Manama, Kingdom of Bahrain: GFH Financial Group (“GFH” or the “Group”) announced its acquisition of a majority stake in Byrne Equipment Leasing LLC, a leading industrial services and equipment leasing company in the GCC. This acquisition is part of a capital investment program totaling approximately US$400 million, strategically aimed at supporting growing projects and the region’s rapidly developing infrastructure .

Founded in 1992 in Dubai, UAE, Byrne has grown into a leading regional operator offering a comprehensive leasing model across a fleet of approximately 16,000 units. The company operates from 14 offices and a network of warehouses across the UAE, Saudi Arabia, Oman, and Bahrain, covering an area exceeding 153,000 square meters. This includes the Jubail Main Warehouse, one of the largest logistics and operations centers of its kind in Saudi Arabia. Byrne has achieved consistent and steady profit growth, registering approximately 20% growth last year, and is well-positioned to continue this upward trajectory.

Byrne serves a diverse client base of over 1,100 major corporate clients across the GCC, providing integrated equipment and services used in several sectors, supporting key industries including oil and gas, construction, utilities, and events. Its core capabilities include temporary power solutions, prefabricated buildings, air compressors, material handling equipment, mobile lighting solutions, and other critical assets required for large-scale operations.

The equipment rental market in the GCC continues its upward growth trajectory, exceeding ten percent, driven by the dynamism of the oil and gas sector, national development programs, industrial growth, and major events, particularly in Saudi Arabia. Byrne is strategically positioned to capitalize on this momentum, supported by a highly experienced management team and a proven track record of operational success.

With the support of GFH Group, Bayern will focus in the next phase on expanding into new sectors, strengthening its product portfolio, and broadening its reach in priority markets. The partnership will also leverage the technical expertise of Bayern's operating partners to enhance its competitive advantage in the region.

Commenting on the acquisition, Mr. Hamad Younes, Chief Investment Officer of GFH Group, said: “Byrn represents a leading and agile platform operating at the heart of the most vital sectors in the region. Its scale of operations, strong client relationships, and technical capabilities give it a clear advantage in capitalizing on a series of major regional projects. By acquiring 60 % of the company’s shares, we aim to accelerate Byrn’s growth trajectory and expand its presence in strategic GCC markets, including the UAE and Saudi Arabia, where demand for high-quality industrial leasing solutions is increasing.”

For his part, Mr. Patrick Fallon, Executive Vice President of Byrne Equipment Leasing , said: “Our partnership with GFH Financial Group opens up new and important horizons for Byrne. GFH’s regional scale, investment expertise, and long-term vision will enable us to enhance our service offerings, implement more advanced solutions, and continue to deliver the reliability and operational excellence our customers expect. This new phase of growth represents an opportunity to more effectively support national development programs in the GCC countries, especially the major projects underway in the UAE and Saudi Arabia.”

This acquisition aligns with GFH Group’s strategy of investing in vital sectors that support regional economies and contribute to achieving the objectives of national initiatives, such as Saudi Arabia’s Vision 2030 and the UAE’s Vision 2031. It also underscores the Group’s commitment to building strong, industry-leading platforms in high-growth markets.

About GFH Financial Group B.S.C.:

GFH Financial Group is a licensed Islamic wholesale bank regulated by the Central Bank of Bahrain and headquartered at GFH House, P.O. Box 10006, Manama Waterfront, Kingdom of Bahrain. A leading financial institution in the GCC region, GFH's activities encompass asset management, wealth management, commercial banking, and real estate development. The Group's operations focus on the Middle East and North Africa (MENA) region, Europe, the United Kingdom, and the United States. GFH shares are listed on the Bahrain Bourse, the Abu Dhabi Securities Exchange, the Kuwait Stock Exchange, and the Dubai Financial Market. For more information, please visit www.gfh.com .

For further information and media inquiries, please contact:

Nawal Al-Naji

Senior Manager – Corporate Relations, GFH Financial Group

Phone: +973 17538538

Email: nalnaji@gfh.com

Website: www.gfh.com

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