# EDGAR Filing Document

**Accession Number:** 0001875609
**File Stem:** 0001104659-25-102912
**Filing Date:** 2025-10
**Character Count:** 28654
**Document Hash:** 8aa3706926ba9fd4550b4a5ff579dbb4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-102912.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001104659-25-102912

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20251028

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Swvl Holdings Corp
- **CENTRAL INDEX KEY:** 0001875609
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41339
- **FILM NUMBER:** 251421662

**BUSINESS ADDRESS:**
- **STREET 1:** THE OFFICES 4
- **STREET 2:** ONE CENTRAL
- **CITY:** DUBAI
- **STATE:** C0
- **ZIP:** NA
- **BUSINESS PHONE:** 97 1552 132989

**MAIL ADDRESS:**
- **STREET 1:** THE OFFICES 4
- **STREET 2:** ONE CENTRAL
- **CITY:** DUBAI
- **STATE:** C0
- **ZIP:** NA

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Pivotal Holdings Corp
- **DATE OF NAME CHANGE:** 20210728

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of October 2025**

**Commission File Number: 001-41339**

**Swvl Holdings Corp**

**The Offices 4, One Central**

**Dubai World Trade Centre**

**Dubai, United Arab Emirates**

**(Address of principal executive office)**

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ⌧ Form 40-F ◻

**CONTENTS**

On October 28, 2025, Swvl Holdings Corp ("Swvl") issued a press release titled: "Swvl Reports Continued Profitability this Quarter, Achieving 46% Revenue Growth and Net Profit of $0.2 Million in Q3 2025." A copy of this press release is furnished herewith as Exhibit 99.1.

On October 28, 2025, Swvl also made available an investor presentation on its website. A copy of the investor presentation is furnished herewith as Exhibit 99.2.

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit** | **Description of Exhibit** |
| [99.1](tm2529619d1_ex99-1.htm) | [Press release titled: "Swvl Reports Continued Profitability this Quarter, Achieving 46% Revenue Growth and Net Profit of $0.2 Million in Q3 2025."](tm2529619d1_ex99-1.htm) |
| [99.2](tm2529619d1_ex99-2.htm) | [Investor presentation](tm2529619d1_ex99-2.htm) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **SWVL HOLDINGS CORP** | **SWVL HOLDINGS CORP** |
| Date: October 28, 2025 | By: | /s/ Mostafa Kandil |
|  | Name: | Mostafa Kandil |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Swvl Reports Continued Profitability this Quarter, Achieving 46% Revenue Growth and Net Profit of $0.2 Million in Q3 2025**

*Revenue grew 46% quarter-over-quarter to $6.5* *million*

 

*Gross margin increased by 28.3% quarter-over-quarter to $1.4 million*

 

*Recurring revenue share increased to 78% and dollar-pegged revenue grew to 26% of total revenue*

 

*Net profit of $0.2 million for Q3 2025, maintaining profitability year to date*

DUBAI, UAE — October 28, 2025 — Swvl Holdings Corp (Nasdaq: SWVL), a global provider of tech-enabled mobility solutions, today announced its financial results for the third quarter ended September 30, 2025.

Swvl achieved positive financial performance in Q3 2025, with revenue increasing 46% quarter-over-quarter from $4.4 million to $6.5 million, supported by growth across core markets and sustained margin improvement. Gross margin rose by 28.3% from $1.09 million to $1.4 million, reflecting accelerated growth, an improved mix of dollar-pegged revenue and expanding contract-based operations.

**Regional Performance**

**GCC** (United Arab Emirates and Kingdom of Saudi Arabia)

Revenue increased by 81% quarter-over-quarter from $0.94 million to $1.7 million, while gross margin increased by 133% from $0.22 million to $0.5 million. This growth reflects Swvl's successful execution across Gulf Cooperation Council (GCC) markets, which serve as a core hub for the Company's planned growth and profitability, potentially paving the way for further expansion across the region.

**Egypt**

Revenue rose 36.4% quarter over quarter from $3.49 million to $4.76 million, driven by expanding enterprise demand across key sectors. While margin percentage increased modestly at 2.5% from Q3 2024 to Q3 2025, the quarter focused on scaling the revenue base ahead of anticipated margin improvement in subsequent quarters.

**Our strategy highlights**

Swvl continues to execute on its strategic pillars of accelerating growth, margin expansion, recurring revenue growth, and increased exposure of revenue in dollar-pegged markets.

**Accelerating Growth**: Swvl continues to reinvest in its product and commercial organizations, driving an acceleration in revenue growth, which started at 12.4% in Q1 2025, and is now at 46% in Q3 2025 .

**Recurring Revenue Growth**: Enterprise contracts now account for nearly four-fifths of revenue, enhancing predictability and reducing the impact of seasonality.

**Dollar-Pegged Expansion**: The Company is growing its USD-linked operations while also preparing for entry into the U.S. and the remaining GCC countries to build a more sustainable foreign-currency resilient base.

Mostafa Kandil, Chief Executive Officer of Swvl, commented:

"Our Q3 2025 results underscore that Swvl's growth engine is firing across core markets. We remain focused on scaling our high-margin enterprise verticals and expanding our revenue base in existing and new markets while maintaining profitability and strong unit economics."

Ahmed Misbah, Chief Financial Officer of Swvl, commented:

"We believe that this quarter demonstrates Swvl's continued ability to scale profitably while maintaining strong economics. Our progress toward a more stable, recurring, and dollar-pegged revenue base reflects the strength of our model and the resilience of our operations across the region."

**About Swvl:**

Swvl is a leading provider of technology-driven mobility solutions for enterprises and governments. Its platform leverages real-time data, adaptive networks, and advanced technology to deliver safer, more reliable, and sustainable transportation solutions across emerging and developed markets.

For more information, please visit <u>www.swvl.com</u>.

**Forward-Looking Statements:**

This press release contains "forward-looking statements" relating to future events. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions.

These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. For example, Swvl is using forward-looking statements when it discusses its expectations about its ability to maintain profitability; its focus on recurring, contract-based, and USD-linked revenues aimed at building quality earnings; its long-term enterprise contracts and customer retention; its ability to expand in new markets, including the U.S. and additional GCC countries; and its plans to balance growth with margin expansion.

These statements are based on current expectations of Swvl's management and are not guarantees or predictions of future or actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual results may differ materially due to risks and uncertainties as detailed in Swvl's filings with the U.S. Securities and Exchange Commission. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Swvl. These statements are subject to a number of risks and uncertainties regarding Swvl's business, and actual results may differ materially.

In addition, forward-looking statements provide Swvl's expectations, plans, or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments could cause Swvl's assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

These forward-looking statements should not be relied upon as representing Swvl's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon any forward-looking statements. Except as otherwise required by law, Swvl undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

**Contact:**

Investor Relations: investor.relations@swvl.com

Ahmed Misbah, Swvl's Chief Financial Officer: ahmed.misbah@swvl.com

## Exhibit 99.2

**Exhibit 99.2**

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q3 2025 \| Update |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclaimer This presentation may contain "forward-looking statements" which include, but are not limited to, statements regarding future events and other statements that are not historical facts. Forward-looking statements are generally accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. For example, Swvl Holdings Corp ("Swvl" or the "Company") is using forward-looking statements when it discusses the Company's expectations regarding continued revenue and gross-margin growth; the Company's ability to sustain profitability and positive net income; the Company's focus on expanding recurring, contract-based and dollar-pegged revenue streams to enhance predictability and reduce foreign-currency exposure; the Company's plans to accelerate growth through reinvestment in commercial and engineering teams; the Company's strategy to scale operations across the Gulf Cooperation Council, Egypt, and new markets such as the United States and the United Kingdom; the Company's goal of achieving a 35 – 40% steady-state margin profile; and the Company's view that increasing the share of enterprise and government contracts will drive long-term, sustainable profitability. These statements are based on the current expectations of Swvl's management and are not predictions of actual performance. These forward-looking statements must not be relied on by any investor as a guarantee, assurance, prediction, or definitive statement of fact or probability. Actual results and outcomes could differ materially for a variety of reasons, including, among others, general economic, political and business conditions; the ability of Swvl to execute its growth strategy, manage growth profitably and retain its key employees; competition with other companies in the mobility industry; Swvl's limited operating history and lack of experience as a public company; recent implementation of certain policies and procedures to ensure compliance with applicable laws and regulations, including with respect to anti-bribery, anti-corruption, and cyber protection; the risk that Swvl is not able to execute its portfolio optimization plan; the risk that Swvl is unable to attract and retain consumers and qualified drivers and other high quality personnel; the risk that Swvl is unable to protect and enforce its intellectual property rights; the risk that Swvl is unable to determine rider demand to develop new offerings on its platform; the difficulty of obtaining required registrations, licenses, permits or approvals in jurisdictions in which Swvl currently operates or may in the future operate; the fact that Swvl currently operates in and intends to expand into jurisdictions that are, or have been, characterized by political instability, may have inadequate or limited regulatory and legal frameworks and may have limited, if any, treaties or other arrangements in place to protect foreign investment or involvement; the risk that Swvl's drivers could be classified as employees, workers or quasi-employees in the jurisdictions they operate; the fact that Swvl has operations in countries known to experience high levels of corruption and is subject to territorial anticorruption laws in these jurisdictions; the ability of Swvl to maintain the listing of its securities on Nasdaq; Swvl's acquisitions may not be beneficial to Swvl as a result of the cost of integrating geographically disparate operations and the diversion of management's attention from its existing business, among other things; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission. The foregoing list of risk factors is not exhaustive. There may be additional risks that Swvl presently does not know or that Swvl currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Swvl's expectations, plans or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments will cause Swvl's assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Swvl's assessments as of any date subsequent to the date of this presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. Statement Regarding Non-IFRS Measures This presentation includes references to non-IFRS financial measures, which include amounts presented in local currencies. However, the presentation of these non-IFRS financial measures is not intended to be considered in isolation from, or as an alternative to, financial measures determined in accordance with IFRS. In addition, these non-IFRS financial measures may differ from non-IFRS financial measures with comparable names used by other companies. Swvl uses these non-IFRS financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons, and Swvl's management believes that these non-IFRS financial measures providemeaningful supplemental information regarding its performance by excluding certain items that may not be indicative of recurring core business operating results. There are a number of limitations related to the use of non-IFRS financial measures. In light of these limitations, we provide specific information regarding the IFRS amounts excluded from these non-IFRS financial measures and evaluate these non-IFRS financial measures together with their relevant financial measures in accordance with IFRS. An explanation of the non-IFRS financial measures referenced in this presentation can be found below: For a reconciliation to the most directly comparable IFRS measures please see Appendix A. Key Business Measures In addition to the measures presented in our consolidated financial statements, this presentation includes references to certain key business measures that Swvl's management uses to help evaluate and identify trends affecting Swvl's business, formulate business plans and make strategic decisions. The key business measures referenced in this presentation are set forth below. Dollar-Pegged Revenue, Recurring Revenue and Transactional Revenue which are defined in their respective slides. About Swvl 2 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;About Swvl Swvl is an end-to-end mobility operating system designed to transform urban transportation by making it more accessible, efficient, and reliable. Ourplatform leverages real-timedata, adaptive networks, and advanced technology to optimize mobility solutions forriders and drivers, ensuring seamless, dynamicoperations. By offering tailored mobility solutions for various usecases, such as first- and last-mile connectivity, schools, universities, corporations, and factories hubs, Swvl empowers cities to create more inclusive and efficient transit systems. Through flexible accessoptions and a focuson reducingCO2 emissions and operational costs, Swvl enhances shared mobility'soverall reliability and sustainability in smartercities. With products like theRider& Captain app,AdminConsole, and real-timedata capabilities, Swvl is the futureof smart shared mobility. 3 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Products& Services Product Suite Managed Services Real-time Monitoring & Insights Compliance & Safety Management Vehicle Rostering Network Planning & Routing Technologies Identity & Access Management White Labelled Customer Facing App On-ground Network Optimization Vehicle Utilization Fleet Sourcing Fleet Management Driver On-boarding On-ground Inspection Value Proposition Our comprehensive product suite, including real-time insights, vehicle rostering, and network planning technologies, ensures a robustfoundation for all mobility needs.This provides analytics for informed decision-making and deliversoperational efficiencyby cutting down costs across the entire system. Swvl's platform utilizes cutting-edge technology to provide tailored mobility solutions for various use cases, including first& last mile, schools, universities, public transit, NEMT, enterprise, and public transit. Swvl'sservicecan bedeliveredeither as a standalone technology (SaaS) or as part of a comprehensive managed services offering (MaaS), including fleet sourcing, fleet management, and driver onboarding, further enhancing our ability to scale and retain clients, ensuring long-term success in thesediverse use cases. Managed Services Schools Universities NEMT Enterprise Public Transit Airlines First & Last mile 4 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy Highlight |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy Highlight Rapid Margins Increase We've seen strong progress in revenue and margin expansion, with a clear line of sight to 35-40% steady-state margin potential. From FY22 to FY25, we expanded gross margin from 0% to 21-22%, evidence of strong momentum across our core markets Increase Recurring Revenue We're focused on increasing the share of recurring revenue to reduce seasonal volatility and enhance long-term visibility into cash flows. At steady state, we expect this to exceed 90% of total revenue. Dollar Pegged Revenue We're increasing the share of revenue from dollar-pegged and stable markets to minimize devaluation risk and ensure more reliable USD-denominated returns. We plan to continue launching and scaling such markets, with a clear focus on driving them quickly to profitability and positive cash flows. Commercial & Engineering We're rebuilding our commercial organization to become a growth engine, while also strengthening our engineering team to support scalable solutions that can drive millions of dollars in new revenue each month. High Margin Vertical We're focused on launching and scaling high-margin verticals, including luxury vehicles, captain lending, and other complementary services, which further enhance profitability. Shareholders Transparency We're enhancing transparency with our shareholders by reporting more frequently, sharing market guidance and scaling up our investor relations efforts. 5 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KeyHighlights for Q3 2025 Revenue Growth 45.7% Increase in Q3'25 over Q3'24 Gross Margin 21.6% In Q3'25 vs. 24.6% in Q3'24 Dollar Pegged Revenue 26% In Q3'25, up from 21% in Q3'24 Recurring Revenue 78% In Q3'25, up from 68% in Q3'24 Net Profit $0.21 Mn In Q3'25 vs. $0.41 Mn in Q3'24 6 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img008.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue & Gross Margin Revenue and Gross Margin in $Mn 4.4 45.7% 6.5 Q3'25 1.0 1.4 28.3% Strong Revenue & Margin Expansion in Q3'25 Swvl achieved robust financial growth in Q3'25, with revenue up 46% year-over-year to $6.4 million and gross margin increasing 28.3% to $1.4 million. The performance reflects continued operational efficiency, disciplined execution, and growing demand across core markets, underscoring the company's ability to scale sustainably while enhancing profitability. 7 Q3'24 Revenue Gross Margin |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img009.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strong Growth in Dollar-Pegged Revenue 21% 24% 26% Q3'24 Q3'25 Dollar-Pegged Revenue as a Percentage of Total Revenue Dollar-Pegged Revenue: Represents revenue generated in currencies which are pegged to theUS Dollar(i.e, currently, all revenues excluding EGP). Dollar-Pegged Revenue Focus Swvl continues to focus on dollar-pegged revenue across the GCC, with plans to expand into theUK and the U.S. to ensure long-term sustainability and dollar-pegged revenue growth. We will continue to expand our dollar-pegged revenue to reduce our exposure to fluctuations in foreign currencies. While expanding our engineering, operations, and support teams in some of the cost-effective markets we operate in. 8 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img010.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accelerating Growth in Recurring Revenue Swvl continues to strengthen its foundation of predictable, contract-based growth. Recurring revenue increased from 68% in Q3'24 to 78% in Q3'25, reflecting steady progress in shifting the business mix toward multi-year enterprise and government contracts. This transition underscores Swvl's focus on dollar-pegged/recurring revenue markets, including Saudi Arabia, the UAE, and the broader GCC, while paving the way for expansion into mature markets such as the U.S. and the U.K. Recurring revenue streams are primarily secured through enterprise and public-sector contracts ranging from 1 to 5 years, providing greater revenue visibility and protection against seasonality fluctuations. 32% 68% Q3'24 Recurring Revenue Transactional Revenue 22% 78% Q3'25 Recurring Revenue Transactional Revenue Recurring Contract-Based Revenue Focus (1) Recurring Revenue: Represents ourrevenue from contract-based operations with our enterprise customers (2) Transactional Revenue: Represents ourrevenue from individuals and from non-recurring enterprise customer requests. 9 |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img011.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q3 2025 \| Resultsof Operations |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img012.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;P&L All figures are in USD ($) Q3 2024 Q3 2025 % Change Revenue 4,431,364 6,458,649 45.7% Cost of Sales (3342447) (5061645) Gross Margin 1,088,917 1,397,004 28.3% % 24.6% 21.6% General & admin (1466255) (1775859) Selling and marketing (2571) (7423) Expected credit losses (11944) (6427) Change in fair value of financial liabilities 797,116 578,661 Finance income/(cost),net 7,456 24,988 Net Profit 412,719 210,943 -48.9% 11 Strategy Swvl's priority is accelerating revenue and gross margin growth, while reinvesting this growth in expanding its commercial and product organizations and entering new markets. All while maintaining positive net profit. |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img013.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Breakdown ofG&A All figures are in USD ($) Q3 2024 Q3 2025 Staff costs (1) 894,412 1,186,132 Professional fees 188,524 170,991 Technologycosts 194,865 149,147 Otherexpenses 48,187 156,212 Depreciation of property and equipment 4,697 2,301 Officeexpenses 15,667 24,446 Rent expense 57,382 38,238 Depreciation of right-of-use assets 13,639 10,893 Insurance 48,892 37,500 Total 1,466,255 1,775,859 12 (1) Staff costs include wages, salaries, end of service benefits and other payroll accruals, as well as employee stock option plan and other stock grants issued to employees. |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img014.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markets'Performance |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img015.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GCC Countries Swvl's operations across the GCC Revenue vs. Gross Margin in $Mn delivered an exceptional quarter, driven by continued growth in Saudi Arabia and the UAE. Regional revenue rose by 81% to $1.7 million, while gross margin more than doubled, up 133% to $0.5 million in Q3'25. This performance reflects Swvl's strategic focus on high-yield enterprise contracts, disciplined cost management, and operational excellence across key markets. The results reinforce the GCC's role as a core hub for growth and profitability, underscoring Swvl's scalable, high-margin operating model and its ability to thrive in mature, structured ecosystems. Revenue Gross Margin 0.94 1.70 Q3'24 Q3'25 0.22 0.50 133% 81% 13 (1) GCC refers to our business in the countries of the Gulf Cooperation Council (2) Our reported numbers for the United Arab Emirates and Kingdom of Saudi Arabia have been consolidated under a single "GCC" segment to capture regional synergies and better reflect the unified commercial and product approach. |

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| &nbsp;&nbsp;![GRAPHIC](tm2529619d1_ex99-2img016.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Egypt Revenue vs. Gross Margin in $Mn Egypt delivered a solid performance in Q3'25, with revenue rising 36.4% year over year to $4.76 million, driven by continued demand growth across key sectors. While margin expansion was modest, our goal was to expand the overall revenue base, and that will be followed by growth in gross margins in subsequent quarters. Revenue Gross Margin 3.49 4.76 Q3'24 Q3'25 0.87 0.89 2.5% 36.4% 14 |

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