Page 3 - Q1 2024 EN

REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION

The Board of Directors
Al Mazaya Holding Company K.S.C.P.
State of Kuwait

Introduction
We have reviewed the accompanying interim condensed consolidated statement of financial position of Al Mazaya Holding
Company K.S.C.P. (The Parent Company) and its subsidiaries (the Group) as of March 31, 2024 and the related interim
condensed consolidated statements of profit or loss, profit or loss and other comprehensive income, changes in equity and
cash flows for the three months period then ended. Management of the Parent Company is responsible for the preparation
and presentation of this interim condensed consolidated financial information in accordance with International Accounting
Standard 34, “Interim Financial Reporting”. Our responsibility is to express a conclusion on this interim condensed
consolidated financial information based on our review.

Scope of Review
We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim
financial information performed by the Independent Auditor of the Entity.” A review of interim condensed consolidated
financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and
applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in
accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we
would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit
opinion.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed
consolidated financial information is not prepared, in all material respects, in accordance with International Accounting
Standard 34.

Emphasis of Matter
We would like to draw attention to Note 3 to the interim consolidated financial information, which states that during the
period ended March 31, 2024, Al Mazaya Holding Company - K.S.C.P. (Parent Company) and First Dubai Real Estate
Development Company - K.S.C.P. (Subsidiary) had completed their Merger by Amalgamation, where Al Mazaya Holding
Company - K.S.C.P. was the “Merging” company and First Dubai Real Estate Development Company - K.S.C.P. was the
“Merged” company. Our conclusion is not modified in respect to this matter.