Introduction

United International Transportation Company (Budget Saudi) is pleased to announce to its shareholders the results of the Ordinary General Assembly Meeting (the First Meeting), after completing the legal quorum for the validity of the meeting.

City and Location of the General Assembly's Meeting

By means of modern technology from the Company's Headquarters in Jeddah.

Date of the General Assembly's Meeting

2021-04-29 Corresponding to 1442-09-17

Time of the General Assembly's Meeting

21:30

Percentage of Attending Shareholders

44%

Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees

The Board Members who attended the meeting are:

1. Bassim Abdullah Alim (Board Chairman)

2. Khaled Abdullah Aldabal Board (Vice-Chairman)

3. Abdulaziz Abdulrahman Nasser Alohali

And the following Board Members were absent:

1. Wafaa Hashim Zawawi

2. Khaled Mohammed Zahid

3. Kholoud Abdulrahman Khaled Aldabal

4. Yousef Abdullah Abdulaziz Alrajhi

5. Alaa Al-Din Riyad Sami

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf

1. Khaled Abdullah Aldabal Board (Audit Committee Member – Remuneration and Nominations Committee Chairman)

2. Bassim Abdullah Alim (Investment Committee Chairman)

Voting Results on the Items of the General Assembly's Meeting Agenda's

1- Approval of the company's auditor's report for the fiscal year ending on 31/12/2020

2- Approval of the company's financial statements for the fiscal year ending on 31/12/2020

3- Approval of the Board of Directors' report for the fiscal year ending on 31/12/2020

4- Voting on the appointment of the company's external auditor from among the candidates, based on the recommendation of the audit committee, to examine, review and audit the financial statements for the first, second, third, fourth and annual quarters of the fiscal year 2022, the fiscal year 2023 and the fiscal year 2024, and their remuneration are determined to be as following:

1) SAR 535 Thousand for the fiscal year 2022

2) SAR 545 Thousand for the fiscal year 2023

3) SAR 565 Thousand For the fiscal year 2024

5- Approval of paying an amount of (SAR 3,160,000) as remuneration to the Board members for the fiscal year ending on 31/12/2020.

6- Approval of the Board’s resolution to appoint Eng. Khaled bin Abdullah Al-Dabal (Independent) as an Audit Committee member, starting from 12/7/2020. until the end of the current committee’s term on 20/6/2021, to succeed the former committee member Mr. Mufaddal bin Abbas Ali (from outside the Board), effective from the date of the resolution issued on 12/7/2020. This appointment is in accordance with the Audit Committee Regulations. (CV attached)

7- Approval of election of the Board members from among the candidates for the next term, commencing from 21/6/2021 for a term of three years, ending on 20/6/2024, and they are:-

4) Abdullah Jarallah Ibrahim Alsaawi

5) Mohammed Abdulaziz Fahad Alghannam

6) Abdulrahman Hassan Yaseen Bakheet

7) Miqad Abdullah Abdulmohsen Alkhamis

8) Yousef Abdullah Abdulaziz Alrajhi

9) Khaled Abdullah Khaled Aldabal

10) Ahmed Abdullatif Ahmed Albarrak

11) Bassim Abdullah Abdulrahman Alim

8- Approval of the formation of the Audit Committee, and the definition of its duties, work regulations and remuneration of its members for the new term, starting from 20/6/2021 until the end of the term on 20/6/2024 The following are the names of the candidates:

1) Khaled bin Abdullah Al-Dabal

2) Khaled bin Ahmed Refaat

3) Samer bin Saud Samman

9- Approval of delegating the Board of Directors to distribute interim dividends on a biannual / quarterly basis for the fiscal year 2021.

10- Approval of the Board of Directors' recommendation to distribute dividends for the second half of 2020 at the rate of 1.25 riyals per share, representing 12.5% of the capital with a total amount of (SAR 88,958,335), Provided that the entitlement to dividends is for shareholders holding the shares by the end of the trading day of the assembly date, and who are registered in the Company's shareholders registry held with the Securities Depository Center Company (Edaa) at the end of the second trading day following the entitlement date. the distribution date to be announced later. (Attached)

11- Approval of the business and contracts that will be concluded between the company and Zahid Tractors Company Ltd., one of Zahid Holding Group companies, which the Board of Directors, Eng. Wafaa Hashem Zawawi - Non-Executive Member - Mr. Alaa El Din Riad Sami - non-executive member – have indirect interest in it and licensing for the upcoming year. Note that the transactions for the year 2020 amounted to (SAR 64,000), and there are no preferential terms in this contract. (Attached)

12- Approval of the business and contracts that will be concluded between the company and the office of Dr. Bassim bin Abdullah Alim & Co for legal advice and advocacy, in which the Chairman of the Board of Directors Dr. Bassim bin Abdullah Alim - a non-executive member - has a direct interest in it, and it is a contract to provide advisory and legal services to the company for the upcoming year. The value of the contract is (SAR 1,200,000) for 2021 and there are no preferential conditions in this contract. (Attached)

13- Approval of the business that have been concluded between the company and the office of Dr. Bassim bin Abdullah Alim & Co for legal advice and advocacy in which the Chairman of the Board of Directors Dr. Bassim bin Abdullah Alim - a non-executive member - has a direct interest in it, and it consists of other legal business and services not included in the scope of the consulting services contract for the company, noting that the transactions for the year 2020 amounted to (SAR 507,000), and there are no preferential conditions for these works. (Attached)

14- Reject of the participation of a member of the Board of Directors Mr. Alaa Al-Din Riyad Sami, in a work competes the company's business (attached)

15- Approval of discharging the members of the Board of Directors from liability for the fiscal year ending 12/31/2020