Gulf General Cooperative Insurance Company Announces the Results of the Ordinary General Assembly Meeting (Second Meeting)

Gulf General Cooperative Insurance Company held its second Ordinary General Assembly on June 23, 2026, with an attendance rate of 15.27% following a lack of quorum in the first meeting.
Shareholders approved the appointment of PKF Al Bassam (SAR 925,000 fee) and El Sayed El Ayouty & Co. (SAR 675,000 fee) as auditors for the 2026 fiscal year and the first quarter of 2027.
Voters disapproved business contracts with Al-Dabbagh Group involving board member Jamal Abdullah Al-Dabbagh, which included underwritten premiums totaling SAR 7.04 million in 2025.
The assembly approved SAR 1.8 million in board remuneration for the 2025 fiscal year and discharged the Board of Directors from liability for the same period.

Element List	Explanation
Introduction	Gulf General Cooperative Insurance Company announces the results of the Ordinary General Assembly Meeting (Second Meeting) due to the lack of quorum in the first meeting scheduled to be held at 6:30 pm. Accordingly, the second meeting was held at 7:30 pm on Tuesday, 08/01/1448 H, corresponding to 23/06/2026 AD. The attendance rate was 15.27% through means of modern technology.
City and Location of the General Assembly's Meeting	Company headquarters, Jeddah - through means of modern technology.
Date of the General Assembly's Meeting	2026-06-23 Corresponding to 1448-01-08
Time of the General Assembly’s Meeting	19:30
Percentage of Attending Shareholders	15.27%
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: Mr. Mazen Hani Altamimi (Chairman) Mr. Taher Mohammed Omar Agueel (Vice Chairman) Mr. Jamal Abdullah AlDabbagh Mr. Saud Abdulaziz AlSulaiman Mr. Mohamed Husnee Jazeel Mr. MohammadZaher Salahuddin Almunajjed Dr. Abdulraouf Sulaiman Banaja Dr. Abdulwahab Mossab Abukwaik
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	Mr. Mazen Hani Altamimi - Chairman of the Executive Committee. Mr. Saud Abdulaziz AlSulaiman - Chairman of the Investment Committee. Dr. Abdulraouf Sulaiman Banaja – Chairman of the Audit Committee. Mr. Jamal Abdullah AlDabbagh - Member of the Nomination and Remuneration Committee. Mr. MohammadZaher Salahuddin Almunajjed- Chairman of the Risk Management Committee.
Voting Results on the Items of the General Assembly's Meeting Agenda's	1.The Board of Directors' report for the fiscal year ending on 31/12/2025 AD was viewed and discussed. 2.The financial statements for the fiscal year ending on 31/12/2025 AD were viewed and discussed. 3.Approval of the auditors’ report on the Company’s accounts for the fiscal year ending on 31/12/2025 AD after discussing it. 4.Approval of appointing the auditors for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditors shall examine, review and audit the second quarter, third quarter, and annual financial statements of the fiscal year ending 2026 AD, and the first quarter of the fiscal year 2027 AD, and the determination of the auditors’ remuneration and they are: -PKF Al Bassam Chartered Accountants for a fee of SAR 925,000. - El Sayed El Ayouty & Co. Certified Public Accountants for a fee of SAR 675,000. 5.Disapproval of the business and contracts that will be concluded between the company and (Al-Dabbagh Group), in which the Board Member Mr. Jamal Abdullah Al-Dabbagh has a direct interest, as he is the owner of this group, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2025 AD were insurance premiums underwritten in the amount of SAR 7,043,000. 6.Approval of the business and contracts that will be concluded between the company and (Rolaco Group), in which the Board Member Mr. Saud Abdulaziz Al-Sulaiman has a direct interest, as he is the owner of this group, represented in premiums underwritten for a year, and there are no preferential terms for these contracts. Note that the transactions that occurred in 2025 AD were insurance premiums underwritten in the amount of SAR 627,000. 7.Approval of the discharge of the Directors from their liabilities for the fiscal year ending on 31/12/2025 AD. 8.Approval of the payment of remuneration to the members of the Board of Directors in the amount of SAR 1,800,000 for the financial year ended 31/12/2025