Press releases, Reports & Disclosures for Drake & Scull International P.J.S.C

On September 23, 2024, Drake & Scull International PJSC announced the final list of accepted commercial debts and the amounts to be paid to each creditor. This follows a previous announcement on January 30, 2024, which listed creditors in Al Bayan and Gulf News newspapers. The current announcement, published in Al Bayan and Gulf Today newspapers, states that the debts are considered finally paid at a rate of 10% of the accepted debt value. Creditors listed in the announcement are requested to contact the company via email at Investor.Relation@drakescull.com.

Date: 3 September 2024 Mr. Hamed Ahmed Ali CEO, Dubai Financial Market Dubai, United Arab Emirates Dear Sirs, Subject: Resolutions of the Board of Directors to be taken in circulation for Drake & Scull International PJSC (the “Company”) We would like to inform you that the Board of Directors of Drake & Scull International PJSC will take decisions by circulation on Friday, 06/09/2024, to discuss routine matters and operational business of the Company. Sincerely Yours, Drake and Scull International PJSC

Following the General Assembly meeting of Drake & Scull International on July 30, 2024, a new Board of Directors was elected. The newly elected Board held its first meeting on August 2, 2024, where they elected His Highness Sheikh Theyab bin Tahnoon bin Mohammed Al Nahyan as Chairman and Engineer Abdullah Atatreh as Vice Chairman. Sheikh Theyab emphasized the importance of the construction sector in the UAE and expressed confidence in Drake & Scull's positive impact on the industry. Recently, the company announced the write-off of approximately AED 4 billion in losses and the resumption of its stock trading on the Dubai Financial Market after a suspension of over six years.

On August 2, 2024, the Board of Directors of Drake & Scull International PJSC held their seventh meeting of the year at 3:00 PM at the company's offices and via Zoom. The Board approved the minutes of the previous meeting, elected H.H. Shaikh Theyab bin Tahnoon Bin Mohammad Al-Nahyan as Chairman, and ENG. Abdulla Atatreh as Vice-Chairman. Additionally, the Board appointed the Chairman and members of the subsidiary committees.

On July 30, 2024, a letter was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding the seventh Board of Directors meeting of 2024 for Drake & Scull International PJSC. The meeting is scheduled for Friday, August 2, 2024, at 3:00 PM at the company's offices. The agenda includes reviewing and approving the previous meeting's minutes, appointing a new Chairman and Vice Chairman of the Board, appointing new Chairmen and members to the Company's subsidiary committees, and appointing a Board Secretary.

Date: 30 July 2024 Mr. Hamed Ahmed Ali CEO, Dubai Financial Market Dubai, United Arab Emirates Subject: Notification regarding withdrawal from candidacy for membership in the Board of Directors of Drake & Scull International PJSC The company announces that Mr. Shafiq Abdel Hamid, the current Chairman of the Board of Directors, has submitted a request to withdraw from candidacy for membership in the next Board of Directors. The company, represented by its Board of Directors and Executive Management, extends its sincere thanks to Mr. Shafiq Abdel Hamid for his efforts during his term, which included completing the restructuring process that ensured the company's continuity. Sincerely, Board Secretary Dana Abu Alghanam

On July 29, 2024, Drake & Scull International PJSC informed its shareholders that the Dubai Court of Appeal issued a judgment in its favor in case No. 1985/2021 Commercial Appeal. The court ruled that Khaldoun Rashid Tabari, the former CEO of Drake & Scull, and Saleh Muradweij are jointly and severally liable to pay the company AED 151,979,857 as compensation for material and moral damages, along with legal interest of 5% from the date the judgment becomes final until full payment is made. The judgment is subject to appeal. The company has initiated enforcement procedures and secured attachments on the defendants' assets.