GFH Financial Group B.S.C.

The ordinary general meeting of GFH Financial Group B.S.C. was held on October 9, 2024, via visual communication, chaired by Mr. Hisham Alrayes. The meeting achieved a quorum of 39.14% attendance. During the meeting, several resolutions were approved: 1. The minutes of the previous meeting from March 24, 2024, were approved. 2. The Board's recommendation to establish a Sukuk Programme valued at up to USD 500 million through a Special Purpose Vehicle (SPV) was approved, contingent on obtaining necessary regulatory approvals. Shareholders also approved the issuance of Sukuk up to USD 500 million in one or more tranches. 3. Modifications to the terms and conditions of the existing USD 500 million Sukuk due in 2025 were approved, including an offer for early redemption of the outstanding certificates. 4. The Board of Directors was authorized to undertake necessary actions for executing the Sukuk Programme and Offer, which includes obtaining regulatory approvals, concluding agreements, and performing essential actions as per the agreements related to the Sukuk Programme and the Offer.

GFH Financial Group B.S.C. announced that it has increased its stake in Khaleeji Bank B.S.C. from 57.95% to 82.95%, a 25% increase, effective from September 30, 2024. This investment is expected to positively impact the Group's financials and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

GFH Financial Group has announced the purchase of 134,287,812 treasury shares, increasing its total treasury shares to 218,474,375, which represents 5.7% of the total issued shares as of September 30, 2024. The announcement was made by Mariam Jowhary, the Head of Compliance and AML.

GFH Financial Group announced that the Ordinary General Meeting scheduled for Wednesday, October 2, 2024, did not meet the required quorum, with only 41.58% attendance. Consequently, a second meeting is scheduled for Wednesday, October 9, 2024, at 11:00 a.m. via modern visual communication methods.

GFH Financial Group B.S.C. released an announcement on October 2, 2024, detailing their market-making activities and treasury shares for September 2024. In accordance with the Central Bank of Bahrain's requirements, the company disclosed the market-making transactions conducted by their liquidity providers: SICO in Bahrain Bourse and BHM Capital in Dubai Financial Market and Abu Dhabi Securities Exchange. As of September 30, 2024, GFH held 84,186,563 treasury shares, representing 2.20% of the Group’s total outstanding shares. During September, SICO purchased 2,887,408 securities and sold 1,253,127 securities on Bahrain Bourse, with total money paid amounting to USD 984,520 and total money received amounting to USD 427,304.

GFH Financial Group B.S.C. has announced that its Board of Directors will hold a meeting on Thursday, November 7, 2024, at 2 p.m. (Kingdom of Bahrain time). The agenda includes reviewing the financial results for the third quarter of 2024 and discussing other internal matters. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

GFH Financial Group B.S.C. (GFH) and Ithmaar Holding B.S.C. (Ithmaar) announced on 19th September 2024 that they are still in the negotiation process for GFH to acquire Ithmaar’s financing and investment portfolios, subject to regulatory approvals. Shareholders will be informed of any further developments on a regular basis. The expected financial impact will be disclosed in due course. Previous relevant disclosures were made on 6th March, 7th April, 6th May, and 6th June 2024. The announcement was made by Mariam Jowhary, Head of Compliance & AML at GFH.

GFH Financial Group B.S.C. announced that Capital Intelligence Ratings has reaffirmed their Long-Term and Short-Term Foreign Currency Ratings at "BB-" and "B" respectively, with a stable long-term outlook. The ratings are supported by GFH's adequate liquidity, low refinancing risk, good debt service record, geographic diversification of assets, improved capitalization, and satisfactory profitability. The company stated that there is no expected financial impact from this credit rating classification on its business or financial position.

GFH Financial Group has scheduled an Ordinary General Meeting for October 2, 2024, via video conferencing. If the required legal quorum is not met, subsequent meetings are planned for October 9 and October 16, 2024. The agenda includes: 1. Approval of the minutes from the previous meeting held on March 24, 2024. 2. Approval of the Board's recommendation to establish a Sukuk Programme worth up to $500 million through a Special Purpose Vehicle (SPV), subject to necessary regulatory approvals. 3. Approval of modifications and an offer to early redeem outstanding certificates from the 2020 Sukuk issuance. 4. Delegation of powers to the Board of Directors to carry out the Sukuk Programme and Offer, including obtaining necessary regulatory approvals and concluding agreements. 5. Delegation of powers to the Chief Executive Officer to conduct necessary procedures for the Sukuk Programme and Offer. 6. Discussion of any other matters as per Article 207 of the Commercial Companies Law. The meeting details and contact information are provided for further inquiries.

GFH Financial Group B.S.C. disclosed its market-making activities for August 2024, in compliance with the Central Bank of Bahrain's requirements for monthly reporting by listed companies. The details include transactions by the market maker SICO in Bahrain Bourse and the liquidity provider BHM Capital in Dubai Financial Market and Abu Dhabi Securities Exchange. As of August 31, 2024, SICO purchased 3,198,598 securities and sold 1,274,448 securities. The total money paid was USD 1,007,885, while the total money received was USD 411,461. The securities balance stood at 2,925,000, and the cash balance was USD 4,920,869.