Page 99 - AAE PR REPORT - August 2024

8/13/24, 1:18 PM Al Ansari Financial Services signs agreement to acquire BFC Group Holdings

George Thomas, Managing Director of Protiviti Member Firm for the Middle East region, commented:
“Protiviti played a pivotal role in this landmark transaction. We were involved right from identifying the
opportunity, determining synergies and value creation opportunities, and carrying out comprehensive

due diligence on behalf of the buyer. Protiviti has advised diverse businesses on several successful
deals in recent years, with a particular focus on the financial services industry. This deal is the third
transaction in the currency exchange segment in the past two years, which is a testament to our
dominance in this space in the Middle East. Our team worked closely with AAFS and external advisors to

facilitate a seamless and smooth transaction.”

Rashed Ali Al Ansari, Group CEO of AAFS, stated: "This strategic acquisition represents a pivotal
moment in our growth trajectory, establishing our Company as the leading foreign exchange and
remittance service provider in the Gulf region. By broadening our customer base and extending our

services across the GCC and India, we aim to provide a wider audience with access to our
comprehensive remittance and foreign exchange solutions. This move enhances our regional presence
and aligns with our broader diversification strategy and expansion into new markets. Ultimately, this
transaction is designed to deliver sustainable value and optimal returns for our shareholders."

-Ends-

About Protiviti:

Protiviti is a global consulting firm that delivers deep expertise, objective insights, a tailored approach,
and unparalleled collaboration to help leaders confidently face the future. Protiviti and its independent
and locally owned Member Firms provide clients with consulting and managed solutions in finance,
technology, operations, data, analytics, digital, governance, risk and internal audit through its over 85

offices in over 25 countries. Named to the 2023 Fortune 100 Best Companies to Work For® list, Protiviti
has served more than 80 per cent of Fortune 100 and nearly 80% of Fortune 500 companies. The firm
also works with smaller, growing companies, including those looking to go public and with government
agencies. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert

Half is a member of the S&P 500 index. www.protiviti.com

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