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Disclosure of the Board meeting 25 Apr 2017

Board of Directors resolutions’ disclosure

Phoenix Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 25 April 2017:

1. Appointment of Mr. Khalid Jolo as the Chairman and Mr. Neil Cave as the Deputy Chairman of the Company.
    
2. Appointment of Ms. Sonal Parakh as the Secretary of the Company.
    
3. Appointment of Mr. Neil Cave, Mr. Tomoki Nishino and Mr. Masamitsu Suda as the members of the Audit Committee.
    
4. Appointment of Mr. Carlos Alcazar, Mr. Khalid Mohd. Jolo and Mr. Masamitsu Suda as the members of the Nomination and Remuneration Committee.
    
5. Confirmation of the status of the independence of each board member of the Board as per the new Corporate Code of Governance which became effective on 22 July 2016.
    
6. Approval of the unaudited financial statements for the 3-month period ended 31 March 2017 together with the Board of Directors’ Report.
    
7. Approval of the Procedure for the performance appraisal for the members of the Board.