In CY25, Pakistan’s equity market posted a strong performance, with the KMI-30 Index gaining ~39% during the
year, supported by macroeconomic stabilization and improved investor confidence. The rally was reinforced by
continued IMF support under the International Monetary Fund programs, including disbursements of ~USD 1.2bn,
while State Bank of Pakistan foreign exchange reserves strengthened to above ~USD 15.8bn by year-end. Ongoing
monetary easing, a relatively stable PKR, and resilient remittance inflows further supported liquidity and sentiment, enabling Islamic Asset allocation funds to capture strong equity upside while fixed-income allocations maintained portfolio stability. Within the Islamic Asset Allocation Fund category, PACRA rated two out of ten funds, with the category’s average return at ~17.8%. Faysal Islamic Asset Allocation earned a 4-Star Ranking, delivering a 1-year return of ~12.55%. As of December '25, the Fund maintained ~43.03% in Sukuk, ~32.69% in Ijarah Sukuk, ~21.51% in Cash, and the remaining in Others including receivables. Top portfolio holdings included Ghani Chemical Industries Ltd. - Sukuk ~13.81%, Meezan Islamic Bank Ltd. - Sukuk - Tier I ~13.8%, Dubai Islamic Bank Ltd. - Tier II Sukuk ~3.86%, Bankislami Pakistan Ltd. - Tier II ~3.83%, and the remaining in others.

Over the past three years, Pakistan’s market navigated persistent inflationary pressures, sharp currency
depreciation, external financing constraints, and prolonged political uncertainty, alongside a consistently high
interest rate environment; despite these macro headwinds, the KMI-30 Index delivered cumulative gains of roughly
~263% across three years, supported by stabilization under the IMF program, gradual monetary easing,
strengthening foreign exchange reserves, improving current account dynamics, and resilient corporate profitability, positioning Pakistan among the top-performing frontier markets during this period. Despite this, Islamic Asset Allocation category showed resilience, with the average return at ~107%. Faysal Islamic Asset Allocation earned a 4-Star Ranking, delivering a 3-year return of ~66.74%. As of December '25, the Fund maintained ~43.03% in Sukuk, ~32.69% in Ijarah Sukuk, ~21.51% in Cash, and the remaining in Others including receivables. Top portfolio holdings included Ghani Chemical Industries Ltd. - Sukuk ~13.81%, Meezan Islamic Bank Ltd. - Sukuk - Tier I ~13.8%, Dubai Islamic Bank Ltd. - Tier II Sukuk ~3.86%, Bankislami Pakistan Ltd. - Tier II ~3.83%, and the remaining in others.

Over five years, Pakistan’s market faced high inflation, PKR depreciation, external financing stress, and political
uncertainty, but improved macro stability, IMF support, stronger FX reserves, and easing rates from CY23 fueled a
strong recovery, with the KM-30 Index delivering multi-year gains and emerging as a top-performing frontier
market. Despite this, the Islamic Asset Allocation category showed resilience, with the average return at ~135%. Faysal Islamic Asset Allocation earned a 5-Star Ranking, delivering a 5-year return of ~102.46%. As of December '25, the Fund maintained ~43.03% in Sukuk, ~32.69% in Ijarah Sukuk, ~21.51% in Cash, and the remaining in Others including receivables. Top portfolio holdings included Ghani Chemical Industries Ltd. - Sukuk ~13.81%, Meezan Islamic Bank Ltd. - Sukuk - Tier I ~13.8%, Dubai Islamic Bank Ltd. - Tier II Sukuk ~3.86%, Bankislami Pakistan Ltd. - Tier II ~3.83%, and the remaining in others.