The Extraordinary General Assembly of OTC 101 City Group Company, held on August 19, 2025, approved the cancellation and write-off of the entire treasury shares balance amounting to 8,900,224 shares, with a total value of KWD 4,628,117, as stated in the consolidated financial statements for the fiscal year ending December 31, 2024.

The company also approved the reduction of its capital by the nominal value of the treasury shares, amounting to KWD 890,022.400, and covering the difference between the nominal value and the carrying value of treasury shares (amounting to KWD 3,738,095) using the retained earnings and reserves.

Accordingly, the company’s capital will be reduced from KWD 11,300,788.950 to KWD 10,410,766.500
(Ten million, four hundred ten thousand, seven hundred sixty-six Kuwaiti Dinars and 500 Fils only).

The Assembly also approved amending Article (6) of the Memorandum of incorporation and Article (5) of Chapter One of the Articles of Association to read as follows:

“The company’s authorized, issued, and paid-up capital is set at KWD 10,410,766.500 (Ten million, four hundred ten thousand, seven hundred sixty-six Kuwaiti Dinars and 500 Fils only), divided into 104,107,665 shares (One hundred four million, one hundred seven thousand, six hundred sixty-five shares), with a nominal value of 100 Fils per share, and all shares are cash shares".