COVER RATIONALE BUILDING STRONG PARTNERSHIP FOR SHARED EXCELLENCE At the core of Al-`Aqar Healthcare REIT’s journey is the understanding that sustainable progress in healthcare infrastructure relies on trusted, longstanding relationships. “Building Strong Partnership for Shared Excellence” reflects its commitment to fostering enduring collaborations that create value throughout its healthcare ecosystem. The hospital assets are depicted in teal and dark blue to symbolise trust, stability, and the strength of strategic alliances, with the complementary colours reinforcing unity in partnership. The abstract converging elements in the background further express the alignment of expertise, capital, and operational excellence, illustrating how collective effort drives resilience, growth, and shared excellence in delivering quality healthcare infrastructure. INSIDE THIS REPORT AL-`AQAR HEALTHCARE REIT 3 Introduction 3 Basis of Preparation 4 Reporting Scope and Boundary 4 Limitations and Exclusions 4 Audit and Assurance 5 Forward-Looking Statements 5 Feedback ABOUT THIS REPORT 01 Page 2 7 2025 Highlights 8 Corporate Profile 9 Trust Structure 10 Organisational Structure 11 Salient Features ABOUT AL-`AQAR 02 Page 6 13 Letter to Stakeholders 17 Business Review 23 Operating Environment BUSINESS OVERVIEW 03 Page 12 INVESTOR RELATIONS REPORT 04 29 Financial Calendar 30 Investor Relations Report Page 28 32 Value Creation Model 34 Financial Capital 34 Five-Year Financial Performance 36 Trading Performance 38 Financial Review 39 Capital Review 40 Portfolio Capital 40 Portfolio Overview 42 Segmental Highlights APPROACH TO VALUE CREATION 05 Page 31
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