Saudi Arabian Refineries Company (SARCO) announces the appointment of the chairman and his deputy, the executive management, and the formation of the board committees for the new session

May 4, 2021

Element List	Explanation
Announcement Detail	Referring to the results of the company’s fiftieth ordinary general assembly meeting, which were announced in (Tadawul Al-Saudi Arabia) on 22/04/2021 AD, which includes approval of the election of the Board of Directors for the new session that begins on 01/05/2021 AD and ends on 04/04/2024 AD 30 m for three years. Accordingly, the members of the Board of Directors met on Sunday 20/09/1442 AH corresponding to 02/05/2021 AD and deliberated on the formation of the members of the Board, and the decisions were signed on Monday 09/21/1442 AH corresponding to 03/05/2021 AD according to the following: First: Electing the Chairman and Vice President of the Board of Directors as follows: – 1. Appointment of Mr. Suleiman bin Saad Al-Hamid (non-executive) as Chairman of the Board of Directors 2. The appointment of Eng. Iyad bin Muhammad Shaikh (Independent) as Vice Chairman of the Board of Directors. Second: Appointing Eng. Hattan Bin Hamid Al-Shanbari (Executive) as the Managing Director Third: Appointing Mr. Fahad Abdulrahman Al-Moaikel (Executive), the Executive Director of the Department. Fourth: Approval of the formation of the Investment Committee for the new session, which begins its work on 01/05/2021 for a period of three years, and ends on 04/30/2024 AD, and to appoint the following members: • Mr. Maqid Bin Ibrahim Al-Otaibi – Independent (Chairman of the Committee) • Prince / Mohammed bin Khalid bin Turki Al Saud – Independent (Member) • Engineer / Iyad bin Mohammed Sheikh – Independent (Member) • Mr/ Fahd bin Abdulrahman Al-Moaikel – Executive (Member) • Mr. Yasser Bin Sulaiman Al-Aqeel – Independent (Member) Fifth: Approval of the formation of the Nomination and Remuneration Committee for the new session, which begins its work on 01/05/2021 for a period of three years, and ends on 04/30/2024 AD, and to appoint the following members, their names: • Prince / Mohammed bin Khalid bin Turki Al Saud – Independent (Chairman of the Committee) • Dr. Ali Bin Saleh Khebti – Non-Executive (Member) • Mr. Maqid Bin Ibrahim Al-Otaibi – Independent (Member) Sixth: Approve the formation of the Audit Committee for the new session by the Board of Directors. 04/30 m and powers adopted previously, and the names of the members are as follows: • Mr. Yasser bin Sulaiman Al-Aqeel – Independent (Chairman of the Committee). • Professor / Khalid bin Abdulaziz Al Hoshan (member outside the council). • Mr. Bin Adnan Abulfrj (member outside the Council . Seventh: Representatives of the company have been appointed to the Capital Market Authority and the Saudi Stock Exchange Company (Tadawul) for all purposes related to the application of the financial market system and its implementing regulations, and the appointment of a secretary of the board of directors.

Element List

Explanation

Announcement Detail

Referring to the results of the company’s fiftieth ordinary general assembly meeting, which were announced in (Tadawul Al-Saudi Arabia) on 22/04/2021 AD, which includes approval of the election of the Board of Directors for the new session that begins on 01/05/2021 AD and ends on 04/04/2024 AD 30 m for three years.
Accordingly, the members of the Board of Directors met on Sunday 20/09/1442 AH corresponding to 02/05/2021 AD and deliberated on the formation of the members of the Board, and the decisions were signed on Monday 09/21/1442 AH corresponding to 03/05/2021 AD according to the following: First: Electing the Chairman and Vice President of the Board of Directors as follows: –
1. Appointment of Mr. Suleiman bin Saad Al-Hamid (non-executive) as Chairman of the Board of Directors
2. The appointment of Eng. Iyad bin Muhammad Shaikh (Independent) as Vice Chairman of the Board of Directors.

Second: Appointing Eng. Hattan Bin Hamid Al-Shanbari (Executive) as the Managing Director

Third: Appointing Mr. Fahad Abdulrahman Al-Moaikel (Executive), the Executive Director of the Department.

Fourth: Approval of the formation of the Investment Committee for the new session, which begins its work on 01/05/2021 for a period of three years, and ends on 04/30/2024 AD, and to appoint the following members:
• Mr. Maqid Bin Ibrahim Al-Otaibi – Independent (Chairman of the Committee)
• Prince / Mohammed bin Khalid bin Turki Al Saud – Independent (Member)
• Engineer / Iyad bin Mohammed Sheikh – Independent (Member)
• Mr/ Fahd bin Abdulrahman Al-Moaikel – Executive (Member)
• Mr. Yasser Bin Sulaiman Al-Aqeel – Independent (Member)

Fifth: Approval of the formation of the Nomination and Remuneration Committee for the new session, which begins its work on 01/05/2021 for a period of three years, and ends on 04/30/2024 AD, and to appoint the following members, their names:
• Prince / Mohammed bin Khalid bin Turki Al Saud – Independent (Chairman of the Committee)
• Dr. Ali Bin Saleh Khebti – Non-Executive (Member)
• Mr. Maqid Bin Ibrahim Al-Otaibi – Independent (Member)

Sixth: Approve the formation of the Audit Committee for the new session by the Board of Directors. 04/30 m and powers adopted previously, and the names of the members are as follows:
• Mr. Yasser bin Sulaiman Al-Aqeel – Independent (Chairman of the Committee).
• Professor / Khalid bin Abdulaziz Al Hoshan (member outside the council).
• Mr. Bin Adnan Abulfrj (member outside the Council
.

Seventh: Representatives of the company have been appointed to the Capital Market Authority and the Saudi Stock Exchange Company (Tadawul) for all purposes related to the application of the financial market system and its implementing regulations, and the appointment of a secretary of the board of directors.

Saudi Arabian Refineries Company (SARCO) announces the appointment of the chairman and his deputy, the executive management, and the formation of the board committees for the new session

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