1)

Without prejudice to the provisions of Federal Decree-Law No. (32) of 2021 referred to hereinabove, the provisions contained in this Decree- Law and the regulations and resolutions issued thereunder shall apply to the Company’s liquidation. The liquidation shall be carried out by one or more liquidators appointed by the general assembly by way of a special resolution. If the liquidation is based on a court judgment, the court shall indicate the method of liquidation and shall appoint the liquidator. The liquidator’s appointment decision shall specify his fees and powers, along with an obligation to provide a guarantee, if necessary. If the liquidator’s fees are not determined in the appointment decision, they shall be determined by the competent court.

2)

The decision appointing the liquidator shall be announced by registration in the Commercial Register, and such announcement shall be published in two local daily newspapers, one of which is published in Arabic, within a period not exceeding seven (7) days from the date of the announcement. Such appointment may be invoked vis-à-vis third parties only from the announcement date.

3)

The authority of the Company’s board of directors shall end when the Company goes into liquidation. In the course of liquidation, the Company shall retain legal personality to the extent necessary for the liquidation proceedings. The powers of the Company’s organizational units and affiliates shall be restricted to the liquidation proceedings that do not fall within the powers of liquidators.