Cancellation of the (EGM) and (AGM)

Date: 19^th March 2020

Dear Shareholders,

Cancellation of the Extraordinary General Meeting (EGM) and the Annual Ordinary General Meeting (AGM) of the Shareholders of the Bank set for Tuesday, 24^th March, 2020 and Dividends Payout.

We refer to our disclosure dated 8^th March 2020 regarding invitation to the Extraordinary General Meeting (EGM) and the Annual Ordinary General Meeting (AGM) of the shareholders of the Bank. Pursuant to the instructions issued by the Supreme Committee that considers the mechanism for dealing with developments resulting from the spread of Coronavirus (COVID-19) to suspend all rallies, events  including conferences in the Sultanate and  circular no. (3/2020)  dated 18^th March 2020 issued by the Capital Market Authority (CMA)  in this regard, it has been decided to cancel the EGM and AGM of the shareholders' of the Bank scheduled for Tuesday, 24^th March, 2020 until further notice.

Whilst on the subject, CMA vide its circular no. (4/2020) dated 18^th March 2020 has approved the distribution of dividends for the listed companies, hence Bank Muscat would like to inform the market that it will distribute dividends to its shareholders (record date being 24.3.2020) as recommended in the agenda and as approved by the regulators. The same will be placed before the shareholders, for ratification, once the meeting is convened.  The dividends will be distributed to the shareholders as per the Muscat Clearing and Depository Company records as on 24^th March 2020 in the normal process.

Ayman Ambusaidi

Secretary to the Board of Directors