Our ref: KIPCO/DGCEO 27/23 dated March 23, 2023

Boursa Kuwait Company

KUWAIT

Subject: Commenting on a news circulated on social media regarding KIPCO exiting its investment in Gulf Insurance.

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KIPCO

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With reference to the above subject, and in adherence to article (4-4) 'Dealing with Rumours and News' from module ten (Disclosure and Transparency) from the amended Executive Bylaws issued by CMA, and referring to the news circulated on social media about Kuwait Projects Company Holding "KIPCO" exiting its investment in Gulf Insurance Company", we would like to state the following:

KIPCO being a holding company, evaluates from time to time exit opportunities for its investments as part of its usual business activities. However, no binding and conclusive sale/purchase agreements have been executed that may require a disclosure as per CMA regulations.

We also reaffirm our commitment to remain in compliance with the instructions of the Capital Markets Authority in this respect.

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Sincerely,

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KIPCO

(�lAJI) LI.l!j-!ulc-LJLw.o o..5.>..w KuwattP,.oiaPhiComunM,,IHelGtir:ig}

Samer Khanachet

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Deputy Group Chief Executive Officer

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c()..D.:i...o.llg ;.i.o..o.Jlg a., 2_i...o..o.JI JWIlJl.llJ v-}!g_::, JU,.:> 504,847,626.900

Authorized, Issued and Paid up Capital: KD 504,847,626.900

Tel:

180 5885

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KIPCOTower

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Fax:

+965 2294 3499

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Sharq, Kuwait City

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Email:

kipco@kipco.com

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P.O. Box 23982 Safat

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Web:

www.kipco.com

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13100 Kuwait

G./g_::,JI13100

Commercial Registration No.: 23118

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Kuwait Projects Company (Holding) KSC published this content on 23 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2023 06:42:11 UTC.