Orascom Inv Regulatory News (OIH)

Orascom Telecom Media and Technology Holding S.A.E.

Established pursuant to the provisions of Law 95/1992

Head Office: twenty Sixth floor, Nile City Towers, South Tower,

2005 A Croniche El Nile, Ramlet Beaulac, 11221, Cairo, Egypt

Authorized Capital: EGP 22 Billion

Issued Capital:

EGP: 2,203,190,060.40

(Fully paid)

Number of Issued Shares:

5,245,690,620

Summary of the Ordinary General Assembly Meeting

Held on Sunday, May 15, 2016 at 2:30pm

At Fairmont Hotel - Magenta Ballroom - located at Corniche El Nil - Cairo.

On Sunday, May 15, 2016, at 2:30 pm the General Assembly Meeting of the shareholders of the company convened under the chairmanship of Eng. Naguib Onsi Naguib Sawiris - Executive Chairman and Managing Director, the meeting was attended by the following Board members:

· Eng. Naguib Onsi Naguib Sawiris - Executive Chairman and Managing Director in his own capacity and on behalf of Mr. Ayman Mohamed El Tayeb Soliman - Non-Executive Expert Board Member;

· H.E Ambassador Mohamed Ibrahim Shaker - Non Executive Board Member;

· Mr. Youssef Fayez Shoukry Mouawad, Executive Board Member for Financial and Administrative Affairs in his own capacity and on behalf of Eng. Khaled Galal Girgis Bishara - Non executive Board Member;

· Eng. Akil Hamed Bashir - Non-Executive Deputy Chairman.

The Assembly unanimously agreed to appoint the following:

- Mr. Oussama Daniel Nassif as Secretary of the Meeting

- Mr. Ibrahim Aly Ibrahim and Ms. Mennat Allah Medhat Mohamed to register the votes.

The shareholders that attended the meeting represent a total numbers of shares represented in the meeting is (3,100,990,363) shares representing (59.115) % of the total share capital of the company which is a total amount of (5,245,690,620) shares, and thus satisfied the legal quorum for the meeting.

The ordinary General Assembly resolved the following:

1) The General Assembly unanimously resolved ratifying the Board of Directors' report on the company's activity in the fiscal year ending on 31/12/2015.

2) The General Assembly resolved by majority, ratifying the report of the Auditor regarding the financials for the fiscal year ending on 31/12/2015.

3) The General Assembly resolved by majority, approving the standalone and consolidated financial statements, and ratifying the general budget and income statement for the for the fiscal year ending on 31/12/2015.

4) The General Assembly resolved by majority, discharging the Chairman and all members of the Board of Directors for their services during the fiscal year ending on 31/12/2015.

5) The General Assembly resolved by majority, ratifying the changes to the company's Board of Directors and the appointment of Mr. Ashraf Abd El Tawab Salman - Non-Executive Expert Board Member, for its structure to be as follows:

• Eng. Naguib Onsi Naguib Sawiris - Executive Chairman and Managing Director;

• Eng. Akil Bashir - Non-Executive Deputy Chairman;

• Mr. Youssef Fayez Shoukry Mouawad, Executive Board Member for Financial and Administrative Affairs

• Eng. Khaled Galal Girgis Bishara - Non executive Board Member;

• Mr. Ayman Mohamed El Tayeb Soliman - Non-Executive Expert Board;

• Mr. Iskandar Shalaby Naguib Rizk Shalaby - Non-Executive Board Member;

• H.E. Ambassador Mohamed Ibrahim Mahmoud Shaker Mohamed - Non-executive Board Member;

• Dr. Sameh Youssef El Torgoman - Non-Executive Expert Board Member;

• Mr. Ashraf Abd El Tawab Salman - Non-Executive Expert Board Member.

All the signature powers previously given shall remain in effect without change.

6) The General Assembly resolved by majority, determining the remuneration and allowances of the Members of Board of Directors and the Members of the Audit Committee for the fiscal year ending on 31/12/2016.

7) The General Assembly unanimously resolved appointing Mr. Kamel Saleh - accountant - from Saleh, Barsoum, Abd El Aziz and partners audit firm (Deloitte) as the company's Auditor for the fiscal year ending on 30/12/2016 and determining his annual fees for an amount of EGP 200,000 (only two hundred thousand Egyptian Pounds).

8) The General Assembly resolved by majority, ratifying the Board of Directors' resolutions during the fiscal year ending on 31/12/2015.

9) The General Assembly resolved by majority, concluding the related party agreements and delegating the Board of Directors to enter into loan and mortgage agreements as well as the issuance of lenders guarantees to the company and its subsidiaries where the company is a controlling shareholder and entering into related party agreements with such subsidiaries.

10) The General Assembly unanimously resolved ratifying the donations made during the fiscal year ending on 31/12/2015 and authorizing the Board of Directors with the donations within the limit of one million Egyptian Pounds during the fiscal year 2016.

The meeting ended at 3:30 pm.

Head of Investor Relations

Marwan Hussein