticals.

The defining story of 2025 was transformation through competitive intensity. As market competition increased across our core segments, particularly in Saudi Arabia, it accelerated the pace of innovation, sharpened operational discipline and reinforced our commitment to long-term positioning. Rather than viewing competition as a constraint, we treated it as a catalyst to strengthen our business model and expand our strategic scope.

Throughout the year, we reinforced our leadership in core delivery services while expanding the breadth of our platform. This included advancing our multi-service model, deepening ecosystem integration across subsidiaries and portfolio companies, and expanding our geographic footprint. The acquisition of Snoonu marked a major milestone, providing immediate scale in Qatar and strengthening our regional growth platform through a highperforming, technology-led business with strong unit economics and an experienced international team.

The defining story of 2025 was transformation through competitive intensity.

At the same time, we continued to reposition Jahez in the minds of stakeholders from a delivery service provider to a diversified digital platform. This shift is visible in how customers interact with our services, how partners engage with our infrastructure and how our ecosystem companies operate together to create shared value across markets.

Despite a highly competitive operating environment, Jahez maintained solid financial performance in 2025. Revenue remained broadly stable YoY at approximately & 2.3 billion, supported by sustained demand across core segments and continued growth in new verticals. Profitability remained resilient, with net income attributable to the shareholders of the parent company reaching approximately & 73 million, reflecting disciplined cost management alongside ongoing strategic investment.

The year was characterized by deliberate investment to strengthen long-term positioning. We expanded platform capabilities, enhanced the unified application experience and continued to scale new services including grocery and retail. These investments supported user engagement, improved service breadth and strengthened the structural foundations of future growth. While competitive dynamics required targeted investment to protect market position, our capital allocation remained disciplined and aligned with long-term value creation.

Financially, the balance between resilience and investment defined our performance. We protected profitability in our core segment while continuing to build capabilities that will support sustainable expansion across markets and services in the years ahead.

Operationally, 2025 demonstrated the strength of our execution across a diverse regional footprint. Each market presented distinct conditions, regulatory environments and demand dynamics, requiring localized strategies supported by centralized capabilities.

In Saudi Arabia, we successfully navigated regulatory changes, including the foreign freelancer driver ban implemented in March 2025. Through rapid operational adaptation, we expanded our logistics capacity to more than 4,000 drivers, strengthening reliability and service continuity while maintaining compliance. At the same time, we expanded coverage across additional cities and regions, supporting continued national scale.

Across our regional operations, integration across subsidiaries became increasingly important. Collaboration between Jahez, Logi, Marn, Co, Redbox and Sol strengthened operational coordination, improved logistics efficiency and supported the development of a more connected regional operating model. Entry into Qatar through Snoonu added a highgrowth market with strong multivertical potential, while our existing operations in Kuwait and Bahrain continued to operate within distinct competitive and regulatory environments.

Our service model also continued to evolve. The unified Jahez application expanded to include grocery, retail and additional services, enabling customers to access multiple consumption needs through a single platform. This expansion reflects our broader objective to increase engagement across verticals while improving customer convenience and platform efficiency.

Technology remained central to our ability to scale, differentiate and operate efficiently. During 2025, we introduced major enhancements across platform architecture, operational automation and customer experience.

A redesigned app provided a more integrated, multi-service interface, enabling seamless navigation across delivery, grocery and retail services. This architecture supports future expansion by allowing new services to be integrated rapidly within a unified environment.

Artificial intelligence continued to play an increasingly significant role. A major AI-driven initiative, now more than 65% complete, is set to transform how customers interact with the platform through predictive capabilities, advanced search and personalized experiences. Automation has also been embedded across operational workflows, improving efficiency and reducing manual intervention across logistics and service delivery.

A major AI-driven initiative, now more than 65% complete, is set to transform how customers interact with the platform through predictive capabilities, advanced search and personalized experiences.

Strategic partnerships further strengthened technological capability. Integration with Tawakkalna enabled structured courier scheduling and improved delivery coordination. Collaboration with Noon supported rapid grocery expansion through shared dark-store infrastructure and cross-platform integration, allowing asset-light entry into fast-delivery retail. Deployment of the Redbox model in stc compound and King Faisal Hospital enhanced last-mile efficiency by significantly reducing delivery times within high-density locations. These initiatives demonstrate how technology continues to drive operational efficiency, service innovation and scalable growth across the platform.

Our progress in 2025 was made possible by the dedication and capability of our people. As the organization expanded across markets and services, we continued to strengthen internal communication, engagement and performance management.

We introduced initiatives to enhance transparency, recognize achievement and reinforce accountability across teams. Structured performance frameworks support clarity of expectations, while collaboration across functions has become increasingly central to how we operate as an integrated platform organization.

Our culture remains rooted in ownership, customer focus and continuous improvement. As the business grows in scale and complexity, these cultural foundations ensure that agility, responsiveness and execution discipline remain central to how we operate.

Looking ahead to 2026, our focus will remain on strengthening integration across the platform while continuing to expand service breadth and geographic reach. We will advance artificial intelligence capabilities, including predictive services, intelligent search and voice-based interactions, further enhancing customer experience and operational efficiency.

We will continue to deepen ecosystem integration across our companies, enabling more coordinated service delivery and shared capability development. New services and business models will be introduced within the multi-service platform, supporting increased engagement and diversified revenue streams.

Regional expansion will remain a priority, with Snoonu as the Group's primary international operating platform, supported by modular technology architecture and standardized operating frameworks. At the same time, we will continue to strengthen the foundations of operational efficiency, scalability and financial discipline that underpin sustainable long-term growth.

I would like to express my sincere appreciation to our employees across all markets whose dedication and professionalism drive our performance every day. I thank our customers for their trust, our merchant partners for their collaboration and our delivery partners for their commitment to service excellence.

I also extend my gratitude to our shareholders for their continued confidence and to our Board of Directors for their guidance and support. Finally, I acknowledge our strategic partners across the region whose collaboration continues to strengthen our capabilities and expand our opportunities.

As we look ahead, we remain focused on building a stronger, more connected platform that delivers lasting value across every market we serve.