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Board of Directors resolutions - February 2022 22 Feb 2022

Board of Directors resolutions’ disclosure

Phoenix Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Stock Exchange and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 22 February 2022:

1.    Approval of the audited financial statements for the year ended 31 December 2021 together with the Board of Directors’ Report, Management Discussion and Analysis Report and the Corporate Governance Report.

2.    Ratification of the related party transactions in 2021.

3.    Approval of the related party transactions in 2022.

4.    Approval of the Corporate Social Responsibility Annual Budget for 2022.

5.    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 2022 and January 2023 out of the retained earnings as per the audited financial statements for the year ended 31 December 2021, provided that the aggregate amount shall not exceed 4.5 Baizas per share.

6.    Approval of the agenda of the annual general meeting of the Company on 17 March 2022.

7.    Recommend the appointment of the auditors of the Company for the financial year ending 31 December 2022 and determination of their remuneration.



Ahmed Zahir AL Abri

Chief Financial Officer / Disclosure Officer