Quara Finance Company announces the Board of Directors' resolution (by circulation), passed on 15 -02- 1448H (corresponding to July 29, 2026), approving the acceptance of the resignation of the Company's Chief Executive Officer.

Element List	Explanation
Introduction	Quara Finance Company announces the decision of its Board of Directors, passed by circulation on July 29, 2026, regarding the acceptance of the resignation of the Company's Chief Executive Officer, Mr. Faisal bin Abdulrahman Al-Shaikh, upon his request. The resignation shall take effect, with his last working day being July 29, 2026. The Board of Directors and all company employees express their sincere thanks and appreciation to Mr. Faisal bin Abdulrahman Al-Shaikh for his dedicated efforts and contributions during his tenure. The Board highly commends his outstanding leadership, which has significantly supported the company's journey and business development during his term, wishing him continued success in his future endeavors. Furthermore, the Board of Directors is completing the necessary regulatory procedures to appoint or designate a replacement, including obtaining the required "no-objection" from the Saudi Central Bank (SAMA) and adhering to relevant laws and regulations. Any material developments in this regard will be announced in due course.

Element List

Explanation

Introduction

Quara Finance Company announces the decision of its Board of Directors, passed by circulation on July 29, 2026, regarding the acceptance of the resignation of the Company's Chief Executive Officer, Mr. Faisal bin Abdulrahman Al-Shaikh, upon his request. The resignation shall take effect, with his last working day being July 29, 2026.

The Board of Directors and all company employees express their sincere thanks and appreciation to Mr. Faisal bin Abdulrahman Al-Shaikh for his dedicated efforts and contributions during his tenure. The Board highly commends his outstanding leadership, which has significantly supported the company's journey and business development during his term, wishing him continued success in his future endeavors.

Furthermore, the Board of Directors is completing the necessary regulatory procedures to appoint or designate a replacement, including obtaining the required "no-objection" from the Saudi Central Bank (SAMA) and adhering to relevant laws and regulations. Any material developments in this regard will be announced in due course.

Element List	Explanation
Name of the Resigned Person	Faisal Al Alshaikh
Resignation Acceptance Date	2026-07-29 Corresponding to 1448-02-15
Resignation Effective Date	2026-07-29 Corresponding to 1448-02-15
Reasons for Resignation	upon his request