The United Cooperative Assurance Company announced the Board of Directors decision issued on 14 January 2024 appointing the Chairman and members of the Audit Committee, as this appointment is effective from the date of commencement of Membership of the Audit Committee members in consistent with the Board of Directors term extending from 13 January 2024 until 12 January 2027, after obtaining a non-objection from the Insurance Authority issued on 19 February 2024. The Audit Committee is composed of: Mr. Mohammed Abdullah Al-Yahya (Independent Director) Chairman; Mr. Ahmed Tawfiq Al-Khamis (Independent Non Board member) Member; Mr. Tariq Ali Al-Fayez (Independent Non Board member) Member; and Mr. Mohammad Hadi Al-Duwais (Independent Non Board member) Member. Mohammed Abdullah Al-Yahya Membership Start Date is January 13, 2024.

Mr. Muhammad Al-Yahya has a high academic and professional qualification. He obtained a Bachelor?s degree in Civil Engineering from Florida Agricultural and Mechanical University - the United States of America. He is a member of the company?s Board of Directors, and has previously worked in the banking and financial sector in the Kingdom and abroad for more than 30 years.

In addition he was a director in several insurance companies in the past ten years. Ahmed Tawfiq Al-Khamis Membership Start Date is January 13, 2024. Mr. Ahmed Al-Khamis has a high academic and professional qualification.

He obtained a Bachelor?s degree in Finance from King Fahd University of Petroleum and Minerals, a Risk Management Practitioner Certificate from Excelos, and a General Certificate for Insurance Fundamentals - Institute of Banking. He also previously worked in the banking and financial sector in the Kingdom for more than 10 years, including leading positions in an insurance company. Tariq Ali Al-Fayez Membership Start Date is January 13, 2024.

Mr. Tariq Al-Fayez has a high academic and professional qualification, as he obtained a Bachelor?s Degree in Marketing from King Fahd University of Petroleum and Minerals - Saudi Arabia, and an advanced certificate in Governance, Compliance and Risk Management from - Merck - UAE. He also previously worked in the banking and financial sector in the Kingdom for a period more than 10 years, including leading positions in an insurance company. Mohammad Hadi Al-Duwais Membership Start Date is January 13, 2024.

Mr. Mohammad Al-Duwais has a high academic and professional qualification. He obtained a Bachelor?s degree in Accounting - King Abdulaziz University, and a Master degree in Banking Management - Institute of Public Administration, and a Fellowship of the Saudi Organization for Certified Public Accountants - the Saudi Organization for Certified Public Accountants. Kingdom of Saudi Arabia.

He also previously worked in several companies operating in the banking, financial and commercial sectors in the Kingdom for more than 15 years, including leading positions in an insurance company.