KSA Market Agreement

Authorization Letter

Date: 19/06/2024

Address: Saudi Fransi Capital (SFC) Kingdom Of Saudi Arabia P.O. Box 23454 Riyadh 11426

Subject: Authorization

We, the undersigned, have been informed of the requirement of the Capital Market Authority in the Kingdom of Saudi Arabia to have the investment portfolios of the clients trading in Saudi shares opened in their own names. Accordingly, we hereby authorize KFH Capital to perform on our behalf the following actions directly or through its designated broker/agent (which, for the present, is SFC) or custodian:

  1. Create, open and close portfolios in our name with KFH Capital designated broker or custodian in the Kingdom of Saudi Arabia (KSA) and use our investor number or obtain an investor number in our name in the Saudi Stock Exchange (Tadawul) as the case may be and sign on our behalf any documents required in this regard.
  2. Fully operate our portfolios (including but not limited to giving orders for buying, selling and transferring securities as well as amending and canceling orders).
  3. Perform all actions pertaining to securities of all types.
  4. Make payments for the settlement of purchase orders and receive sale proceeds.
  5. Receive cash dividends and transfer the same to our portfolio/ trading account with KFH Capital.
  6. Make payments for subscribing in rights issues.
  7. Perform and instruct others on our behalf on all such acts as it deems necessary or desirable to best execute any transaction.
  8. Handle and sign on our behalf any documents related to any type of corporate actions.
  9. Provide KFH Capital designated broker or custodian in the Kingdom of Saudi Arabia with all the required KYC documents that may be in its possession which are required to open and operate the portfolios held in our own name.
  10. Provide any document or information pertaining to us required by the Saudi Stock Exchange or any regulatory authority in the Kingdom of Saudi Arabia.
  11. Open investment accounts in our name (If required).
  12. Open investment accounts in our name (If required).

KFH Capital shall have the right to delegate any or all of the above-mentioned powers to any other third party including, but not limited to, its designated brokers and custodians in the Kingdom of Saudi Arabia.

I / We Acknowledge and understand that our cash is kept under the Client money account of "KFH Capital" held with Saudi Fransi Capital and I / we accept this process and action/risk related to this setup.

We further undertake to refrain from issuing any instructions of whatsoever nature to KFH Capital’s brokers in KSA with respect to the securities contained in our portfolio with KFH Capital.

We shall indemnify SFC and KFH Capital against any direct losses, damages or legal or financial liabilities incurred by SFC or KFH Capital as a result of their reliance on this letter provided that such losses, damages or liabilities are not attributable to SFC or KFH Capital gross negligence, willful misconduct or fraud.

This authorization shall remain in full force and effect until revoked by a written notice addressed to and actually received by KFH Capital.

Yours Sincerely,

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