Result of Meeting

Alexandria Mineral Oils company

Results of board of directors meeting held on Wednesday June 10th, 2020 which includes the following decision:

- The Board approved the report of the Board of Directors and the periodic (audited) financial statements of the company on March, 31st 2020 and its complementary clarifications after been reviewed by the Company's auditors and auditors of the central auditing organization

- The Board of Directors approved the report of the Audit Committee for the same period.

- The composition of the Audit Committee has been modified

- The Board also made some decisions that would conduct the company's normal operational work.

- The company also acknowledges that this summary contains all the essential information that must be disclosed in accordance with the provisions of the Money Market Act, its implementing regulations, and the rules and decisions issued I accordance to them.

 Audit Committee Meeting Minutes

For the period ended March, 31st 2020

1. The Audit committee had reviewed the financial statements of the company on September, 31st 2020 and ensure that existing laws are met according to the company's law No. 159 for the year 1981 and its executive regulations and the Capital Market Law No. 95 for the year 1992 and its implementing regulations and disclosure requirements of the Egyptian Stock Exchange which shows following:

- Balance sheet on 31/3/2020 with total investment of 2.193 Billion EGP and total equity of 2.141 Billion EGP.

- Consolidated balance sheet on 31/3/2020 with total investment of 2.259 Billion EGP and total equity of 2.207 Billion EGP.

- Income statement on 31/3/2020 is about 217358166 Million EGP.

- Consolidated income statement on 31/3/2020 is about 152483405 Million EGP.

- Standalone and consolidated statement of owner's equity and cash flow statement.

- Ensure that the company adheres to the necessary procedures for the rules of registration and delisting in the Egyptian Stock Exchange.

2. Audting the procedures of preparing standalone financial statement for the period July-March 2020 which shows the following:

- Total cost of sales on 31/3/2020 of 7.678 Billion EGP and 11.143 Billion EGP compared to the same period of the financial year 2018/2019.

- Total net sales on 31/3/2020 of 7.941 Billion EGP and 10.655 Billion EGP compared to the same period of the financial year 2018/2019.

- Total profit (loss) on 31/3/2020 of 263.604 million EGP and 530.857 Million EGP compared with the same period of the financial year 2018/2019.

- Audting the followed procedures to prepare financial statement on 31/3/2020 which shows a net profit/loss of 217.358 Million EGP.

3. Audting the procedures of preparing consolidated financial statement for the period July-March 2020 which shows the following:

- Total net sales on 31/3/2020 of 7,800 Billion EGP and 14858 Billion EGP compared to 30/6/2019.

- Total cost of sales on 31/3/2020 of 7,941 Billion EGP and 13,969 Billion EGP compared to 30/6/2019 .

- Total profit (loss) on 31/3/2020 of 140,893 million EGP and 943,794 Million EGP compared to 30/6/2019.

- Audting the followed procedures to prepare financial statement on 31/3/2020 which shows a net profit/loss of 152,483 Million EGP.

-

4. As it has been confirmed that the standalone and consolidated financial statements of 31/3/2020 are made in accordance with the Egyptian Accounting Standards and it was confirmed that an independent consultant had prepare a report on the transactions with the relevant parties, and the committee also reviewed the report of vacations and over time.