Result of Meeting

Arabian Food Industries Company Domty S.A.E.

Results of the board of directors meeting held on March 28, 2019

The Board of Directors in its meeting on March 28, 2019 unanimously resolved the following:

1- Approved the minutes of the previous Board of Directors meeting.

2- Approved the audit committee report for the fiscal year ended on December 31, 2018.

3- Approved the external auditor's report for the consolidated and standalone financial statements for the fiscal year ended on December 31, 2018.

4- Approved the consolidated and standalone financial statements for the fiscal year ended on December 31, 2018.

5- Approved the board of directors' annual report for the fiscal year ended on December 31, 2018 and approved the corporate governance report.

6- Approved the proposal for distribution of profits for the fiscal year ending on December 31, 2018 to be presented to the ordinary general meeting for its approval as follows:

- To distribute the employees share in profits of 2018 in full (10%) in accordance with the companies law number 159 for the year 1981.

- Distributing to the shareholders an amount of EGP 56 721 739 by way of a coupon of 0.20 for each share.

- To pay a remuneration to the Board of Directors of the profits of 2018 in a manner that does not contradict Law 159 of 1981 and the Company's Articles of Association with a total of EGP 7,480,574 distributed among the executive members of the Board of Directors

7- Proposed BOD allowance and remuneration for the fiscal year ending 31/12/2019 to be EGP 300 000 for each independent and non executive member.

8 - Approved calling for the Annual Ordinary General Meeting to convene and authorized and delegated the Chairman to send the invitations and to set the date of the meeting.

9- In light of the Company's plan to develop and modernize the production lines to become fully automated, the Board decided to authorize the Executive management to proceed with selling some production lines that are not fully automated; this proposal will be presented to the ordinary general meeting for its approval

-Ends-