Al Alamiya for Cooperative Insurance Company announces the signature of an agreement with Riyad Bank )a related party) on 1/8/1438 H corresponding to 27/4/2017G to provide insurance coverage on the mortgage program of the Bank to its customers for a period of one year starting from 05/08/1438H corresponding to 01/05/2017G on market terms.

The company expects for this agreement have a positive financial impact on its sales as it will generate approximatively 23,079,097 Saudi Riyals in total gross written premium during its term.

Mr. Khalid Hariry and Mr. Oussama Boukhari have a direct interest in the agreement as they are representatives of Riyad Bank in the Company Board.

The agreement has been signed through Riyad Company for Insurance Agency (a subsidiary of Riyad Bank) and one of the agencies of Al Alamiya for Cooperative Insurance Company and an estimated total commission amount of 3,461,865 Saudi Riyals will be paid to the agency as per the agreement signed on 20/09/1434H corresponding to 29/07/2013G. The Board Member Mr. Khalid Hariry has interest in the transaction as a member of the Directors Committee of the Riyad Company for Insurance Agency and representative of Riyad Bank in the Company Board.

The company confirms that this policy has been issued within the usual course of company business and no preferential treatment was given.