Phoenix Power Company SAOG announced that at the meeting of the Board of Directors held on April 23, 2020, the directors accepted of the resignation of Mr. Peter Jones from his position as a member of the Board and a representative of Axia Power Holding B.V. with effective from April 23, 2020 due to personal related reasons. Accepted the resignation of Mr. Tomoki Nishino from his position as a member of the Board and as Chairman of Audit Committee with effective from April 23, 2020. 4. Accepted of the appointment of Mr. Adrian Rothlisberger, who has more than 30 years experiences in power sector, as temporary members with effective from April 23, 2020. Accepted the appointment of Mr. Tomoki Nishino who has more than 22 years of experience in power sectors as a member of the Board) as a representative of Axia Power Holdings B.V in replacement of Mr. Peter Jones with effective from April 23, 2020. The board approved the election of Mr. Carlos Alcazar as Deputy Chairman of the Board with effective from April 23, 2020. The board also approved of the appointment of Mr. Tomoki Nishino and Mr. Adrian Rothlisberger as members of Audit Committee with effective from April 23, 2020.