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MARI ENERGIES LIMITED

CONDENSED INTERIM FINANCIAL STATEMENTS (Un-audited) For The Three Months Period Ended September 30, 2025

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Registered / Head Office

21- Mauve Area, 3rd Road, G-10/4 P.O. Box 1614, Islamabad 44000 Tel: 051-111-410-410, 051-8092200 Fax: 051-2352859 Email: [email protected] Web: marienergies.com.pk

External Auditors

A.F. Ferguson & Co., Chartered Accountants A member firm of PWC network 74- East 2nd Floor, Blue Area, Jinnah Avenue P.O. Box 1614, Islamabad-44000, Pakistan Tel: 051-2273457-60 Email: [email protected] Web: www.pwc.com/pk

Field Office Daharki

Daharki, District Ghotki Tel: 0723-111-410-410, 0723-660403-30 Fax: 0723-660402

D-87, Block 4, Kehkashan, Clifton P.O. Box 3887, Karachi -75600 Tel: 021-111-410-410 Fax: 021-35870273

Quetta Liasion Office

26, Survey-31, Defence Officers . Housing Scheme, Airport Road, Quetta Tel: 081-2821052, 2864085, 2839790 Fax: 081-2834465

Shares Registrar

M/s Corplink (Pvt) Limited Wings Arcade, 1-K Commercial Model Town, Lahore Tel: 042-35839182, 042-35916714 Email: [email protected]

Legal Advisor

Barrister Panni Law Associates Advocates - Corporate Consultants Apt. # E-1, Karakoram Enclave - 1 Hamza Road, Sector F-11/1, Islamabad. Tel: 051-2856086-88

Bannu Cantt Tel: +92 8621794 - 5

Bankers Allied Bank Limited Askari~~Bank Limited~~ Bank Al~~falah Limited~~ Habib B~~ank Limited~~ National~~Bank of Pakistan~~ United Bank Limited Al-Baraka Bank Limited Standard Chartered Bank Meezan Bank Limited ~~Bank Islami Pakistan~~ ~~JS Bank Limited~~ ~~Dubai Islamic Bank Limited~~ ~~Faysal Bank Limited~~ ~~Habib Metropolitan Bank Limited ~~ ~~MCB Bank Limited~~ ~~Bank of Punjab~~ Bankers AlliedBank Limited Askari Bank Limited Bank Alfalah Limited Habib Bank Limited National Bank of Pakistan United Bank Limited Al-Baraka Bank Limited Standard CharteredBank Meezan Bank Limited Bank Islami Pakistan Limited The Bank of Khyber Dubai Islamic Bank Limited Faysal Bank Limited Habib Metropolitan Bank Limited MCB Bank Limited B Sindh Bank Limited ank of Punjab	Bankers Allied Bank Limited Askari~~Bank Limited~~ Bank Al~~falah Limited~~ Habib B~~ank Limited~~ National~~Bank of Pakistan~~ United Bank Limited Al-Baraka Bank Limited Standard Chartered Bank Meezan Bank Limited ~~Bank Islami Pakistan~~ ~~JS Bank Limited~~ ~~Dubai Islamic Bank Limited~~ ~~Faysal Bank Limited~~ ~~Habib Metropolitan Bank Limited ~~ ~~MCB Bank Limited~~ ~~Bank of Punjab~~ Bankers AlliedBank Limited Askari Bank Limited Bank Alfalah Limited Habib Bank Limited National Bank of Pakistan United Bank Limited Al-Baraka Bank Limited Standard CharteredBank Meezan Bank Limited Bank Islami Pakistan Limited The Bank of Khyber Dubai Islamic Bank Limited Faysal Bank Limited Habib Metropolitan Bank Limited MCB Bank Limited B Sindh Bank Limited ank of Punjab	Bankers Allied Bank Limited Askari~~Bank Limited~~ Bank Al~~falah Limited~~ Habib B~~ank Limited~~ National~~Bank of Pakistan~~ United Bank Limited Al-Baraka Bank Limited Standard Chartered Bank Meezan Bank Limited ~~Bank Islami Pakistan~~ ~~JS Bank Limited~~ ~~Dubai Islamic Bank Limited~~ ~~Faysal Bank Limited~~ ~~Habib Metropolitan Bank Limited ~~ ~~MCB Bank Limited~~ ~~Bank of Punjab~~ Bankers AlliedBank Limited Askari Bank Limited Bank Alfalah Limited Habib Bank Limited National Bank of Pakistan United Bank Limited Al-Baraka Bank Limited Standard CharteredBank Meezan Bank Limited Bank Islami Pakistan Limited The Bank of Khyber Dubai Islamic Bank Limited Faysal Bank Limited Habib Metropolitan Bank Limited MCB Bank Limited B Sindh Bank Limited ank of Punjab
	ank Limited Me AlliedBank Limited	ezan Bank Limited Standard CharteredBank
	~~ank Limited~~ ~~Ba~~ ~~S~~ Askari Bank Limited	~~nk Islami Pakistan~~ ~~k Liid~~ Meezan Bank Limited
	~~falah Limited~~ ~~J~~ ~~D~~ Bank Alfalah Limited	~~an mte~~ ~~bi Ili Bk Liitd~~ Bank Islami Pakistan Limited
	~~ank Limited~~ ~~u~~ ~~F~~ Habib Bank Limited	~~a samc an me~~ ~~l Bk Liid~~ The Bank of Khyber
	~~Bank of Pakistan~~ ~~a~~ National Bank of Pakistan	~~sa an mte~~ ~~i li k ii~~ Dubai Islamic Bank Limited
	ank Limited ~~Ha~~ ~~M~~ United Bank Limited	~~b Metropotan Ban Lmted ~~ ~~B Bk Liitd~~ Faysal Bank Limited
	ka Bank Limited ~~B~~ Al-Baraka Bank Limited	~~an me~~ ~~k f Pb~~ Habib Metropolitan Bank Limited
	~~a~~ B ank of Punjab	~~n o unja~~ MCB Bank Limited
	Sindh Bank Limited

~~Ban o Pastan~~ ank Limited ka Bank Limited ~~Habib Metropolitan Bank Limited ~~ ~~MCB Bank Limited~~ ~~Bank of Punjab~~ National Bank of Pakistan United Bank Limited Al-Baraka Bank Limited Dubai Islamic Bank Limited Faysal Bank Limited Habib Metropolitan Bank Limited MCB Bank Limited B Sindh Bank Limited ank of Punjab	~~Ban o Pastan~~ ank Limited ka Bank Limited ~~Habib Metropolitan Bank Limited ~~ ~~MCB Bank Limited~~ ~~Bank of Punjab~~ National Bank of Pakistan United Bank Limited Al-Baraka Bank Limited Dubai Islamic Bank Limited Faysal Bank Limited Habib Metropolitan Bank Limited MCB Bank Limited B Sindh Bank Limited ank of Punjab	~~Ban o Pastan~~ ank Limited ka Bank Limited ~~Habib Metropolitan Bank Limited ~~ ~~MCB Bank Limited~~ ~~Bank of Punjab~~ National Bank of Pakistan United Bank Limited Al-Baraka Bank Limited Dubai Islamic Bank Limited Faysal Bank Limited Habib Metropolitan Bank Limited MCB Bank Limited B Sindh Bank Limited ank of Punjab
Registration, NTNand GST Numbers
Registration Number		00012471
N	ational Tax Number	1414673-8
GST No.		07-01-2710-039-73
Symbol on Pakistan Stock Exchange		MARI

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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BOARD OF DIRECTORS	03
COMMITTEES OF THE BOARD	04
DIRECTORS’ REVIEW	05
CONDENSED INTERIM FINANCIAL STATEMENTS	13 - 30
Statement of Financial Position	14
Statement of Proft or Loss	15
Statement of Comprehensive Income	16
Statement of Changes in Equity	17
Statement of Cash Flows	18
Notes to the Interim Financial Statements	19
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS	31 - 48
Statement of Financial Position	32
Statement of Proft or Loss	33
Statement of Comprehensive Income	34
Statement of Changes in Equity	35
Statement of Cash Flows	36
Notes to the Interim Financial Statements	37
DIRECTORS’ REVIEW IN URDU	49

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BOARD OF DIRECTORS

Lt Gen Anwar Ali Hyder HI(M) (Retd) Chairman, Non-Executive Director

Mr. Syed Bakhtiyar Kazmi

Non-Executive Director

Mr. Qamar Haris Manzoor

Non-Executive Director

Mr. Faheem Haider

Managing Director/CEO, Executive Director Mr. Momin Agha

Non-Executive Director

Mr. Zafar Abbas

Non-Executive Director

Mr. Ahmed Hayat Lak

Non-Executive Director

Mr. Muhammad Aamir Salim

Non-Executive Director

Mr. Abid Hasan

Non-Executive Independent Director

Ms. Seema Adil

Non-Executive Independent Director

Ms. Ayla Majid

Non-Executive Independent Director

Mr. Nabeel Rasheed

Brig Sumair Ashraf Sheikh (Retd) Company Secretary

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COMMITTEES OF THE BOARD

AUDIT COMMITTEE Director Designation Mr. Abid Niaz Hasan Chairman Mr. Syed Bakhtiyar Kazmi Member Mr. Momin Agha Member Mr. Ahmed Hayat Lak Member HR&R COMMITTEE Director Designation Ms. Ayla Majid Chairperson Mr. Qamar Haris Manzoor Member Mr. Ahmed Hayat Lak Member Mr. Zafar Abbas Member TECHNICAL COMMITTEE Director Designation Mr. Qamar Haris Manzoor Chairman Mr. Zafar Abbas Member Mr. Ahmed Hayat Lak Member Ms. Seema Adil Member INVESTMENT COMMITTEE Director Designation Mr. Syed Bakhtiyar Kazmi Chairman Ms. Ayla Majid Member Mr. Zafar Abbas Member Mr. Muhammad Aamir Salim Member ENVIRONMENT, SOCIAL & GOVERNANCE COMMITTEE Director Designation Ms. Seema Adil Chairperson Mr. Abid Niaz Hasan Member Mr. Momin Agha Member Mr. Muhammad Aamir Salim Member

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED

DIRECTORS’ REVIEW

We are pleased to present our review report along with the condensed interim standalone and consolidated financial statements of the Company for the three-month period ended on September 30, 2025.

Key Highlights:

A final cash dividend of Rs. 21.7 per share (217%) was distributed for FY 2024-25.
Despite forced gas curtailment, the Company achieved a slight rise in sales volumes, demonstrating operational resilience.
Key exploration and appraisal milestones included the completion of three wells in Ghazij and two wells in Shawal, while drilling is ongoing at Spinwam East, and testing activities are in progress at Zarghun ZSG-1 and Shawal-3.
Development success was marked by SML-2’s smart completion, Bolan East-2’s production start up and enhanced oil recovery at Halini Deep-1 through gas lift.
Evaporative coolers were installed at Swing Volume Processing Facility (SVPF) enabling consistent supply during peak summer hours, enhancing operational reliability and sales volume consistency.
The government approved the Declaration of Commerciality and granted a 20-year D&P lease for Bolan East Field, along with Declaration of Commerciality (DoC) for Shewa Discovery.
Mari Minerals (Private) Limited, under the joint venture agreement with International Resource Holding Mining RSC Ltd (IRH), incorporated two project companies, Amuri Minerals Private Limited and Amuri Resources Private Limited, during the period.
MariEnergies expanded its exploration portfolio with acquisition of additional acreage.

Operational Environment and Key Challenges:

Security situation in KP and Balochistan remains a critical factor for operations continuity. The Company continues to work closely with all stakeholders to ensure adaptive security measures and foster goodwill.
Forced curtailments by distribution companies due to high network pressure continue to challenge operations, impacting sales volumes, revenues and facility operability. The Company, along with industry, is actively discussing solutions with government stakeholders to address this issue and maximize indigenous production of hydrocarbons.
The ongoing issue of circular debt, amounting to Rs 78.5 billion, remains a significant challenge. The Company is actively working with authorities and stakeholders to resolve the issue and improve recovery trends.

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

DETAILED REPORT

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HEALTH, SAFETY AND ENVIRONMENTAL PERFORMANCE

The year began with renewed focus on Health, Safety, and Environment (HSE) excellence, driving safety culture, operational assurance and workforce engagement. Process safety advanced through Process safety management (PSM) Champion Program kickoff, PSM Leadership Development Program (Phase I), supported by cyclic Hazard and Operability Study (HAZOPs) at four fields and two PSM Committee meetings.

Safety culture strengthened via Time Out for Safety sessions, Level 1,2 & 3 Committee meetings, 225 mock drills, 14,490 training man-hours, and multiple Talent Learning Management System (Talent LMS) courses.

Functional assurance included 2,032 inspections, 08 cross-functional audits by safety leadership and 11 pre-incident investigations. Control of work (COW) workshop, TRA sessions and 15 contractor Service Quality Meetings reinforced compliance and operational safety.

Environmental, Social & Governance (ESG) Performance and Sustainability Leadership

The Company continued to advance its ESG and IFRS S1 and S2 compliance journey through structured assessments, capacity building and strengthened governance. In this regard, a comprehensive in-house gap assessment was performed against the ESG Reporting Guidelines.

The Company engaged with sustainability experts of prominent energy organization in the region to seek insights on developing “Climate Smart” field projects, integrating climate resilience into future operations. The Composting Facility Project also progressed, with the design currently under review by respective stakeholders, reinforcing the Company’s commitment to circular economic principles.

HYDROCARBON SALES

The hydrocarbon sales during the period are summarized below:

	Period ended September 30	Period ended September 30	Period ended September 30	Period ended September 30	Increase / (Decrease) Cumulative
	2026		2025
	Cumulative	Per day	Cumulative	Per day
Gas (MMSCF)
Mari Field	72,061	783	72,909	792	(1%)
Other Fields	2,768	30	1,530	17	81%
	74,829	813	74,439	809	1%
Crude oil(BBLs)
Mari Field	10,268	112	12,382	134	(17%)
Other Fields	115,734	1,258	100,430	1,092	15%

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	126,002	1,370	112,812	112,812	1,226	12%
Total Net Sales in BOEs 10.03 Million 109,068 (per day) 9.93 Million 107,982 (per day) 1%
Total Net Sales in BOEs	10.03 Million	109,068 (per day)	9.93 Million	107,982 (per day)

The Company faced challenges due to frequent forced curtailments by distribution companies and gas suspension from Shewa due to export line rupture incidents. The Company implemented efficient strategies, operational optimizations, and proactive customer engagement to manage sales volume, which would have been much lower in the absence of these strategies.

The Company remains committed to enhancing production capacity through the rapid development and commissioning of new wells. During the quarter, MD-23 was commissioned into the SGPC network, while another new well, Bolan East–2 was integrated with the Bolan East field, showing our continued efforts to sustain and expand hydrocarbon output.

FINANCIAL PERFORMANCE

Despite additional 15% wellhead charge on Mari Field from November 2024, the Company demonstrated remarkable operational and financial resilience by reporting Net Sales of Rs. 45.4 billion with a Net Profit of Rs. 15.6 billion . Earnings per share for the period was Rs. 13.03 per share . Reconciliation of Q1 2025-26 profit with Q1 2024-25 is as follows:

Profit after tax - Q1 2024-25 Additional Wellhead Impact Profit after tax - Q1 2025-26	Rs. in Billion 19.2 (3.6)
	15.6

Description	Three-months period ended September 30	Three-months period ended September 30	Increase / (Decrease)
	2026	2025
	(Rs. in	Million)
Net Sales	45,351	45,297	0%
Profit Before Tax	23,051	29,129	(21%)
Income Tax	(7,411)	(9,901)	(25%)
Net Profit	15,640	19,228	(19%)
EPS(Rs. Per Share)	13.03	16.01	(19%)
EPS (Consolidated - Rs. Per Share)	13.16	15.99	(18%)

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Net sales remained in line with the corresponding period, as the impact of higher sales volumes was offset by decline in applicable prices.

Profitability was impacted by the imposition of 15% additional wellhead charge on sales from the Mari Field and decline in finance income reflecting the decreased policy rate.

EXPLORATION, DEVELOPMENT AND OPERATIONAL ACTIVITIES

The Company’s drilling initiatives reflect a strategic commitment to expanding its resource base and strengthening production capabilities through targeted exploration and development efforts. Significant progress has been achieved in recent drilling operations, underscoring the effectiveness of these initiatives.

Exploration and Appraisal Wells:

Ghazij exploration wells (Ghazij CF-A1, Ghazij CF-C1 and Ghazij CF-B1) have successfully been drilled and completed in Ghazij formation.
Shawal appraisal (Shawal-4 and Shawal-5) wells have successfully been completed whereas Shawal-3 is currently under testing as part of the Shawal appraisal program.
Spinwam East- Shewa-3 well in Waziristan Block was spud-in on August 11, 2025, to appraise the hydrocarbon potential of Lockhart, Hangu & Kawagarh Formations. Currently, drilling is in progress.
ZSG well in Zarghun was spud in on August 19, 2025, to test the hydrocarbon potential of limestone reservoir beds within Ghazij Formation. Currently well is under testing after reaching target depth.

Development Wells:

SML-2 was successfully drilled and completed as a gas producer in Ghazij and SMLSUL reservoirs using Smart Completion. The well was tested at gas rate of 5 MMscfd from Ghazij and 2.6 MMscfd from SML-SUL reservoirs.
Five Ghazij development wells are planned to be drilled during the current year as part of Ghazij Phase-I Field Development.
One HRL horizontal development well is planned to be drilled during the year as part of horizontal drilling campaign to enhance the production capacity from HRL reservoir.

Portfolio Expansion

MariEnergies, along with Fatima Petroleum Company Limited (FPCL), has entered into a farm-out agreement with Hycarbex-American Energy Inc. (“Hycarbex”) for the Peshawar Block in Khyber Pakhtunkhwa. Under the agreement, MariEnergies will acquire 65% working interest and Operatorship, while FPCL will take 25% working interest. The transaction is subject to regulatory approvals.

In addition, the Company participated in the onshore bid round held on October 1, 2025, and secured Block-28 North, subject to regulatory approvals.

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With the addition of these two blocks, the Company’s portfolio will expand to 48 Licenses, including Offshore Block 5 in Abu Dhabi, collectively covering an area of 100,288 sq. km.

Seismic Data Acquisition Projects and G&M Surveys:

Sr	Seismic/ G&M Projects	Operator	Initiated in	Status
Operated Blocks
1	Wali West - 2D Seismic	MariEnergies	2022-23	Crew demobilized due to securityreasons
2	Sharan - 2D Seismic	MariEnergies	2023-24	Project completed. Crew demobilization is in progress
3	Waziristan G&M Survey & 2D Seismic	MariEnergies	2025-26	In progress
Non-operated Blocks
1	Kohat - 3D Seismic	OGDCL	2025-26	Inprogress

Offshore Block-5 (UAE)

Following execution of the PCA, the project has formally transitioned into the development phase and it is progressing in line with the approved development plan. Exploration activities are also in progress as per the approved work program.

Significant Development Projects:

Optimizing Swing Volume Flow Through Evaporative Cooling Integration

High gas temperature had previously been a limiting factor in achieving desired gas sales volumes from Swing Volume Processing Facility (SVPF), particularly during peak summer hours. To address this challenge, two evaporative coolers have been installed, commissioned, and brought into operation. As a result of this modification, SVPF is now able to consistently supply approximately 57 MMscfd of specified gas, even during the high-temperature conditions of summer peak hours. This improvement has enhanced operational reliability and sales volume consistency.

HRL Pressure Enhancement Facilities (PEF) Project

MariEnergies, in collaboration with its fertilizer customers, is implementing the PEF project at the Mari Field to manage declining reservoir pressure and sustain the HRL production plateau. Debottlenecking (DBN)-III is currently in progress, while nodal compression is expected to be commissioned in next fiscal year.

SML-SUL Development

SML-2 was drilled and completed using Smart Completion in Ghazij and SML-SUL reservoirs. SML-3 are SML-4 are planned Smart Completion wells to sustain plateau production and improve recovery from the field.

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Carbon Capture and Sequestration (CCS) Project

The CCS project aiming to pave way for efficient carbon capture and storage is progressing with Front-End Engineering Design (FEED) to commence soon, supported by reservoir studies and regulatory coordination for carbon credit certification. The project is now named “Cquestra”. The project has been listed with VERRA (Voluntary Market platform for carbon credits registration) as an under-development project.

Approval of Commerciality / Field Development Plan

The government has approved Declaration of Commerciality as well as Field Development Plan and granted D&P Lease over Bolan East Field, Balochistan for 20 years w.e.f 8[th] July 2024. Further, the Government has approved the Declaration of Commerciality over Shewa Discovery w.e.f. 07[th] April 2025.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Company remains steadfast in its commitment to corporate social responsibility, investing in initiatives that advance sustainable development, skills training, food security, environmental protection and equitable access to education and healthcare. These efforts are strategically designed to empower local economies, strengthen stakeholder relationships and leave a lasting positive legacy in the communities we operate.

Strategic Partnerships:

Mari Champion Program has been launched to support youth early in their careers in education, sports and other fields by fostering guidance, collaboration and recognition. As part of this effort, quarterly virtual meetups bring changemakers together to share knowledge, build networks and celebrate success stories, inspiring collective action for sustainable community impact.

Baseline studies for the Mari Kissan Dost Program and Mari Meal Program were finalized, with impact evaluations planned after one year of implementation to measure long-term results.

DIVIDEND

The final cash dividend for FY 2024-25 of Rs. 21.7 per share (217%) was distributed to the shareholders during the period.

FUTURE OUTLOOK OF THE COMPANY

The Company remains fully committed to its Vision 2030 and long-term growth strategy. The primary focus is on strengthening core business to ensure national energy and food security. Company’s diversification into the mining and technology sectors represents a strategic extension which is aligned with its broader objectives and reinforces its path toward sustainable growth and positions it as a national leader in ESG.

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The Company’s key priorities in the short to medium term include the following:

Development of Ghazij, Shewa, Spinwam, Shawal, Soho, and Pateji discoveries
Progressive & Sustainable ramp-up from Shewa, Jhim-East and Pateji discoveries
Surface and subsurface activities for execution of HRL PEF Project in Mari Field
Construction and operationalization of data centers in Islamabad and Karachi
Focused drilling operations under its mining licences
Block-5, Abu Dhabi.

DIVERSIFICATION EFFORTS

The Company is driving its diversification strategy into mineral mining and technology through its wholly owned subsidiaries, Mari Minerals (Private) Limited and Mari Technologies Limited.

Mari Minerals (Private) Limited

MariMinerals, a wholly owned subsidiary of MariEnergies, entered into a Joint Venture Agreement (JVA) for mining licenses EL 302 and EL 303 with International Resources Holding Mining RSC Ltd (IRH), Balochistan Mineral Resources Limited, and the Government of Balochistan. In line with the terms of JVA, two project companies, Amuri Minerals (Private) Limited and Amuri Resources (Private) Limited, have been incorporated and the process to transfer the relevant licenses to these project companies has commenced. Field activities have commenced under the operator, IRH. Drilling activities in EL-322 and EL 323 are also in-progress.

Mari Technologies Limited

MariTechnologies, a wholly owned subsidiary of MariEnergies, is focused on advancing data centers, cloud computing, artificial intelligence and emerging technologies, particularly in the petroleum and mining sectors.

MariTechnologies, through its majority owned subsidiary SKY47 Limited (SKY47), is spearheading the development of Tier III/IV certified data centers to strengthen Pakistan's digital infrastructure and contribute to economic diversification.

Currently, construction of data center at Islamabad site is in progress. Second site is located at Port Qasim near Karachi where preliminary project works are in progress,

Awards and Recognitions:

MariEnergies won Environment Excellence Award at the Annual Environment Excellence Awards 2025, organised by the National Forum for Environment and Health on July 28, 2025.
ESG Excellence Award in Renewable Energy Development at the ESG Summit Pakistan 2025, held on September 25, 2025.

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TRIBUTE TO LAW ENFORCEMENT AGENCIES (LEAs)

The Company conveys its deep appreciation to the Law Enforcement Agencies for their steadfast support, commitment and exemplary professionalism in safeguarding our people and operations of national importance.

ACKNOWLEDGEMENT

The Board of Directors would like to commend all employees of the Company for their dedication and commitment to delivering on various significant projects of national importance.

The Board also wishes to express its appreciation for the continued assistance and cooperation received from Federal and Provincial Governments, Local Administrations and various departments of the Federal Government especially the Ministry of Energy (Petroleum Division), Ministry of Finance, OGRA, DGs (Petroleum Concessions, Oil and Gas), Fauji Foundation, OGDCL, FBR, LEAs, Suppliers, JV partners, and all other stakeholders.

For and on behalf of the Board

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Faheem Haider Managing Director/CEO

Lt. Gen. Anwar Ali Hyder, HI (M), (Retd) Chairman

Islamabad October 30, 2025

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CONDENSED INTERIM FINANCIAL STATEMENTS

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MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025

(Un-Audited)	(Un-Audited)	(Un-Audited)	(Un-Audited)
30.09.2025
261,164,332

489,425 5,463,198 34,232,691 47,684,561	508,959 6,168,130 32,904,038 43,125,909	238,026,123	231,246,288
87,869,875		13,634,562 85,897,606 6,531,171 867,998 5,919,065 1,605,806 30,073,560 177,885 25,521,474	12,681,811 86,581,711 6,470,316 249,638 6,449,787 1,396,462 38,226,461 268,098 38,699,211
38,701,556 144,999 3,597,642 1,067,085 15,709,761	50,407,289 147,570 3,103,249 696,411 13,554,173
59,221,043
147,090,918		170,229,127	191,023,495

	422,269,783 TOTAL ASSETS
408,255,250		408,255,250	422,269,783

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Managing Director / CEO

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Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Note Gross sales General sales tax	Three months	period ended
	30.09.2025	30.09.2024
	51,409,648 (5,504,092) (554,323) (6,058,415) 45,351,233 (11,274,163) (8,368,756) (2,212,059) (976,620) (1,380,084) (24,211,682) 21,139,551 221,131 1,656,467 34,162 23,051,311 (7,411,133) (Rupees in	51,203,562 thousand)
		(5,350,540)
Excise duty Net sales 16 Royalty and additional wellhead charge 17 Operating and administrative expenses Exploration and prospecting expenditure Finance cost Other charges Other income Finance income Share of profit / (loss) in associate 12.1 Profit before taxation Provision for taxation 18		(555,791)
		(5,906,331)
		45,297,231
		(5,521,601) (8,029,676) (3,001,054) (834,582) (2,057,242)
		(19,444,155)
		25,853,076 119,312 3,365,485 (209,186)
		29,128,687 (9,900,921)
Profit for the period Earnings per share - basic and diluted Earnings per ordinary share (Rupees) 19	15,640,178 13.03
		19,227,766
		16.01

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Managing Director / CEO

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Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

	Three months	period ended
	30.09.2025	30.09.2024
Note Profit for the period Effect of translation of investment in a foreign associate 12.1 Income tax effect related to translation of investment in a foreign associate - deferred tax credit Total comprehensive income for the period loss: Items that will be subsequently reclassified to profit or Other comprehensive loss:	15,640,178 (101,857) 25,464 (76,393) 15,563,785 (Rupees in	19,227,766 thousand)
		(28,305) -
		(28,305)
		19,199,461

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Abid Niaz Hasan Lt Gen Anwar Ali Hyder Managing Director / CEO Director HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025
	Share capital		Other reserves		Unappropriated profit	Total
		Capital redemption reserve fund	Self insurance reserve	Foreign currency translation reserve
			(Rupees in thousand)
Balance as at July 01, 2024 (Audited) Total comprehensive income for the period: Profit for the period Other comprehensive loss	1,334,025	10,590,001	4,600,000	2,002,507	206,381,187	224,907,720
	- -	- -	- -	- (28,305)	19,227,766 -	19,227,766 (28,305)
	-	-	-	(28,305)	19,227,766	19,199,461
Issuance of bonus shares *	10,672,200	(10,590,001)	-	-	(82,199)	-
Final cash dividend for the year ended June 30, 2024 @ Rs 134.00 per share Balance as at September 30, 2024 (Un-Audited)* Total comprehensive income for the period:	-	-	-	-	(17,875,935)	(17,875,935)
	12,006,225	-	4,600,000	1,974,202	207,650,819	226,231,246
Profit for the period	-	-	-	-	45,908,650	45,908,650
Other comprehensive loss	-	-	-	(289,957)	(195,884)	(485,841)
	-	-	-	(289,957)	45,712,766	45,422,809
Balance as at June 30, 2025 (Audited)	12,006,225	-	4,600,000	1,684,245	253,363,585	271,654,055

Total comprehensive income for the period:
Profit for the period	-	-	-	-	15,640,178	15,640,178
Other comprehensive loss	-	-	-	(76,393)	-	(76,393)
	-	-	-	(76,393)	15,640,178	15,563,785
Final cash dividend for the year ended June 30, 2025 @ Rs 21.7 per share *	-	-	-	-	(26,053,508)	(26,053,508)
Balance as at September 30, 2025 (Un-Audited) * Distribution to owners - recorded directly in equity
	12,006,225	-	4,600,000	1,607,852	242,950,255	261,164,332

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

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Nabeel Rasheed Chief Financial Officer

Faheem Haider Managing Director / CEO

Abid Niaz Hasan

Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Note Cash flows from operating activities Cash receipts from customers Cash paid to the Government for Government levies Cash paid to suppliers, employees and others - net Income tax paid Cash generated from operating activities Cash flows from investing activities Property, plant and equipment Development and production assets Exploration and evaluation assets Proceeds from disposal of property, plant and equipment Investment in wholly owned subsidiary - MariMinerals Income on mutual funds Interest received Cash utilized in investing activities Cash flows from financing activities Repayment of long term financing Redemption of preference shares Finance cost paid Lease rentals paid - net Dividend paid Cash utilized in financing activities (Decrease) / increase in cash and cash equivalents Cash and cash equivalents at beginning of the period Effect of exchange rate changes Cash and cash equivalents at end of the period 20	Three monthsperiod ended	Three monthsperiod ended
	30.09.2025 30.09.2024 61,242,544 62,841,488 (37,922,034) (19,843,996) (9,570,390) (12,527,614) (671,429) (3,594,884) 13,078,691 26,874,994 (1,238,309) (1,090,891) (8,336,665) (6,969,122) (563,006) (1,018,958) 11,515 114 - (400,000) 942,567 1,313,488 898,534 2,090,440 (8,285,364) (6,074,929) (31,250) (31,250) - (197) (7,475) (10,734) (345,068) - (25,682,834) (17,732,625) (26,066,627) (17,774,806) (21,273,300) 3,025,259 76,925,672 74,886,288 (57,338) (42,051) 55,595,034 77,869,496 (Rupees in thousand)	30.09.2024
		26,874,994
		(1,090,891) (6,969,122) (1,018,958) 114 (400,000) 1,313,488 2,090,440
		(6,074,929)
		(31,250) (197) (10,734) - (17,732,625)
		(17,774,806)
		3,025,259 74,886,288 (42,051)
		77,869,496

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Abid Niaz Hasan Managing Director / CEO Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

1. LEGAL STATUS AND OPERATIONS

Mari Energies Limited "MariEnergies or the Company" is a public limited company incorporated in Pakistan on December 4, 1984 under the repealed Companies Ordinance, 1984 (replaced by the Companies Act, 2017). The shares of the Company are listed on the Pakistan Stock Exchange Limited. The Company is principally engaged in exploration, production and sale of hydrocarbons. The registered office of the Company is situated at 21 Mauve Area, 3rd Road, G-10/4, Islamabad.

2. BASIS OF PREPARATION

2.1 These condensed interim financial statements of the Company for the three months period ended September 30, 2025 have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of International Accounting Standard (IAS) 34 'Interim Financial Reporting', issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017 and provisions of and directives issued under the Companies Act, 2017. Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.
2.2 These condensed interim financial statements are un-audited and are being submitted to the members as required under Section 237 of the Companies Act, 2017 and Rule Book of Pakistan Stock Exchange Limited.
2.3 The disclosures in these condensed interim financial statements do not include all the information and disclosures reported in the annual audited financial statements and should therefore be read in conjunction with the audited financial statements of the Company for the year ended June 30, 2025.
2.4 These condensed interim financial statements are the separate condensed interim financial statements of the Company in which investment in subsidiary is accounted for at cost less accumulated impairment, if any. Consolidated condensed interim financial statements are prepared separately.

2.5 Exemption from application of Expected Credit Losses model

The Securities and Exchange Commission of Pakistan (SECP) through S.R.O. 1784(I)/2024 dated November 4, 2024 has notified that in respect of companies holding financial assets due or ultimately due from the Government of Pakistan (GoP) in respect of circular debt, the requirements contained in IFRS 9 'Financial Instruments' with respect to application of Expected Credit Losses (ECL) model shall not be applicable for financial years ending on or before December 31, 2025, provided that such companies shall follow relevant requirements of IAS 39 ‘Financial Instruments: Recognition and Measurement’ in respect of above referred financial assets during the exemption period. Effective July 1, 2025, the industry has opted to apply the exemption from SECP. The approval is currently pending and is expected to be received in due course.

Consequently, the Company has not recorded impact of application of ECL model on the financial assets due directly/ultimately from the GoP in these condensed interim financial statements.

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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3. ACCOUNTING POLICIES, SIGNIFICANT ACCOUNTING ESTIMATES, ASSUMPTIONS AND JUDGEMENTS

3.1 The preparation of these condensed interim financial statements in conformity with the approved accounting standards as applicable in Pakistan for interim financial reporting requires management to make estimates, assumptions and apply judgments that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Estimates, assumptions and judgments are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Revision to accounting estimates are recognized from the period of revision.
3.2 The accounting policies adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the audited financial statements for the year ended June 30, 2025.
3.3 The estimates, assumptions and judgments made in the preparation of these condensed interim financial statements are substantially the same as those applied in the preparation of the audited financial statements for the year ended June 30, 2025. The management also believes that standards, amendments to published standards and interpretations that are effective for the Company from accounting periods beginning on or after July 1, 2025 do not have any significant effect on these condensed interim financial statements or are not relevant to the Company.

4. SHARE CAPITAL Authorized capital Issued, subscribed and paid up capital 24,850,007 (June 30, 2025: 24,850,007) ordinary shares of Rs 10 each issued for cash 11,899,993 (June 30, 2025: 11,899,993) ordinary shares of Rs 10 each issued for consideration other than cash 1,163,872,500 (June 30, 2025: 1,163,872,500) ordinary shares of Rs 10 each issued as bonus shares 17,000,000,000 (June 30, 2025: 17,000,000,000) ordinary shares of Rs 10 each	(Un-Audited) 30.09.2025 170,000,000 248,500 119,000 11,638,725 12,006,225 (Rupees in	(Audited) 30.06.2025
		170,000,000 thousand)
		248,500 119,000 11,638,725
		12,006,225

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5. LEASE LIABILITIES 6. DEFERRED LIABILITIES Provision for decommissioning cost Provision for employee benefits - unfunded 7. TRADE AND OTHER PAYABLES Creditors Accrued liabilities Joint operating partners Retention money and performance bonds payable Management and Non-Management Gratuity Fund Provident fund Gas Development Surcharge Excise duty Royalty and additional wellhead charge Workers' Welfare Fund Workers' Profit Participation Fund Others Balance at the beginning of the period / year Addition during the period / year Unwinding of interest during the period / year Balance at end of the period / year Less: Current portion classified under current liabilities Payments made during the period / year Exchange (gain) / loss during the period / year	(Un-Audited) 30.09.2025 9,271,379 184,254 (613,078) 242,795 (24,510) 9,060,840 (3,597,642) 5,463,198 (Un-Audited) 30.09.2025 32,727,688 1,505,003 34,232,691 319,820 24,009,365 1,953,711 1,012,761 135,818 76,605 2,972,091 - 4,925,760 902,724 1,036,815 1,356,086 38,701,556 (Rupees in (Rupees in Three months ended	(Audited) Year ended 30.06.2025
		- 9,272,412 (334,513) 262,777 70,703 thousand)
		9,271,379 (3,103,249)
		6,168,130
		(Audited) 30.06.2025
		31,312,631 1,591,407 thousand)
		32,904,038
		696,197 26,541,612 1,743,347 1,101,643 - - 3,007,762 41,974 15,633,331 734,069 - 907,354
		50,407,289

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7.1 Gas Development Surcharge (GDS), Gas Infrastructure Development Cess (GIDC) and their related sales tax amounting to Rs 150,560,524 thousand (June 30, 2025: Rs 150,251,863 thousand) are not reflected in these condensed interim financial statements in accordance with the accounting guidance issued by the Institute of Chartered Accountants of Pakistan (ICAP) through Circular no. 1/2021 dated January 21, 2021, whereby, these are recorded as payables to the extent that they are received from customers and are to be deposited with GoP as per their respective rules and regulations.

On August 13, 2020, the Supreme Court of Pakistan has decided the matter of GIDC, which has restrained the charging of GIDC from August 1, 2020 onwards and ordered gas consumers to pay GIDC arrears due up to July 31, 2020 in installments. The fertilizer companies have obtained stay orders against recovery from the Sindh High Court, where the matter is subjudice.

8. CONTINGENCIES AND COMMITMENTS

8.1 Contingencies

a) The Company is currently defending multiple cases in Pakistan relating to its routine business activities. Based on review by legal counsel appointed for each case, it is expected that the outcomes will favor the Company. Consequently, no provisions and/or disclosure have been made in these condensed interim financial statements.
b) The Company has given corporate guarantees to the GoP under various Petroleum Concession Agreements (PCAs) for the performance of obligations.
c) As part of the investment arrangement in Pakistan International Oil Limited (PIOL), a related party, each of the consortium partners including MariEnergies has also provided, joint and several, parent company guarantees to Abu Dhabi National Oil Company, Abu Dhabi Company for Offshore Petroleum Operations Limited and Supreme Council for Financial and Economic Affairs Abu Dhabi, UAE, to guarantee the obligations of PIOL.

8.2 a) Commitments for capital expenditure: Wholly owned Joint operations b) The Company’s share in outstanding minimum work commitments, other than capital commitments included in 'a' above, under various PCAs aggregating to US$ 85.17 million (June 30, 2025: US$ 85.91 million) Commitments	(Un-Audited) 30.09.2025 9,382,753 11,237,552 20,620,305 24,009,423 (Rupees in	(Audited) 30.06.2025
		4,311,938 5,242,546 thousand)
		9,554,484
		24,342,599

c) As part of the Shareholders Agreement with the consortium partners in PIOL, the Company has committed to invest up to US$ 100 million in PIOL during five years from August 31, 2021, out of which US$ 85 million have been invested up to September 30, 2025 (June 30, 2025: US$ 85 million). The remaining amount of US$ 15 million (equivalent Rs 4,229 million) will be invested in subsequent periods / years.

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			(Un-Audited)	(Audited)
			Year ended Three months ended
			30.09.2025	30.06.2025
		Note	(Rupees in thousand)
9.	PROPERTY, PLANT AND EQUIPMENT
	Opening carrying value		111,738,172	97,355,350
	Movement during the period / year:
	Additions	9.2	1,432,992	23,750,773
	Revision due to change in estimates of provision for
	decommissioning cost		-	(658,503)
	Net book value of disposals		(170)	(101,279)
	Depreciation charge		(2,206,944)	(8,608,169)
			(774,122)	14,382,822
	Closing carrying value		110,964,050	111,738,172
9.1	Property, plant and equipment comprises:
	Operating assets - owned assets		71,433,485	70,950,211
	Operating assets - right-of-use assets		6,606,219	6,603,166
	Capital work in progress		11,362,381	12,711,652
	Stores and spares held for capital expenditure		21,561,965	21,473,143
			110,964,050	111,738,172
9.2	It includes additions amounting to Rs Nil (year ended June 30, 2025: Rs 1,661,688 thousand) on account of
	provision for decommissioning cost.
			(Un-Audited)	(Audited)
			Year ended Three months ended
			30.09.2025	30.06.2025
		Note	(Rupees in thousand)
10.	DEVELOPMENT AND PRODUCTION ASSETS
	Opening carrying value		61,803,417	35,118,195
	Movement during the period / year:
	Additions	10.1	9,027,616	24,484,318
	Transferred from exploration and evaluation assets	11	-	12,440,321
	Revision due to change in estimates of provision for
	decommissioning cost		-	(2,030,774)
	Amortization charge		(1,758,409)	(8,208,643)
			7,269,207	26,685,222
	Closing carrying value		69,072,624	61,803,417

10.1 It includes additions amounting to Rs 590,883 thousand (year ended June 30, 2025: Rs 2,596,085 thousand) on account of provision for decommissioning cost.

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Note 11. EXPLORATION AND EVALUATION ASSETS Opening carrying value Movement during the period / year: Additions 11.1 Transferred to development and production assets 10 Reversal of impairment loss Cost of dry and abandoned wells Closing carrying value Revision due to change in estimates of provision for decommissioning cost	(Un-Audited) 30.09.2025 22,159,867 665,964 - - - - 665,964 22,825,831 (Rupees in Three months ended	(Audited) Year ended 30.06.2025
		25,532,040 thousand)
		11,068,000 (12,440,321) 5,245 196,436 (2,201,533)
		(3,372,173)
		22,159,867

11.1 Note 12. LONG TERM INVESTMENTS Investment in related parties Associate (Un-quoted) 12.1 Wholly owned subsidiaries (Un-quoted): - Mari Minerals (Private) Limited (MariMinerals) - Mari Technologies Limited (MariTechnologies) Term Finance Certificates (TFCs) (Quoted) - at fair value through profit or loss 12.1 Opening carrying value Movement during the period / year: Cost of investment Share of profit Effect of translation of investment Closing carrying value - at equity method It includes additions amounting to Rs Nil (year ended June 30, 2025: Rs for decommissioning cost. Pakistan International Oil Limited - foreign operation Investment in related party - associate (Un-quoted)	(Un-Audited) 30.09.2025 (Rupees in 19,810,140 2,500,000 10,000,000 12,500,000 195,404 32,505,544 (Un-Audited) 30.09.2025 (Rupees in 19,877,835 - 34,162 (101,857) (67,695) 19,810,140 754,833 thousand) on Three months ended	(Audited) 30.06.2025 account of provision
		thousand) 19,877,835
		2,500,000 10,000,000
		12,500,000 188,779
		32,566,614
		(Audited) Year ended 30.06.2025
		thousand) 12,306,218
		7,037,250 291,214 243,153
		7,571,617
		19,877,835

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		(Un-Audited)	(Audited)
		Three months ended	Year ended
		30.09.2025	30.06.2025
13.	RIGHT-OF-USE ASSET RECEIVABLE FROM JOINT	(Rupees in thousand)
	OPERATING PARTNERS
	Balance at beginning of the period / year	4,172,121	-
	Addition during the period / year	-	4,172,586
	Payments received during the period / year	(268,010)	(150,531)
	Unwinding of interest during the period / year	107,138	118,249
	Exchange (loss) / gain during the period / year	(11,030)	31,817
	Balance at end of the period / year	4,000,219	4,172,121
	Less: Current portion classified under current assets	(1,605,806)	(1,396,462)
		2,394,413	2,775,659
		(Un-Audited)	(Audited)
		30.09.2025	30.06.2025
14.	TRADE DEBTS	(Rupees in thousand)
	Due from associated companies and related parties - considered good	81,860,710	80,445,969
	Due from others - considered good	4,036,896	6,135,742
		85,897,606	86,581,711
14.1	As detailed in note 7.1 to these condensed interim financial statements, GDS, GIDC and their related sales tax billed to
	customers but not received are not included in these condensed interim financial statements.
		(Un-Audited)	(Audited)
		30.09.2025	30.06.2025
15.	SHORT TERM LOANS AND ADVANCES	(Rupees in thousand)
	Considered good
	Current portion of long term loans and advances	56,587	57,874
	Advances to employees against expenses	203,196	191,487
	Advances to suppliers, contractors and deposits for LC margin	3,114,501	2,241,173
	Receivables from joint operating partners	3,156,887	3,805,168
	Workers' Profit Participation Fund	-	174,614
		6,531,171	6,470,316
		Three months period ended
		30.09.2025	30.09.2024
		(Rupees in thousand)
16.	NET SALES
	Product wise breakup of net sales is as follows:
	Natural gas	43,674,655	43,402,194
	Crude oil	1,673,264	1,895,037
	Liquefied Petroleum Gas (LPG)	3,314	-
		45,351,233	45,297,231

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			Three months	period ended
			30.09.2025	30.09.2024
		Note	(Rupees in	thousand)
17.	ROYALTY AND ADDITIONAL WELLHEAD CHARGE
	Royalty		5,505,842	5,521,601
	Additional wellhead charge	17.1	5,768,321	-
			11,274,163	5,521,601
17.1	This represents additional 15% of wellhead value payable to the Federal Government on petroleum			produced from Mari
	Development and Production Lease with effect from November 11, 2024 following		renewal of the said lease, in accordance
	with rule 35 of the Pakistan Onshore Petroleum (Exploration and Production) Rules,		2013.
			Three months	period ended
			30.09.2025	30.09.2024
			(Rupees in	thousand)
18.	PROVISION FOR TAXATION
	Current tax - charge for the period		2,827,017	5,309,378
	Deferred tax - charge for the period		4,584,116	4,591,543
			7,411,133	9,900,921
			Three months	period ended
			30.09.2025	30.09.2024
19.	EARNINGS PER SHARE - BASIC AND DILUTED
	Profit for the period (Rupees in thousand)		15,640,178	19,227,766
	Number of ordinary shares outstanding (in thousand)		1,200,623	1,200,623
	Earnings per ordinary share (in Rupees)		13.03	16.01
	There is no dilutive effect on the basic earnings per	ordinary share of the Company.
			30.09.2025	30.09.2024
			(Rupees in	thousand)
20.	CASH AND CASH EQUIVALENTS
	Cash and bank balances		25,521,474	44,194,780
	Short term investments		30,073,560	33,674,716
			55,595,034	77,869,496

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21. TRANSACTIONS AND BALANCES WITH RELATED PARTIES AND ASSOCIATED COMPANIES

The related parties of the Company comprise of entities having significant influence over the Company and entities controlled by such entities, subsidiaries, associates, employees' retirement funds and key management personnel. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company. The Company considers its Directors, MD/CEO, senior managers and above to be key management personnel. Associated companies have been identified in accordance with the requirements of the Companies Act, 2017. Transactions and balances with related parties and associated companies, other than below, have been disclosed in relevant notes to these condensed interim financial statements.

The Company, in the normal course of business, pays for utilities and makes regulatory payments to entities controlled by GoP which are either disclosed in respective notes to these condensed interim financial statements or are collectively, but not individually, significant to these condensed interim financial statements.

Name and nature of relationship	Nature of transaction	30.09.2025 30.09.2024 10,334,558 7,090,788 191,534 212,638 5,167,279 3,545,394 67,137 88,666 32,093 - - 32,141 5,207,196 3,572,781 18,575,207 18,223,970 1,556,411 1,917,292 35,220 42,491 3,377 27,397 353,711 20,836 79,421 12,655 Transactions for the three months period ended (Rupees in thousand)	30.09.2025 30.09.2024 10,334,558 7,090,788 191,534 212,638 5,167,279 3,545,394 67,137 88,666 32,093 - - 32,141 5,207,196 3,572,781 18,575,207 18,223,970 1,556,411 1,917,292 35,220 42,491 3,377 27,397 353,711 20,836 79,421 12,655 Transactions for the three months period ended (Rupees in thousand)
			7,090,788 212,638 3,545,394 88,666 - 32,141 3,572,781 18,223,970 1,917,292 42,491 27,397 20,836 12,655 thousand)

		568,163 10,174,614 187,365 1,512,825 550 3,932 219,491 955 237,574	785,754 9,744,546 8,285 1,500,658 7,921 - 416,642 35,661 413,846

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Name and nature of relationship	Nature of transaction	30.09.2025 30.09.2024 Transactions for the three months period ended (Rupees in thousand)	30.09.2025 30.09.2024 Transactions for the three months period ended (Rupees in thousand)
			thousand)
		- 32,141 586,248 - - 32,141 6,719 4,873 501,076 493,897 62,274 50,319 2,564 - 65,314 - 41,216 - 4,757 - 35,937 - - 298 30.09.2025 30.06.2025 Balance as at
		386,261 299,416 14,732 121,229 193,132 149,709 498,879 358,958 1,204,945 1,465,608 3,111,281 3,244,983 209,800 357,644 67,137 - 43,503 55,147 (Rupees in thousand)

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Name and nature of relationship	Nature of balance	30.09.2025 30.06.2025 Balance as at
		69,067,033 67,291,712 1,761 33,130 9,435,249 9,859,612 187,545 144,854 20,848 6,194 2,701 1,446 351,579 254,654 79,264 101,286 19,898,273 23,091,614 126,413 250,070 1,766,396 1,771,937 - 90,833 278,594 50,486 1,149,289 1,100,852 - 407 9,199 64,470 39,357 117,094 32,436 7,814 91,018 62,789 4,753,303 7,469,835 84,776 16,328 4,579,029 10,784,455 473 3,735 193,333 108,913 1,424,834 1,659,377 - 213 689,680 656,537 122,170 93,940 - 53,438 2,564 250 - 33,290 87,275 136,422 5,437 2,111 (Rupees in thousand)

These entities are also associated entities by virtue of common directorship.

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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22. FINANCIAL RISK MANAGEMENT AND FAIR VALUE MEASUREMENT

The Company’s financial risk management objectives and policies are consistent with those disclosed in the audited financial statements for the year ended June 30, 2025. There is no change in the nature and corresponding hierarchies of fair value levels of financial instruments from those as disclosed in the audited financial statements for the year ended June 30, 2025. The carrying values of financial assets and liabilities approximate their fair values as of September 30, 2025 except for financial assets due directly/ultimately from GoP for which ECL model has not been applied as mentioned in note 2.5 to these condensed interim financial statements.

The Company has the following financial assets at fair value:

September 30, 2025 Short term investments Long term investments June 30, 2025 Short term investments Long term investments	Level 1 23,273,470 195,404 23,468,874 35,048,676 188,779 35,237,455	Level 2 Level 3 - - - - - - - - - - - - (Rupees in thousand)	Total 23,273,470 195,404
			23,468,874
			35,048,676 188,779
			35,237,455

23. GENERAL

23.1 Revenue from major customers constitutes 96% of the total revenue during the three months period ended September 30, 2025 (three months period ended September 30, 2024: 96%).
23.2 These condensed interim financial statements have been authorized for issue by the Board of Directors of the Company on October 30, 2025.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Managing Director / CEO

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Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

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MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025

(Un-Audited)	(Audited)	(Un-Audited)	(Audited)
30.09.2025		30.09.2025	30.06.2025
12,006,225 6,207,852 243,336,005	12,006,225 Property, plant and equipment 9 6,284,245 Development and production assets 10 253,596,047 Exploration and evaluation assets 11 271,886,517 Long term investments 12 Right-of-use asset receivable from joint 2,012,282 operating partners 13 Long term loans and advances 273,898,799 Long term deposits and prepayments CURRENT ASSETS 508,959 6,314,296 Stores and spares 32,904,038 Trade debts 14 43,133,086 Short term loans and advances 15 82,860,379 Short term prepayments Other receivables Current portion of right-of-use asset 51,098,733 receivable from joint operating partners 13 147,570 Short term investments 3,129,170 Interest accrued 696,411 Cash and bank balances 13,627,071 68,698,955 Asset classified as held for sale 151,559,334	115,077,389 69,072,624 23,657,590 20,006,044 2,394,413 59,550 204,111	114,118,230 61,803,417 22,669,369 20,066,614 2,775,659 66,806 146,253
261,550,082 5,004,658
266,554,740
		230,471,721	221,646,348
489,425 5,463,198 34,232,691 47,704,419	508,959 6,314,296 32,904,038 43,133,086
		13,634,562 85,897,606 6,532,470 875,389 5,947,078 1,605,806 41,532,032 177,885 27,437,990	12,681,811 86,581,711 6,470,316 257,820 6,375,200 1,396,462 43,904,612 268,098 45,155,755
87,889,733
39,056,218 144,999 3,597,642 1,067,085 15,802,122	51,098,733 147,570 3,129,170 696,411 13,627,071
		183,640,818 -	203,091,785 720,000
59,668,066
147,557,799
	425,458,133 TOTAL ASSETS
414,112,539		414,112,539	425,458,133

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Managing Director / CEO

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Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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Chairman
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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Note Gross sales General sales tax	Three months	period ended
	30.09.2025	30.09.2024
	51,409,648 (5,504,092) (554,323) (6,058,415) 45,351,233 (11,274,163) (8,505,532) (2,212,059) (976,620) (1,380,084) (24,348,458) 21,002,775 221,131 2,011,664 34,162 23,269,732 (7,445,128) 15,824,604 (Rupees in	51,203,562 thousand)
		(5,350,540)
Excise duty Net sales 16 Royalty and additional wellhead charge 17 Operating and administrative expenses Exploration and prospecting expenditure Finance cost Other charges Other income Finance income Share of profit / (loss) in associate 12.1 Profit before taxation Provision for taxation 18 Profit for the period		(555,791)
		(5,906,331)
		45,297,231
		(5,521,601) (8,067,085) (3,001,054) (834,582) (2,057,242)
		(19,481,564)
		25,815,667 119,312 3,376,142 (209,186)
		29,101,935 (9,900,921)
		19,201,014
Attributable to: Equity holders of Mari Energies Limited Non-controlling interests Earnings per share - basic and diluted Earnings per ordinary share (Rupees) 19	15,793,466 31,138 15,824,604 13.15	19,201,014 -
		19,201,014
		15.99

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Managing Director / CEO

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Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025
	Three months	period ended
	30.09.2025	30.09.2024
Note Profit for the period Effect of translation of investment in a foreign associate 12.1 Income tax effect related to translation of investment in a foreign associate - deferred tax credit Total comprehensive income for the period Attributable to: Equity holders of Mari Energies Limited Non-controlling interests loss: Items that will be subsequently reclassified to profit or Other comprehensive loss:	15,824,604 (101,857) 25,464 (76,393) 15,748,211 15,717,073 31,138 15,748,211 (Rupees in	19,201,014 thousand)
		(28,305) -
		(28,305)
		19,172,709
		19,172,709 -
		19,172,709

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

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Nabeel Rasheed Chief Financial Officer

Faheem Haider Managing Director / CEO

Abid Niaz Hasan Lt Gen Anwar Ali Hyder Director HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025
	Share capital		Other reserves		Unappropriated profit	Total	Non-controlling interests	Total equity
		Capital redemption reserve fund	Self insurance reserve	Foreign currency translation reserve
			(Rupees in thousand)
Balance as at July 01, 2024 (Audited) Total comprehensive income for the period: Profit for the period Other comprehensive loss	1,334,025	10,590,001	4,600,000	2,002,507	206,381,133	224,907,666	-	224,907,666
	- -	- -	- -	- (28,305)	19,201,014 -	19,201,014 (28,305)	- -	19,201,014 (28,305)
	-	-	-	(28,305)	19,201,014	19,172,709	-	19,172,709
Issuance of bonus shares *	10,672,200	(10,590,001)	-	-	(82,199)	-	-	-
Final cash dividend for the year ended June 30, 2024 @ Rs 134.00 per share Balance as at September 30, 2024 (Un-Audited)* Total comprehensive income for the period:	-	-	-	-	(17,875,935)	(17,875,935)	-	(17,875,935)
	12,006,225	-	4,600,000	1,974,202	207,624,013	226,204,440	-	226,204,440
Profit for the period	-	-	-	-	46,167,918	46,167,918	12,282	46,180,200
Other comprehensive loss interests Share capital of a subsidiary, SKY47 Limited, subscribed by non-controlling	-	-	-	(289,957)	(195,884)	(485,841)	-	(485,841)
	- -	- -	- -	(289,957) -	45,972,034 -	45,682,077 -	12,282 2,000,000	45,694,359 2,000,000
Balance as at June 30, 2025 (Audited)	12,006,225	-	4,600,000	1,684,245	253,596,047	271,886,517	2,012,282	273,898,799

Total comprehensive income for the period:
Profit for the period Other comprehensive loss	-	-	-	-	15,793,466	15,793,466	31,138	15,824,604
	-	-	-	(76,393)	-	(76,393)	-	(76,393)
	-	-	-	(76,393)	15,793,466	15,717,073	31,138	15,748,211
Final cash dividend for the year ended June 30, 2025 @ Rs 21.7 per share *	-	-	-	-	(26,053,508)	(26,053,508)	-	(26,053,508)
interests Balance as at September 30, 2025 (Un-Audited) Share capital of a subsidiary, SKY47 Limited, subscribed by non-controlling	-	-	-	-	-	-	2,961,238	2,961,238
	12,006,225	-	4,600,000	1,607,852	243,336,005	261,550,082	5,004,658	266,554,740

Distribution to owners - recorded directly in equity

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

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Nabeel Rasheed Chief Financial Officer

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Faheem Haider Managing Director / CEO

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Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Note Cash flows from operating activities Cash receipts from customers Cash paid to the Government for Government levies Cash paid to suppliers, employees and others - net Income tax paid Cash generated from operating activities Cash flows from investing activities Property, plant and equipment Development and production assets Exploration and evaluation assets Proceeds from disposal of property, plant and equipment Investment in associates Proceeds from disposal of asset classified as held for sale Income on mutual funds Interest received Cash utilized in investing activities Cash flows from financing activities Repayment of long term financing Redemption of preference shares Finance cost paid Subscription of shares of a subsidiary by non-controlling interests Lease rentals paid - net Bank balances under lien Dividend paid Cash utilized in financing activities (Decrease) / increase in cash and cash equivalents Cash and cash equivalents at beginning of the period Effect of exchange rate changes Cash and cash equivalents at end of the period 20	Three monthsperiod ended	Three monthsperiod ended
	30.09.2025 30.09.2024 61,242,544 62,841,488 (37,922,034) (19,843,996) (9,897,372) (12,562,347) (715,005) (3,595,576) 12,708,133 26,839,569 (3,124,798) (1,090,891) (8,336,665) (6,969,122) (1,075,135) (1,018,958) 11,515 114 (500) - 720,000 - 993,291 1,313,488 1,176,541 2,095,053 (9,635,751) (5,670,316) (31,250) (31,250) - (197) (7,475) (10,734) 2,961,238 - (345,068) - (2,000) - (25,682,834) (17,732,625) (23,107,389) (17,774,806) (20,035,007) 3,394,447 88,794,367 74,886,395 (57,338) (42,051) 68,702,022 78,238,791 (Rupees in thousand)	30.09.2024
		26,839,569
		(1,090,891) (6,969,122) (1,018,958) 114 - - 1,313,488 2,095,053
		(5,670,316)
		(31,250) (197) (10,734) - - - (17,732,625)
		(17,774,806)
		3,394,447 74,886,395 (42,051)
		78,238,791

The annexed notes 1 to 23 form an integral part of these condensed interim consolidated financial statements.

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Nabeel Rasheed Chief Financial Officer

Faheem Haider Managing Director / CEO

Abid Niaz Hasan Director

Lt Gen Anwar Ali Hyder

HI(M), (Retd) Chairman

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

1. LEGAL STATUS AND OPERATIONS

Mari Energies Limited (the Group) comprises of Mari Energies Limited (MariEnergies or the Holding Company), its wholly owned subsidiaries, Mari Minerals (Private) Limited (MariMinerals) and Mari Technologies Limited (MariTechnologies), and its subsidiary, SKY47 Limited (SKY47). SKY47 is a subsidiary of MariEnergies through MariTechnologies with sixty percent shareholding. MariEnergies is a public limited company incorporated in Pakistan on December 4, 1984 under the repealed Companies Ordinance, 1984 (replaced by the Companies Act, 2017) and its shares are listed on the Pakistan Stock Exchange Limited.

The Group, through its Holding Company, is principally engaged in exploration, production and sale of hydrocarbons. Additionally, the Group, through its subsidiaries, is principally engaged in mineral mining activities and the establishment and running of data centers, cloud computing, artificial intelligence and other new technologies. The registered office of the Holding Company and its subsidiaries is situated at 21 Mauve Area, 3rd Road, G-10/4, Islamabad.

2. BASIS OF PREPARATION

2.1 These condensed interim consolidated financial statements of the Group for the three months period ended September 30, 2025 have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of International Accounting Standard (IAS) 34 'Interim Financial Reporting', issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017 and provisions of and directives issued under the Companies Act, 2017. Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.
2.2 These condensed interim consolidated financial statements are un-audited and are being submitted to the members as required under Section 237 of the Companies Act, 2017 and Rule Book of Pakistan Stock Exchange Limited.
2.3 The disclosures in these condensed interim consolidated financial statements do not include all the information and disclosures reported in the annual audited consolidated financial statements and should therefore be read in conjunction with the audited consolidated financial statements of the Group for the year ended June 30, 2025.

2.4 Exemption from application of Expected Credit Losses model

Consequently, the Group has not recorded impact of application of ECL model on the financial assets due directly/ultimately from the GoP in these condensed interim consolidated financial statements.

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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3. ACCOUNTING POLICIES, SIGNIFICANT ACCOUNTING ESTIMATES, ASSUMPTIONS AND JUDGEMENTS

3.1 The preparation of these condensed interim consolidated financial statements in conformity with the approved accounting standards as applicable in Pakistan for interim financial reporting requires management to make estimates, assumptions and apply judgments that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Estimates, assumptions and judgments are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Revision to accounting estimates are recognized from the period of revision.
3.2 The basis of consolidation and accounting policies adopted in the preparation of these condensed interim consolidated financial statements are the same as those applied in the preparation of the audited consolidated financial statements for the year ended June 30, 2025.
3.3 The estimates, assumptions and judgments made in the preparation of these condensed interim consolidated financial statements are substantially the same as those applied in the preparation of the audited consolidated financial statements for the year ended June 30, 2025. The management also believes that standards, amendments to published standards and interpretations that are effective for the Group from accounting periods beginning on or after July 1, 2025 do not have any significant effect on these condensed interim consolidated financial statements or are not relevant to the Group.

4. SHARE CAPITAL Authorized capital Issued, subscribed and paid up capital 24,850,007 (June 30, 2025: 24,850,007) ordinary shares of Rs 10 each issued for cash 11,899,993 (June 30, 2025: 11,899,993) ordinary shares of Rs 10 each issued for consideration other than cash 1,163,872,500 (June 30, 2025: 1,163,872,500) ordinary shares of Rs 10 each issued as bonus shares 17,000,000,000 (June 30, 2025: 17,000,000,000) ordinary shares of Rs 10 each	(Un-Audited) 30.09.2025 170,000,000 248,500 119,000 11,638,725 12,006,225 (Rupees in	(Audited) 30.06.2025
		170,000,000 thousand)
		248,500 119,000 11,638,725
		12,006,225

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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5. LEASE LIABILITIES 6. DEFERRED LIABILITIES Provision for decommissioning cost Provision for employee benefits - unfunded 7. TRADE AND OTHER PAYABLES Creditors Accrued liabilities Joint operating partners Retention money and performance bonds payable Management and Non-Management Gratuity Fund Provident fund Gas Development Surcharge Excise duty Royalty and additional wellhead charge Workers' Welfare Fund Workers' Profit Participation Fund Others Balance at the beginning of the period / year Additions during the period / year Unwinding of interest during the period / year Balance at end of the period / year Less: Current portion classified under current liabilities Payments made during the period / year Exchange (gain) / loss during the period / year	(Un-Audited) 30.09.2025 9,443,466 - (613,078) 254,962 (24,510) 9,060,840 (3,597,642) 5,463,198 (Un-Audited) 30.09.2025 32,727,688 1,505,003 34,232,691 457,777 24,087,595 1,953,711 1,012,761 135,818 76,605 2,972,091 - 4,925,760 902,724 1,036,815 1,494,561 39,056,218 (Rupees in (Rupees in Three months ended	(Audited) Year ended 30.06.2025
		- 9,443,714 (345,013) 274,062 70,703 thousand)
		9,443,466 (3,129,170)
		6,314,296
		(Audited) 30.06.2025
		31,312,631 1,591,407 thousand)
		32,904,038
		991,023 26,928,415 1,743,347 1,101,643 - - 3,007,762 41,974 15,633,331 734,069 - 917,169
		51,098,733

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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7.1 Gas Development Surcharge (GDS), Gas Infrastructure Development Cess (GIDC) and their related sales tax amounting to Rs 150,560,524 thousand (June 30, 2025: Rs 150,251,863 thousand) are not reflected in these condensed interim consolidated financial statements in accordance with the accounting guidance issued by the Institute of Chartered Accountants of Pakistan (ICAP) through Circular no. 1/2021 dated January 21, 2021, whereby, these are recorded as payables to the extent that they are received from customers and are to be deposited with GoP as per their respective rules and regulations.

8. CONTINGENCIES AND COMMITMENTS

8.1 Contingencies

a) The Group is currently defending multiple cases in Pakistan relating to its routine business activities. Based on review by legal counsel appointed for each case, it is expected that the outcomes will favor the Group. Consequently, no provisions and/or disclosure have been made in these condensed interim consolidated financial statements.
b) The Group has given corporate guarantees to the GoP under various Petroleum Concession Agreements (PCAs) for the performance of obligations.
c) As part of the investment arrangement in Pakistan International Oil Limited (PIOL), a related party, each of the consortium partners including MariEnergies has also provided, joint and several, parent company guarantees to Abu Dhabi National Oil Company, Abu Dhabi Company for Offshore Petroleum Operations Limited and Supreme Council for Financial and Economic Affairs Abu Dhabi, UAE, to guarantee the obligations of PIOL.
d) As at September 30, 2025, the Group, through Askari Bank Limited (related party), had issued letter of guarantee amounting to Rs 20 million (June 30, 2025: Rs 20 million) to Directorate General Mines & Minerals, Government of Balochistan for grant of two Exploration Licenses namely EL-322 and EL-323.

8.2 a) Commitments for capital expenditure: Wholly owned Joint operations b) The Group’s share in outstanding minimum work commitments, other than capital commitments included in 'a' above, under various PCAs aggregating to US$ 85.17 million (June 30, 2025: US$ 85.91 million) Commitments	(Un-Audited) 30.09.2025 23,430,300 11,237,552 34,667,852 24,009,423 (Rupees in	(Audited) 30.06.2025
		6,129,975 5,242,546 thousand)
		11,372,521
		24,342,599

c) As part of the Shareholders Agreement with the consortium partners in PIOL, the Holding Company has committed to invest up to US$ 100 million in PIOL during five years from August 31, 2021, out of which US$ 85 million have been invested up to September 30, 2025 (June 30, 2025: US$ 85 million). The remaining amount of US$ 15 million (equivalent Rs 4,229 million) will be invested in subsequent periods / years.

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			(Un-Audited)	(Audited)
			Year ended Three months ended
			30.09.2025	30.06.2025
		Note	(Rupees in thousand)
9.	PROPERTY, PLANT AND EQUIPMENT
	Opening carrying value		114,118,230	97,355,350
	Movement during the period / year:
	Additions	9.2	3,173,082	26,872,501
	Revision due to change in estimates of provision for
	decommissioning cost		-	(658,503)
	Net book value of disposals		(5,088)	(101,279)
	Asset classified as held for sale		-	(720,000)
	Depreciation charge		(2,208,835)	(8,629,839)
			959,159	16,762,880
	Closing carrying value		115,077,389	114,118,230
9.1	Property, plant and equipment comprises:
	Operating assets - owned assets		71,906,577	71,378,598
	Operating assets - right-of-use assets		6,606,219	6,754,483
	Capital work in progress		15,002,628	14,512,006
	Stores and spares held for capital expenditure		21,561,965	21,473,143
			115,077,389	114,118,230
9.2	It includes additions amounting to Rs Nil (year ended June 30, 2025: Rs 1,661,688 thousand) on account of
	provision for decommissioning cost.
			(Un-Audited)	(Audited)
			Year ended Three months ended
			30.09.2025	30.06.2025
		Note	(Rupees in thousand)
10.	DEVELOPMENT AND PRODUCTION ASSETS
	Opening carrying value		61,803,417	35,118,195
	Movement during the period / year:
	Additions	10.1	9,027,616	24,484,318
	Transferred from exploration and evaluation assets	11	-	12,440,321
	Revision due to change in estimates of provision for
	decommissioning cost		-	(2,030,774)
	Amortization charge		(1,758,409)	(8,208,643)
			7,269,207	26,685,222
	Closing carrying value		69,072,624	61,803,417

10.1 It includes additions amounting to Rs 590,883 thousand (year ended June 30, 2025: Rs 2,596,085 thousand) on account of provision for decommissioning cost.

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Note 11. EXPLORATION AND EVALUATION ASSETS Opening carrying value Movement during the period / year: Additions 11.1 Transferred to development and production assets 10 Reversal of impairment loss Cost of dry and abandoned wells Closing carrying value Revision due to change in estimates of provision for decommissioning cost	(Un-Audited) 30.09.2025 22,669,369 988,221 - - - - 988,221 23,657,590 (Rupees in Three months ended	(Audited) Year ended 30.06.2025
		25,532,040 thousand)
		11,577,502 (12,440,321) 5,245 196,436 (2,201,533)
		(2,862,671)
		22,669,369

11.1 It includes additions amounting to Rs Nil (year ended June 30, 2025: Rs 754,833 thousand) on account of provision for decommissioning cost.

Note 12. LONG TERM INVESTMENTS Investment in related parties - associate (Un-quoted) - Pakistan International Oil Limited 12.1 - Ammuri Minerals (Private) Limited 12.2 - Ammuri Resources (Private) Limited 12.2 Term Finance Certificates (TFCs) (Quoted) - at fair value through profit or loss 12.1 Opening carrying value Movement during the period / year: Cost of investment Share of profit Effect of translation of investment Closing carrying value - at equity method Investment in Pakistan International Oil Limited - foreign operation	(Un-Audited) 30.09.2025 (Rupees in 19,810,140 250 250 19,810,640 195,404 20,006,044 (Un-Audited) 30.09.2025 (Rupees in 19,877,835 - 34,162 (101,857) (67,695) 19,810,140 Three months ended	(Audited) 30.06.2025
		thousand) 19,877,835 - -
		19,877,835 188,779
		20,066,614
		(Audited) Year ended 30.06.2025
		thousand) 12,306,218
		7,037,250 291,214 243,153
		7,571,617
		19,877,835

12.2 During the period, two project companies namely Ammuri Minerals (Private) Limited and Ammuri Resources (Private) Limited, were incorporated on August 26, 2025. These companies are private limited companies incorporated in Pakistan under the Companies Act, 2017 and engaged in the business of mineral mining activities. MariMinerals' shareholding in each of these project companies is 25% (minus one share). The amount represents initial investment made by MariMinerals in these companies.

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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	(Un-Audited)	(Audited)
	Three months ended	Year ended
	30.09.2025	30.06.2025
13.	RIGHT-OF-USE ASSET RECEIVABLE FROM JOINT (Rupees in thousand)
	OPERATING PARTNERS
	4,172,121 Balance at beginning of the period / year	-
	- Addition during the period / year	4,172,586
	(268,010) Payments received during the period / year	(150,531)
	107,138 Unwinding of interest during the period / year	118,249
	(11,030) Exchange (loss) / gain during the period / year	31,817
	4,000,219 Balance at end of the period / year	4,172,121
	(1,605,806) Less: Current portion classified under current assets	(1,396,462)
	2,394,413	2,775,659
	(Un-Audited)	(Audited)
	30.09.2025	30.06.2025
14.	TRADE DEBTS (Rupees in thousand)
	Due from associated companies and related parties - considered good 81,860,710	80,445,969
	Due from others - considered good 4,036,896	6,135,742
	85,897,606	86,581,711
14.1	As detailed in note 7.1 to these condensed interim consolidated financial statements, GDS, GIDC and their related sales tax
	billed to customers but not received are not included in these condensed interim consolidated financial statements.
	(Un-Audited)	(Audited)
	30.09.2025	30.06.2025
15.	SHORT TERM LOANS AND ADVANCES (Rupees in thousand)
	Considered good
	Current portion of long term loans and advances 56,587	57,874
	Advances to employees against expenses 203,196	191,487
	Advances to suppliers, contractors and deposits for LC margin 3,115,800	2,241,173
	Receivables from joint operating partners 3,156,887	3,805,168
	Workers' Profit Participation Fund -	174,614
	6,532,470	6,470,316
	Three months period ended
	30.09.2025	30.09.2024
	(Rupees in thousand)
16.	NET SALES
	Product wise breakup of net sales is as follows:
	Natural gas 43,674,655	43,402,194
	Crude oil 1,673,264	1,895,037
	Liquefied Petroleum Gas (LPG) 3,314	-
	45,351,233	45,297,231

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			Three months	period ended
			30.09.2025	30.09.2024
		Note	(Rupees in	thousand)
17.	ROYALTY AND ADDITIONAL WELLHEAD CHARGE
	Royalty		5,505,842	5,521,601
	Additional wellhead charge	17.1	5,768,321	-
			11,274,163	5,521,601
17.1	This represents additional 15% of wellhead value payable to the Federal Government on petroleum			produced from Mari
	Development and Production Lease with effect from November 11, 2024 following renewal of the said lease, in accordance
	with rule 35 of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 2013.
			Three months	period ended
			30.09.2025	30.09.2024
			(Rupees in	thousand)
18.	PROVISION FOR TAXATION
	Current tax - charge for the period		2,848,331	5,309,378
	Deferred tax - charge for the period		4,596,797	4,591,543
			7,445,128	9,900,921
			Three months	period ended
			30.09.2025	30.09.2024
19.	EARNINGS PER SHARE - BASIC AND DILUTED
	Profit for the period attributable to equity holders of
	the Holding Company (Rupees in thousand)		15,793,466	19,201,014
	Number of ordinary shares outstanding (in thousand)		1,200,623	1,200,623
	Earnings per ordinary share (in Rupees)		13.15	15.99
	There is no dilutive effect on the basic earnings per	ordinary share of the Holding Company.
			30.09.2025	30.09.2024
			(Rupees in	thousand)
20.	CASH AND CASH EQUIVALENTS
	Cash and bank balances		27,437,990	44,564,075
	Short term investments		41,532,032	33,674,716
	Bank balances under lien		(268,000)	-
			68,702,022	78,238,791

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21. TRANSACTIONS AND BALANCES WITH RELATED PARTIES AND ASSOCIATED COMPANIES

The related parties of the Group comprise of entities having significant influence over the Group and entities controlled by such entities, associates, employees' retirement funds and key management personnel. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group. The Group considers Directors, MD/CEO, senior managers and above of the Holding Company to be key management personnel. Associated companies have been identified in accordance with the requirements of the Companies Act, 2017. Transactions and balances with related parties and associated companies, other than below, have been disclosed in relevant notes to these condensed interim consolidated financial statements.

The Group, in the normal course of business, pays for utilities and makes regulatory payments to entities controlled by GoP which are either disclosed in respective notes to these condensed interim consolidated financial statements or are collectively, but not individually, significant to these condensed interim consolidated financial statements.

Name and nature of relationship	Nature of transaction	30.09.2025 30.09.2024 10,334,558 7,090,788 191,534 212,638 720,000 - 5,167,279 3,545,394 67,137 88,666 32,093 - - 32,141 5,207,196 3,572,781 18,575,207 18,223,970 1,556,411 1,917,292 35,220 42,491 3,377 27,397 353,711 20,836 79,421 12,655 693,110 796,411 10,174,614 9,744,546 187,365 8,285 1,512,825 1,500,658 550 7,921 3,932 - 226,064 416,642 955 35,661 240,550 413,846 Transactions for the three months period ended (Rupees in thousand)	30.09.2025 30.09.2024 10,334,558 7,090,788 191,534 212,638 720,000 - 5,167,279 3,545,394 67,137 88,666 32,093 - - 32,141 5,207,196 3,572,781 18,575,207 18,223,970 1,556,411 1,917,292 35,220 42,491 3,377 27,397 353,711 20,836 79,421 12,655 693,110 796,411 10,174,614 9,744,546 187,365 8,285 1,512,825 1,500,658 550 7,921 3,932 - 226,064 416,642 955 35,661 240,550 413,846 Transactions for the three months period ended (Rupees in thousand)
			7,090,788 212,638 - 3,545,394 88,666 - 32,141 3,572,781 18,223,970 1,917,292 42,491 27,397 20,836 12,655 796,411 9,744,546 8,285 1,500,658 7,921 - 416,642 35,661 413,846 thousand)

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Name and nature of relationship	Nature of transaction	30.09.2025 30.09.2024 - 32,141 586,248 - - 32,141 6,719 4,873 180,929 - �� 493,897 62,274 50,319 35,937 - - 298 30.09.2025 30.06.2025 Transactions for the three months period ended (Rupees in thousand) Balance as at
		386,261 299,416 14,732 121,229 193,132 149,709 498,879 358,958 1,204,945 1,465,608 3,111,281 3,244,983 209,800 357,644 67,137 - 43,503 55,147 (Rupees in thousand)

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Name and nature of relationship	Nature of balance	30.09.2025 30.06.2025 Balance as at
		69,067,033 67,291,712 1,761 33,130 9,435,249 9,859,612 187,545 144,854 20,848 6,194 2,701 1,446 351,579 254,654 79,264 101,286 21,724,489 29,159,384 126,413 250,070 1,766,396 1,771,937 - 90,833 278,594 50,486 1,149,289 1,100,852 - 407 9,199 64,470 39,357 117,094 32,436 7,814 91,018 62,789 4,757,947 7,469,835 84,776 16,328 4,882,005 10,784,455 473 3,735 193,333 108,913 1,424,834 1,659,377 - 213 689,680 656,537 122,170 93,940 15,456 48,750 - 53,438 5,437 2,111 (Rupees in thousand)

These entities are also associated entities of the Holding Company by virtue of common directorship.

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22. FINANCIAL RISK MANAGEMENT AND FAIR VALUE MEASUREMENT

The Group’s financial risk management objectives and policies are consistent with those disclosed in the audited consolidated financial statements for the year ended June 30, 2025. There is no change in the nature and corresponding hierarchies of fair value levels of financial instruments from those as disclosed in the audited consolidated financial statements for the year ended June 30, 2025. The carrying values of financial assets and liabilities approximate their fair values as of September 30, 2025 except for financial assets due directly/ultimately from GoP for which ECL model has not been applied as mentioned in note 2.4 to these condensed interim consolidated financial statements.

The Group has the following financial assets at fair value:

September 30, 2025 Short term investments Long term investments June 30, 2025 Short term investments Long term investments	Level 1 25,691,463 195,404 25,886,867 38,224,669 188,779 38,413,448	Level 2 Level 3 - - - - - - - - - - - - (Rupees in thousand)	Total 25,691,463 195,404
			25,886,867
			38,224,669 188,779
			38,413,448

23. GENERAL

23.1 Revenue from major customers constitutes 96% of the total revenue during the three months period ended September 30, 2025 (three months period ended September 30, 2024: 96%).
23.2 These condensed interim consolidated financial statements have been authorized for issue by the Board of Directors of the Holding Company on October 30, 2025.

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Nabeel Rasheed Chief Financial Officer

Faheem Haider Managing Director / CEO

Abid Niaz Hasan Lt Gen Anwar Ali Hyder Director HI(M), (Retd) Chairman

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� ��ا ىر�

ٹر�ر ز��اڈ ڈا��ز ر�رٹ اور �ہ اور� �رى �� ارے � �� س � ر� � � �� ء� � �� وا� � �� ت2025،�30 � �۔

: ت� ا � ( � � �۔�� )217�رو�� ڈ21.725- �� ل2024  ۔ �ہ آ�� ا�م � �� ا�� وا�� و�د، � � ��ں � �ى  �رى � اور زر�ن ڈر� �ا� � وام ا�� ، � � �و� اور �ال � دو � � ز� � � ��ِ ا�ر� اور ا��ل �ا  � ۔ � � �رى3 �ال-ZSG-1 اور �� ذر� � � �ؤ � ا � � �1 -� ڈ�� اور �ت� �و2 � �اوارا�-، ��ن �[��] �� رٹSML-2  ۔ �� ڈو� �� رى آ�� ، � � �� ر � او�ت�� ا�� ا�ا�ر � (SVPF)�� وا� �و  ۔� ر�� ا�م � �و� �اور �� [��][��] � آف[�] [�][�] ڈ�ا ڈ�رى �� ا� �� D&P� � �رى د�� ن اِ� � � � �[��] [�][��] � آف �[�] [�][�] ڈ ��ر  �۔ � �رى دى �[��] [�][��] � � �� ا[��] �ا� و �� (IRH) RSC Ltdا�� ر�رس �� رى �� )�ا��( � ،اس �� دوران  ۔ ، ا�رى �� ا�� اور ا�رى ر�ر� �ا�� ، � �م � � �� ا��، دو ۔ و� دى ��رٹ �� ا�ر�ا� �� ا�� رى ا 

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ٹر�ر � �د�ر� �� روا � ،� اور ا�ادى �ت � �� ا۔ �و� ا�ر� ��( ��ى، ڈرا�� ، آ) �� ل � آ�ز �، � اورHSE � ( � ذر� آ� �� ، � � �ر �ں �) �ر� ڈو� �و�امI( PSM ،� �و�ام �ِ� آف �� و� � � )PSM ( � �د �� ۔HAZOPs) � ا�ى[��] [�][��] �� رڈ ا� آ�[��] � � دو ا��ں � �اور PSM � � �( �ر �) � � �� آورز، اور �دLMS ،��ك ڈر14,490225 ،� � اور3 ، �ل 2،1[��] [�][��] � �� آؤٹ � ذر� � � � �� ۔ آف ورك �� ۔ �ول �ى ا��[��] [�][��] �اس � آڈ� اور11 �� ت،� �ر� � ذر08 � ا�ر� � 2,032 اور15[��] [�][��] )COW �� وس �ا� � � � اور آ�� دى۔ ،( ور�پTRA �ر� �� ا��ا �ر�� (ESG) �ر�&�� ،��ا�ا ۔ اس � � �آ� �� ط �� ر�� اور[��] [��][�] ، � �� ڈ� � � � � اورS2S1 اورIFRS �� اESG ۔ ا�م دى ��[��] �وس � اان-ا� �� ر�ر�، ESG[��] ا�� آر�� ز �� ط�� ا�� ، �� آ�� ى � �[��] �رٹ" � �ا� "�� ڈ�ا� � ا� ��رز � � �� م � � ر� � اور اس �ا�� و�[��] [�][��][�] ۔ �� وفِ � �� ا�� ا �� ۔ �ط �� م �[��] ا�� ، � ز�ِ ��ہ

�و� � �ر�ور�� : �درج ذ� � ��ت � دوران ��رو�ر� � �و��

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----- Start of picture text -----

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%1 107,982 �9.93 109,068 �10.3 �و� � �BOEs
----- End of picture text -----

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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�ر �� رو - 19.2 �� 25 �� از2024 (3.6) ا�� و� � ا � �[��] - 15.6 �� 26 �� از2025

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(%19)	16.01	13.03	EPS ( � ��)رو
(%18)	15.99	13.16	EPS ) � � - ( � ��رو

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: �و�وڈ �ز�اس و� � ذ�� وڈ�� ر � �� ڈرل اور � � �۔�ز� اور SML-SUL� ذر� �� رٹSML-2  � �۔� �MMscfd� 2.6�ر�روا اورSML-SULMMscfd� 5 ر�روا�  � ڈو� � � � �ر � رواں �ل � دوران �� ز� ڈو� و�� ڈر� � �� ۔� ��ز-I � �ر�روا HRL �� ر�و� �� اں، �ر�و� �� ، اس �ل � دوران HRL �ا  �اوار � �� ا�� ۔ � �ا� ڈو� و �ر�روا� � �اوارى �� ا� ڈر� � � ا� � � �ر � �ل � دوران اHRLHRL  ڈر� � �� ۔

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�� (�ا�� ا�� ا� )��ر�� ، � ��ا � �ور �ك � � ��ر-( FPCL) � � ��رى ا��، �� و ��ور� ا� ،� ور� ا�� اور آ�� ےFPCL ��۔ اس ��ے � �، �رى ا�� 65� �رم آؤٹ ��ہ �۔ � �وط �ر�ں ر��ى �۔ � ��ہ��25 ر��ى �ر�ں � �وط ،� �� ر28� � �، اور �ك-آ�ر � راؤ�� وا� ء، 2025ا�� اس � �وہ، � �

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: ےو�G&M روا �� ا� �ڈ ��
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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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��ں �� اور � �� و � HRL PEF� �رى  ��[��] آ� اور � � �ز ڈ� � �ا� اور آ�د ا�م  آ��ڈر� � � �[�] � �� ن  ��و� PIOL �ڈو� � در��ں � � �اوار � آ� � � ��ا5، �ك �ر آف

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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:� ر�ا

�ا� �� رڈ آف ڈا��ز � � �م �ز� � �� ا� � � ا� ��ں � � � � ان � � اور �م

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�رڈ � � اور اس � ��

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(ڈ��ر)(ى�) ز�ا ل� ، ر� � ر�ا ل� � ر� � �� ڈا��/� اى او ا�م آ�د ء ، 2025��ا30

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FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30 , 2025

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MARI ENERGIES LIMITED

VISION & MISSION STATEMENT

Our Vision

MariEnergies envisions becoming an international integrated exploration and production company by enhancing its professional capacity through highly knowledgeable and talented workforce that builds its petroleum reserves by consistently discovering more than what it produces within Pakistan and abroad; and improving financial capacity and profitability through efficient operations, while taking environmental safeguards and catering to social welfare needs of the communities inhabiting the area of operations.

Our Mission

To enhance exploration and production by exploiting breakthroughs in knowledge and technological innovations, adopting competitive industrial practices to adequately replenish the produced reserves and optimizing production for maximizing revenues and return to the shareholders whilst maintaining the highest standards of HSE and CSR

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Head Office

21 Mauve Area, 3rd Road, G-10/4, Islamabad - 44000, Pakistan UAN: +92-51-111 410 410 Fax: +92-51-2352859 www.marienergies.com.pk

Daharki Field Office

Daharki, District Ghotki Pakistan UAN: +92-723-111 410 410 Fax: +92-723-660402

Karachi Liaison Office

D-87, Block-4, Kehkashan, Clifton, Karachi-75600 Pakistan UAN: +92-21-111 410 410 Fax: +92-21-35870273

Quetta Liaison Office Regional Office KP 26, Survey-31, Bannu Cantt. Defence Officers Housing Scheme Tel: 0928-621793-4 Airport Road, Quetta, Pakistan Tel: +92-81-2821052, 2839790 Fax: +92-81-2834465

AI assistant

Mari Energies Limited — Interim / Quarterly Report 2026

72201_rns_2025-10-30_819a8410-eed6-46e0-bc32-db2cd4f7c95a.pdf

MARI ENERGIES LIMITED

COMPANY INFORMATION

Registered / Head Office

External Auditors

Field Office Daharki

Quetta Liasion Office

Shares Registrar

Legal Advisor

TABLE OF CONTENTS

BOARD OF DIRECTORS

Mr. Nabeel Rasheed

COMMITTEES OF THE BOARD

MARI ENERGIES LIMITED

DIRECTORS’ REVIEW

Key Highlights:

Operational Environment and Key Challenges:

HEALTH, SAFETY AND ENVIRONMENTAL PERFORMANCE

Environmental, Social & Governance (ESG) Performance and Sustainability Leadership

HYDROCARBON SALES

FINANCIAL PERFORMANCE

EXPLORATION, DEVELOPMENT AND OPERATIONAL ACTIVITIES

Exploration and Appraisal Wells:

Development Wells:

Portfolio Expansion

Seismic Data Acquisition Projects and G&M Surveys:

Offshore Block-5 (UAE)

Significant Development Projects:

Optimizing Swing Volume Flow Through Evaporative Cooling Integration

HRL Pressure Enhancement Facilities (PEF) Project

SML-SUL Development

Carbon Capture and Sequestration (CCS) Project

Approval of Commerciality / Field Development Plan

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Strategic Partnerships:

DIVIDEND

FUTURE OUTLOOK OF THE COMPANY

DIVERSIFICATION EFFORTS

Mari Minerals (Private) Limited

Mari Technologies Limited

Awards and Recognitions:

TRIBUTE TO LAW ENFORCEMENT AGENCIES (LEAs)

ACKNOWLEDGEMENT

CONDENSED INTERIM FINANCIAL STATEMENTS

MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

1. LEGAL STATUS AND OPERATIONS

2. BASIS OF PREPARATION

2.5 Exemption from application of Expected Credit Losses model

3. ACCOUNTING POLICIES, SIGNIFICANT ACCOUNTING ESTIMATES, ASSUMPTIONS AND JUDGEMENTS

8. CONTINGENCIES AND COMMITMENTS

8.1 Contingencies

21. TRANSACTIONS AND BALANCES WITH RELATED PARTIES AND ASSOCIATED COMPANIES

22. FINANCIAL RISK MANAGEMENT AND FAIR VALUE MEASUREMENT

23. GENERAL

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

MARI ENERGIES LIMITED NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

1. LEGAL STATUS AND OPERATIONS

2. BASIS OF PREPARATION

2.4 Exemption from application of Expected Credit Losses model

3. ACCOUNTING POLICIES, SIGNIFICANT ACCOUNTING ESTIMATES, ASSUMPTIONS AND JUDGEMENTS

8. CONTINGENCIES AND COMMITMENTS

8.1 Contingencies

21. TRANSACTIONS AND BALANCES WITH RELATED PARTIES AND ASSOCIATED COMPANIES

22. FINANCIAL RISK MANAGEMENT AND FAIR VALUE MEASUREMENT

23. GENERAL

Mari Energies Limited Interim / Quarterly Report 2026