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Board of Directors resolutions disclosure 03 Jul 2016

The management of the Phoenix Power Company SAOG (the “Company”) on behalf of the Board of Directors of the Company advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that in accordance with the resolutions passed at the Annual General Meeting of the Company on the 31st March 2016 and as resolved by the Board of Directors at their recent meeting :

“To distribute cash dividend of Baizas 3.2 per share, out of the retained earnings as per the audited financial statements for the financial year ended 31st December 2015 to the shareholders of the Company who are registered in the Company’s shareholders’ register with the Muscat Clearing & Depository Company SAOC as on 17th July 2016.”