On July 2, 2026, Watani Iron and Steel Company announced the formation of its Audit Committee, appointing three members effective the same date: Faisal Muhammad Hammad Al-Ubaid, a finance and investment professional with over 15 years of experience and current Executive Vice President at SAPTCO; Mashari Abdulkarim Al-Rajhi, Senior Relations Officer at Al Rajhi Bank and Vice Chairman at Abdul Karim Al Rajhi Steel Company; and Omar Mohammed Abdul Rahman Al-Tarif, an accounting professional with over 20 years of experience in executive management and financial consulting. The appointments follow a Board of Directors decision dated September 29, 2024, based on the recommendation of the Remuneration and Nominations Committee, and include the replacement of resigned member and former Audit Committee Chairman Mr. Yasser Zoman Saad Al-Zoman with Mr. Omar Al-Tarif as a non-executive Board Member.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.