BankMuscat (S.A.O.G)

Net Asset Value • Oct 24, 2022

National Storage Mechanism | Additional information

RNS Number : 7884D

BankMuscat (S.A.O.G)

24 October 2022

Date: 23 October 2022

Subject: Sale of Bank Muscat's stake in SICO Capital and Acquisition of an additional stake in SICO BSC (c)

We refer to our disclosure dated 18 September 2022, wherein the Bank informed the market that it had signed the necessary agreements to sell its 27.29% stake in SICO Capital, based in the Kingdom of Saudi Arabia (KSA), to SICO BSC (c), based in the Kingdom of Bahrain.

We wish to notify the market that all the necessary regulatory approvals for the transaction are now received and the transfer of the 27.29% shares in SICO Capital has been completed on 23 October 2022. The Bank received an amount of around OMR 1.95 million as sale consideration.

Bank Muscat has also acquired a further 2.76% shareholding in SICO BSC (c) for OMR 1.95 million and for which the necessary regulatory approvals have been obtained.

Subsequent to these transactions, Bank Muscat has now fully exited its shareholding interest in SICO Capital and increased its stake in SICO BSC (c) to 13.14%, which is designated as an associate in the Bank's financial statements.

Waleed K. Al Hashar

Chief Executive Officer

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQMJBBTMTJTBBT