Administration expenses for the year ended 31 December 2025 primarily reflect corporate overheads of the Group together with operating costs incurred by QIND (including Al Shola Gas) for the full year. These expenses include wages and salaries, depreciation and amortisation, professional fees, and other general administrative costs. Depreciation and amortisation for 2025 has been restated (refer to Note 5).

In the prior year, administration expenses included costs incurred by the Group’s legacy hydrogen entities up to the date of deconsolidation, as well as certain reclassifications from cost of sales and inventory impairment charges relating to those operations. As a result, the 2024 and prior year figures are not directly comparable.

 Schedule of administration expenses