Walaa Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2026-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	633,177	788,219	-19.669	755,063	-16.142
Result of Insurance Services	367,859	357,625	2.861	-643,177	-
Net Profit (Loss) of The Insurance Results	2,505	-48,381	-	-32,525	-
Net Profit (Loss) of The Investment Results	31,216	-2,598	-	408	7,550.98
Net Insurance Financing Expenses	-3,885	-3,565	8.976	-1,500	159
Net Profit (Loss), After Zakat, Attributable To Shareholders	16,180	-67,950	-	-48,791	-
Total Comprehensive Income Attributable to Shareholders of the Issuer	16,180	-62,934	-	-32,275	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Shareholders Equity (after Deducting Minority Equity)	1,695,141	1,768,647	-4.156
Profit (Loss) per Share	0.13	-0.53
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	41,842	3.28
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is	Insurance revenues for the current quarter amounted to SAR 633,177 thousand, compared to insurance revenues amounting to SAR 788,219 thousand of the same quarter of last year. This represents a decrease of 19.67%.

This is mainly due to a decrease in Insurance revenues in Medical, Motor, Property, Energy, P&S Non-linked and P&C other segments, representing a decrease of 10.07%, 41.62%, 14.0%, 3.58%, 49.94%, and 31.06% respectively. This decrease in insurance revenues is partially offset by an increase in insurance revenues in Engineering by 21.98%.The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net Profit before Zakat and income tax for the current quarter amounted to SAR 21,168 thousand compared to Net Loss before Zakat and income tax amounting to SAR 62,950 thousand of the same quarter of last year.

Net Profit after zakat and income tax excluding minority interest for the current quarter amounted to SAR 16,180 thousand compared to Net Loss after zakat and income tax (no minority interest) amounting to SAR 67,950 thousand of the same quarter of last year. The core reasons for the net profit after zakat and tax excluding minority interest for the current quarter comprise the following:

• Insurance service result (profit) for the current quarter amounted to SAR 2,505 thousand, compared to Insurance service result (loss) of SAR 48,381 thousand for the comparative quarter. The insurance service profit for the current quarter was mainly driven by decrease in losses in Medical and Motor segments by 49.84% and 88.82% respectively. Other main reason of insurance service result (profit) for current quarter is increase in profits in P&C other segment by 37.93%.

• Net investment income for the current quarter amounted to SAR 31,216 thousand, compared to net investment loss amounting to SAR 2,598 thousand during the same quarter of the previous year. The investment income for the current quarter was mainly driven by realized gains on equity investments compared with realized losses on equity investments. Further, the unrealized losses on equity investments decreased by 48.99% compared with unrealized losses on these investments in the same quarter of the previous year.

• Other operating income amounting to SAR 2,502 thousand from Aspire subsidiary whereas there is no such income in the same quarter of previous year.

• This favorable impact on net profit after zakat and tax excluding minority interest for the current quarter is partially offset with an increase in Other operating expenses for the current quarter which amounted to SAR 11,826 thousand compared to SAR 9,091 thousand during the comparative quarter, representing an increase of 30.08%.The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is Insurance revenues for the current quarter amounted to SAR 633,177 thousand, compared to insurance revenues amounting to SAR 755,063 thousand of the previous quarter, which represents a decrease of 16.14%.

This is mainly due to a decrease in Insurance revenues in the Motor, Property, Energy, Engineering, P&S Non-linked and P&C Other segments, representing a decrease of 23.80%, 16.13%,5.17%, 15.20%, 59.61% and 28.11% respectively. This decrease in insurance revenues is partially offset by an increase in insurance revenues in Medical by 9.70%.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is Net Profit before zakat and income tax for the current quarter amounted to SAR 21,168 thousand compared to Net Loss before zakat and income tax amounting to SAR 43,387 thousand of the previous quarter.

Net Profit after zakat and income tax excluding minority interest for the current quarter amounted to SAR 16,180 thousand compared to a Net loss after zakat and income tax excluding minority interest amounting to SAR 48,791 thousand of the previous quarter. The core reasons for the net profit after zakat and tax excluding minority interest for the current quarter comprise the following:

• Insurance service result (profit) for the current quarter amounted to SAR 2,505 thousand, compared to Insurance service result (loss) of SAR 32,525 thousand during the previous quarter. The is mainly attributable to decrease in insurance service losses in Medical, Motor, Property, Energy, and P&S Non-linked segments by 18.79%, 78.96%, 129.97%, 142.84% and 49.28% respectively. This favorable impact is partially offset with decrease in insurance service profit in P&C Other segment by 24.44%.

• Net investment income for the current quarter amounted to SAR 31,216 thousand, compared to net investment income amounting to SAR 408 thousand during the previous quarter. This is because of increase in realized gains on equity investments by 81.22% and decrease in unrealized losses on equity investments by 66.21% compared with previous quarter.

• Other operating expenses for the current quarter amounted to SAR 11,826 thousand compared with other operating expenses amounting to SAR 18,954 thousand for previous quarter, representing a decrease by 37.61%

• This favorable impact on net profit after zakat and tax excluding minority interest for the current quarter is partially offset with a decrease in Other operating income for the current quarter which amounted to SAR 2,502 thousand compared to SAR 8,501 thousand during the previous quarter, representing an decrease of 70.57%.Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) NoneReclassification of Comparison Items Certain comparative figures have been reclassified to conform to the change in the presentation methodology adopted by the company in the current period. However, there is no financial impact of these reclassifications on net loss attributable to shareholders and equity.Additional Information The Profit Per Share is calculated on Net Profit after Zakat and Income Tax excluding minority interest for the current period divided by the weighted average number of ordinary shares outstanding during the current period. The earning per share for the current period is SAR 0.13 per share versus loss per share of SAR 0.53 for the comparative period which is calculated by dividing the net profit after zakat and income tax excluding minority interest amount of SAR 16,180 thousands over the weighted average number of ordinary outstanding shares of 127,558 thousand for the current period, and the net loss after zakat and income tax (no minority interest) of SAR 67,950 thousands over the weighted average number of ordinary outstanding shares of 127,558 thousand for the comparative period.

Total Shareholders' Equity excluding minority interest at the end of the current period is SAR 1,695,141 thousand versus SAR 1,768,647 thousand as at the end of the comparative period, which represents a decrease of 4.16%. Minority interest at the end of the current period is SAR 2,957 thousand (no minority interest in comparative period).

Total comprehensive income for the current period excluding minority interest amounted to SAR 16,180 thousand, compared to a total comprehensive loss (no minority interest) amounted to SAR 62,934 thousand for the comparative period.

Moreover, Gross Written Premiums for the current period amounted to SR 403,921 thousand, compared to SAR 522,470 thousand for the same period last year, representing a decrease of 22.69%.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.