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Saudi Basic Industries Corporation (SABIC) announces Resignations and Appointments of three Board Members

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Introduction Saudi Basic Industries Corporation (SABIC) announces the Board approval of resignations and appointments of three Board Members in its meeting held on Tuesday 24 Shawwal 1441 corresponding to June 16, 2020. The resignations and appointments shall take effect from the time of approval. The rationale behind the resignations is completion of Saudi Aramco acquisition of Public Investment Fund (PIF) stake in (SABIC).

The Board also approves the appointment of Mr. Khalid Al-Dabbagh as Chairman of SABIC Board of Directors effective on 24 of Shawwal 1441 corresponding to June 16, 2020.

The Board would like to express its sincere appreciation and gratitude toward Dr. Abdulaziz Saleh Aljarbou for leading the Board effectively during his tenure, wishing him health and wellness, as well as, other Board Members for their outmost efforts and effective contribution during their membership.

Element ListExplanation
Resigning Member Name Dr. Abdulaziz Saleh Aljarbou
Membership Type Non- Executive
Resignation Submission Date 2020-06-16 Corresponding to 1441-10-24
Resignation Acceptance Date 2020-06-16 Corresponding to 1441-10-24
Resignation Effective Date 2020-06-16 Corresponding to 1441-10-24
Membership Starting Date for the Resigning Member 2019-04-10 Corresponding to 1440-08-05
Reasons of Resignation Completion of Saudi Aramco acquisition of Public Investment Fund (PIF) stake in (SABIC).
Element ListExplanation
Resigning Member Name Mr. Roberto Gualdoni
Membership Type Non- Executive
Resignation Submission Date 2020-06-16 Corresponding to 1441-10-24
Resignation Acceptance Date 2020-06-16 Corresponding to 1441-10-24
Resignation Effective Date 2020-06-16 Corresponding to 1441-10-24
Membership Starting Date for the Resigning Member 2019-04-10 Corresponding to 1440-08-05
Reasons of Resignation Completion of Saudi Aramco acquisition of Public Investment Fund (PIF) stake in (SABIC).
Element ListExplanation
Resigning Member Name Mr. Rashid Ibrahim Sharif
Membership Type Non- Executive
Resignation Submission Date 2020-06-16 Corresponding to 1441-10-24
Resignation Acceptance Date 2020-06-16 Corresponding to 1441-10-24
Resignation Effective Date 2020-06-16 Corresponding to 1441-10-24
Membership Starting Date for the Resigning Member 2019-04-10 Corresponding to 1440-08-05
Reasons of Resignation Completion of Saudi Aramco acquisition of Public Investment Fund (PIF) stake in (SABIC).
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Appointed Member Name Mr. Khalid Hashim Al-Dabbagh
Membership Type Executive
Membership Start Date 2020-06-16 Corresponding to 1441-10-24
Brief Resume of the Appointed Member Mr. Khalid Hashim Al-Dabbagh has extensive experience in the managerial and financial field, and he currently holds the position of Senior Vice President for Finance, Strategy and Development at Saudi Aramco. He holds a Bachelor's degree in Industrial Engineering from the University of Toledo in the United States.
Element ListExplanation
Appointed Member Name Mr. Olivier Gerard Thorel
Membership Type Non- Executive
Membership Start Date 2020-06-16 Corresponding to 1441-10-24
Brief Resume of the Appointed Member Mr. Olivier Gerard Thorel has extensive experience in the field of petrochemicals and business development, and he currently holds the position of Vice President of Chemicals at Saudi Aramco. He holds a Diplome d’Ingenieur (Master equivalent) degree in science and economics from the University of Ecole Polytechnique from France.
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Appointed Member Name Mr. Ziad Thamer Al-Murshed
Membership Type Non- Executive
Membership Start Date 2020-06-16 Corresponding to 1441-10-24
Brief Resume of the Appointed Member Mr. Ziad Thamer Al-Murshed has extensive experience in international operations and energy and petrochemical fields. He is currently the Vice President of International Operations at Saudi Aramco. He holds a Bachelor's degree in Chemical Engineering from Arizona State University, and Master in Business Administration (MBA) from Massachusetts Institute of Technology (MIT).
Element ListExplanation
Date of Board Meeting in which Appointed New Member(s) were Appointed 2020-06-16 Corresponding to 1441-10-24
Board Approval Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval.

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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