Tourism Enterprise Co. (Shams) Announces the Results of the Ordinary General Assembly Meeting (First Meeting)

Element List	Explanation
Introduction	Tourism Enterprise Company (Shams) announces the results of the Ordinary General Assembly Meeting (First Meeting) held at 7:00 PM on Thursday, 7/16/2026 AD, corresponding to 2/2/1448 AH, in person and via modern technology in Al-Khobar City, where the attendance rate reached 41.3% of the shares represented in the capital.
City and Location of the General Assembly's Meeting	At Palm Beach Resort - Al Khobar Governorate - Half Moon Beach, in person and via modern technology.
Date of the General Assembly's Meeting	2026-07-16 Corresponding to 1448-02-02
Time of the General Assembly’s Meeting	19:00
Percentage of Attending Shareholders	41.3%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The following members of the Board of Directors attended the meeting:

1. Mr. Khalid bin Abdulaziz Al Bawardi - Chairman of the Board of Directors.

2.Eng. Abdullah bin Omar Al-Suwailem - Vice Chairman of the Board of Directors and Managing Director.

3. Mr. Rashid bin Sulaiman Al-Rasheed.

4. Dr. Wael bin Saad Al-Rashed. Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf The meeting was attended by committee heads:

1- Mr. Rashid bin Sulaiman Al-Rasheed - Chairman of the Audit Committee.

2- Dr. Wael Saad Al-Rashed - Chairman of the Nominations and Rewards Committee.

3-Eng. Abdullah bin Omar Al-Suwailem - Chairman of the Development and Investment Committee. Voting Results on the Items of the General Assembly's Meeting Agenda's Item 1: Approval of the dismissal of the current Board of Directors based on the request submitted by some of its shareholders, whose own shares representing 10.04% of the company's capital. These shareholders are:

- Mr. Saeed bin Saleh bin Abdulaziz Babiker.

- Lama International Investment Company.

- Saleh Abdulaziz Babiker Sons Trading and Contracting Company.

Justifications for the request:

1- The company's financial and operational results fell below shareholder expectations.

2- Accumulation of losses, resulting in a continued decline in shareholders' equity.

3- Failure to optimally utilize the company's available resources to develop its core business and activities.

Item 2: Voting on the election of Board members from among the nominees for the upcoming term, which begins on 17/07/2026, and lasts for four years, ending on 16/07/2030. This is subject to approval of Item 1. The following individuals were elected to the Board of Directors:

- Dr. Saif bin Fahd bin Ayed Al-Harbi

- Mr. Majed bin Nawwar bin Saleh Al-Otaibi

- Mr. Fares bin Abdulrahman bin Ibrahim Al-Fares

- Mr. Nasser bin Khalaf bin Awad Al-Barrak

- Dr. Sarah bint Fahd bin Abdullah Al-Subaie

- Mr. Khaled bin Mohammed bin Ali Al-Qazlan

- Dr. Fawaz bin Abdul-Sattar bin Abdullah Al-Alami

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.