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 profits before zakat and income tax for the quarter of SR 157,801K, an increase of 57.49% compared with same quarter of the previous year was due to the following main reasons:

• Increase in insurance service result of SR 181,253K compared with the same quarter of the previous year, an increase of 95.01%. This was driven by an increase in insurance revenue of SR 743,314K, an increase of 23.66%, which was partially offset by an increase in insurance service expense of SR 557,789K, an increase of 18.95%, and an increase in net expenses from reinsurance contracts held of SR 4,272K, an increase of 60.12%.

• Increase in net investment income of SR 15,546K compared with the same quarter of the previous year, an increase of 14.46%.

• Increase in other revenue, net of other costs, of SR 13,724K compared with the same quarter of the previous year.

These favorable movements were partially offset by the following:

• Increase in net other operating expenses of SR 52,722K compared with the same quarter of the previous year, an increase of 221.47%.

Moreover, Gross Written Premiums (GWP) increased by SR 878,816K compared with the same quarter of the previous year, an increase of 29.28%.

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 profits before zakat and income tax for the quarter of SR 202,168K, an increase of 87.85% compared with previous quarter was due to the following main reasons:

• Increase in insurance service result of SR 203,540K compared with the previous quarter, an increase of 120.81%. This was driven by an increase in insurance revenue of SR 134,601K, an increase of 3.59% and a decrease in insurance service expense of SR 76,786K, a decrease of 2.15%, which was partially offset by an increase in net expenses from reinsurance contracts held of SR 7,847K, an increase of 222.23%

• Increase in net investment income of SR 20,647K compared with the previous quarter, an increase of 20.16%.

These favorable movements were partially offset by the following:

• Increase in net other operating expenses of SR 19,374K compared with the previous quarter, an increase of 33.90%.

• Decrease in other revenue, net of other costs, of SR 2,645K compared with the previous quarter, a decrease of 16.16%.

Moreover, Gross Written Premiums (GWP) decreased by SR 1,529,364K compared with the previous quarter, a decrease of 28.27%.

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 profits before zakat and income tax for the period of SR 284,399K, an increase of 75.23% compared with same period of previous year was due to the following main reasons:

• Increase in insurance service result of SR 281,210K compared with the same period of previous year, an increase of 108.45%. This was driven by an increase in insurance revenue of SR 1,544,734K, an increase of 25.36% and a decrease in net expenses from reinsurance contracts held of SR 8,053K, a decrease of 35.07%, which was partially offset by an increase in insurance service expense of SR 1,271,577K, an increase of 21.89%.

• Increase in net investment income of SR 35,514K compared with the same period of previous year, an increase of 18.69%.

• Increase in other revenue, net of other costs, of SR 30,093K compared with the same period of previous year.

These favorable movements were partially offset by the following:

• Increase in net other operating expenses of SR 62,418K compared with the same period of previous year, an increase of 87.59%.

Moreover, Gross Written Premiums (GWP) increased by SR 2,065,857K compared with the same period of previous year, an increase of 28.60%.

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 2.48 per share versus SR 1.60 per share for the same quarter of the previous year which is calculated by dividing the net income amount of SR 371,350K over the weighted average number of ordinary outstanding shares of 149,596K for the current quarter and SR 239,116K over 149,340K shares for the same quarter of the previous year.

Total comprehensive income for the current quarter is SR 349,442K compared to SR 168,983K for the same quarter of the previous year, an increase of 106.79%.

Total Shareholders’ Equity (no minority interest) as at end of current period is SR 4,278 million versus SR 3,869 million as at end of the same period in the previous year, an increase of 10.58%.