Power to build
strong communities



Board of Directors resolutions disclosure 01 Mar 2016

Phoenix 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 29 February 2016:

1. Approval of the audited financial statements for the year ended 31 December 2015 together with the Board of Directors’ Report and the Corporate Governance Report.
2. Request the Shareholders in forthcoming AGM to authorize the Board of Directors to determine and distribute cash dividends to the Shareholders of the Company (who are registered with the MCDC as of the dates to be decided by the Board of
Directors) in July 2016 and January 2017 out of the retained earnings as per the audited financial statements for the year ended 31 December 2015, provided that the aggregate amount shall not exceed 7.9% of the paid up share capital of the
Company (i.e., 7.9 Baizas per share).
3. Recommend the appointment of the auditors of the Company.
4. Approval of the agenda of the annual general meeting of the Company on 31 March 2016.
5. Approval of the revision to the Audit Committee Charter.