Al Imtiaz Investment K S C Public : Annual general meeting outcome

Date: 06/03/2024

Ref: 2024/CAD/BK/036

Boursa Kuwait Company

Kuwait

Subject: Results of the Ordinary General Assembly Meeting

In reference to the above subject, and the requirements of the fourth chapter of Module Ten (Disclosure and Transparency) of the Executive bylaws of Law No 7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities activities and their amendments, find enclosed the Disclosure Form of Material Information.

Sincerely,

Saad Sami Al Bader

Acting Chief Executive Officer

Disclosure Form of Material Information

Date

Name of the listed Company

06/03/2024

Al Imtiaz Investment Group Company

We would like to inform you that the Ordinary General Assembly ("OGA") for the fiscal year ended on 31/12/2023 of Al-Imtiaz Investment Group Company was held today, Wednesday 06/03/2024, at 10:30 AM through direct attendance and through the electronic system of general assemblies. The OGA was held at the Company's headquarters located in Al Sharq-Khalid Bin Al-Waleed Street - Al Dhow Tower- ground floor meeting hall.

All the items on the agenda have been approved as follows:

Material Information

1. The Board of Directors' report on the Company's business for the fiscal year ending on 31/12/2023 was discussed and approved.
2. The Company's auditors' report for the fiscal year ending on 31/12/2023 was discussed and approved.
3. The consolidated financial statements of the Company and the profit and loss account for the fiscal year ending on 31/12/2023 were discussed and approved.
4. The Corporate Governance Report and the Audit Committee Report for the fiscal year ending on 31/12/2023 were read and approved.
5. The report of the external Sharia audit office of the Company for the fiscal year ending on 31/12/2023 was discussed and approved.
6. The Fatwa and Sharia Supervisory Board's report on the Company's business for the fiscal year ending on 31/12/2023 was read and approved.
7. The violations report prepared by the regulatory authorities and fines imposed on the Company for the fiscal year ending on 31/12/2023 were reviewed.
8. The Board of Directors recommendation not to distribute dividends to the shareholders of the Company for the fiscal year ending 31/12/2023 was approved.
9. The Board of Directors recommendation not to pay remuneration to the members of the Board of Directors for the fiscal year ending on 31/12/2023 was approved.
10. The Board of Directors recommendation not to deduct any amount towards the Company's compulsory reserve and voluntary reserve for the fiscal year ending on 31/12/2023 was approved.

1. The Board of Directors recommendation to write-off all of the Company's accumulated losses as of 31/12/2023, amounting to KD 2,255,632 (Only two million two hundred and fifty-five thousand six hundred and thirty-two Kuwaiti dinars) against the voluntary reserve account was approved.
2. The related parties report regarding transactions that took place during the fiscal year ending on 31/12/2023 was reviewed and approved, and the Board of Directors was authorized to continue to transact with related parties until the date of the Ordinary General Assembly for the fiscal year that ends on 31/12/2024.
3. Authorizing the Board of Directors to execute all necessary agreements with local and foreign banks and financial institutions in order to fund the Company's operations and authorizing the Board of Directors to transact with local and foreign banks and financial institutions in accordance with the Company's activities was approved.
4. The Fatwa and Sharia Supervisory Board decision to pay Sharia Zakat for the fiscal year ended on 31/12/2023, amounting to KD 37,367.230 (only thirty-seven thousand three hundred sixty-seven Kuwaiti Dinars and 230 fills) was approved.
5. Authorizing the Board of Directors to manage the Sharia Zakat funds and determine the avenues of disbursement under the Sharia supervision of the Fatwa and Sharia Supervisory Authority was approved.
6. Authorizing the Board of Directors to buy or sell the Company's shares, provided that the Company shall not own more than 10% of its shares in accordance with Law No. (7) of 2010 and its executive bylaws and amendments was approved.
7. Authorizing the Board of Directors to issue Sukuk in Kuwaiti Dinars or any other currency it deems appropriate for a maximum not exceeding the legal limit authorized by law or its equivalent in foreign currencies and authorize the Board of Directors to determine the type of Sukuk, term, due date, and applicable terms and conditions after obtaining approval from relevant regulatory bodies was approved.
8. The release and discharge of the members of the Board of Directors from all matters related to their financial, legal, and administrative actions during the fiscal year ending on 31/12/2023 was approved.
9. The re-appointment of the Company's external auditors for the fiscal year that ends on 31/12/2024 was approved, for the following Partners:
10. • Dr. Shuaib Abdullah Shuaib - Licensed Auditor Class A No. 33 Al-Bazie and Partners (RSM).
    • Mr. Qais Mohammed Al-Nisf - Licensed Auditor Class A No. 38 Al-Nisf & Partners (BDO).
      and the Board of Directors was authorized to determine their fees.
11. Approval to re-appoint Osol for Sharia Advisory Company to be the Company's external Sharia audit office for the fiscal year that ends on 31/12/2024 and authorize the Board of Directors to determine their fees.

21. Approval to re-appoint the Fatwa and Sharia Supervisory Board members for the fiscal year that ends on 31/12/2024 and authorize the Board of Directors to determine their fees.

Members of the Fatwa and Sharia Supervisory Board being re-appointed:

• Sheikh Dr. Naif Mohammad Al-Ajmi.
• Sheikh Nazem Mohammad Al-Musbah.
• Sheikh Prof. Sulieman Maraafie Safar.
• Sheikh Dr. Khaled Shojaa Al-Otaibi.
• Sheikh Prof. Ibrahim Abdullah Al-Subei

Significant effect of the material information on the financial position of the Company

Saad Sami Al Bader

Acting Chief Executive Officer