SaudiArabia1002026 The annual report on the most valuable and strongest Saudi Arabian brands Contents Foreword8David Haigh, Chairman & CEO, Brand Finance Country Overview11 Valuation Analysis15Most Valuable Saudi Arabian Brands 202616Brand to Watch:Saudi Energy19 Brand Strength Analysis 21 Brand Spotlights25 Mobily27Nora Al Shiha SVP, Corporate Brand & Communications Saudi Energy31Moayad Abdulaziz Alshehri, Brand Director Saudia35Khaled Tash, Chief Marketing Officer 39 stcFaisal Almalki, Brand Management GM, stc Brand Value Ranking (USDm)42 Methodology45 Our Services53 AboutBrand Finance Bridging the gap betweenMarketing and Finance Brand Finance was set up in 1996with the aim of 'bridging the gap betweenmarketingandfinance'.For30years,wehave helped companies and organisationsof all types to connect their brands tothe bottom line. Quantifying thefinancial value of brands We put thousands of the world’s biggestbrands to the test every year. Rankingbrands across all sectors and countries,we publish over 100 reports annually. Unique combinationof expertise The world'sleading brandvaluationconsultancy Our teams have experienceacross a wide range of disciplinesfrom marketing and market research,to brand strategy and visual identity,to tax and accounting. Priding ourselveson technical credibility Brand Finance, a chartered accountancyfirmregulatedbytheInstituteofCharteredAccountants in England and Wales, is thefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.Ourexpertscraftedstandards(ISO10668andISO20671)andourmethodology,certifiedbyAustrianStandards,isofficiallyapproved by the Marketing AccountabilityStandards Board. For business enquiries, please contact:enquiries@brandfinance.com For media enquiries, please contact:press@brandfinance.com +44 207 389 9400www.brandfinance.com Saudi Arabia’stop 100 brandsreach $131.9billion as SaudiVision 2030 drivesdiversificationmomentum +Aramcoextends its unrivalled reign as Saudi Arabia’smost valuable brand for the seventh consecutive year +stcis the strongest brand in the country for sixconsecutive years +Brand to watch:Saudi Energy’srebrand signalsit ambitions to redefine its role from deliveringelectricity to powering national progress +KFSHRCreinforces leadership as Saudi Arabia’smost valuable healthcare brand +Saudi Arabia’s aviation sector ascends asSaudia Groupdrives growth andFlynasfuels expansion Foreword This year marks Brand Finance’s 3 0th anniversary. Throughout our history as acompany, there has been one enduring truism: brands operate in a world shapedby continual change. Rapidadvancements in AI,geopolitical fragmentation,economic uncertainty,andrising expectations of corporate behaviour have all placed new pressureson organisations. While the challenges have evolved, the importance of buildingand maintaining brand strength has remained constant. Looking back to 1996, the global brand landscape was dominated by traditionalconsumer names. Since then, the rise of technology and digital services, the move fromproducts to ecosystems, the increasing prominence of B2B brands, and the growth ofplace branding have fundamentally reshaped how value is created. David HaighChairman & CEO,Brand Finance Today, the commercial contribution of a strong brand is well recognised. I t drivesdemand, supports premium pricing, attracts and retains talent, increases resilienceduring uncertainty, and provides confidence to investors. D espite this awareness,many organisations still struggle to quantify brand value or explain its role in businessperformance. This lack of clarity often creates a gap between marketing ambitionand financial decision-making, limiting the ability to invest for the long term. At Brand Finance, our mission for 3 0 years has been to close that gap. By bringingtogether robust valuation methodologies and in-depth research, we help leadersunderstand the financial impact of their brand and make better-informed decisions.Whetheryou are looking to strengthen brand performance,evaluate marketinginvestment, support a transaction, or bring greater alignment across your organisation,our team is here to help. As you explore this year’s findings, Iencourage you to consider how the insightscan support clearer decision-making within your organisation. Strong brands arebuilt through informed choices and consistent investment, and our team is readyto help you translate the data into practical next steps for your strategy. CountryOverview CountryOverview SaudiArabia’seconomictrajectoryin2026reflectsacarefulbalancing act between near-term pressuresfromcontinued progress in economic diversification.AccordingtotheInternationalMonetaryFund,realGDPgrowthfortheKingdomisprojectedataround3.3%in2026, supported by a gradual recovery in oil production asOPEC+cutsease,alongsidesustainedexpansioninnon-oil sectors. Ongoinginitiativesunde