Ooredoo Approves Record 90-Fils Per Share Dividend, the Highest in the Telecom Sector

Kuwait, March 26, 2025 – Ooredoo Kuwait (National Mobile Telecommunications Company – Ooredoo) held its Ordinary and Extraordinary General Assembly meeting on Wednesday, March 26, 2025, at 11:00 AM at its headquarters, with an attendance rate of 93.136% of shareholders. The meeting resulted in the approval of all agenda items, including the following key resolutions:

Dividend Distribution and Board Appointments

The General Assembly approved a cash dividend distribution of 90% of the nominal share value (equivalent to 90 fils per share), after deducting treasury shares. Shareholders registered in the company’s records as of the record date on April 14, 2025, will be entitled to these dividends.

Additionally, the General Assembly approved the appointment of Khaled Al-Shatti from PricewaterhouseCoopers (PwC) Al-Shatti & Partners as the external auditor for the financial year 2025, with the Board of Directors authorized to determine his fees.

Election of Board Members

The following candidates were elected to the Board of Directors:

Independent Board Members:

• OH Investment – Independent Board Member
• Al-Wakrah East – Independent Board Member
• Al-Wukair East – Independent Board Member

Independent Reserve Members:

• Al-Tamyiz for Electronic Services

Non-Independent Board Members:

• Ooredoo Global Investments – Board Member
• Barzan Holding (LLC) – Board Member
• Al-Dafna Holding (LLC) – Board Member
• Barzan East – Board Member

Non-Independent Reserve Members:

• Al-Khor Holding

Strong Financial Performance and Growth

Ooredoo Kuwait announced robust financial results for 2024, achieving:

• 5% growth in customer base, reaching 26.6 million subscribers
• 9% increase in annual revenues, reaching KWD 711 million, compared to KWD 653 million in 2023

Chairman’s Statement

In his speech at the meeting, Sheikh Nasser bin Hamad bin Nasser Al Thani, Chairman of the Board, stated:

'Over the past year, Ooredoo Group remained committed to achieving its strategic goals of building a sustainable digital telecommunications company. Our focus has been on innovation in digital services, enhancing operational efficiency, and leveraging our expertise to serve society and maximize shareholder value.'

He added: 'We are proud of Ooredoo Kuwait’s success in 2024, as we continued to achieve strong growth across our operations in Kuwait, Tunisia, Algeria, and the Maldives. Our investments in technology and digital infrastructure have enabled us to offer pioneering services that meet our customers’ needs and enrich their digital experiences.'

Sheikh Nasser reaffirmed the company’s commitment to enhancing operational efficiency and achieving sustainable growth, with a strong focus on customer experience and innovation.

CEO’s Statement

Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait, commented:

'Our success reflects our continuous efforts to develop and upgrade our services in line with the latest technological advancements. We are committed to delivering an exceptional customer experience that exceeds expectations, which has strengthened customer loyalty and trust in our brand.'

He further noted: 'The telecommunications market is becoming increasingly competitive, which is why we continue to invest in innovation and technology. Our strategy focuses on creating long-term value for our shareholders while collaborating with regulatory bodies to serve the best interests of the company, customers, and investors alike.'

Customer Experience Innovation

Ooredoo Kuwait has placed customer experience at the heart of its strategy. In 2024, the company introduced AI-powered solutions, expanded digital services, and enhanced customer engagement channels, leading to record levels of customer satisfaction and loyalty.

Sustainability and Corporate Responsibility

Sustainability remains a core pillar of Ooredoo Kuwait’s strategy. In 2024, the company strengthened its commitment to Environmental, Social, and Governance (ESG) principles by:

• Reducing carbon footprint
• Enhancing energy efficiency
• Promoting digital inclusion

These initiatives underscore Ooredoo Kuwait’s dedication to responsible and sustainable growth, reinforcing its position as a leading provider of comprehensive digital solutions.

A Promising Future Vision

As part of its expansion strategy, Ooredoo Kuwait is executing new projects that will accelerate digital transformation in Kuwait, aligning with the New Kuwait Vision 2035.

Sheikh Nasser bin Hamad Al Thani concluded:
'We look forward to a bright future, where we continue to create sustainable value for our shareholders, invest in cutting-edge networks, and drive innovation. Our goal is to be Kuwait’s most trusted digital partner, contributing to the country’s economic growth, digital evolution, and technological advancement.'