| Element List | Explanation |
|---|---|
| Introduction | Saudi Aramco Base Oil Company- Luberef (the “Company”) announces that the Chairman of the Board of Directors submitted his resignation on 4/12/1447H (corresponding to 21/5/2026G) from the Board, as follows: 1. Ibrahim Q. Al-Buainain (Chairman/Member of the Board) The Board of Directors of the Company extend their gratitude and appreciation to Mr. Ibrahim Q. Al-Buainain for his tenure and contributions to the Company. The Board of Directors have also resolved to appoint the following Member to the Board and as Chairman to complete the current Board’s term which ends on 14/8/2027G: 1. Yasser M. Mufti |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Ibrahim Q. Al-Buainain |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2026-05-21 Corresponding to 1447-12-04 |
| Resignation Effective Date | 2026-05-21 Corresponding to 1447-12-04 |
| Membership Starting Date for the Resigned Member | 2022-08-14 Corresponding to 1444-01-16 |
| Reasons of Resignation | Personal reasons. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Yasser M. Mufti |
| Membership Type | Non- Executive |
| Membership Start Date | 2026-05-24 Corresponding to 1447-12-07 |
| Brief Resume of the Appointed Member | Mr. Yasser M. Mufti holds a B.Sc. in Electrical Engineering from King Fahd University of Petroleum and Minerals and an MBA from City University of London. He is currently the Executive Vice President of Products & Customers at Saudi Aramco and previously served as Senior Vice President of Fuels, Vice President of Strategy & Market Analysis, and Saudi Arabia’s Governor to OPEC. Concurrent to his executive responsibilities, he serves as Chairman of Valvoline Global Operations (VGO), Yanbu Aramco Sinopec Refining Company (YASREF), Aramco Lubricants & Retail Company (ALURE), Aramco Overseas Company (AOC), Aramco Services Company (ASC), and Saudi Aramco Asia Company (SAAC). He also serves as Board Member of Motiva Enterprises LLC (MOTIVA), Aramco Trading Company (ATC) and Aramco Americas Company (AACO). |
| The date of the approval by other official authorities | Not applicable. |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2026-05-22 Corresponding to 1447-12-05 |
| Board Approval | The board’s approval shall not be deemed final. Such appointment will be discussed at the first General Assembly for ratification. |
