Board of Directors meeting decisions 26 feb 2020

Edita Food Industries - Summary of Resolutions of the Board of Directors' Meeting convened on 26/2/2020

Cairo, February 26, 2020

Edita Food Industries SAE announces that the Board of Directors Meeting of the Company convened on Wednesday 26 February 2020 and unanimously resolved the following resolutions:

1. Approved the minutes of the previous board of directors meeting (no. 142) dated 30/10/2019.

2. Approved the Board of Directors' report for the Company's activities for the fiscal year ending on December 31, 2019.

3. Approved the auditor's report on the standalone and consolidated financial statements of the Company in connection with fiscal year ending on December 31, 2019.

4. Approved the Company's consolidated and standalone statements for the fiscal year ending on December 31, 2019.

5. Approved the proposal for distribution of dividends for the fiscal year ending on December 31, 2019, which entails distributing to the shareholders an amount of EGP 145,72,580 from the Company's profits for the fiscal year ending December 31, 2019, by way of a coupon of 0.20 EGP for each share, to be presented to the ordinary general meeting for its approval.

6. Approved the Amendment of the Signatory Authorities of the Company.

7. Approved the calling the Ordinary General Assembly Meeting to convene.

8. Approved the delegation of the Chairman and Managing Director to take the necessary procedures for calling the Ordinary General Assembly Meeting to convene.

9. Updated the Board of Directors on the Expansion work in Morocco highlighting that construction of the factory in Morocco started in 4Q2019 and the factory should be operational in 2020.

-End-

Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development Senior DirectorT: +202 3851 6464 | M: +20 100 1542428 |  [email protected]