Date: 10/04/2023

On Monday 10/04/2023 the SDC completed the process of decreasing the share capital of (31,165,176) shares of the United Iron & Steel Manufacturing Company to redeem accumulated losses as of 31/12/2019.

Thereby, the SDC records of of United Iron & Steel Manufacturing Company indicates the decrease of its capital from (32,165,176) shares to a registered capital of (1,000,000) shares as a result of the mentioned share capital decrease.

The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on 08/02/2021, and upon the approval of the Ministry of Industry, Trade and Supply on the share capital decrease issued on 05/06/2022.