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Saudi Arabian Mining Company (Ma’aden) announces that the resignation of its Chairman and the appointment of a new member to chair its Board of Directors.

Element ListExplanation
Introduction Saudi Arabian Mining Company (Ma'aden) announces the issuance of its Board of Directors resolution dated 28 September2019 to accept the resignation of His Excellency Engineer Khalid Bin Abdulaziz Al-Faleh (Non-Executive member, the Public Investment Fund representative); who submitted it on 27th September 2019, due to his special circumstances, to be effective from the date of submission.

The Board of Directors also approved the appointment of the Public Investment Fund’s candidate, His Excellency Mr. Yaser bin Othman Al-Rumayyan, as a Non-executive Director replacing the resigned member, as well as appointing him as Chairman of the Board of Directors Starting from 28 September 2019 till the end of the current board term on 24 October 2020.

Element ListExplanation
Resigning Member Name His Excellency Engineer Khalid Bin Abdulaziz Al-Faleh
Membership Type Non- Executive
Resignation Submission Date 2019-09-27 Corresponding to 1441-01-28
Resignation Acceptance Date 2019-09-28 Corresponding to 1441-01-29
Resignation Effective Date 2019-09-27 Corresponding to 1441-01-28
Membership Starting Date for the Resigning Member 2017-10-25 Corresponding to 1439-02-05
Reasons of Resignation Special circumstances
Element ListExplanation
Appointed Member Name His Excellency Mr. Yaser bin Othman Al-Rumayyan
Membership Type Non- Executive
Membership Start Date 2019-09-28 Corresponding to 1441-01-29
Brief Resume of the Appointed Member H.E. Al-Rumayyan holds a bachelor’s degree in accounting with more than 25 years' experience in major financial organizations. He is currently the Governor of the Public Investment Fund and a member of its Board of Directors. In addition, he chairs Saudi Aramco’s Board.
Element ListExplanation
Date of Board Meeting in which Appointed New Member(s) were Appointed 2019-09-28 Corresponding to 1441-01-29
Board Approval In accordance with the Company's Articles of Association, the Board's appointment shall be presented to the General Assembly at its first meeting for final approval.
Additional Information Ma'aden Board of Directors expressed its thanks and gratitude to His Excellency Engineer Khalid Al-Faleh for his efforts, valuable contribution and his dedication in achieving the Company’s objectives during his tenure in the Board. Wishing him all the success.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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