BQAD.L Regulatory News (BQAD)

Bank Audi S.A.L. - Audi Saradar Group

Board Election

April 9, 2013

The Ordinary General Assembly of Shareholders of Bank Audi S.A.L. - Audi Saradar Group convened on April 8, 2013 and resolved, in consideration of the fact that the mandate of the Board of Directors has reached its term, to re-elect the current Directors for a new 3 years mandate (that will end upon holding the Annual General Assembly that will examine the accounts of the year 2015).

The Board of Directors is composed as follows:

H.E. Mr. Raymond W. Audi;

Dr. Marwan M. Ghandour;

Mr. Samir N. Hanna;

Sheikha Suad H. Al Homaizi;

Sheikha Mariam N. Al Sabbah;

Mr. Marc J. Audi;

Dr. Freddie C. Baz;

Dr. Imad I. Itani;

Mr. Mario J. Saradar;

Mr. Abdullah I. Al Hobayb;

Dr. Khalil M. Bitar.

The newly elected Board convened following the General Assembly and resolved, amongst other things, to:

(i) re-elect:

- H.E. Mr. Raymond W. Audi as Chairman of the Board - General Manager;

- Dr. Marwan M. Ghandour as Vice-Chairman;

(ii) confirm the re-appointment of the General Managers including the re-appointment of Mr. Samir N. Hanna (Group CEO - General Manager).

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