Page 44 - ALEF EDUCATION PR REPORT MAY 2024

5/30/24, 11:22 AM Alef Education Holding announces intention to list on ADX

The selling Shareholders expect to sell 20 per cent of the total issued share capital
of Alef Education (equivalent to 1,400,000,000 shares). All shares are existing
shares being sold by the Selling Shareholders, Tech Nova Investment - Sole
Proprietorship LLC and Kryptonite Investments LLC and the Company will not
receive any proceeds from the Offering.

The First Tranche offer (Individual Investors and other investors, including natural
persons, companies and establishments as defined in the UAE Prospectus)
subscription period is expected to run from May 28 to June 4, 2024.

The Second Tranche offer (Professional Investors as defined in
the UAE Prospectus) subscription period is expected to run from May 28 to June
5, 2024.

The Internal Shariah Supervision Committee of First Abu Dhabi Bank PJSC has

issued a pronouncement confirming that, in their view, the Offering is compliant with
Shariah principles. Investors should undertake their own due diligence to ensure that

the Offering is Shariah-compliant for their purposes.

The Selling Shareholders reserve the right to amend the size of the Offering at any
time before the end of the subscription period, subject to applicable laws and the

approval of the Securities and Commodities Authority (SCA) in the UAE.

Admission of shares to trading on the ADX is anticipated to occur on or around June
12, 2024.

Commenting on the announcement, Abdulhamid Mohammed Saeed Alahmadi,

Chairman of Alef Education's Board of Directors, said, "Our successful track record of

growth, underpinned by the value we provide and the trust we have built with
international governments, customers, and partners - including ADEK - has

culminated in this milestone moment.

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