05 March 2021

After compliments,

Board Resolution: The Board of Directors of Majan Glass Company SAOG, listed on MSX, has decided in its meeting on 05 March 2026 and agreed on a decision regarding Dividend Distribution Policy.

Subject: Dividend Distribution Policy

This Dividend Distribution Policy (“Policy”) is issued by the Board of Directors of Majan Glass Company SAOG in accordance with the Muscat Stock Exchange (MSX) Circular No (03/2025) dated 5 February 2025

1.Objectives of the Policy

This Policy aims to:

·         Ensure fair and equitable treatment of all shareholders

·         Align Dividend decisions with the regulatory framework and prudent financial management

·         Enhance disclosure, accountability and governance standards

·         Establish a transparent framework for dividend distribution.

2.Authority and Approval

·         The Board of Directors are responsible for reviewing the Company’s financial results and recommending dividends.

·         Any Dividend distribution shall be approved by shareholders at the Annual General Meeting (AGM).

3. Forms of Distribution

·         Cash Dividends: Dividends payable in cash to shareholders

·         Bonus shares (stock dividends): The Board may recommend issuance of bonus shares subject to:

a.       Availability of distributable reserves or retained earnings as permitted by law

b.      Compliance with Commercial Companies Law and FSA regulations

c.       Regulatory approvals wherever required

·         Bonus shares, if approved, shall be issued proportionately to shareholders based on their shareholding as on the record date.

·         Any other form of dividend distribution permitted by law

4.Dividend Frequency

·         Distribution will generally be considered on an annual basis

·         Interim dividend may be considered if permitted under applicable laws and regulations.

5. Legal and Financial Conditions

No distribution shall be made if it would:

·         affect the Company’s solvency or liquidity

·         breach debt covenant or financial obligation

·         contravene the Companies' Commercial Law or FSA regulation.

6. Factors influencing the dividend decision

The Board will assess the following factors before declaring dividends:

·         Financial Performance

o   Net profit

o   Earnings stability

o   Cash flow generation

·         Cash in hand and Liquidity position

o   Working capital requirement

o   Cash reserves

o   Cash and Cash equivalents

·         Growth strategy

o   Capital expenditure plans

o   Expansion and acquisition

o   Future Growth projects

·         Debt Obligation

o   Outstanding Borrowings

o   Compliance with Covenants

·         Economic and industry conditions

o   Macroeconomic factors: Interest, inflation etc

o   Regulatory changes

·         External Disruptions and unforeseen risks

o   Geopolitical risks: Wars, Political instability

o   Economic sanctions, trade restrictions

o   Product Boycott and reputational risks

o   Pandemics or natural disasters

7. Disclosure Requirements

·         Published on Company’s Website and MSX portal

·         Bilingual presentation (English and Arabic)

·         Clear declaration date, ex-dividend date, record date and payment date

8. Payment and Execution

·         Cash dividend payment within the time frame prescribed by FSA after AGM approval

·         Distribution through Muscat Clearing and Depository

·         Bonus shares credited to shareholders' account

·         Only shareholders registered on the approved record date are entitled to the dividend

9. Legal and Compliance framework

·         Governed by Commercial Companies law and FSA regulations

·         Amendments, if any, to this policy shall be reviewed annually or as required

10. Contact information

For enquiries regarding this policy, shareholders may contact:-