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ARAB NATIONAL BANK ANNOUNCES THE EXTENSION OF INSURANCE POLICIES OF A RELATED PARTY

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Arab National Bank (ANB) announces finalizing the extension of Property All Risk policy with face amount of SR 2,644,401,702 and Comprehensive General Liability Policy with face amount of SR 50,000,000 and Property Terrorism Policy with face amount of SR 75,000,000 and Group Life and Disability insurance Policy for ANB employees with face amount of SR 769,250,000 with a total premium of SR 211,785.65 , with METLIFE-AIG-ANB cooperative insurance company. The proposals have been accepted on 01/08/1438 corresponding to 27/04/2017 . The duration of extension is one month with effect from May 01, 2017 and renewable based on mutual agreement thereafter. The Board member Robert Eid and Mr. Nizar Al Twaijri have direct interest in the policy as they are representatives of Arab National Bank in the Board of Directors of METLIFE-AIG-ANB cooperative insurance company. The Bank hereby confirms that no preferential treatment was given on these policies and they are within the usual business activity of the Bank. These policies were approved within the text of the related party transactions by the Extraordinary meeting of the General Assembly held on March 23, 2017.

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