introduction Saudi Reinsurance Company Announces the Results of the Ordinary General Assembly Meeting, (First Meeting) held at 7:00 pm after reaching the required quorum. The Meeting was chaired by the Chairman of the Board Mr. Hesham Al-Sheik City and Location of the General Assembly’s Meeting The Meeting was held remotely at the company’s head office in the city of Riyadh through means of modern technology. Date of the General Assembly’s Meeting 2023-05-11 Corresponding to 1444-10-21 Time of the General Assembly’s Meeting 19:00 Percentage of Attending Shareholders 58.30% Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees – Present Members:1- Mr. Hesham Al-Sheikh – Chairman2- Mr. Mishari Al-Mishari – Vice Chairman3- Mr. Fahad Al-Hesni- MD , CEO4- Mr. Mohammad Al-Otaibi5- Mr. Ahmed Sabbagh6- Mr. Jean-Luc Gourgeon7- Eng. Hussam Al-Suwailem8- Dr. Peter Hugger9- Mr. Marc Maupoux10- Mr.Turki Al-Sudairy11- Mr.Abdulatif Al-Fozan– Absent MembersAll Board members have attended Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf 1. Mr. Hesham Al-Sheikh – Chairman of the Investment Committee & Executive Committee2. Mr. Mohammad Al-Otaibi – Chairman of the Risk Management Committee3. Mr. Jean-Luc Gourgeon – Chairman of the Technical Committee4. Mr. Marc Maupoux – Chairman of the Nomination and Remuneration Committee5. Mr. Hisham Al-Akil – Chairman Of the Audit Committee Voting Results on the Items of the General Assembly’s Meeting Agenda’s 1. Reviewed and discussed the Board of Directors report for the fiscal year ending on 31/12/2022.2. Approval on the external auditors’ report of the fiscal year ending on 31/12/2022.3. Reviewed and discussed the financial statements for the fiscal year ending on 31/12/2022.4. Approval to absolve the members of the Board of Directors from liability for the fiscal year ending on 31/12/2022.5. Approval on the appointment of the Company’s auditors from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third quarters and annual of the fiscal year of 2023 and the first quarter of year 2024, and determine their fees and they are:– KPMG Professional Services, Certified Public Accountants.– BDO Dr.Mohamed Al-Amri & Co.6. Approval on reinsurance contracts concluded between the company and Probitas Corporate Capital Ltd, in which there is an indirect interest for the Chairman of the Board of Directors Mr. Hesham Abdulmalik Al-Shaikh, MD/CEO Mr. Fahad Abdulrahman Al-Hesni, and Board Member Mr. Jean-Luc Gourgeon, as representatives for Saudi Re, for their membership in the Board of Directors of Probitas Holding (Bermuda) Ltd., the parent company of Probitas Corporate Capital Ltd. Also, there is an indirect interest for Board Member Mr. Jean-Luc Gourgeon for his membership in the Board of Directors of Probitas Corporate Capital Ltd., noting that the value of transactions during the financial year ending 31/12/2022 is 158,704,085 Saudi Riyals, without preferential treatment7. Approval on the business and contracts that will be concluded between the company and the board of directors of the company Mr.Jean-Luc Gourgeon in it which is to provide consulting services in the field of reinsurance, noting that the value of the contract for the financial year ending 31/12/2022 amounted to 188,983 Saudi Riyals without preferential treatment.8. Approval on disbursing an amount of 1,900,000 Saudi Riyals as a remuneration to the members of the Board of Directors for the financial year ending 31/12/2022.9– Approval voting on the election of the members of the Board of Directors from among the candidates for the next session, which starts from the date (11/05/2023) and its duration is three years, as it ends on (10/05/2026) and they are :1- Abdulrahman Ibrahem Al-Jalal2- Abdulatif Ali Al-Fozan3- Turki Salman Al-Sudairy4- Hussam Bandar Al-Suwailem5- Kubra Ghulam Radhi6- Abdulaziz Abdulhamid Al-Bassam7- Waleed Abdulrahman Al-Monie8- Abdulaziz Abdulrahman Al Shiekh9- Mosa Abdulaziz Bin Akresh10- Ahmad Mohammed Sabbagh11- Fahad Abdulrahman Al-Hesni

“Saudi Re” announces that it has received on Sunday 15/11/1444 H corresponding to 04/06/2023 the Saudi Central Bank’s no-objection, via e-mail, to appoint the Chairman and Vice-chairman of the Board of Directors for the term of the Board of Directors that began on 11/05/2023 and ends on 10/05/2026 according to the following: First: Appointment of Mr. Abdulltaif Al Fouzan as Chairman of the Board of Directors. Second: Appointment of Mr. Turki Al Sudairy as Vice-Chairman of the Board of Directors.

Saudi Reinsurance Company (Saudi Re) has unveiled a robust financial performance for the first half of the current financial year 2023, recording a net profit before Zakat of SAR 82 million compared to SAR 34.8 million last year, with an increase of 135%. The Company’s first half year results also recorded an increase in its gross written premium by 32%, reaching SAR 1.2 billion driven by strong growth in the local market and the international markets. The six months results underscore improvement in the Company’s underwriting as well investment performance with positive contribution from the second quarter. Notably, reinsurance service results leaped by an impressive 397% in contrast to the previous year recording SAR 73 million. Similarly, investment income recorded a profit of SAR 26 million compared to recording loss from the previous period, driven by the reallocation of investment classes and interest rate hikes. Noteworthy, the total shareholders’ equity showed a growth of 13%, culminating at SAR 1.094 billion at the close of the period compared to last year period. Fahad Al-Hesni, the Managing Director and CEO of Saudi Re, stated that the first half result witnessed continued improvement in our performance across the various sectors we operate in, which reflects our effective strategy and efforts to grow profitably and diversify our book  of business while maintaining a solid financial position. He further mentioned that Saudi Re focused on harnessing the opportunities in light of the enhanced credit rating of the Company, the improvements in market conditions and the developments in the regulatory environment.  

Saudi Reinsurance Company “Saudi Re” announced its financial results for 2024, reporting a net profit after zakat of SAR 475 million, reflecting a 282% increase compared to 2023. The Company’s gross written premiums (GWP) grew by 48%, reaching SAR 2.36 billion, driven by the growth across all lines both locally and internationally. Saudi Re’s underwriting results improved significantly, with net reinsurance results increasing by 19%. The year 2024 witnessed unprecedented incidents related to natural disasters and other events; however, the Company managed to maintain portfolio profitability and operational sustainability. The Company also achieved SAR 5.33 earnings per share (EPS), a standout among the top performers in the Saudi’s insurance sector.  Additionally, net investment income rose by 629% to SAR 440 million, supported by successful divestment from the Company’s stake in Probitas Holdings (Bermuda) Limited which delivered exceptional investment returns; reflecting effective investment strategies and enhanced returns across various asset classes. Commenting on the financial results, Ahmed Al-Jabr, CEO of Saudi Re, stated: “2024 was an exceptional year in terms of results as it recorded the highest level of revenue and profit, while advancing in executing key milestones in its strategy paving the way for a new phase of growth.  In 2024, we successfully concluded PIF investment transaction in Saudi Re as an anchor investor.”  Al-Jabr added  “Building on our commitment to achieving strategic objectives and enhancing shareholder value through strong financial performance and sustainable growth, the Board of Directors has recommended to grant bonus shares to the shareholders.” In line with the Company’s outstanding performance, which drives value for shareholders, and to support the Company’s growth and strengthen its financial position, the Board of Directors has recommended increasing capital from SAR 1.158 billion to 1.698 billion representing an increase of  46.6%.  The increase will be through capitalizing of SAR 539.8 million from the retained earnings and distributing 51.480 million shares by granting 4 shares for each 9 shares and allocating an additional 2.5 million shares for establishing the Company’s employee long-term incentive plan. Additionally,the Company has maintained a strong financial position, reflected in an increase in shareholders’ equity by 41%, the preservation of a strong credit rating, and maintaining adequate technical reserves.  Saudi Re also entered into a series of important agreements in 2004 including an agreement with a reinsurance contract with Al-Etihad Cooperative Insurance Co. at a total value of SAR 208.7 million to provide reinsurance coverage for the financial dues of non-Saudi workers in the event of delinquency of the private sector entities.  Saudi Re also signed a reinsurance contract for surety insurance bond coinsurance program with Walaa Cooperative Insurance Company.  The Program is a financial guarantee solution that aims to ensure contractors meet their contractual obligations on construction projects developed for the Public Investment Fund’s (PIF) Development Companies. These agreements reinforce Saudi Re’s role in bridging the insurance gap, offering innovative solutions, and supporting financial stability.  

• PIF acquires 23.08% stake in Saudi Reinsurance Company by way of a capital increase and subscription to new shares• The investment aims to enable the company to scale up domestic capacity to meet rapid local growth and strengthen the Saudi insurance sector• PIF’s investment reinforces Saudi Reinsurance Company’s position as the national reinsurer, further strengthening its presence regionally and globally PIF has acquired a 23.08% stake in Saudi Reinsurance Company (Saudi Re) by way of a capital increase and subscription to new shares, with the suspension of preemptive rights in accordance with Capital Market Authority regulations. PIF’s capital investment aims to enhance Saudi Re’s growth potential by adding to its financial capacity and further strengthen its credit rating. PIF’s capital investment also supports Saudi insurance firms by enabling Saudi Re to deliver high quality reinsurance, permitting Saudi insurance companies to manage risk more effectively. Insurers use reinsurance to provide adequate coverage to their policyholders and reduce earnings volatility. Saudi Re enables Saudi insurance firms to grow and innovate. The investment is expected to contribute to more reinsurance premiums staying within Saudi Arabia while also growing the local reinsurance sector, and allowing better coverage for commercial activities for both insurance firms and companies in general, making the economy as a whole more financially resilient. A better capitalized Saudi Re will be more able to meet rapid growth in demand, and devise new products, while having increased capacity to expand in domestic and global markets. Sultan Alsheikh, Head of Financial Institutions in MENA Investments at PIF, said: “By investing in Saudi Re, PIF is reinforcing a leading regional reinsurer and strengthening Saudi Arabia’s insurance sector, which is an essential component of sustainable economic growth. This enhances access to quality financial services for insurers and their policyholders, and strengthens the sector.” Ahmed Al-Jabr, CEO of Saudi Re, commented: “We are delighted to welcome PIF as a strategic investor and look forward to its role in enabling Saudi Re’s strategy and reinforcing its position as a national reinsurer, while further strengthening its presence regionally and globally. This investment will provide us with multiple benefits, including boosting our financial position and unlocking opportunities for expansion and growth.” Saudi Re is a leading MENA reinsurance company and holds an A-minus rating from S&P Global and an A3 rating from Moody’s. In the first nine months of 2024, Saudi Re’s total written premiums reached SAR 1.94 billion ($520 million). It achieved a compound annual growth rate of 17% over the five years up to the end of the 2023 financial year. The transaction secured regulatory consents and was approved by Saudi Re’s shareholders at an extraordinary general meeting.  

Introduction Saudi Re Announces Signing a Reinsurance Contract for Surety Insurance Bonds Coinsurance Program with Walaa Cooperative Insurance Company Date of Announcement of the Award 2024-12-29 Corresponding to 1446-06-28 Contract Subject Matter Reinsurance contract on Surety Insurance Bonds Coinsurance Program. The Program is a financial guarantee solution that aims to ensure contractors meet their contractual obligations on construction projects developed for the Public Investment Fund’s (PIF) Development Companies. The Entity with Which the Contract was Signed Walaa Cooperative Insurance Company Date of Signing the Contract 2024-12-29 Corresponding to 1446-06-28 Contract Value The contract is expected to result in increasing the company’s Reinsurance Revenue by more than 5% of the total Reinsurance Revenue (based on 2023 financial year results). Contract Details Reinsurance contract on Surety Insurance Bonds Coinsurance Program. The Program is a financial guarantee solution that aims to ensure contractors meet their contractual obligations on construction projects developed for the Public Investment Fund’s (PIF) Development Companies. Contract Duration 12 Gregorian months starting from 01/07/1446H (corresponding to 01/01/2025G). Financial Impact and the Relevant Period The contract is expected to have an impact on the company’s financial results during the financial year 2025 Related Parties There are no related parties involved