With reference to the abovementioned subject, and the CMA regulations issued on November 9, 2015, Module No. Ten”Disclosure and Transparency” regarding disclosure of material information, and following our previous disclosure dd: 12/11/2020, NIC announces receiving a letter from the liquidation committee of (Gulf Investment Co. – Bahraini closed joint stock company) stating that the liquidation process has been completed.

The only significant effect on the consolidated financial statements of NIC would be that Gulf Investments Co. EC would be removed from the list of Subsidiaries companies disclosed in the financial statements.

There is no financial impact from the current event of completion of liquidation of Gulf Investment Co.