Confidentiality and information privacy policy

   The Information Privacy and Confidentiality Policy lays down principles that must be observed by all dealers within the Company who have access to customer identification information or any inside information or confidential information. All employees must be aware of their responsibilities for protecting confidentiality and maintaining the security of information.

Kuwait Resorts Company K.S.C.P. "hereinafter referred to as the company" the importance of maintaining the confidentiality and privacy of the company's internal information, which includes, but is not limited to, the following:

• Customer data (customer name - customer phone number etc.).

• The company's strategy (strategies - marketing campaigns - acquisitions and mergers, etc.).

• Financial and administrative data and reports of the company (annual or monthly financial report etc.).

• The internal decisions and policies of the company (decisions of the General Assembly - the company's policies).

• Data related to customer statistics (the number of the company's customers - the nature of the company's customers).

• Employee data (medical data - salaries and wages - employee file in the company etc.) .

•Intellectual property.

• Formal agreements and contracts.

The purpose of this policy is to maintain the confidentiality and privacy of the company's internal information and not to disclose such information in a manner other than that permitted by law and in the manner specified by the regulatory authorities, as the company is committed to disclosing in a timely manner all material events related to the establishment of the company, its financial position, performance and structure. Ownership, as defined by the policy established for it.

Investor policy

Kuwait Resorts Company K.S.C.P. To provide an effective communication mechanism between it and all current and potential shareholders, investors and stakeholders so that they can obtain basic data about the company and its activities in a timely manner. The Investor Affairs Unit provides them with the opportunity to follow up on the company's activities and evaluate its performance based on recent and accurate information, data and reports.
For this purpose, the company has established a special unit concerned with investor affairs, which acts as a media center that provides an effective means of communication between the company on the one hand, and current and potential shareholders, investors, and stakeholders on the other, with the aim of providing basic information and data that allows the company to improve its level and provide a clear vision of how decisions are made within company.
This policy is an integral part of the Company's corporate governance framework.
This policy has been developed taking into account the corporate governance rules issued by the Capital Markets Authority in addition to other regulatory requirements, and leading international practices in this regard.

Policy of selection and independence of the external auditor

This policy aims to define the mechanism for selecting the external auditor and verifying his independence with the Kuwait Resorts Company, hereinafter referred to as “the Company”, in accordance with the relevant laws and regulations, and includes the following:

• Criteria for nomination and selection of the external auditor.

• Independence and objectivity of the external auditor.

• Rotate/Rotate Controller.

It is the responsibility of all concerned employees to familiarize themselves with and understand the terms of this policy, and to abide by its application at all times. In the event of difficulties or obstacles in implementing the policy, the Chief Executive Officer and the Chairman of the Audit Committee shall be notified directly. This policy has been developed taking into account the corporate governance rules issued by the Capital Markets Authority in addition to other regulatory requirements, and leading international practices in this regard.

Purchasing and contracting policy and procedures

The purpose of these policies and procedures is to define policies, rules and procedures for procurement and contracting in accordance with best practices and in compliance with relevant laws and legislations, as well as achieving the following:

• Ensuring that stakeholders are treated with the same terms and privileges as other entities when entering into procurement and contracting processes, without giving them any preference or discrimination, and limiting conflicts of interest when making procurement decisions in order to achieve the principle of equal opportunity.

• Achieving transparency and clarity during all stages of procurement procedures, and promoting integrity and justice among stakeholders in order to create a high level of confidence in the company.

• Organizing the steps of the procurement procedures carried out by the company to achieve maximum effectiveness in the implementation of these operations, as it works to standardize work methods and achieve perfection and integration in performance, as well as ensuring tight control and performance measurement.

• Ensuring competitive and fair prices and specifications in a manner that achieves the company's objectives in obtaining the best purchase.

Nominations and rewards policy

The nominations and rewards policy includes the basic principles for the nominations of the Kuwait Resorts Company K.S.C.P. (the “Company”) with respect to the members of the Board of Directors and Executive Management in accordance with the instructions of the Capital Markets Authority, the purpose of which is to link the nominations to the long-term performance and risks of the Company. This policy also has basic principles for granting company bonuses with regard to members of the Board of Directors, executive management and employees, in accordance with the instructions of the Capital Markets Authority.
The principles for determining the company's remuneration are based on the following rules:

• Attracting and maintaining human resources with capabilities, talents, skills and knowledge to ensure quality provision.

• Balance between employee rewards and company resources.

• Implementing an incentive system that encourages employees to provide dedicated, high-quality and continuous performance at all times.

• The consistency of the system of rewards and incentives with the achievement of the strategic objectives of the company.

• Ensure that a competitive level is provided when determining rewards and incentives, taking into account the financial soundness of the company.

• Ensure that the members of the Board of Directors and the Executive Management are aware of the basis on which the process of determining rewards and incentives is based.

• Ensure that the structure of rewards and incentives is supported by a governance mechanism that avoids the occurrence of conflicts of interest.

The policy of preparing the company's general plan and the estimated budget

The budget is a quantitative (numerical) prediction of future events. In fact, the stages of budget preparation are called financial forecasting. Preparing the budget in a proper manner with the availability of inventory helps the company in many aspects, such as:

1. Deepening the administrative understanding of the company.

In general, the managers, during their daily work performance, focus on the routine problems in order to accomplish their work, and in the presence of the budget, the managers can also focus on all the activities of the company and estimate the financial position in the future.

2. Anticipate problems before they happen.

Having a budget showing expected results draws management's attention to problems before they occur. For example, if the budget indicates a cash deficit during a period, this draws the management's attention to thinking about how to obtain the necessary financing during this period.

3. Coordination between activities

The preparation of the budget gives the opportunity for management to coordinate between the various activities of the company.

4. Performance appraisal

Since the budget shows the expected costs, expenses and revenues for each department. Thus, it is considered a vital measure by which the work performance of the various departments in the company can be evaluated.
Determining the numbers and amounts of the budget Since the budget is used as a tool to measure the performance of the work of the various departments in the company and the performance of its managers, the managers must actually participate in preparing the budget.
The period (duration) of the budget
The duration of the budget should be sufficient to reflect the policies of senior management and also allow for the determination of estimated figures with appropriate accuracy. Thus, several budgets can be made that differ in the period covered by each budget.

Training policy for board members and executive management

This policy aims to establish mechanisms that allow the members of the Board of Directors and the Executive Management to obtain training programs and courses on an ongoing basis.
This policy forms an integral part of the Company's corporate governance framework. This policy has been developed taking into account the corporate governance rules issued by the Capital Markets Authority in addition to other regulatory requirements, and leading international practices in this regard.

Related party dealings policy

This policy aims to set a framework for dealings with related parties with the company. The preparation of this policy comes in compliance with the governing laws and regulations and the company's adherence to professional practices that are honest, integrity, credibility and ethical values in all its business and dealings with shareholders, employees, customers, suppliers, competitors, regulators and the public, in a way that allows for open and fair competition according to equal competitive conditions.
This policy aims to define the steps that the company must follow to ensure fairness and transparency in all transactions with related parties, in order to guarantee the rights of the company.

Dividend policy

The Dividend Distribution Policy describes the company's policy regarding the distribution of profits in line with the proposal of the Board of Directors of Kuwait Resorts Company K.S.C.P. And the decision of the General Assembly to distribute profits in accordance with the Companies Law and the Capital Markets Authority applicable in the State of Kuwait and other regulations applicable to the company.
The Board of Directors aims to expand the business lines of the company, taking into account the following:

• Maintaining a delicate balance between shareholder expectations and the company's need for growth.

• Any adverse economic conditions.

• The company's financial structure and capital adequacy ratios.

• Company profitability.

This policy forms an integral part of the Company's corporate governance framework. This policy has been developed taking into account the corporate governance rules issued by the Capital Markets Authority in addition to other regulatory requirements, and leading international practices in this regard.