Kingdom Holding Approves 2.8% Dividend Distribution for 2024 and SAR 1.68 Billion Citi Group Share Purchase with AlWaleed Bin Talal

Kingdom Holding Company announced on Tuesday to the shareholders of Kingdom Holding Company the result of the Ordinary General Assembly Meeting (the first meeting), which was held on Monday 03-06-2024 AD at 8:30 pm, which included approval of the Board of Directors’ recommendation dated on 26/03/2024 to distribute cash dividends from the retained earning amounting to (1,037.6) million riyals to shareholders during the year of 2024, amounting to SAR 0.28 per issued share for the whole year, representing 2.8% of the nominal value of the share, and the distribution will be made on a quarterly basis at the rate of 0.7% of the nominal value of the share, at the rate of 7 halalas per quarter for each issued share, for a total of SAR259.4 million per quarter. Eligibility and payments dates are as follows:

First payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 04/12/1445 A.H corresponding to 10/06/2024 and will be paid ten working days after the second trading day following the eligibility date.

Second payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 25/01/1446 A.H corresponding to 31/07/2024 and will be paid ten working days after the second trading day following the eligibility date.

Third Payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 28/03/1446 A.H corresponding to 01/10/2024 and will be paid ten working days after the second trading day following the eligibility date.

Fourth Payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 30/06/1446 A.H corresponding to 31/12/2024 and will be paid ten working days after the second trading day following the eligibility date.

The rest of the voting results on the Assembly’s agenda were as follows:

1- The Board of Directors Report for the fiscal year ending on 31/12/2023, was reviewed and discussed.

2- The Company’s financial statements for the fiscal year ending on 31/12/2023, were reviewed and discussed.

3- Approval of the external auditor report for the fiscal year ending on 31/12/2023, after discussion.

4- Approved to absolve the members of the Board of Directors from liability for the year ended 31 December 2023.

5- Approved on the transaction of purchase of Citi Group shares between Kingdom Holding Company and the company’s chairman, HRH Prince Alwaleed bin Talal bin Abdulaziz al Saud, at the value of SAR 1,685,868,750 (USD 449,565,000) without preferential terms.

6- Approval of the election of the Board of Directors members among the candidates for the next session which begins on 05/06/2024 G and its duration is three years ending on 04/06/2027 G, the following members were elected who obtained the highest votes from the nominees list:

1) HRH Prince AlWaleed Bin Talal Bin Abdulaziz AlSaud

2) Abdulmajid Ahmed Al-Haqbani

3) Dr. Lama Abdulaziz AlSuliman

4) Eng. Talal Ibrahim AlMaiman

5) Sarmad Zok

6) Adel Abdulaziz AlAbdulsalam

7) Hisham Sulaiman Alhabib

8) Reem Mohammed Assad

9) Tamim Bassam Mahmoud Jabr

7- Approved the appointment of PricewaterhouseCoopers Public Accountants from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third quarters and the annual financial statements for the fiscal year of 2024 and the first quarter of the fiscal year 2025, and the total fees 4,050,000 SAR excluding VAT.

8- Approved on the disbursement of an amount of six hundred thousand Saudi Riyal (SAR 600,000) being the remuneration of the Independent Directors of Board with an amount of two hundred thousand Saudi Riyal (SAR200,000) for each member. for the fiscal year ending on December 31, 2023 AD.

9- Approved to authorize the Board of Directors to distribute interim cash dividends on a semi-annual or quarterly basis for the fiscal year 2024.