Emirates Telecom. Group Company (Etisalat Group) PJSC

Emirates Telecommunications Group Company (Etisalat Group) announced that the Court of Appeal of Casablanca has rejected Maroc Telecom's appeal and upheld the Commercial Court of Rabat's decision, requiring Maroc Telecom to pay 6.368 billion Moroccan dirham to Wana Corporate for alleged anti-competitive practices. Etisalat Group, which holds a 53% share in Maroc Telecom, expressed disappointment and plans to challenge the decision through all legal avenues. The ruling will not affect Etisalat Group's consolidated results for the second quarter of 2024 due to adequate coverage of international regulatory risks. Further updates will be provided as necessary.

Emirates Telecommunications Group Company PJSC (e&) announced that its wholly-owned subsidiary, e& enterprise, has signed a binding agreement to acquire 100% of GlassHouse, a cloud services provider based in Türkiye, for an enterprise value of $60 million. GlassHouse, founded in 2004, is a leader in data backup, business continuity, managed cloud, and SAP infrastructure services, serving 2,000 enterprises across various sectors with a team of over 150 employees. This acquisition aligns with e&’s strategic goals to expand its digital capabilities and global footprint, particularly in the Turkish IT services and cloud market. The transaction, financed through debt and not involving related parties, is expected to be EPS accretive and will have an insignificant impact on e&’s overall financials. Completion of the transaction is subject to customary conditions, and further updates will be provided as necessary.

Emirates Telecommunications Group Company (Etisalat Group) announced that the European Commission has opened an investigation into e&'s acquisition of PPF Telecom assets under the Foreign Subsidies Regulation (FSR). This follows a binding agreement signed on 1 August 2023 for e& to acquire a majority economic stake in PPF Telecom's assets in Bulgaria, Hungary, Serbia, and Slovakia, pending regulatory approvals. The investigation is a procedural step and does not determine the outcome. e& is committed to finalizing the transaction by year-end and is in constructive discussions with the European Commission. Updates will be provided as developments occur.

The document provides a review and interim condensed consolidated financial statements of the Emirates Telecommunications Group Company PJSC for the three-month period ending on 31st March 2024.

Emirates Telecommunications Group Company (e& group) held a board meeting on April 30th, 2024 with all board members present. The board approved the Condensed Consolidated Interim Financial Information for the three months ending on March 31st, 2024. They also discussed standard matters related to the company's business and passed appropriate resolutions.

The Emirates Telecommunications Group Company PJSC has released its earnings for the first quarter of 2024 on 30th April 2024. The information has been shared via the e& Investor Relations page.

The text is a review of the interim condensed consolidated financial statements for the Emirates Telecommunications Group Company PJSC. The report covers the financial performance of the company over a three-month period ending on 31 March 2024.

Resolution No. 377 of 2024 temporarily suspends trading of the shares of Emirates Telecom. Group Company (Etisalat Group) PJSC on the ADX. The decision is due to a Board of Directors meeting scheduled for 13:00 on 30-Apr-2024, which coincides with the trading session at ADX. As such, trading in ETISALAT shares will be suspended from 09:00 on 30-Apr-2024 until ADX receives the meeting results. The resolution mandates all department heads at ADX to implement this decision in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 25/04/2024.

The Board of Directors of Emirates Telecommunications Group Company (Etisalat Group) P.J.S.C., also known as "e&", will hold a meeting on Tuesday, 30th April 2024 at 1:00 p.m. The agenda includes discussing the Condensed Consolidated Interim Financial Information for the three months ended 31st March 2024, and other normal matters related to the company's business. The notification was issued by Hasan Mohamed Al Hosani, the Group Corporate Secretary.

The Emirates Telecommunications Group Company (Etisalat Group) conducted its General Assembly Meeting on April 23, 2024. The discussion included agenda items published in daily newspapers on March 28, 2024, and relevant resolutions were passed. The assembly also elected four directors to occupy board seats designated for shareholders other than the Government Shareholder. These include Sheikh Ahmed Mohamed Sultan Al Dhahiri, Mr. Abdelmonem Bin Eisa Alserkal, Mr. Khalid Abdulwahid Alrustamani, and Mr. Otaiba Khalaf Ahmed Al Otaiba. All four directors are non-independent and non-executive members.