DEPA BOARD NAMES MOHAMED AL FAHIM AS CHAIRMAN

Dubai, UAE; 15 September 2014: Depa Limited (Nasdaq Dubai: Depa), one of the world’s leading interior contracting companies, announces the appointment of Mr. Mohamed Ali Al Fahim as Chairman of the Company. This follows the resignation of Mr. Hasan Ismaik on the 25 June 2014. The appointment was approved unanimously by the Board of Directors Meeting on the 8 September 2014.

Mr Al Fahim has previously chaired Depa’s Audit & Compliance Committee and acted as a Non-executive Director since May 2013. He is currently an Executive Board member and acting CEO of Arabtec Holding PJSC, and the Head of Finance at the Finance & Accounts department of International Petroleum Investment Company (IPIC). He is also a Non-executive board member of a number of companies, including Aabar Investments PJS, First Energy Bank, RHB Group, Oasis Capital, Al Izz Islamic Bank, Energias De Portugal (EDP) and UniCredit SpA. Mr Al Fahim holds a B.Sc. in Finance from Suffolk University, USA.

The Board further approved the appointment of Mr Roderick Maciver, who is currently an Independent Non-executive Director of the Board, as Vice Chairman and also confirmed Mr Sayed Zakaria’s position as an Independent Non-executive Director, following his initial appointment on an interim basis on 25 August 2014. The Board is satisfied that Mr Zakaria meets the independency criteria as set out in the DFSA Markets Rules. The Board appointed Mr. Zakaria in line with the Company’s Articles of Association, his re-appointment will be subject to shareholder resolution at the Company’s next general assembly.

Furthermore, the Board approved the following changes to its committees:

• Mr Al Fahim has ceased to be the Chairman of the Audit and Compliance Committee and the Nomination and Remuneration Committee
• Mr Edward Quinlan has been appointed as Chairman of the Audit and Compliance Committee
• The company will appoint a third member to the Audit and Compliance committee, a separate announcement will be issued in due course.
• Mr Sayed Zakaria has been appointed to chair the Nomination and Remuneration Committee
• Mr Roderick Maciver has been appointed to the Nomination and Remuneration Committee
• Mr Tareq Abu Shreehah has ceased to be a member of the Nomination and Remuneration Committee
• The Investment and Legal Committees have been dissolved as superfluous.

The current composition of the Board and its committees are as follows:

These changes have been resolved during the board meeting of 8 September 2014 with immediate effect.

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For more information, please refer to the corporate website: www.depa.com