GB Auto E : announces to its shareholders that its affiliate MNT Investments B.V. has signed the definitive agreements for the sale of a 21.7% stake

Ghabbour Auto (AUTO.CA)

Press Release

Cairo,

October 27th 2022

Disclosure: Regarding one of the affiliates of GB Auto S.A.E

GB Auto S.A.E. announces to its shareholders that its affiliate MNT Investments B.V. has signed the definitive agreements for the sale of a 21.7% stake to Chimprop 2 Investment SPV RSC Ltd, on behalf of Chimera Investments LLC.

Accordingly, herewith, GB Auto is selling a 7.5% stake in MNT Investments B.V., with total proceeds of USD 60mn, with an earnout component that could potentially lead to total proceeds of USD 71.3mn, should the earnout component come into effect. The sale reduces GB Auto's indirect ownership in MNT Investments to 49.5%.

The Company is in the process of obtaining the requisite approvals in accordance with the relevant laws to execute the above-mentioned transaction. Upon the satisfaction of the required approvals, the transaction could be concluded.

Shareholders shall take in consideration that contemplated transaction is conditional on satisfying the regulatory approvals. It should be noted that the contemplated transaction may or may not be executed subject to satisfaction of the requirements of the regulatory approvals. Accordingly, shareholders should note and consider the above-mentioned points while trading on the share.

MNT Investments B.V. indirectly owns majority stake in Mashroey Trading Co. S.A.E. and Tasaheel Microfinance Company S.A.E, the leading companies in consumer finance and microfinance in Egypt, in addition to indirect ownership in other FinTech companies.

Arqaam Capital, the specialist emerging and frontier investment bank, has acted as the exclusive sell-side financial advisor to GB Auto S.A.E, with regards to the sale of their stake in MNT Investments B.V.

-Ends-

About GB Auto S.A.E.

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GB Auto S.A.E. (AUTO.CA on the Egyptian Exchange) is a leading automotive company in the Middle East and non-bank financial services provider in Egypt. Across six primary lines of business - Passenger Cars, Motorcycles & Three-Wheelers, Commercial Vehicles & Construction Equipment, Tires, After-Sales, and Iraqi operations - the company's main business activities include assembly, manufacturing, sales and distribution, financing and after-sales services.GB Auto's portfolio of brands includes Hyundai, Mazda, Chery, Changan, Haval, Karry, Bajaj, Marcopolo, Iveco, Volvo Truck and Volvo Bus, Volvo Construction Equipment, Mitsubishi Fuso, SDLG, Higer, shacman, Lassa, Yokohama, Westlake, Double Coin, Goodyear, Thunderer, Verde, Techking, Sun full, MG, and Gazpromneft. GB Auto has operations in Egypt and Iraq. The company's NBFS' segment branded GB Capital offers leasing, consumer finance, microfinance, Nano loans, SME lending, BNPL, collection, Peer-to-Peer transfers, Bill payments, fleet quasi-operational leasing, factoring, securitization, mortgage finance, and insurance under the following brands - GB Lease, Drive, MNT-Halan, Haram, Capital Securitization, Bedaya, KAF, and Forsa. The company is headquartered in Giza, Greater Cairo Area,

Egypt. ir.ghabbourauto.com

Investor Relations Contact Information:

Mansour Kabbani

Board of Directors Member

Marina Kamal

Investor Relations Senior Manager

Sarah Maged

Investor Relations Communication Manager

Email:	[e-mail]
Tel:	[phone]
Fax:	[phone]

Address: Cairo-Alexandria Desert Road, Km. 28, Industrial Zone, Abu Rawash

P.O. Box 120, Giza, Egypt

Forward-Looking Statements

This document may contain certain "forward-looking statements" relating to the Company's business. These may be identified in part through the use of forward-looking terminology such as "will," "planned," "expectations" and "forecast" as well as similar explanations or qualifiers and by discussions of strategy, plans or intentions. These statements may include descriptions of investments planned or currently under consideration or development by the Company and the anticipated impact of these investments. Any such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance, decisions or achievements of the Company to be materially different from any future results that may be expressed or implied by such forward-looking statements.

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