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Savola Group Announcess The Savola Group announces the appointment of the Chairman, Vice Chairman, and Committees Formation

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Announcement Detail Reference to the company extraordinary General Assembly meeting held on Wednesday, 8/5/2019, corresponding to 3/9/1440, in which the new Board of Directors for the new office term started on 1/7/2019 were elected for a period of three years ending on 30/6/2022,

The Savola Group announces that its new Board resolved on 1/7/2019 the following:

First: The appointment of Mr. Sulaiman A. Al Muhaidib as Chairman of the Board (Non-executive).

Second: The appointment of Mr. Bader A. Al Issa as Vice Chairman of the Board (Non-executive).

Third: Formation of the Remuneration Nomination, and Corporate Governance Committee (RNCG) from the following members:

1) Mr. Rakan A. Al Fadel (Independent Board Member) as Chairman of the Committee.

2) Mr. Bader A. Al Issa (Non-executive Board Member) as Member.

3) Mr. Essam A. Al Muhaidib (Non-executive Board Member) as Member.

4) Mr. Abdulrhman Ramzi Addass (Independent Board Member) as Member.

5) Mr. Johan Brand (external expert) as Member.

Fourth: Formation of the Investment Committee from the following members:

1) Eng. Mutaz Qusai Alazawi (Non-executive Board Member) as Chairman of the Committee.

2) Mr. Abdulaziz K. Al Ghufaily (Non-executive Board Member) as Member.

3) Mr. Fahad A. Al Kassim (Independent Board Member) as Member.

4) Mr. Adnan A. Sofi (Non-executive Board Member) as Member.

5) Mr. Mohammad Ibrahim Al Issa (Independent Board Member) as Member.

Fifth: Formation of Corporate Social Responsibility (CSR) Committee from the following members:

1) Mr. Abdulrhman Ramzi Addass (Independent Board Member) as Chairman of the committee.

2) Mr. Fahad A. Al Kassim (Independent Board Member) as Member.

3) Eng. Abdullah M.N. Rehaimi (external expert) as Member.

4) Eng. Anees Ahmed Moumina (Group CEO) as Member.

It is worth mentioning that, these resolutions are effective from the commencement of the new Board office term started on 1/7/2019 and will last for a period of three years.

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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