EGM and OGM resolutions

Date: 10th November 2022

Resolutions of the Extraordinary General Meeting and the Ordinary General Meeting of the Shareholders of bank muscat held on Wednesday, 9th November, 2022

First: The Extraordinary General Meeting :

1. Approved the increase of the authorized share capital of the Bank to RO. 800,000,000/- and amend the Article (5) of the Articles of Association of the Bank, accordingly. The proposed amendments shall not, however, be effective and valid unless have been approved by the regulatory bodies.

2. Approved the issuance (by way of dividend) of 375,319,853 subordinated, perpetual AT1 bonds to the Bank's shareholders list at the rate of 1 bond per 10 ordinary shares held by the shareholders on the meeting date and that is in accordance to the conditions.

3. Approved to authorize the Board of Directors or whoever they delegate to take all necessary actions and approvals to complete the aforesaid transaction.

Second: The Ordinary General Meeting:

1. Approved the distribution of bonus shares at the rate of 1 bonus share for every 1 share held by the shareholders of the Bank on the meeting date, from the share premium reserves of the Bank for the financial year ended 31st December, 2021. The approval of the distribution of bonus shares will result in an increase in the issued share capital of the Bank from 3,753,198,531 shares (aggregating to R.O. 375,319,853) to 7,506,397,062 shares (aggregating to R.O. 750,639,706).

2. Approved to authorize the Board of Directors or whoever they delegate to take all necessary actions and approvals to complete the aforesaid transaction.

Secretary to the Board of Directors