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

Saudi Reinsurance Company “Saudi Re” announced the appointment of Ahmed Al-Jabr as its new Chief Executive Officer, effective October 1st, 2024. Al-Jabr, who has been with Saudi Re since 2011, previously held the position of Chief Operations Officer before being promoted to the role of Deputy CEO. Subsequently, he was appointed as the Acting CEO earlier this year.  With over 25 years of diverse experience in the insurance and reinsurance sectors, Al-Jabr brings a wealth of expertise having served in various executive roles in operations, strategy management, business development and others. He holds a Master’s degree in Business Administration from the University of Bradford in the United Kingdom. Saudi Re is a leading reinsurance company in the Middle East region, with operations spanning more than 40 markets. The company holds an ‘A-‘ rating from Standard & Poor’s and an ‘A3’ rating from Moody’s. In the first half of the current year, Saudi Re grew by 19% reporting gross written premiums of SAR 1.4 billion, and focusses on executing its Strategy Towards 2028 with the aim of reinforcing its competitive position and sustaining its profitable growth momentum domestically and internationally.

Saudi Re announces an agreement with UK-headquartered insurance company Aviva Insurance Limited or the sale of Saudi Re’s entire 49.9% stake in Probitas Holdings (Bermuda) Limited including its subsidiaries, for a consideration of GBP 120 million subject to final closing adjustments. Commenting on the transaction, Fahad Al-Hesni, Managing Director and CEO of Saudi Re, said “We believe the transaction will enable Saudi Re to strengthen its competitive position and reorient our financial resources towards new growth opportunities domestically and internationally.” Al-Hesni further noted that the transaction was agreed on terms very attractive to Saudi Re and creates a substantial shareholder value, generating nearly five times return on the initial investment. As Saudi Re embarks on an ambition growth journey, the proceeds will further reinforce Saudi Re’s capital base and provide ample support for future expansion and diversification. The transaction is subject to customary closing conditions, including regulatory approvals from relevant authorities and is expected to close in mid-2024. Tadawul Announcement  

Introduction The Board of Directors of Saudi Reinsurance Company “Saudi Re” (the “Company“) is pleased to invite its honorable shareholders to participate and vote in the Extraordinary General Assembly Meeting (first meeting) which will be held virtually through means of modern technology scheduled at 7 PM on Tuesday 23/06/1446H (corresponding to 24/12/2024G). City and Location of the Extraordinary General Assembly’s Meeting Kingdom of Saudi Arabia – Riyadh City – Company’s Head Office – Via Means of Modern Technology using Tadawulaty system. URL for the Meeting Location https://www.tadawulaty.com.sa Date of the Extraordinary General Assembly’s Meeting Tuesday 23/06/1446H (corresponding to 24/12/2024G). Time of the Extraordinary General Assembly’s Meeting 7 PM Attendance Eligibility, Registration Eligibility, and Voting End Shareholders who are registered in the Company’s shareholders register at the Depositary Center by the end of the trade session prior to the general assembly meeting are entitled to attend in accordance with the laws and regulations. A shareholder’s right to register its name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees’ right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the screening committee. Quorum for Convening the General Assembly’s Meeting The quorum of the meeting of this assembly requires the attendance of a number of shareholders representing at least 50% of the Company’s capital, in accordance with the provisions of Article 33 of the Company’s bylaws. In the event that this quorum is not available at the first meeting, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting will be valid  if attended by a number of shareholders representing at least 25% of the capital. Meeting Agenda 1. Vote on the recommendation of the Company’s board of directors to increase its capital by issuing 26,730,000 new ordinary shares with suspension of pre-emptive rights as follows:a. Increasing the share capital from 891,000,000 Saudi Riyals divided into 89,100,000 ordinary shares  of equal value, to 1,158,300,000 Saudi Riyals divided into 115,830,000 ordinary shares of equal value with the suspension of pre-emptive rights, by way of issuing 26,730,000 new ordinary shares (representing 30% of the Company’s current capital)  with a nominal value of 10 Saudi riyals per share, at an offer price of 16 Saudi Riyals per share (the “New Shares”) with a total subscription amount of 427,680,000 Saudi Riyals. The New Shares will be fully subscribed to by the Public Investment Fund (“PIF”), so that PIF’s ownership in the share capital of the Company will be 23.08% after the capital increase.b. PIF’s subscription right shall commence on the date of the extraordinary general assembly meeting that resolves to increase the capital by offering shares while suspending pre-emptive right.c. Amending Article 8 of the Company’s bylaws related to the capital increase. (attached) 2. Vote on the amendment of the article (15) of the Company’s bylaws related to the company`s management (attached). 3. Vote on the amendment of article (11) of the Company’s bylaws related to the Company’s issuance of shares. (attached) 4. Vote on the amendment of the article (18) of the Company’s bylaws related to the board of directors’ powers. (attached) 5. Vote on the amendment of the article (45) of the Company’s bylaws related to Zakat and Reserves. (attached) 6. Vote on the amendments of Company’s bylaws to comply with the new Companies Law, and rearranging the articles of the bylaws and their numbering, to align with the proposed amendments. (attached). 7. Vote on the amendment of the Corporate Governance Policy (attached). 8. Vote on Business Competition Standards (attached). 9. Vote on the appointment of 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 the annual financial statements for the financial year 2025G, and the first quarter of the financial year 2026G, and determine their fees (Attached). The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right Eligibility for registering the attendance of the General Assembly’s Meeting ends once the General Assembly Meeting is convened. Eligibility for voting on the agenda items of the Meeting ends once the Counting Committee concludes counting the votes. Details of the electronic voting on the Assembly’s agenda Shareholders have the right to discuss the topics listed in the agenda of the General Assembly and raise relevant questions and inquiries. Shareholders can vote remotely on the General Assembly Meeting’s agenda via (E-voting Service) of Tadawulaty, by clicking on the following link: www.tadawulaty.com.saVoting on the items of the General Assembly agenda online will start from 1:00 AM on Friday, 19/06/1446H (corresponding to 20/12/2024G), until the end of the Extraordinary General Assembly. Method of Communication For inquiries, please contact the Investors relations department on +966 11 510 2000 ext. 181You can also direct your inquiries to the email of the Investor relations Department on:Invest@saudi-re.com