Page 27 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:57 PM Emaar EC appoints Abdulaziz Alnowaiser as CEO, effective May 1 - Eye of Riyadh

Emaar EC appoints Abdulaziz Alnowaiser as CEO, effective May 1

Emaar, the Economic City (“EEC”), the master developer of King Abdullah Economic City (“KAEC”), today (Wednesday 3rd

April 2024) announces the Board of Directors’ decision to appoint Mr. Abdulaziz Ibrahim Alnowaiser as its new Chief Executive
Officer, effective May 1st, 2024.

With his extensive background in turnaround, finance and corporate governance, Mr. Alnowaiser has been appointed for his
ability to drive the execution of the Company's long-term strategic vision. Additionally, the current CEO, Eng. Cyril Piaia, has
been appointed as an Advisor to the new CEO, Mr. Alnowaiser, which will facilitate a seamless transition of responsibilities as
of the date of joining of the new CEO.

Mr. Alnowaiser will be mandated by the Board to bring strategic insight to EEC and KAEC’s long-term planning, fostering
innovation and sustainable development across the organization and the City. With more than two decades of Board-level and
executive experience, his most recent role was the CEO of Tahakom Investments Co., a wholly-owned Company of the Public

Investment Fund with several subsidiaries across different sectors including technology, aviation, traffic management, travel &
visa solutions, human resources and real estate investments. He was previously the M&A Advisor and Vice President Finance
(CFO) at Arabian Internet and Communications Services Co. (Solutions), prior to which he was Vice President Finance (CFO)
at Al Othaim Real Estate Investment & Development Company and CEO of the House of National Consulting Company. Mr.

Alnowaiser is currently the Chairman of the Board and the Executive Committee at Tawuniya Insurance Company since 2020,
and was a Board Member from 2015 to 2019. He is also, or was, a member of the Board and/or Board Committees of several
other listed and non-listed companies. His educational qualifications includes prestigious degrees in accounting, finance and

information systems, as well as a Diploma in International Financial Reporting Standards and other professional certifications.
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