Madinet Nasr S Regulatory News (MNHD)

Madinet Nasr for Housing and Development (MNHD)

An Egyptian Joint Stock Company

Summary of Resolutions of Board of Directors (BOD) Meeting held on 10 March 2020

MNHD BOD met on Tuesday March 10, 2020 at 1:00 p.m. at the Company's Sales Center on the site of Taj City project; Extension of Thawra Street- Opposite to the Entry of Cairo International Airport- Cairo, Egypt

The following is a summary of the BOD resolutions:

1. Ratification of the minutes of the prior BOD's meeting

2. Approving buying of treasury shares up to 2% (28,800,000 shares) of issued capital within three-month in accordance with the new rules of the Financial Regulatory Authority (FRA)

3. Authorizing conducting a due diligence of the subsidiary company (Nasr Company for Utilities and Erections "NCUE") for an investor who presented an unbinding offer to buy the entire shares of the subsidiary company.

4. Discussion of other regular operational and financial subjects of the company

Investors Relations Officer