Minutes of the Ordinary General Assembly Meeting (First Meeting)
MORSE Holding Company
Held on Saturday, 14/02/2026 G, corresponding to 26/08/1447 H, at 11:00 AM Kingdom of Saudi Arabia time.
Based on the invitation issued by the Chairman of the Board of Directors to the shareholders of the company to attend the first Ordinary General Assembly meeting to discuss the items on the agenda, the Ordinary General Assembly meeting was convened via modern technology means on Saturday, 26/08/1447 H (corresponding to 14/02/2026 G) at 11:00 AM, chaired by the Chairman of the Board of Directors, Fahad Farooq Hakim.
The Chairman announced the attainment of the legal quorum required for the validity of the assembly's meeting, as shareholders representing 500,000 shares (100% of the total capital of 500,000 shares) were present. Thus, the meeting is valid in accordance with Article (92) of the Companies Law. Ms. Dareen Nasser Al-Harbi was appointed as Secretary of the Assembly. The Chairman then requested the Secretary to read the agenda items. Subsequently, the floor was opened for discussion, and the Chairman requested the shareholders to vote on the agenda items. The voting results were as follows:
| # | Agenda Items | Number of Shares | Percentage | Decisions: Approved | Decisions: Disapproved |
| 1 | Entry of Morse Holding Company as a partner in "Iqrar Platform for Information Technology", owned by a related party, Dr. Fahad Farooq Hakim, by converting the sole proprietorship into a limited liability company against an investment amount of SAR 400,000 in exchange for a 60% stake. |
57,500 |
100% |
✔ |
|
| 2 | Morse Holding Company programming an internal audit automation application with "Ideal Circle Company" for an amount of SAR 80,000 (inclusive of VAT). Upon completion of the platform, establishing a limited liability company with a related party, Dr. Fahad Farooq Hakim, and other parties, in exchange for the previously mentioned programmed platform as well as a paid amount of SAR 200,000, to acquire a 51% share in the company. |
57,500 |
100% |
✔ |
|
| 3 | Disclosure regarding the debt write-off of "Majma Al-Ibtisama For Medical Elegance" in the amount of SAR 65,217.39, following an event that led to the debtor's inability to benefit from the provided service. |
500,000 |
100% |
✔ |
The meeting concluded at exactly 11:30 AM, whereupon the Chairman of the Assembly extended his gratitude to all attendees for their participation and presence at this meeting.