Publication date: May 21, 2025 AD

Gulf Real Estate Company, a closed joint-stock company, held its Extraordinary General Assembly meeting on Sunday, 20/11/1446 AH, corresponding to 18/05/2025 AD, at 1:00 PM via Online Meeting.

The shareholders voted on the following agenda items:

1.  Voting on amending Article (15) of the company’s bylaws regarding the formation of the Board of Directors, to reduce the number of board members from nine (9) to five (5) members, effective from 18/05/2025, the start of the new board term.

2. Voting on amending Article (21) of the company’s bylaws regarding the quorum, to reduce the quorum from five members to three members, to align with the reduced number of board members (five).

3. Reviewing and discussing the Board of Directors’ report for the fiscal year ended 31/12/2024.

4. Reviewing and discussing the company’s financial statements for the fiscal year ended 31/12/2024.

5. Discussing the auditor’s report for the fiscal year 2024 and making a decision regarding it.

6. Voting on appointing an external auditor from among the candidates nominated by the Audit Committee to audit the financial statements for the fiscal year 2025 and determining their fees.

7. Voting on discharging the Board of Directors from liability for their actions during the fiscal year 2024.

8. Electing five members to the Board of Directors for the seventh term, starting from 20/11/1446 AH (18/05/2025 AD) for a duration of three years.

9. Voting on distributing cash dividends for the fiscal year 2024 amounting to SAR 26,116,715, at SAR 0.5 per share, equivalent to 5% of the company’s capital, with eligibility for shareholders registered in the company’s records on the date of the assembly.

10. Voting on disbursing SAR 450,000 as remuneration to the Board of Directors for their efforts and work during 2024, at SAR 50,000 per member.

11. Voting on authorizing all Board members to participate in competing or similar activities to the company’s operations.

All agenda items were approved by the shareholders. The General Assembly also elected the Board of Directors for the seventh term, starting from 20/11/1446 AH (18/05/2025 AD) for three years. The elected members are:

1. Mr. Abdulwahab Asaad Abdulaziz AlSand

2. Mr. Mohamed Salah Ahmed Alayoub

3. Mr. Nasir Abdullah Mohamed Albadah

4. Mr. Abdullah bin Abdulmohsen Abdulatif Alissa

5. Mr. Ahmed bin Ibrahim Mohammed bin Saedan