Announcement of Saudi Arabian Refineries Company about the results of the Ordinary General Assembly Meeting (Second Meeting):

Saudi Arabian Refineries Company (SARCO) is pleased to announce the results of the Ordinary General Assembly Meeting (Second Meeting), which was held on Wednesday, 30th August 2023, corresponding to 14th Dhu al-Hijjah 1445, through modern technology means using the Tadawulaty website (www.tadawulaty.com.sa). The meeting achieved a legal quorum with a attendance rate of 9.85%, as the legal quorum for the second meeting is the presence of any number of the company’s shares.

1. Approval of the appointment of Messrs. Al-Ayouti & Partners as the company’s auditors among the nominees, based on the recommendation of the Audit Committee, to examine, review, and audit the financial statements for the second and third quarters and the annual financial statements for the fiscal year 2023, as well as the first quarter of the fiscal year 2024, and to determine their fees.

2. Disapproval of the Board of Directors’ decision to appoint Mr. Abdulrahman bin Khaled Al-Sultan (an external board member) as a member of the Audit Committee starting from his appointment on July 26, 2023, until the end of the current committee’s term on April 30, 2024, replacing the previous committee member Mr. Basim bin Adnan Abu Al-Faraj (an independent member). This appointment shall be effective from the date of the recommendation issued on July 26, 2023, and is in accordance with the Audit Committee’s regulations.