Agility Public Warehousing K S C P : Judicial Decision Disclosure

Agility

Kuwait, July 09, 2024

Mis Boursa Kuwait

Disclosure of Legal Cases/Update

Reference to the above-mentioned subject: and in accordance with Chapter 10 of the Capital Markets Authority's bylaws of Law No. 7 ofthe year 2010 on Disclosure and Transparency Agility would like to announce:

Date

Company Name

Case Number

Case Subject

Date ofthe decision

Court Decision Court issuing the decision

Parties involved

Decision in favor of

First Instance court decision

Appeal court decision

Cessation Court Decision

Material Information/ Update

Financial Impact

Vice Chairman and CEO

P.O. Box 25418, Safot 13115 Kuwait Tel. [phone], Fax [phone] Agility Public Warehousing Company K.S.C.P Commercial Registration No.: 28925

Paid Capital: KO 267,612,858.600

09 July 2024

Aeilitv Public Warehousinl! Company KSCP '"Agilitv"

International Centre for Settlement ofInvestment Disputes (ICSID) case ARB/1717

Annulment Proceedim,

The case concerns Agility's application to annul the arbitral award rendered on 22 February 2021 in ICSID Case No Arb/1717 between Agility and the Republic oflraq. The original arbitml award dismissed in full claims advanced by Agility relating to Iraq's expropriation ofAgility's investment of over USD 380 million, its failure to treat Agility fairly and equitably, and its failure to accord Agility with due process, each in breach ofthe bilateral investment treaty signed between Kuwait and Iraq.

08 Februarv 2024

Ad Hoc Committee on Annulment Under the Auspices of the International Centre for

.Settlement of Investment Disputes

Agility Public Warehousing Company K.S.C.P. - Claimant Republic of Iraq - Respondent

The Annulment Committee upheld Agility's challenge to the original award and partially annulled it. The Annulment Committee agreed with Agility that the original Tribunal had erroneously shielded Iraq's actions from scrutiny, thereby failing to examine whether Iraq's actions and omissions violated the protections afforded to Agility under the BIT. In so doing, and in failing to state the reasons on which its decision was based, the original Tribunal committed an annullable error pursuant to Article 52(1Xb), as well as Article 52(I)(e), of the ICSID Convention.Consequently, the Committee declared the original 2021 judgment to be partially annulled.

As a result ofthis award, Agility will now have the opportunity to re-file its claims before a freshly-constitutedarbitral tribunal under the auspices ofthe International Centre for the Settlement ofInvestment Disputes who will be able to determine Agility's claims including relating to lmq's expropriation of Agility's investment, its failure to treat Agility fairly and equitably, and its failure to accord Agility with full protection and security as required by the Kuwait - Iraa BIT.

NA- It is a final arbitral award regarding annulment.

NA

NA

Agility resubmitted the arbitration request, including all claims made by Agility regarding Iraq's expro1>riation ofAgility's investments without a maximum claim

value.

No financial impact at the moment

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