The Board of Directors of Oman Cables Industry SAOG announced that the current Chief Financial Officer Mr. Rinke Kieboom is retiring and leaving his position, accordingly the Board of Directors in its meeting held on 21 March 2024 appointed Mr. Marcelo De Paola to be the new Chief Financial Officer of the Company. The joining date of the new Chief Executive Officer Mr. Marcelo De Paola will be upon the completion of the required regulatory procedures associated with concerned authorities. Until the joining date, which will be disclosed in due course, Mr. Rinke Kieboom will continue in his role as Chief Financial Officer.

Mr. Marcelo De Paola is coming from his recent position as Prysmian Group´s Chief Executive Officer in Mexico, and was previously assigned as Prysmian Group's Chief Financial Officer for the LATAM region, covering various duties, accounting and treasury sections, financial planning, tax operations, as well as business support. Mr. Marcelo De Paola has over 35 years of financial experience starting as a financial analyst at Pirelli, along these years at Prysmian Group he has been in charge of the financial, information technology and corporate affair sectors, in addition, he has been in charge of such activities in Brazil, Argentina, Italy and Mexico. He was further responsible for building the new SAP Process (System Ap- plications and Products in Data Processing) that has been implemented around the world.

Moreover, while in Italy. Mr. Marcelo De Paola was part of the team that made Prysmian's initial public offering and that defined the new Prysmian group´s reporting model. Mr. Marcelo De Paola has graduated in Business from Sao Paulo and has an MBA in Finance at IBEMEC, Brazil.