Qatar Exchange | Qatar Insurance Company | A binding merger agreement with Vision Insurance SAOG

Qatar Insurance Company advises that further to its disclosure made on April 2022, the Company would like to announce that Oman Qatar Insurance Co. SAOG (the “Company”) – subsidiary to the Group - has entered into a merger agreement with Vision Insurance SAOG (“VISN”) under which the Company and VISN have agreed to take the necessary steps to implement a merger by incorporation under Article 33(1) and Article 35 of the Commercial Companies Law (Royal Decree 18/2019) (the “Merger Agreement”) (together, the Merger).Pursuant to the Merger Agreement, the Company and VISN will merge, and all the assets and liabilities of VISN will be transferred to the Company. On completion of the Merger, VISN will de-list from the MSX and cease to exist as a legal entity and its shares will be cancelled.The Merger is still subject to approval from the relevant regulatory bodies, as well as from the respective shareholders of the two entities. The Company and VISN will invite each of their shareholders respectively to consider and, if thought fit, approve the Merger at an extraordinary general meeting in due course. For more information about merger, please visit Muscat Stock Exchange (MSX) website. https://www.msx.om/details.aspx?b1=News&t=News&i=70277Further announcements on any material developments will be made as required.