Lamasat Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)

The meeting was held after a quorum was reached, with attendance in person and by proxy via remote electronic voting reaching 92.84% of the company's share capital.

1- Mr. Ahmed Hamza Mohammed Masoudi – Chairman of the Board

2- Mr. Sami Ahmed Saleh Issawi – Board Member (Vice Chairman of the Board)

3- Mr. Mohammed Hamza Mohammed Masoudi – Board Member (Managing Director and CEO)

4- Mr. Hazem Hamza Mohammed Masoudi – Board Member

5- Dr. Asaad Saud Asaad Rizk – Board Member

2. The financial statements for the fiscal year ending December 31, 2025, were reviewed and discussed.

3. The company's auditor's report for the fiscal year ending December 31, 2025, was approved after discussion.

4. The Board of Directors was discharged from liability for the fiscal year ending December 31, 2025.

5. The appointment of RSM as the company's auditor, based on the recommendation of the Audit Committee, was approved. RSM will examine, review, and audit the semi-annual/annual financial statements for the fiscal year ending December 31, 2025. Their fees were set at SAR 225,000, excluding VAT.

6- Approval of a bonus of SAR 250,000 for the Board of Directors for the fiscal year ending December 31, 2025.

7- Approval of a bonus of SAR 95,000 for the Audit Committee for the fiscal year ending December 31, 2025.

8- Approval of the Board of Directors’ recommendation to distribute cash dividends in the amount of (8,100,000) riyals to the shareholders for (the financial period ending on 12/31/2025 AD, at a rate of 10% of the company’s capital), provided that the entitlement is for shareholders who own shares at the end of trading on the day of the General Assembly meeting and are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the General Assembly meeting, provided that the distribution is done within (15) working days from the date of the General Assembly meeting (entitlement date), noting that the dividend distribution date will be starting from Thursday, 27 Dhu al-Qi’dah 1447 AH, corresponding to 14 May 2026 AD.

9- Approval to authorize the Board of Directors to distribute interim profits on a semi-annual basis for the fiscal year ending on 31-12-2026.

10- Approval of the transactions and contracts that took place between the company and the shareholder Aisha Salem Rizq Badawi, in which the members of the Board of Directors (Ahmed Hamza Masoudi - Chairman of the Board, Mohammed Hamza Masoudi - Managing Director and CEO, Hazem Hamza Masoudi - Board Member) have an indirect interest in these transactions, and where these transactions consist of the rental of the Sultana branch salon in Madinah for the amount of (250,000 Riyals) only two hundred and fifty thousand Saudi Riyals only, and the value of the rental of a building in the Al-Khalidiyah neighborhood in Madinah for the amount of (69,700 Riyals) only sixty-nine thousand seven hundred Saudi Riyals only, noting that the total value due during the year 2025 AD amounted to a credit amount of (319,700 Riyals) only three hundred and nineteen thousand seven hundred Saudi Riyals only. It should be noted that these transactions were conducted at the actual market rent. The company has paid the amount to shareholder Aisha Salem Rizq Badawi (balance settlement) for the rental value, resulting in a final balance of zero for the period.

11- Approval of the transactions and contracts concluded between the company and Mr. Hamza Mohammed Yahya Masoudi, in which the following members of the Board of Directors (Ahmed Hamza Masoudi – Chairman of the Board, Mohammed Hamza Masoudi – Managing Director and CEO, and Hazem Hamza Masoudi – Board Member) have an indirect interest: This transaction involved the lease of an apartment in the Al-Nasr neighborhood of Madinah. The total amount due during the year 2025 was a credit of SAR 13,000 (thirteen thousand Saudi Riyals only). These transactions were conducted at the actual market rent. The company has paid Mr. Hamza Mohammed Yahya Masoudi the amount (settlement of the balance) for the lease, resulting in a final balance of zero for the period.

The Board would also like to remind all shareholders of the importance of updating their bank details to ensure that cash dividends are deposited directly into their accounts.

The Board wishes to inform all non-resident foreign shareholders that cash dividends transferred through a resident financial intermediary will be subject to a 5% withholding tax upon transfer or crediting to their bank account, in accordance with Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations.

For any inquiries, please contact the Investor Relations Department directly via email at IR@lamasat.com.sa