Bader Al-Kharafi: We trust Al-Hilali's capabilities to lead TASC Towers' operations towards new horizons of growth.

- Iyad Mazhar will continue his role as a key member of the Board of Directors to support the company’s strategic growth.

Kuwait - :

Zain Group announced that the Board of Directors of TASC Towers Holding - TASC - has appointed Kamil Al Hilali as CEO of the company to lead the next phase of its operations growth journey, succeeding Iyad Mazhar, the company’s founder and CEO.

Digital Infrastructure Assets ( DIA ) who will continue as a shareholder and member of the Board of Directors to support the strategic growth of the Company .

Zain revealed that Kamil Al Hilali has served as the group's Chief Strategy Officer for seven years, where he was responsible for developing and implementing the " 4 Sight " strategy, which transformed Zain Group from a core telecom company to a digital services provider. More recently, he was responsible for implementing Zain's new " 4 WARD - Advancement with Purpose" strategy, through which Zain seeks to build the largest technology conglomerate in the region's markets.

Bader Nasser Al-Kharafi, Vice Chairman and CEO of Zain Group and Chairman of TASC Towers, said, “Kumayl Al-Hilali has played a pivotal role in implementing Zain’s strategic vision since joining the Group’s executive management in 2018. We are confident in his ability to build on the successes achieved under Iyad Mazhar’s leadership and propel TASC Towers ’ operations towards new horizons of growth, as Al-Hilali will lead the company at a pivotal stage in its journey.”

Al-Kharafi added, "With the completion of the tower agreements with Ooredoo Group, the tower company will own more than 30,000 communication towers, with an estimated enterprise value of $2.2 billion and annual operating revenues of approximately $500 million. These towers, which represent passive infrastructure, will cover the markets of Qatar, Kuwait, Jordan, Iraq, Algeria, and Tunisia."

He continued, "I extend my sincere thanks to Iyad Mazhar for his leadership in this historic transaction, which resulted in Zain Group, Ooredoo Group, and DIA entering into final agreements to establish the largest independent entity for telecommunications towers in the Middle East and North Africa markets ."

Al-Kharafi explained, "Over the past five years, TASC has proven its position as an independent digital infrastructure company, having acquired and managed the towers of Zain Jordan and Zain Iraq (under a sale and leaseback model), contributing to the creation of tangible and sustainable value ."

Al-Kharafi stated, "As a member of the TASC Board of Directors, I look forward to working closely with the Board of Directors to provide full support in managing the company's assets and completing the tower consolidation process. This step will enhance the region's position on the global telecommunications map, contribute to reducing the carbon footprint, and drive growth and maximize shareholder value."

It's worth noting that Kamil Al Hilali was appointed Chief Strategy Officer for Zain Group in 2018. He brings over 20 years of experience and a proven track record in developing corporate strategies. Thanks to his leadership capabilities across multiple businesses, he was responsible for managing Zain Group's digital transformation operations, corporate development, digital infrastructure, wholesale sales, and business development.

Throughout his career at Zain Group, Al Hilali has contributed to the implementation of numerous mergers and acquisitions, and led business development initiatives including capital restructuring, public offerings, and tower sales and leases. Kamil Al Hilali holds a Bachelor’s degree in Industrial Engineering from the National School of Metal Industries in Rabat, Morocco (2001), an MBA from Suffolk University Boston, Massachusetts (2005), a Master’s degree in Finance from London Business School, UK (2008), and a professional training in venture capital from Stamford University in California, USA (2017). He is a member of the Board of Directors of Zain Saudi Arabia and a member of the Board of Directors of the Swiss e-commerce platform ZoodMall .

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