Orascom Investment Holding S.A.E. at its board meeting held on August 14, 2023 approved incorporate a subsidiary with the business activity of Commercial Enterprises & Management under the name of Nubay FZCO, with a paid-up capital of AED 500,000 (AED 1,000 per share), with OIH share to be 285,000, representing 57% of the capital, and to appoint Mr. Marwan Hussein as manager, and delegate Mr. Oussama Nassif to take all necessary actions to implement the Board resolution.