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

Element List	Explanation
Introduction	The Board of Directors of Molan Steel Co. is pleased to announce the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 7:05 PM on Tuesday 15/01/1448H, corresponding to 30/06/2026G, via modern technology means, with an attendance percentage of 55.08%. After the required quorum for the validity of the Assembly meeting was met, the voting results on the meeting's agenda items were as follows
City and Location of the General Assembly's Meeting	The Company’s head office in Riyadh, Eastern Ring Road, Exit 16 - via modern technology means.
Date of the General Assembly's Meeting	2026-06-30 Corresponding to 1448-01-15
Time of the General Assembly’s Meeting	19:05
Percentage of Attending Shareholders	55.08%
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 were also present: 1. Mr. Abdulrahman Ibrahim Al Odaiby - Chairman of the Board of Directors 2. Mr. Majed Ibrahim Al Odaiby – Vice Chairman of the Board of Directors 3. Mr. Abdulaziz Ibrahim Al Odaiby - Member of the Board of Directors And the ones not attending were: 1. Mr. Faisal Mrzooq Al Fahhadi - Member of the Board of Directors 2. Eng. Muthanna Abdulaziz Al Raqtan - Member of the Board of Directors
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	The Chairman of the Audit Committee, Mr. Rayan Omar Al Mofadda attended.
Voting Results on the Items of the General Assembly's Meeting Agenda's	1- The Board of Directors' report for the fiscal year ended 31/12/2025 was reviewed and discussed. 2- The Company's financial statements for the fiscal year ended 31/12/2025 were reviewed and discussed. 3- Approval of the Company's external auditor's report on the fiscal year ended 31/12/2025, after discussion. 4- Approval of appointing Messrs. Alzoman, Alfahad & Alhajjaj Professional Consulting Co. as the Company's external auditor from among the candidates, based on the recommendation of the Audit Committee, to examine, review and audit the (first) semi-annual and the annual financial statements for the fiscal year 2026, and determining its fees in a total amount of SAR 260,000, allocated as follows: SAR 200,000 for auditing the annual financial statements, and SAR 60,000 for reviewing the semi-annual financial statements. 5- Approval of discharging the members of the Board of Directors from liability for the fiscal year ended 31/12/2025. 6- Approval of authorizing the Board of Directors to distribute interim dividends on a semi-annual/quarterly basis for the fiscal year 2026. 7- Approval of the Board of Directors' resolution to appoint Mr. Majed Ibrahim Al-Odaiby as a member of the Board of Directors, effective 09/04/2026, to complete the Board's term until the end of the current term on 10/07/2027, succeeding Mr. Bandar Ibrahim Al-Odaiby.