Yanbu approves BOD recommendation to distribute SAR 703 mln cash dividends for Q2 of 2022

Yanbu National Petrochemical Company (YANSAB) announced on Wednesday the results of the 15th Ordinary General Assembly meeting (First meeting) on 07/03/2023 through modern technology means

Voting Results:

1. Approve the External Auditor Report for the fiscal year ended on 31 December 2022.

2. The Financial Statements for the fiscal year ended on 31 December 2022 was viewed and discussed.

3. The Board of Directors Report for the fiscal year ended on 31 December 2022 was viewed and discussed.

4. Approve the appointment of Price waterhouse Coopers International Limited Company (PWC) as the External Auditor for the Company from among the candidates nominated based on the recommendation of Audit Committee to review and audit financial statements of the second quarter, third quarter and the annual of the fiscal year 2023, in addition to first quarter 2024 financial statements, and determining the fees.

5. Approve the discharge of the Board of Directors members for the fiscal year ended 31 December 2022.

6. Approve the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2022 with total amount (SAR 703,125,000) at SAR 1.25 per share, which represents 12.5% of par value. Eligibility for the second half dividends of the year will be to the shareholders registered in the Company’s share registry at the Depository Center at the end of the second trading day following Ordinary General Meeting date, the distribution day will start from Sunday 26 March 2023.

7. Approve the election of the Board of Directors’ members for the next Board term of three years starting on 16/03/2023 and ending on 15/03/2026. They are :

1.Eng. Abdulrahman Ahmed Shamsaddin (Non-Executive member)

2.Eng. Sameeh Suleman Al-Sahafi (Non-Executive member)

3.Mr. Abdullah Abdulmonem Al-Sinan (Non-Executive member)

4.Eng. Abdullah Saif Al-Arifi (Non-Executive member)

5.Mr. Ibrahim M. Al-Saif (Independent member)

6.Eng. Awad Mohammed Al-Maker (Independent member)

7.Mr. Khalid B. Al-Rabiaah (Independent member)

8. Approve on the formation of the Audit Committee, defining its duties, working procedure and members’ remuneration for the new term of three years – starting on 16/03/2023 and ending on 15/03/2026, They are:

•Mr. Ibrahim Mohammed Al-Saif

•Mr. Abullah Abdulmonem Al-Sinan

•Dr. Ahmed Abdullah Al-Meghames

9. Approve authorizing the Board of Directors to distribute interim dividends, semi-annual or quarterly for the fiscal year 2023.