In light of the Audit Committee’s Charter approved by the General Assembly, the Savola Group announces that its new Board of directors resolved on 1/7/2019 the appointment of two new members in the Audit committee (their membership starts (on 1/7/2019) and ends with Audit Committee term). This brings the total number of Audit Committee members to five members. The new members are:

1) Mr. Mohammad Ibrahim Al Issa (Independent Board Member)

2) Mr. Bader Hamad Al Rabiah (Independent Board Member)

The Board’s approval appointing the above mentioned two new members is not final, and will be submitted to the upcoming General Assembly meeting for ratification.

It's worth mentioning that Mr. Mohammed Alissa holds a Bachelor Degree in Commerce, from the University of British Columbia, Vancouver, Canada (2006), and he was the Head of Balance Sheet Management and Investment at Saudi British Bank (SABB); he was a member of Savola Group Audit Committee for the previous term. He also served as a Board member of a number of companies such as the Board of Sukoon Real Estate Company Ltd., and Al Aqeeq Real Estate Company. He has extensive experience in financial management, auditing, investments, and capital markets.

Mr. Bader Hamad Al Rabiah holds a Bachelor Degree in Accounting, from Kuwait University, (2003), and he is a member of Kuwait Association of Accountants & Auditors and Kuwait Economic Society. He is also a member of Audit Committee in Mezzan Bank and a member of Audit Committee & Chairman of Risk Management Committee of Noor Financial Investment Co. In addition, he is currently the CEO of Noor Al-Salhiya Real Estate Co. and the Vice Chairman of its Board. He also serves as a Board member of a number of companies that operate in the field of Contracting, Real Estate management, General Trading and investments.

Accordingly, the composition of the Audit Committee will be as follow:

1-Mr. Fahad A. Al Kassim (Independent Board Member) Chairman (appointed by the GA)

2-Dr. Abdul Raouf Banaja (external expert) member (appointed by the GA)

3-Dr. Ammr Khalid Kurdi (external expert) member (appointed by the GA)

4- Mr. Mohammad Ibrahim Al-Issa (Independent Board Member) member.

5- Mr. Bader Hamad Al Rabiah (independent Board member) member.

In this respect, the Board of Directors wishes the new members and the Committee all the success in performing their duties and responsibilities.