Union Properties PJSC — AGM Information 2020

May 17, 2020

Invitation to the Annual General Assembly

Union Properties (PJSC)

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• Authorize the Chairman of the General Assembly Meeting to appoint the meeting rapporteur and the votes collector

• Ratify the appointments of the Board of Directors, as follows:

• Mr. Jorg Klar

• Mr. Dahi Al Mansouri

• Mr. Mohamed Al Otaiba

• Mr. Abdulla Al Rustumani

• To hear and ratify the report of the Board of Directors on the activity of the company and its financial position for the fiscal year ending 31/12/2019.

• To hear and ratify the auditor's report for the financial year ending 31/12/2019.

• To discuss and ratify the company's budget and profit and loss account for the fiscal year ending 12/31/2019.

• To absolve the members of the Board of Directors from the liability for the fiscal year ending on 31/12/2019.

• To absolve the auditors from the liability for the financial year ended 31/12/2019.

• To appoint auditors and determining their fees.

• Pursuant to the provisions of Article (152) of the Commercial Companies Law, the members of the Board of Directors are permitted to participate in any business that would compete with the company and to trade for their own account or for the account of others in one of the branches of activity that the company is engaged in.

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• Approving the use of the statutory reserve not to exceed the amount of AED 332,880,000 (Three hundred and thirty-two million eight hundred eighty thousand dirhams) in order to reduce the accumulated losses in accordance with the company’s budget ending on 31/12/2019 and authorizing the Board of Directors to take all the necessary legal measures and steps in this regard.

• Renew the approval issued by the General Assembly on 18/4/2019 for the company to purchase its shares at a rate that does not exceed 10% of the paid-up capital with the intention of reselling it and authorizing the Board of Directors to take all the necessary legal measures and steps in this regard.

• Approving the amendments on the articles of the company’s articles of association, (1) Definitions: Amending the definition of related parties - deleting the definition of control; (12), (1/14), (1/19),

• (A / 29), (1/40) and (48) and authorize the Board of Directors to take all legal procedures and necessary steps in this regard. And this is as per the attached. (These amendments are subject to the approval of the competent authorities)

• Election of the members of the Board of Directors.

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