Ooredoo Announces the Results of its Extra Ordinary General Assembly Meeting

Ooredoo held its Extraordinary General Assembly Meeting on 27 December 2023, at 4:30 pm, in Ooredoo Main Headquarters in West Bay and via Zoom.

During the meeting, The Board discussed the Agenda Items with the shareholders and approved the following points:

1-Approval of the amendment of Article (8), Article (22), Article (26) and Article (27) of the Company’s Articles of Association by changing Qatar Holding company to become Qatar Investment Authority.

2-Approval of the amendment of Article (62) of the Articles of Association:

Article (62) before the amendment:

“2 - The General Assembly shall deduct a part of the profit to face the Company’s obligation under Labor Laws.

The Ordinary General Assembly may, on the recommendation of the Board, decide to deduct parts of net profits to be allocated into an optional reserve account, this reserve is used on areas decided by the General Assembly, then an amount sufficient for distributing initial dividends to the Shareholders equal to at least five percent (5%) of the paid part of their shares shall be deducted from the net profits. If in any year, the profits realized would not allow for such distribution of Dividends from the profits of any subsequent years.

The Ordinary General Assembly may delegate the Board the power to distribute Semi-Annual Dividends on account of the final Dividends among the Shareholders based on the results of the Semi-Annual audited financial statements provided that such distribution shall be made with the consent of and in accordance with terms approved by the Department of Trade Affairs of the Ministry of Economy and Trade.”

Article (62) after the amendment:

“2 - The General Assembly shall deduct a part of the profit to face the Company’s obligation under Labor Laws.

The Ordinary General Assembly may, on the recommendation of the Board, decide to deduct parts of net profits to be allocated into an optional reserve account, this reserve is used on areas decided by the General Assembly, then an amount sufficient for distributing initial dividends to the Shareholders equal to at least five percent (5%) of the paid part of their shares shall be deducted from the net profits. If in any year, the profits realized would not allow for such distribution of Dividends from the profits of any subsequent years.

The Ordinary General Assembly may delegate the Board the power to distribute interim dividends (quarterly or semi-annual) during the year, in accordance with the regulations of the Qatar Financial Markets Authority and the provisions of the Commercial Companies Law promulgated by Law No. (11) of 2015 and its amendments by Law No. (8) of 2021."

The amendments mentioned above can be viewed on the company’s website www.ooredoo.com.

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About Ooredoo

Ooredoo is an international communications Company operating across the Middle East, North Africa, and Southeast Asia. It serves consumers and businesses in ten countries, delivering Ooredoo a broad range of content and services through its advanced, data-centric mobile and fixed networks. As of 31 December 2022, Ooredoo generated revenues of QAR 23 billion. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange. For further information please email IR@ooredoo.com and follow us on Twitter: @OoredooIR