Outsourcing

1. Outsourcing

When outsourcing to other parties, the Group is careful to ensure that the Group’s Board of Directors and Executive Management remain responsible for the functions or activities that are outsourced or supported by external parties. When outsourcing to other parties, the Group is careful to ensure that this does not lead to any material risks to the Company or negatively impact on the Company’s ability to manage its risks and fulfill its legal and regulatory obligations.

2. Reasons and justifications for outsourcing.

Outsourcing can be a successful strategy if implemented thoughtfully and in balance with the company’s goals. Outsourcing by companies is a common strategy for many reasons and justifications, including, but not limited to, the following:

• Reducing costs.
• Focus on core activities.
• Operational flexibility.
• Mitigating risks.
• Improving time management.

3. A copy of the contracts signed when outsourcing.

The Group uses some external parties to manage a specific project or support the Group’s departments in some operational matters, including, but not limited to:

• PricewaterhouseCoopers Al Shatti & Co. ‑ Auditor.
• Maysan Law Firm and Legal Consultants ‑ Legal Advisor.
• Mishari Al Osaimi Law Firm ‑ Legal Advisor.