The following explanation will cover the relevant financial information reflected in the announcement above along with an explanation on the new presentation of the financial results, which is attached to this announcement.

The decrease in profit before zakat and income tax for the current quarter of SR 87,567K, a decrease of 21.07% compared with same quarter of the previous year was due to the following main reasons:

• Decrease in insurance service result of SR 49,197K compared with the same quarter of the previous year, a decrease of 16.06%. This was driven by an increase in insurance service expense of SR 778,225K, an increase of 25.52 % and an increase in net expenses from reinsurance contracts held of SR 847K, an increase of 13.09%, which was partially offset by an increase in insurance revenue of SR 729,875K, an increase of 21.71% driven by business growth.

• Decrease in net investment income of SR 33,883K compared with the same quarter of the previous year, a decrease of 19.34%.

• Increase in net other operating expenses of SR 4,897K compared with the same quarter of the previous year, an increase of 6.32%.

These unfavorable movements were partially offset by the following:

• Increase in other revenue, net of other costs, of SR 410K compared with the same quarter of previous year, an increase of 3.49%.

Net income attributed to the shareholders after zakat and income tax for the current quarter is SR 275,350K compared to SR 359,478K for the same quarter of the previous year, a decrease of 23.40%.

Total comprehensive income for the current quarter is SR 225,027K compared to SR 232,891K for the same quarter of the previous year, a decrease of 3.38%.

Moreover, Gross Written Premiums (GWP) increased by SR 439,918K compared with the same quarter of the previous year, an increase of 10.53%.

The following explanation will cover the relevant financial information reflected in the announcement above along with an explanation on the new presentation of the financial results, which is attached to this announcement.

The decrease in profit before zakat and income tax for the current quarter of SR 104,210K, a decrease of 24.11% compared with previous quarter was due to the following main reasons:

• Decrease in insurance service result of SR 114,974K compared with the previous quarter, a decrease of 30.91%. This was driven by an increase in insurance service expense of SR 326,596K, an increase of 9.33%, which was partially offset by an increase in insurance revenue of SR 207,563K, an increase of 5.34% driven by business growth and a decrease in net expenses from reinsurance contracts held of SR 4,059K, a decrease of 35.67%.

• Increase in net other operating expenses of SR 5,908K compared with the previous quarter, an increase of 7.72%.

• Decrease in other revenue, net of other costs, of SR 1,575K compared with the previous quarter, a decrease of 11.48%.

These unfavorable movements were partially offset by the following:

• Increase in net investment income of SR 18,247K compared with the previous quarter, an increase of 14.82%.

Net income attributed to the shareholders after zakat and income tax for the current quarter is SR 275,350K compared to SR 371,350K with the previous quarter, a decrease of 25.85%.

Total comprehensive income for the current quarter is SR 225,027K compared to SR 349,442K with the previous quarter, a decrease of 35.60%.

Moreover, Gross Written Premiums (GWP) increased by SR 736,158K compared with the previous quarter, an increase of 19%.

The following explanation will cover the relevant financial information reflected in the announcement above along with an explanation on the new presentation of the financial results, which is attached to this announcement.

The increase in profit before zakat and income tax for the current period of SR 196,832K, an increase of 24.80% compared with same period of previous year was due to the following main reasons:

• Increase in insurance service result of SR 232,013K compared with the same period of previous year, an increase of 41.02%. This was driven by an increase in insurance revenue of SR 2,274,609K, an increase of 24.06% driven by business growth and a decrease in net expenses from reinsurance contracts held of SR 7,206K, a decrease of 24.48%, which was partially offset by an increase in insurance service expense of SR 2,049,802K, an increase of 23.14%.

• Increase in net investment income of SR 1,631K compared with the same period of previous year, an increase of 0.45%.

• Increase in other revenue, net of other costs, of SR 30,503K compared with the same period of previous year, an increase of 259.8%.

These favorable movements were partially offset by the following:

• Increase in net other operating expenses of SR 67,315K compared with the same period of previous year, an increase of 45.24%.

Net income attributed to the shareholders after zakat and income tax for the current period is SR 835,296K compared to SR 658,874K with the same period of previous year, an increase of 26.78%.

Total comprehensive income for the current period is SR 778,720K compared to SR 444,629K with the same period of previous year, an increase of 75.14%.

Moreover, Gross Written Premiums (GWP) increased by SR 2,505,775K compared with the same period of previous year, an increase of 21.98%.

Refer to the attachment for further details on the financial results items that are relevant under the newly implemented financial reporting standards for insurance companies.

The earnings per share (EPS) for the current quarter is SR 1.86 per share versus SR 2.41 per share for the same quarter of the previous year which is calculated by dividing the net income amount of SR 275,350K over the weighted average number of ordinary outstanding shares of 147,970K for the current quarter and SR 359,478K over 149,345K shares for the same quarter of the previous year.

The earnings per share (EPS) for the current period is SR 5.59 per share versus SR 4.41 per share for the same period of the previous year which is calculated by dividing the net income amount of SR 835,296K over the weighted average number of ordinary outstanding shares of 149,502K for the current period and SR 658,874K over 149,323K shares for the same period of the previous year.

Total Shareholders’ Equity (no minority interest) as at end of current period is SR 4,523 million versus SR 4,138 million as at end of the same period in the previous year, an increase of 9.29%.

Total Equity as at end of current period is SR 4,474 million versus SR 4,110 million as at end of the same period in the previous year, an increase of 8.86%.