Results of Extraordinary General Meeting

Bank Audi

March 6, 2020

Resolutions adopted by the Extraordinary General Meeting of Shareholders of

March 6, 2020:

All the resolutions set out in the Information Statement dated February 17, 2020 were duly passed:

First resolution: Confirmation of the adequate completion of the procedures for the increase of the Bank's capital through the issuance of 188,789,011 common shares

The Extraordinary General Meeting of shareholders of Bank Audi sal, having reviewed all submitted documents, declares that:

- 188,789,011 common shares with a nominal value of LL 1,670 each, have been issued, and their aggregate nominal value amounting to LL 315,277,648,370 has been fully paid;

- The capital increase has been subscribed to and paid within the set period by the persons listed in the report, stamped by the Central Bank of Lebanon, and submitted to the assembly, showing the number of shares allocated to each.

Pursuant to the above, the Extraordinary General Meeting of shareholders of Bank Audi resolves to:

- Confirm and approve the adequate completion of all formalities and actions undertaken to execute the increase of the Bank's capital from LL 677,601,170,680 to LL 992,878,819,050;

- Declare that Bank Audi's capital is now LL 992,878,819,050, fully paid and divided into 594,538,215 nominal shares having a par value of LL 1,670 per share;

- Declare, pursuant to the above, that the amendment of articles 6 and 8 of the Bank's By-laws as per the fourth resolution of the Extraordinary General Meeting held on February 20, 2020 is now effective.

Second Resolution: Listing of the newly-issued 188,789,011 Common Shares on the Beirut Stock Exchange

The Extraordinary General Meeting of Shareholders of Bank Audi sal resolves to list the 188,789,011 newly issued common shares on the Beirut Stock Exchange.

Third Resolution: Discharge of the Chairman and members of the Board of Directors in respect of actions relating to the Capital Increase

The Extraordinary General Meeting of Shareholders of Bank Audi sal, resolves to grant discharge to the Chairman and members of the Board of Directors in respect of all actions relating to the capital increase through the issuance of 188,789,011 new common shares, and grants the Chairman of the Board of Directors and General Manager Mr. Samir Hanna (acting singly) or any two Directors - General Managers (acting jointly), and/or any other person empowered by any of them, the power to carry out all legal formalities, as well as the publication, registration and execution of all related documents, with the authority to further delegate all or part of the aforementioned powers hereby granted to them.

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