Umm Al Qaiwain General Investment Co.

1. Company Overview & Earnings Context

Umm Al Qaiwain General Investments Company PSC (QIC) is an Abu Dhabi Securities Exchange (ADX)-listed investment company focused on managing a diversified portfolio of listed equities and other strategic investments. During H1 2026, the company reported lower profitability as declining financial markets reduced the fair value of certain investments. Despite this, portfolio income from cash dividends increased significantly, reflecting the resilience of its long-term investment strategy. Management reaffirmed the company's strong financial position and conservative investment approach aimed at delivering sustainable shareholder returns.

2. Financial Performance Snapshot

• Investment Net Profits: AED 30.47 Million (-35.3% YoY)

• Administrative Expenses: AED 2.64 Million (+27.6% YoY)

• Finance Costs: AED 0.24 Million (-28.7% YoY)

• Net Profit Before Tax: AED 27.47 Million (-38.4% YoY)

• Net Profit After Tax: AED 27.68 Million (-36.8% YoY)

• Corporate Tax: AED 0.21 Million (vs. tax expense of AED 0.80 million in H1 2025)

Compared with H1 2025:

• Investment net profits declined 35.3% to AED 30.47 million.

• Administrative expenses increased 27.6% to AED 2.64 million.

• Finance costs declined 28.7% to AED 0.24 million.

• Net profit before tax declined 38.4% to AED 27.47 million.

• Net profit after tax declined 36.8% to AED 27.68 million.

• Portfolio cash dividend income increased by AED 7.68 million year-on-year.

3. Operational Highlights & Key Metrics

• Net Investment Profits: AED 30.47 Million

• Portfolio Cash Dividend Income: +AED 7.68 Million YoY

• Administrative Expenses: AED 2.64 Million

• Finance Costs: AED 0.24 Million

• Foreign Exchange Loss: AED 0.12 Million

• Net Profit Before Tax: AED 27.47 Million

• Net Profit After Tax: AED 27.68 Million

4. Key Performance Drivers

The company's H1 2026 results were primarily affected by lower market valuations of certain investments following weakness in financial markets. However, this was partially offset by a significant increase in cash dividend income received from its investment portfolio, together with stronger realized investment gains. The diversified portfolio and disciplined investment strategy continued to support resilient earnings despite market volatility.

5. Outlook & Forward Guidance

Management reaffirmed the strength and solidity of the company's financial position and stated that it continues to follow a conservative investment policy amid temporary market fluctuations. The company remains focused on expanding its investment portfolio and generating sustainable long-term returns for shareholders.

6. Investor Takeaway

Umm Al Qaiwain General Investments delivered a resilient H1 2026 performance despite softer financial markets. While lower market valuations weighed on profitability, higher dividend income, continued investment gains and a conservative investment strategy highlight the company's ability to navigate market cycles and remain focused on creating long-term shareholder value.