Date: 27/09/2026

Sub: Galfar MSX Discussion Session on the unaudited financial results for H1 2026. 

Galfar Engineering & Contracting SAOG (the “Company”) would like to inform its shareholders, investors and analysts that the MSX Interactive Session was held on Tuesday, 22 September 2026 to discuss the Company’s unaudited financial results for the first half of 2026, followed by a question-and-answer session with participants.

The Chief Executive Officer welcomed the shareholders, investors, analysts and other participants and highlighted the importance of such interactive sessions in providing an opportunity not only to discuss the Company’s financial performance, but also to engage directly with the investment community on the Company’s strategy, achievements, challenges and outlook.

The Chief Executive Officer, together with the Chief Financial Officer, presented an overview of the Company’s strategic direction, financial performance and key achievements. The financial results discussed during the session had previously been disclosed on the MSX platform in August 2026.

The presentation also covered the outlook for the Oman construction market, the Company’s In-Country Value commitment, market and order-book outlook, and its strategic priorities. Management highlighted that the Company’s priorities for the remainder of 2026 include continuing to improve project profitability and operational performance, strengthening cash flow and working-capital management, replenishing the order book through disciplined and selective bidding, and pursuing new areas of sustainable growth, while continuing to monitor prevailing market and geopolitical developments.

During the interactive Q&A session, participants raised a number of matters relating to the Company’s business and financial position.

Order Book and Market Opportunities

In response to questions regarding the Company’s order book, management reiterated that while maintaining an adequate order book is important, the Company’s priority is the quality and profitability of its backlog. Accordingly, Galfar continues to adopt a selective bidding approach, taking into consideration project margins, contractual terms, risk allocation, cash-flow characteristics and execution capability.

Management discussed an indicative annual order-intake objective in the range of OMR 250–300 million, subject to market conditions, timing of project awards and the Company’s selective bidding criteria. Management further noted that the current order book provides revenue visibility over approximately three years, although individual contract durations vary.

Management acknowledged that the conversion of the available tender pipeline into awarded projects has been slower than anticipated due to prolonged award decisions. Nevertheless, the Company continues to participate in a significant pipeline of opportunities across its core sectors. Any material new project awards will be disclosed through MSX in accordance with the applicable disclosure requirements.

Working Capital and Capital Structure

Participants also raised questions regarding the working-capital-intensive nature of the contracting business and the Company’s capital structure.

Management confirmed that strengthening cash flow and working-capital management remains a key strategic priority. The Company continues to evaluate appropriate financing and capital-structure alternatives as part of its ongoing financial management. Any material development in this regard will be disclosed in accordance with applicable regulatory requirements.

Arbitration and Litigation

In response to questions concerning ongoing arbitration and litigation matters, management referred participants to the relevant disclosures contained in the Company’s published financial statements.

Such matters remain subject to the applicable legal and arbitration processes, and the Company will disclose any material developments as required under the applicable disclosure requirements.

NNGT Joint Venture / Railway Project

In response to questions regarding the NNGT joint venture and the railway project, management explained the applicable accounting treatment of the joint venture and confirmed that the project continues to progress.

Management further reiterated its continued focus on sustaining and improving project performance and profitability, while recognizing the operational and market challenges associated with major project execution.

Geopolitical and Cost Environment

Participants also asked about the potential impact of current geopolitical developments on project costs.

Management noted that the extent of any impact will depend on the duration and development of the prevailing circumstances. The Company continues to monitor potential cost, procurement and supply-chain pressures and assess their possible impact on the projects under execution.

Dividend

In response to a question regarding future dividend distributions, management clarified that no commitment regarding dividend distribution was made. Any future dividend proposal would be considered in light of the Company’s financial performance, cash-flow position, working-capital and funding requirements, applicable legal and regulatory requirements, and would remain subject to the necessary corporate approvals.

Proposed Divestment of Al Khaleej

A question was also raised regarding the recently announced Ordinary General Meeting in relation to the proposed sale of the Company’s stake in Al Khaleej Heavy Equipment & Engineering LLC.

Management referred participants to the Company’s previously published disclosures and confirmed that the matter will be considered at the Ordinary General Meeting scheduled for 6 October 2026. Any subsequent material developments will be disclosed through MSX in accordance with the applicable requirements.

The session concluded with management thanking all shareholders, investors, analysts and other participants for their engagement and continued interest in Galfar Engineering & Contracting SAOG.