Saudi Pipes GA Approves Mohammed Al Shayea Appointment as Chairman of BOD and Carlos Ferreyra as Vice- Chairman

Saudi Steel Pipes Company announced on Wednesday the meeting of its new Board of Directors which was held on Tuesday 7/6/2022 and which approved the following resolutions:

First: Appoint Mr. Mohammed AbdulAziz AbdulRahman Al Shayea as Chairman of the Board (Non-Executive)

Second: Appoint Mr. Carlos A. Ferreyra as Vice Chairman of the Board (Non-Executive)

Third: Appoint Mr. Mariano Armengol Lamazares as Managing Director effective from 7/6/2022 and until 6/6/2025 and CEO from 7/6/2022, noting that his previous term as the Managing Director and CEO has ended on 6/6/2022 pursuant to the Company’s previous board resolution dated 10/6/2019.

Fourth: Appoint Mr. Carlos A. Ferreyra as secretary of the Board.

The formation of the Audit Committee and the determination of its tasks, work rules and the rewards of its members were approved during the Ordinary General Assembly meeting held on 24/05/2022, which starts from 07/06/2022 and for a period of three years ending on 06/06/2025.