Board Election

Bank Audi

April 8, 2016

Announcement

Board Election

The Ordinary General Assembly of Shareholders of Bank Audi S.A.L. convened on April 8, 2016 and resolved, in consideration of the fact that the mandate of the Board of Directors has reached its term, to re-elect the current Directors for a new 3 year mandate (that will end upon holding the Annual General Assembly that will examine the accounts of the year 2018).

The Board of Directors is composed as follows:

H.E. Mr. Raymond W. Audi;

Dr. Marwan M. Ghandour;

Dr. Freddie C. Baz;

Mr. Samir N. Hanna;

Sheikha Suad H. Al Homaizi;

Sheikha Mariam N. Al Sabbah;

Mr. Marc J. Audi;

Dr. Imad I. Itani;

Mr. Abdullah I. Al Hobayb;

Dr. Khalil M. Bitar.

The newly elected Board convened following the General Assembly and resolved, amongst other things, to:

(i) re-elect:

- H.E. Mr. Raymond W. Audi as Chairman of the Board - General Manager;

- Dr. Marwan M. Ghandour as Vice-Chairman;

- Dr. Freddie C. Baz as Vice-Chairman;

(ii) confirm the re-appointment of the General Managers including the re-appointment of Mr. Samir N. Hanna (Group CEO - General Manager).

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