Saudi Arabian Oil Company Extraordinary General Assembly Meeting Results (5815L)

TIDM64EZ

RNS Number : 5815L

Saudi Arabian Oil Company

16 May 2022

Saudi Aramco Extraordinary General Assembly Meeting Results.

Saudi Arabian Oil Company (Saudi Aramco) Announces the Results of the 2022 Extraordinary General Assembly Meeting (First Meeting)

Type of the General Extraordinary
Assembly's Meeting
*
Number of invitations First Meeting
to
the General Assembly
Meeting *
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Announcement Title Saudi Arabian Oil Company (Saudi Aramco) Announces
* the Results of the Extraordinary General Assembly
Meeting, which included approving the increase of
the Company's capital (First Meeting).
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Introduction Saudi Arabian Oil Company (Saudi Aramco) announces
the results of its Extraordinary General Assembly
Meeting (First Meeting).
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City and Location of Saudi Aramco Headquarters in Dhahran, virtual attendance.
the
General Assembly's
Meeting *
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Date of the General 11/10/1443H (based on Umm Ul Qura calendar) corresponding
Assembly's Meeting to 12/05/2022G
*
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Time of the General
Assembly's Meeting
* 18:30
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Percentage of Attending
Shareholders * 98.64%
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Names of the Board The following board members attended the Extraordinary
of General Assembly Meeting:
Directors' Members
Present at the General HE Yasir O. Al-Rumayyan (Chairman)
Assembly's Meeting and
Names of the Absentees HE Dr. Ibrahim A. Al-Assaf (Vice Chairman)
*
HE Mohammed A. Al-Jadaan

HE Mohammad M. Al-Tuwaijri

Mr. Andrew N. Liveris

Ms. Lynn L. Elsenhans

Mr. Peter L. Cella

Mr. Mark A. Weinberger

Mr. Stuart T. Gulliver

Mr. Khalid H. Al-Dabbagh

Mr. Amin H. Nasser
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Names of the Chairmen Mr. Andrew N. Liveris (Chair of the Nomination Committee)
of the Committees Present
at the General Assembly's Ms. Lynn L. Elsenhans (Chair of the Audit Committee)
Meeting or Members of
such Committees Attending Mr. Peter L. Cella (Chair of the Risk and HSE Committee)
on Their Behalf *
Mr. Mark A. Weinberger (Chair of the Compensation
Committee)
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Voting Results on the
Items of the General 1. Approval of the Board of Directors Report for
Assembly's Meeting the financial year ended on December 31, 2021.
Agenda's *
2. Approval of the Board of Director's recommendation
to increase the Company's capital by way of granting
bonus shares through the capitalization of 15,000,000,000
Saudi Riyals from the Company's retained earnings
in the following manner:

* The increase in capital will be made by capitalizing
an amount of SAR 15,000,000,000 from the Company's
retained earnings. The shareholders will be given one
(1) share for every ten (10) shares owned in Saudi
Aramco.

* The share capital of the Company before the increase
is sixty billion Saudi Riyals (SAR 60,000,000,000),
and after the approval, it will be seventy-five
billion Saudi Riyals (SAR 75,000,000,000). The
percentage increase of the share capital is: 25%.

* The number of shares before the increase is two
hundred billion (200,000,000,000), and after the
increase it will become two hundred and twenty
billion (220,000,000,000) shares.

* By increasing its capital, the Company aims to
maximize total returns for its shareholders through
the distribution of sustainable and progressive
dividends, in line with future prospects, underlying
growth in free cash flow, and long-term value
creation through investments in available
opportunities.

* In case there are any fractional shares as a result
of the capital increase, the fraction shares will be
grouped into a single portfolio on behalf of all of
the Company's shareholders who would otherwise have
been entitled to receive such fractional shares, and
sold at the market price and subsequently distribute
the net cash proceeds to their respective fractional
entitlements within 30 days from the date of
determining the shares due to each shareholder.

* The shareholders who own shares by the end of the
trading day of the Company's extraordinary general
assembly and are registered in the Company's
shareholders' register with the Securities Depository
Center Company (Edaa) by the end of the second
trading day following the date of the extraordinary
general assembly meeting, will be eligible for the
bonus shares.

* Amending Article (6) of the Saudi Aramco's Bylaws
relating to the capital.
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