Methanol Chemicals Company (Chemanol) announces the formation of Audit Committee

Element List	Explanation
Introduction	Methanol Chemicals Company (Chemanol) is pleased to announce the decision of the Board of Directors in its meeting held on November 14, 2024, regarding the formation of the Audit Committee for the new term of the Board which commenced on November 12, 2024, and continues for a period of four years, ending on November 11, 2028.

The Audit Committee members are:

1- Mr. Yousif bin Abdullah bin Abdulaziz Al-Rajhi (Independent) – Chairman.

2- Mr. Saad bin Ibrahim Al-Mushawah (Non-Board Member) – Member.

3- Dr. Abdullah bin Saghir Al-Husseini (Non-Board Member) – Member.

4- Mr. Saleh bin Muqbil Al-Khalaf (Non-Board Member) – Member.

Element List	Explanation
Appointed Member Name	Mr. Yousif bin Abdullah bin Abdulaziz Al-Rajhi
Membership Start Date	2024-11-14 Corresponding to 1446-05-12
Brief Resume of the Appointed Member	Mr. Yousif Abdullah Al-Rajhi holds a Bachelor’s degree in Economics and Political Science from King Saud University, KSA, and a Master’s degree in Development and Administration from Western Michigan University, USA. He currently serves as board and committee member for several joint stock companies and financial institutions both inside and outside the Kingdom of Saudi Arabia. He is the Vice Chairman of the Board of Directors of Abdullah Al-Rajhi Endowments Holding Company and the Vice Chairman of the Board of the Bangladesh Islamic Bank Ltd. He also served as a member of the Audit Committee of Chemanol during the last term. With over 35 years of experience, Mr. Yousif Al-Rajhi has held senior leadership and executive positions in major commercial companies and banking institutions.
The date of the approval by other official authorities	N/A

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Appointed Member Name	Mr. Saad bin Ibrahim Al-Mushawah
Membership Start Date	2024-11-14 Corresponding to 1446-05-12
Brief Resume of the Appointed Member	Mr. Saad bin Ibrahim Al-Mashouh holds a Bachelor's degree in Industrial Management from King Fahd University of Petroleum and Minerals, a specialized course in Financial Management and Investment from Chase Manhattan Bank, USA, and a specialized course in Finance and Economics from Harvard University, USA. He currently serves as a board member in several investment, industrial, and financial institutions (Bank AL Jazira, Qassem Cement, and Abdullah Al Othaim Markets Co. in addition to chairing and being a member of audit committees at various listed companies on the Saudi Stock Exchange, such as Bank Al-Jazira, Thob Al Aseel Co., and Qassim Cement Co. He also chaired the Audit Committee of Chemanol during the last term, in addition to board and committee memberships in several listed and unlisted companies.

Mr. Saad Al-Mashouh has nearly 40 years of experience, during which he has held several leadership and executive positions. Most notably, he was the Head of the Lending Team at the Saudi Industrial Development Fund (SIDF) and the CEO of Gulf Union Foods Co. The date of the approval by other official authorities N/A

Element List	Explanation
Appointed Member Name	Dr. Abdullah bin Saghir Al-Husseini
Membership Start Date	2024-11-14 Corresponding to 1446-05-12
Brief Resume of the Appointed Member	Dr. Abdullah bin Saghir Al-Husseini holds a Bachelor's degree in Accounting from King Abdulaziz University, a Master’s degree in Accounting Science from King Saud University, and a PhD in Financial Accounting and Auditing from University of Kent, UK. He is also a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), a Certified Internal Auditor (CIA), and a Licensed Expert in Financial Consulting.

Dr. Al-Husseini currently serves as board and committee member for several listed companies on the Saudi Stock Exchange, including Gulf Training and Education Co., Allianz Insurance Co., and other listed companies. He has over 35 years of experience, during which he has held numerous leadership positions. Notably, he has been the Dean and Professor of Financial Accounting and Auditing at the College of Business Administration at Prince Sultan University since 2010. He is also a Financial and Administrative consultant for many private entities and government agencies. The date of the approval by other official authorities N/A

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Appointed Member Name	Mr. Saleh bin Muqbil Al-Khalaf
Membership Start Date	2024-11-14 Corresponding to 1446-05-12
Brief Resume of the Appointed Member	Mr. Saleh Al-Khalaf holds a Bachelor's degree in Accounting from King Saud University. He is a Fellow of the Saudi Organization for Certified Public Accountants (SOCPA) as well as a Fellow of the American Institute of Certified Public Accountants (CPA).

Mr. Saleh Al-Khalaf has 30 years of practical experience in accounting, finance, internal and external auditing, and corporate governance across several leading companies. In addition, he has served on the boards of directors and audit committees of various companies and has provided professional consulting in auditing, accounting, and corporate governance. He is the founder and partner of Khabeer Accounting Consulting Co. The date of the approval by other official authorities N/A

Element List	Explanation
Date of Board Meeting in which Appointed New Member(s) were Appointed	2024-11-14 Corresponding to 1446-05-12

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.