This document has been prepared according to the disclosure requirements of the SCA Board of Directors’ Decision No. (32/R.M.) of 2019, which mandates procedures for companies with shares listed on the market whose accumulated losses are 20% or more of their paid-up capital. Compliance with this decision is required when losses reach 50% or more. As of May 13, 2026, Ithmaar Holding B.S.C. reported accumulated losses of USD 826.44 million, equating to 109% of its paid-up capital. Initially, in December 2016, the losses were 68.8% of the paid-up capital, primarily due to impairment provisions from non-core investments during financial crises. The early adoption of FAS30 in 2018 further increased losses to 98%. In 2020, accumulated losses rose by $87.5 million due to COVID-19's economic impact. The following year, losses decreased by $35.0 million due to net income. In 2022, losses increased by $29.9 million, and in 2023 by $9.3 million, both due to net losses. In 2024, losses decreased by $9.4 million, in 2025 by $1.01 million, and in 2026 by $1.2 million, all due to net profits attributable to shareholders.

This document outlines the financial status of Ithmaar Holding B.S.C., a company with accumulated losses amounting to 109% of its paid-up capital as of Q1 2026. The accumulated losses, valued at USD 826.44 million, have exceeded the threshold set by the SCA Board of Directors’ Decision No. (32/R.M.) of 2019, which mandates compliance when losses reach 50% or more of paid-up capital. The losses began in December 2016, primarily due to impairment provisions from non-core investments linked to financial crises. In 2018, early adoption of FAS30 increased losses to 98%. The impact of COVID-19 in 2020 further raised losses by $87.5 million. Subsequent years saw fluctuations, with losses decreasing in 2021 by $35.0 million due to shareholder net income, but increasing again in 2022 and 2023 by $29.9 million and $9.3 million, respectively, due to shareholder net losses. In 2024, losses decreased by $9.4 million, and in 2025 and 2026, they decreased by $1.01 million and $1.2 million, respectively, mainly due to net profits attributable to shareholders.

Ithmaar Holding B.S.C. has released its condensed consolidated interim financial information for the period ending on March 31, 2026.

Ithmaar Holding B.S.C. has announced that its Board of Directors held a meeting on Wednesday, May 13, 2026, at 2 PM, during which they approved the financial results for the period ending March 31, 2026. This announcement was made to the Bahrain Bourse and the Dubai Financial Market. The authorized signatory is Husain Ahmed Haider.

The ordinary general assembly meeting of Ithmaar Holding B.S.C. was held on Sunday, March 29, 2026, at 1:00 PM in the Noble Meeting Room at the Westin City Centre Bahrain, Seef District, Kingdom of Bahrain. The meeting was attended in person by several individuals, including board members and executives such as Jumaa Hassan Abood, Maysan Faisal Al Muscati, Mohammed Safar, Thaqib Mahmood Mustafa, Fatima Abdullah Mufeez, Hassan Jassim, and Arvind Sharma. Additionally, representatives from KPMG, the external auditor, were present. Electronically, the meeting was attended by His Royal Highness Prince Amr bin Mohammed Al Faisal Al Saud, Sheikh Dr. Osama Bahr, Sheikh Dr. Adel Al Marzouqi, Khadija Ahmed Ali, and Fatima Hassan. These individuals included the Chairman of the Board, members of the Sharia Supervisory Board, and representatives from the Central Bank of Bahrain's Islamic banking supervision department.

Ithmaar Holding B.S.C. announced that a Board of Directors meeting was held on Tuesday, March 31, 2026, at 1:00 PM. During the meeting, the Board reviewed and approved the Offering Circular related to the Rights Issue. The Offering Circular is still subject to final approval by the Central Bank of Bahrain.

The Annual Ordinary General Meeting of Ithmaar Holding B.S.C took place on Sunday, 29 March 2026, with a quorum of 51.62% achieved. The meeting approved several agenda items, including the minutes from the previous meeting, the Directors’ Report, the Sharia Supervisory Board’s Report, and the External Auditors’ Report for the financial year ending 31 December 2025. The Consolidated Financial Statements for the same period were also approved. The Board of Directors' recommendations for financial allocations were accepted, subject to regulatory approvals. Transactions with related parties or major shareholders were reported, and the Corporate Governance report was approved. The Board of Directors was discharged from liability for their duties during 2025. Additionally, the benefits and remuneration for the Sharia Supervisory Board for 2026 were reviewed, and the appointment of external auditors for 2026 was adopted, pending approval from the Central Bank of Bahrain. Other matters were addressed in accordance with Article 207 of the Bahrain Commercial Companies Law.

Ithmaar Holding B.S.C. has announced that its Board of Directors will meet on Tuesday, March 31, 2026, at 1:00 PM to discuss and approve the offering circular related to a Rights Issue.

Ithmaar Holding B.S.C. has announced that its Board of Directors will review and approve the financial results for the period ending on March 31, 2026. The meeting is scheduled for Wednesday, May 13, 2026, at 2:00 PM. This announcement is addressed to the Bahrain Bourse and the Dubai Financial Market. The authorized signatory for this announcement is Husain Ahmed Haider.

The Extraordinary General Meeting of Ithmaar Holding B.S.C. was held on Sunday, March 8, 2026, at 1:30 PM at the Al Dana Hall, Le Méridien Hotel, City Centre Bahrain, with the option for electronic attendance. The meeting was chaired by His Royal Highness Prince Amr bin Mohammed Al Faisal Al Saud, Chairman of the Board, who welcomed the shareholders, representatives from the Ministry of Industry and Commerce, the Central Bank of Bahrain, Bahrain Bourse, and auditors. The appointment of Ms. Fatima Abdullah Mafez as the meeting secretary was proposed and approved. The meeting's invitation and agenda were published on February 12, 2026, as required by the Commercial Companies Law. Representatives from KFin Technologies (Bahrain) W.L.L. confirmed the quorum for the second meeting, as the first meeting on March 5, 2026, did not meet the required quorum due to unforeseen circumstances. Shareholders representing two-thirds of the company's capital attended in person or by proxy. The meeting commenced at 1:30 PM. The minutes from the Extraordinary General Meeting held on May 29, 2024, were received and ratified, with the president allowing for discussion and inquiries.

Ithmaar Holding B.S.C held its second Extraordinary General Meeting (EGM) on March 8, 2026, with a quorum of 52.09%. The EGM approved the minutes from the previous meeting on May 29, 2024, and acknowledged reports from the Board of Directors, KPMG Fakhro, and RSM regarding a proposed recapitalization plan. Subject to regulatory approvals, the EGM also approved a reduction in the company's issued share capital from $757,688,757 to $94,673,308.25 by canceling 2,531,466,555 shares to extinguish accumulated losses, while maintaining the nominal share value of $0.25. The reduction will be on a pro rata basis, with shareholders retaining approximately one share for every eight previously held. The new number of shares will be 378,693,233.