BECO Steel : Certified Resolution passed by Shareholders in their Annual General Meeting held on 30.12.2023

December 30, 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building, Stock Exchange Road,

Karachi

CERTIFIED COPY OF ORDINARY RESOLUTIONS PASSED BY THE

SHAREHOLDERS

Dear Sir,

Pursuant to the provision of Regulation No. 5.6.9(b) of the Rule Book of Pakistan Stock Exchange Limited "PSX", please find enclosed herewith certified copies of Ordinary Resolutions passed by the shareholders in their meeting Annual General Meeting held on December 30, 2023 for your record.

You may please inform the TRC Certificate Holders of the Exchange accordingly.

Thanking you,

Yours' faithfully,

For BECO STEEL LIMITED

Company Secretary

Encl: As above

1. The Director / HOD
   (Surveillance, Supervision and Enforcement Department),
   Securities & Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Blue Area, Islamabad

THE FOLLOWING ORDINARY RESOLUTION PASSED AND ADOPTED BY THE SHAREHOLDERS OF BECO STEEL LIMITED IN THEIR ANNUAL GENERAL MEETING HELD ON SATUDARY, DECEMBER 30, 2023 AT 11:30 AM AT ROYAL PALM COUNTRY & GOLF CLUB, LAHORE

ORDINARY BUSINESS

1. To confirm the minutes of the Extraordinary General Meeting of the members held on July 10, 2023.
   "RESOLVED THAT the minutes of Extraordinary General Meeting of shareholders of the Company held on July 10, 2023, be and is hereby unanimously approved and confirmed by the shareholders present in the meeting".
2. To receive, consider and adopt the Audited Financial Statements of the Company for the year ended June 30, 2023, together with the Chairman's Review Report, Directors' Report and Auditors Reports thereon.
   "RESOLVED THAT the Annual Audited Accounts of the Company for the year ended June 30, 2023, together with the Chairman's Review Report, Directors' Report and Auditors Reports thereon be and are hereby approved and adopted by the Shareholders unanimously".
3. To appoint External Auditors of the Company for the year ending June 30, 2024, and to fix their remuneration. The shareholders are hereby notified that the Audit Committee and the Board of Directors have recommended the name of M/s Sheikh & Chaudhari & Co. Chartered Accountants for appointment as auditors of the Company for the next year 2024.
   "RESOLVED THAT the external auditor M/s Sheikh & Chaudhari & Co. Chartered Accountants be and is hereby appointed as External Auditors of the Company to conduct the Half Yearly review and Annual Audit for the year ending June 30, 2024, and fixed their remuneration as recommended by the Audit Committee as well as the Board".

SPECIAL BUSINESS

1. To ratify and approve arm's length transactions carried out with associated companies/ undertakings in the normal course of business in accordance with Section 208 of the Companies Act 2017:
   RESOLVED THAT, the related party transactions carried out in the normal course of business with associated companies/undertakings as disclosed in respective notes to the Audited Financial Statements for the year ended June 30, 2023, be and are hereby ratified, approved and confirmed.
   FURTHER RESOLVED THAT, the Chief Executive officer of the Company be and is hereby authorized to approve all related party transactions carried out in the normal course of business with associated companies/ undertakings during the year ended June 30, 2024 and in this regard the Chief Executive Officer be and is hereby also authorized to take any and all necessary actions and sign/execute any and all documents/indentures as may be required on behalf of the Company.
2. Any Other business with the permission of the Chairman of the Meeting.
   There was no further business discussed during the meeting, and the meeting ended with a vote of thanks.

Company Secretary

Certified to be true copy.

Beco Steel Limited