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Nayifat Finance company Announces the election of Board Chairman and Vice Chairman, appointment the Managing Director and CEO, Board Secretary, the formation of committees, and the appointment of company's representatives to the Capital Market Authority (CMA), Saudi Exchange (Tadawul) and Edaa Center.

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Announcement Detail Referring to the results of the Extraordinary General Assembly of the company on September 25, 2022, which included the approval of the election of the Board of Directors for the new session, which begins on September 25, 2022 and ends on September 24, 2025 for a period of three years.

The Board of Directors of Nayifat finance Co. is pleased to announce the decision of its Board of Directors, on 30/02/1444 corresponding to 26/09/2022 to elect the Board Chairman and Vice Chairman, appointment the Managing Director and CEO for the company, Board Secretary and the formation of committees for the new session, as follow:

1- The election of Mr. Saleh Nasser Suleiman Al Omair (Independent) as a chairman of the Board of Directors.

2- The election of Mr. Abdulmohsen Mohammed Abdulrahman Al-Saleh (Non-Executive) as a vice chairman of the Board of Directors.

3- Appointment of Mr. Bandar Mohammed Ahmed Al-Baiz (Non-Executive) as a Managing Director and CEO of the company.

4- Appointment of Secretary of the Board of Directors and the formation of committees of the Board (Executive Committee - Nomination and Remuneration Committee - Risk Management Committee - Credit Committee - Assets and Liabilities Committee - Strategic Committee)

All appointments above, subject to the approval and no-objection of the Saudi Central Bank.

It should also be noted that the formation of both Audit Committee and Shareaa Committee was approved in accordance with the results of the Extraordinary General Assembly held on 25/09/2022 for a period of 3 calendar years.

In addition to that, representatives of the company were also appointed to the Capital Market Authority (CMA), Saudi Exchange (Tadawul) and Securities Depository Center Company (Edaa), for all purposes related to the application of the Capital Market Law and its Executive Regulations.

A brief Resume of the Appointed Managing Director and Chief Executive Officer:

Name: Mr. Bandar Mohammed Ahmed Al-Baiz.

Mr. Bander is currently as a Head of Operations Dept. at Yaqeen Capital (a joint stock company working in the field of financial services) since 2014, he holds a Bachelor of Accounting from King Saud University in 2001, and he has a good experience exceeding 20 years through his work in the banking and non-banking sector.

Appointment Type: Appointment

Date of Board Resolution: 30/02/1444 corresponding to 26/09/2022

Date Work Commencement: Date of obtaining the no-objection of Saudi Central Bank

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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