Dec 21, 2021

Cancelation Of Listing Of GDRs And Termination Of GDR Programs

The European Union Market Abuse Regulation EU 596/2014 requires Palm Hills Developments S.A.E to

disclose that this announcement contains inside information, as defined in that Regulation.

Palm Hills Developments ("PHD" or "the Company") announce following application to the Financial Conduct Authority (the "FCA") and the London Stock Exchange (the "LSE") and its announcement on 29 September 2020, the cancellations of the admission to listing of its Global Depositary Receipts ("GDRs") on the Official List of the FCA and the admission of its GDRs to trading on the main market of the LSE, with effect from 8:00 a.m. UK time, today, 22 December 2020.

In addition, the GDR programs have been terminated and the GDRs cancelled, such termination and cancellation also taking effect, today, 22 December 2020. Each GDR represented 20 ordinary shares of PHD (the "Shares"). The Shares will continue to be listed and traded on the Egyptian Stock Exchange.

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