SEC to Discuss Transferring SAR 7.7 Billion Reserve Balance to Retained Earnings on April 16

The Board of Directors of the Saudi Electricity Company has called upon shareholders to participate in and vote at the 10th Extraordinary General Assembly Meeting (first meeting) scheduled for 7:00 p.m. on Tuesday, April 16, 2024. The meeting will be conducted virtually via modern technology means. The agenda includes voting on the transfer of the statutory reserve balance of 7.1 billion riyals, as reported in the financial statements for the year ending December 31, 2022, to retained earnings.

General Assembly Meeting Agenda:

• Voting on transferring the balance of the general reserve amounting to SAR 702,343,122.73 (seven hundred two million three hundred forty-three thousand one hundred twenty-two Saudi riyals and seventy-three halalas) as per the financial statements for the year ended on December 31, 2022.

• Voting on amending the Remuneration Policy for Members of the Board, its committees, and the Executive Management.

Each shareholder registered at the end of the trading session preceding the General Assembly meeting in the Company’s Shareholders Register maintained at the Depository Center is eligible to attend the General Assembly meeting according to the rules and regulations.

An Extraordinary General Assembly meeting will be considered valid only if attended by shareholders representing at least half of the Company’s voting shares. Should the required quorum for an Extraordinary General Assembly meeting not be met, a second meeting will be called under the same conditions stipulated in Article (91) of the Companies Law within thirty (30) days following the date set for the first meeting.

Shareholders have the right to discuss the topics listed on the General Assembly’s agenda and ask questions. Shareholders registered in Tadawulaty services may vote remotely on the items of the General Assembly agenda starting from 01:00 a.m., Saturday, April 13, 2024, until the conclusion of the General Assembly meeting. Registration and voting on Tadawulaty will be available and free of charge for all shareholders via this [link]( www.tadawulaty.com.sa).