The Board of Directors of Al Batinah Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 17 February 2021:

1. Appointment of Mr. Kartik Balasubramaniam as a member of the Board of Directors and a representative of Kharabel FZE, a juristic person, effective 17 February 2021, in place of Mr. Pascal Renaud who has tendered his resignation in February 2021. Mr. Kartik Balasubramaniam has more than 25-year experience in power business.
2. Approval of the audited financial statements of the Company for the year ended 31 December 2020 together with the Board of Directors’ Report and the Corporate Governance Report, and recommendation for approval of the shareholders in the forthcoming AGM.
3. Approval of the Management Discussion & Analysis Report.
4. Request the Shareholders in forthcoming AGM to authorize the Board of Directors’ to determine and distribute cash dividends in June 2021 and December 2021, out of the retained earnings as per the audited financial statements for year ended 31 December 2020, provided that the aggregate amount shall not exceed 7 Baizas per share.
5. Approval to convene AGM of the Shareholders of the Company on 14 March 2021.