11 February 2026 | Riyadh | Almasar Alshamil Education JSC (“Almasar” or the “Company”), the leading provider of specialized education in the GCC, announces its financial results for the full-year period (“FY 2025”) and three-month period (“Q4 2025”) ended 31 December 2025

FY 2025 was a year of continued momentum with strong growth in enrollments and beneficiaries driving record financial performance and a positive Q4 2025 driven by the current academic year intake, positioning Almasar for continued growth in 2026 and beyond.

FY 2025 KEY PERFORMANCE HIGHLIGHTS

• Students and beneficiaries: Grew 20% year-on-year to 27.9k
• Revenue: Increased 22% year-on-year to SAR 533.9 million
• EBITDA: Grew 6% year-on-year to SAR 228.0 million, or 11% on an adjusted basis[1]
• Net Profit: SAR 158.9 million, up 7% year-on-year, or 12% on an adjusted basis¹
• Net Profit attributable to equity holders: Up 9% year-on-year to SAR 130.4 million, or 12% on an adjusted basis¹
• Q4 2025 revenue: Grew 20% year-on-year to SAR 197.8 million, demonstrating strong momentum into 2026
• EPS: Increased year-on-year from SAR 1.17 to SAR 1.27

FY 2025 STRATEGIC AND OPERATING HIGHLIGHTS

• Strong student and beneficiaries growth: 4.7k growth in student and beneficiaries in FY 2025 to 27.9k, with record enrollments at MDX Dubai (6.5k total students, up 14% year-on-year), HDC (7.8k total students and beneficiaries, up 19% year-on-year) and at NEMA Holding (13.7k total students, up 24% year-on-year).
• Expanding special needs education and care (“SEC”) network: HDC continued to execute its growth strategy, expanding its daycare network to 39 from 35 in 2024. Its schools network also grew to 14 locations, from 10 in the prior year.
• Strong delivery across higher education: Record enrollments driven by new program launches, international student outreach at MDX and the positive impact of key strategic initiatives such as Liwa University receiving University status in Abu Dhabi and MDX receiving Commission for Academic Accreditation (“CAA”) licensure from Ministry of Higher Education and Scientific Research in Dubai.

BUSINESS & OPERATIONAL REVIEW (HDC, MDX, NEMA)

SPECIAL NEEDS EDUCATION AND CARE: HUMAN DEVELOPMENT COMPANY (“HDC”)

• Beneficiaries and Students: Increased 19% year-on-year to 7.8k, supported by expansion of the daycare center network and the ongoing ramp-up of capacity utilization across existing centers.
• Network and Facility Expansion: Expanded daycare network to 39 from 35 in 2024 and grew the schools network to 14 locations, compared with 10 in the previous year.
• Revenue: 21% year-on-year increase to SAR 261.3 million, driven by the growth in beneficiaries and daycare network expansion.
• EBITDA: 10% year-on-year increase to SAR 105.3 million, or 15% growth on an adjusted basis, supported by continued student and beneficiary expansion across existing centers and the ongoing rollout of new daycare and school facilities.
• Net Profit: 8% growth year-on-year to SAR 71.1 million, or 17% on an adjusted basis.

HIGHER EDUCATION: MIDDLESEX UNIVERSITY DUBAI (“MDX”)

• Beneficiaries and Students: MDX Dubai enrollments up 14% to 6.5k students, primarily driven by growth in international students, comprising more than 51% of the total student base.
• Program launches: Successfully launched the London Sport Institute in Dubai in June, introduced a daytime MBA at MDX Dubai and opened a new campus building in Dubai Media City, extending the University’s academic provision.
• Revenue: 23% year-on-year increase to SAR 272.6 million, driven by accelerating enrollments and the introduction of new programs.
• EBITDA: Up 16% year-on-year to SAR 100.6 million, or 18% on an adjusted basis.
• Net Profit: 25% growth to SAR 75.4 million during the period, or 17% on an adjusted basis.

FY 2025 FINANCIAL PERFORMANCE

• Revenue: Increased 22% year-on-year to SAR 533.9 million, driven by strong enrollment growth across all business units, with continued expansion and capacity‑utilization ramp‑up of the SEC network.
• EBITDA: Grew 6% year-on-year to SAR 228.0 million, or 11% on an adjusted basis, driven by the higher revenue base. EBITDA, on a reported and adjusted basis, was impacted by higher head office costs of SAR 23.7 million due to the establishment of the new Riyadh head office in 2025.
• Net Profit: SAR 158.9 million, representing a 7% year-on-year increase, or 12% on an adjusted basis.
• Net Profit attributable to equity holders: Increased 9% year-on-year to SAR 130.4 million during the period, or 12% on an adjusted basis.
• EPS: Increased year-on-year from SAR 1.17 to SAR 1.27.

Q4 2025 FINANCIAL PERFORMANCE

• Revenue: Increased 20% year-on-year to SAR 197.8 million, supported by strong enrollment growth across all business units, expansion of the SEC network and continued capacity‑utilization ramp‑
• EBITDA: Increased 5% to SAR 98.7 million, or 16% on an adjusted basis, supported by growth across all business units.
• Net Profit: 10% year-on-year growth to SAR 75.3 million, or 26% on an adjusted basis excluding IPO‑related expenses and other non‑recurring items.
• Net Profit attributable to equity holders: Increased 12% year-on-year to SAR 59.6 million, or 28% on an adjusted basis.

Notes :

^{[1] Adjusted EBITDA & Net Profit measures represent respective metrics adjusted for certain non-recurring items and IPO-related expenses}

^{[2] Cash and bank balances include the cash and bank balances of Almasar Alshamil Education JSC and its subsidiaries. Comparative figures refer to the balance as at 31 December 2024.}