Qatar Insurance Company Announces the Completion of the Shareholding Restructuring of the Founding Shareholders in Daman Islamic Insurance Company – Beema Q.P.S.C. ("beema")

Qatar Insurance announces that the restructuring of the shareholding of the founding shareholders in Daman Islamic Insurance Company – Beema has been completed and all related procedures have been fully implemented.

The restructuring involved Qatar Insurance Company Q.P.S.C. transferring 13.75% of its shareholding in Beema against a consideration of QAR 118,745,000 to special purpose vehicles financed by one of the Beema's founders, QInvest LLC, in accordance with the regulatory approvals issued by the competent authorities. Qatar Insurance still holds 5% shareholding in Beema post the restructuring.

The Company further confirms that the above restructuring transaction has been fully implemented and completed. Its effect was limited to the restructuring of the ownership interests of the founding shareholders of Beema as described above, without giving rise to any change in Beema's activities, objectives, or operating strategy.