Arabian Scandinavian Insurance Takaful ASCANA Insurance : Invitation of General Assembly

نيمأتلل اناكسأ - لفاكت - )ع.م.ش( نيمأتلل ةيفاندنكسلإا ةيبرعلاةكرشلا

ARABIAN SCANDINAVIAN INSURANCE COMPANY (P.L.C.) - TAKAFUL - ASCANA INSURANCE

Incorporated with limited liability by Amiri decree	دودحم نامضب يريمأ موسرم بجومب تسسأ
A company subject to Federal law no. (6) of year 2007 of Insurance	نيماتلا ةئيه ناش ىف 2007 ماعلل )6( مقر ىداحتلاا نوناقل ماكحلأ ةعضاخ ةكرش
Authority and registered in the insurance companies register under	م 19841215 خيراتب )6( مقر تحت نيمأتلا تاكرش لجس يف ةديقمو ةلامعأ ميظنتو
No. (6) on 15/12/1984 Paid Up Capital Dirhams One Hundred Fifty Four Million.	مهرد نويلم نوسمخو ةعبرأو ةئام عوفدملا لاملا سأر

The Board of Directors of Arabian Scandinavian Insurance Company PLC - Takaful - ASCANA Insurance is pleased to invite the respected shareholders to attend the Annual General Assembly Meeting at 11:00 am on Thursday 14/04/2022.

Shareholders will have the option to attend the AGM physically, or to attend remotely/online through the use of remote presence technology/virtual meetings with visual communication and electronic voting during the AGM (the link to virtual attendance for the AGM will be sent to shareholders by text message, by the Dubai Financial Market ("DFM").

Agenda for the day

1- Listen and approve the Board of Directors` report for the financial year ended 31/12/2021.

2- Listen and approve the Auditor's Report for the financial year ended on 31/12/2021 3- Listen and approve Sharia Supervisory Board's Report for the year 2021.

4- Discuss and approve the company's Balance Sheet and the Profit and loss Account for the financial year ended 31/12/2021. 5- Appoint the Sharia Supervisory Board for the year 2022.

6- Consider the Board of Directors' proposals concerning the distribution of cash dividends to shareholders of 15% (0.15 fills per share), equivalent to AED 23.1 million for the fiscal year ended 31/12/2021.

7- Approve Board of Directors' remunerations for the financial year ended on 31/12/2021

8- Discharge of the Board of Directors of the company from liability for the year ended 31/12/2021 or their termination and filing of a liability claim against them, as the case may be.

9- Discharge of the External Auditors of the company from liability for the year ended 31/12/2021 or their termination and filing of a liability claim against them, as the case may be

10- Appointment of the External Auditors of the company for the financial year 2022 and determination of their fees.

Special Decision

1-Consent to amend Article (7) of the company's Articles of Association for the purpose of allowing non-nationals and/or citizens of the Gulf Cooperation Council to own 49% of the capital , to read as follows: "all the company's shares are nominal, and the participation rate of nationals and/or citizens of the Gulf Cooperation Council, at any time throughout the period of the company existence, must not be less than 51% of the share capital, and the shareholding of non-nationals of the United Arab Emirates or Gulf Cooperation Council countries should not exceed 49%.

2-Consent to provide voluntary services for community service purposes.

Notes:

1-Any shareholder who has the right to attend the General Assembly may delegate any person other than a member of the Board of Directors under a special written proxy. In such capacity, no proxy may represent more than 5% of the shares in the capital of the Company. Shareholders who lack capacity or competency shall be represented by their legal representatives. (The requirements of sections 1 and 2 of Article 40 of Chairman of Authority's Board of Directors' Decision no. (3/R. M) of 2020 concerning Approval of Joint Stock Companies Governance Guide shall be applicable)

2-A corporate person may delegate one of his representatives or those in charge of its management under a decision of its Board of Directors or its authorized deputy to represent such corporate person in the General Assembly of the company. The delegated person shall have the powers as determined under the delegation decision.

3-Shareholders registered in the Shareholders Register on Wednesday 13/04/2022 shall be entitled to vote in the General Assembly meeting.

4- Shareholders registered in the Shareholders Register on Monday 25/04/2022 shall be entitled to receive the dividends.

5-Shareholders can access and review the company's financial statements & Corporate Governance Report on the website of Dubai Financial Market : www.dfm.ae , and the company website www.ascana.net

6-The meeting of the General Assembly shall not be valid unless attended by shareholders who hold or represent by proxy at least (50%) of the company's share capital. If this quorum for the meeting is not available in the first meeting, the second meeting shall be convened on 21/04/2022 in the same place and time. The postponed meeting is considered valid in all cases.

7-Specialdecision: This is the decision issued by majority vote of shareholders who hold at least 75% of the shares represented at the general assembly meeting of the joint stock company.

8-Investor Rights Guide in Securities, is available on the main page of the Authority's official website, according to the following link https://www.sca.gov.ae/ar/services/minority-investor-protection.aspx

9- E Voting:

• SMS containing link of the Registration, Attendance, e-Voting and access code will be sent to shareholders one day prior to the AGM 13/04/2022.
• Shareholder is able to register (registration for attendance) upon receiving the link and until the commencement of the AGM at 11am on Thursday 14/04/2022.
• e-Votingwill only be available for shareholders registered before the AGM commencement at 11am and until the end of the AGM.
• For any queries related to Electronic Registration, Attendance and e-Voting, please contact Dubai Financial Market, Customer Services on [phone] or contact the company`s investor relation on phone [phone] or [e-mail]
• Shareholders can watch live video streaming of the AGM meeting through the link