Al Sagr Cooperative Insurance Co. announces the opening of the nomination period for the board of director’s membership

Al Sagr Co-operative Insurance Co

Head Office - Dammam - King Fahad Road, Business Gate Building, Building No. 6565, Postal Code 32232, P.O. Box 3823

1. Submitting of the request to the Nominations and Remunerations Committee (Draft letter attached.

2. Candidate resume.

3. A clear copy of the national identity card, and the candidate's contact numbers shall be attached to the nomination application.

4. A statement of all the memberships of the boards of directors.

that he occupied or that he held, with an explanation of the type of activity and the date of hiring / expiry of membership in those companies.

5. A statement of the number of meetings that he attended during the past 3 years as a member of the Board of Directors or a member of one of the committees emanating from the Board.

6. Disclosure in the event of a conflict of interest with the company.

7. A statement if there is a family relationship or other relationship with a major shareholder of the company, senior executives or external auditors.

8. With regard to the candidate who previously held the position of membership of the Board of Directors of the Al Sagr Co-operative Insurance Company or a joint stock company, he must attach a statement approved by the Board’s secretariat for the last session in which he became a member of the Board containing the following:

A. The number of Board of Directors meetings that took place during all of the years of the term and the number of meetings that he has attended and the percentage of attendance.

B. The Board Committees that the nominee has participated in as a formal Committee member, and the number of meetings held for each of these committees during each year of the session and the percentage of attendance.

C. A brief about the financial results that the company achieved during the nominees Board session.

D. A list of all the publicly listed companies that the nominee is still a Board Member of.

E. A list of the companies or establishments that the nominee manages or owns, and wherever the nominee is engaged in business which is related to the Company’s business or has similar business activities.

9. Completing the Fit and Proper form issued by the Insurance Authority, attached and can be found on Insurance Authority website.

10. Completing form (3) as issued by the Capital Market Authority, and which can be found on the CMAs website (attached).

11. The nominee shall not be a member of the Board of Directors of any other insurance and/or reinsurance Company.

12. The nominee shall not hold membership in more than five Boards of publicly listed companies at one time.

13. It is not allowed to apply, except after written approval from Insurance Authority, for a person who has held a similar position in a liquidated Company or was dismissed from the same position in another company.