The Mediterranean and Gulf Insurance and Reinsurance Company (MEDGULF) Announces the Results of the Extraordinary General Assembly Meeting (Second Meeting)

Shareholders approved using SAR 224.97 million from the share premium account to offset accumulated losses of SAR 77.82 million as reported in the interim financial statements for the period ended March 31, 2026.
The assembly appointed PKF Al Bassam (SAR 780,000 fee) and RSM Allied Accountants (SAR 850,000 fee) to audit the financial statements for the remainder of FY 2026 and Q1 2027.
Approval was granted for the FY 2025 financial statements, the board of directors' report, and the payment of SAR 2.69 million in board remuneration for the fiscal year ending December 31, 2025.
Multiple related party transactions were approved involving entities with board member interests, including insurance policies and service contracts with Saudi Investment Bank, Zain Saudi Arabia, and Qassim Cement Company.

Element List	Explanation
Introduction	The Board of Directors of the Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) is pleased to announce the results of the Extraordinary General Assembly Meeting (The Second meeting) that was held on Monday, 14-01-1448 corresponding to 29-06-2026 through means of technology at (20:15) PM, one hour after the scheduled time for the first meeting due to the lack of the legal quorum required to hold the first meeting.
City and Location of the General Assembly's Meeting	The company's main head office in Riyadh through means of technology.
Date of the General Assembly's Meeting	2026-06-29 Corresponding to 1448-01-14
Time of the General Assembly’s Meeting	20:15
Percentage of Attending Shareholders	29.42%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The following members of the Board of Directors attended the meeting: 1- Mr. Yasser Yousef Naghi (Chairman) 2- Mr. Rakan Abdullah Abu Nayyan (Vice Chairman) 3- Mr. Abdulmajid Abdulaziz Al-Mashaal 4- Ms. Monirah Saleh Al-Swaydani 5- Mr. Abdulrahman Mohammed Al-Rawaf 6- Dr. Ahmed Abdullah Bin-Ahmed 7- Mr. Robert Hendriks 8-Mr. Ziad Bassam AlBassam The Board member Mr. Faisal Abdullah AlJasir was absent from the meeting
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	1- Mr. Mohammed Saleh Al-Ghamdi (Chairman of Audit Committee) 2- Mr. Rakan Abdullah Abu Nayyan (Chairman of Executive Committee) 3- Mr. Abdulmajid Abdulaziz Al-Mashaal (Chairman of Investment Committee) 4- Ms. Monirah Saleh Al-Swaydani (Chairman of Risk Committee) 5- Mr. Robert Hendriks (Chairman of Remuneration and Nomination Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	Attached
Attached Documents	Attached Documents