Red Sea International (RSI), announced the resignation of Mr. Khalid Faqih, Chief Executive Officer, effective November 19, 2023, due to personal reasons. Following a meeting of the Nomination & Remuneration Committee (NRC), the committee recommended to the Board of Directors to accept Mr. Faqih?s resignation, a recommendation that has been duly acknowledged and accepted and appointment of Mr. Marwan Sayegh as the new Chief Executive Officer, effective November 19, 2023. Mr. Sayegh brings extensive experience in Facility Management, with a proven track record of driving operational excellence and strategic growth.

The RSI?s Board has full confidence in Mr. Sayegh's ability to lead the company into its next phase of development. Mr. Sayegh's industry knowledge and strategic vision align with RSI's growth objectives. The company is confident that under his leadership, RSI will deliver value to shareholders and stakeholders alike.

Element ListExplanationName of the Resigned CEO Mr. Khalid Fagih Resignation . Acceptance Date is November 19, 2023. Resignation Effective Date November 19, 2023.

Reasons for Resignation Personal Reasons.