GB Auto E : Sustainability Report 2022

Table of Contents

Reporting Content and Scope

The GB Corp 2022 Sustainability Report outlines our performance and progress on defined material topics and is in line with the expectations and requests of our stakeholders. The report covers the activities of GB Corp's headquarters, manufacturing plants, as well as service centers and other admin/office buildings.

The report has been prepared through a collaboration of different businesses and departments that comprise the group, overseen and approved by the GB Corp Board of Directors.

This is our seventh sustainability report and our second GRI report. All reports are accessible from the GB Corp website. The provided data is limited to GB Corp own operations unless stated otherwise.

Reporting Period

This report covers activities that took place from January 1st, 2022, to December 31st, 2021, including some key activities undertaken until the first quarter of 2023. As for quantitative performance, since some results need to be tracked on a periodic basis, a progress covering the past two years is presented (specifically for environmental performance indicators). The reporting cycle for this report is one year.

Reporting Frameworks

This report has been developed in accordance with the GRI Standards as well as contains disclosures in line with the following frameworks: Sustainability Accounting Boards Standards (SASB) - Automobiles Standard, United Nations Global Compact (UNGC) and the Task Force on Climate- Related Financial Disclosures (TCFD).

Assurance

Masader, Corporate Sustainability Consulting Firm (S.A.E.), has provided a limited assurance statement on the content of this report.

Terms used in this report, unless otherwise specified.

• GB Corp "The Group", "We", Us" refer to the group as whole, including its consolidated subsidiaries.
• "GB Auto" refers to the listed company and its subsidiaries (GB Corp's Auto and Auto-Related Arm)

Contact Points

• Marina Kamal
  Investor Relations Assistant Vice President marina.kamal@gb-corporation.com
• Sarah Maged
  Investor Relations Communications Manager sarah.maged@gb-corporation.com
• GB Corp
  Cairo Alex desert Road - Km 28 Mohawelat Road - Industrial Zone - Abo Rawash, Giza - Egypt
  ir.gb-corporation.com

DR. RAOUF GHABBOUR

The Chairman of GB Corp, passed away last November at the age of 69.

We honor the legacy and accomplishments of Dr. Raouf Ghabbour, the man who was the main pillar of the ascension of GB Corp. Under his inspiring leadership and thoughtful supervision, GB Corp grew to become one of the region's leading automakers and a versatile group uniting solid corporate governance, exceptional customer experience, and uncompromised commitment to quality. Dr.Raouf's ingenuity, curiosity, and insight made the company endure the most turbulent times. His inclusive global vision has continuously inspired new opportunities that expanded the boundaries of the possible.

From a young age, Dr. Raouf was passionate about entrepreneurship and determined to make a name for himself. In 1993, Dr. Raouf entered the car sales industry after receiving a tip from a friend that Hyundai was searching for a new distributor in Egypt. Following

a successful presentation, Dr. Raouf secured the distributorship by agreeing to invest in a manufacturing facility. His initial foray into the industry involved importing only 1,000 cars, all sold out within a month. Despite his lack of knowledge in car manufacturing, Dr. Raouf ventured into this field, relying on his perseverance and work ethic to navigate the challenges that came his way.

At the age of 32, Dr. Raouf rebranded GB Auto and expanded the business to become one of the largest automobile distributors and assemblers in the Middle East. He spearheaded the reform and diversification of the company, as well as its listing on the Egyptian Exchange. His relentless drive for excellence and entrepreneurial spirit laid the foundation for GB Corp's continued success and growth, inspiring many to follow in his footsteps. His legacy

lives on, and his impact on the automotive industry and beyond will be felt for generations to come.

With Dr.Raouf's vision for the future of building a class of Non-Banking Financial Institution (NBFI) services, GB Corp is constantly expanding its portfolio of offerings and diversifying its services to meet the demands of a wider range of clients. As a result, GB Capital was well established as a NBFI committed to providing the Egyptian market with a comprehensive suite of financial solutions that cater to the evolving needs of its customers. GB Capital

is continuously adding new services to its NBFI portfolio, including leasing, consumer finance, factoring, microfinance, nano-financing, SME lending, insurance, mortgage finance, securitization, fleet leasing, e-payments, and other related services. These offerings cater to a wider segment of clients, both corporate and individual, and reflect the company's commitment to providing innovative and convenient solutions to meet the diverse financial needs of its customers.

Moreover, Dr. Raouf's commitment to responsible and sustainable business practices has been a driving force behind GB Corp's success as a renowned sustainable enterprise. Under his guidance, the company has embraced a forward-thinking investment strategy that places ESG considerations at the forefront of decision-making. His dedication to the development of Egypt extended far beyond merely business success, he had a genuine desire to give back to the community. With a focus on education as the key to improving the country's health and economy, Dr. Raouf has undertaken numerous charitable initiatives, particularly in the fields of children's health and housing.

Without a doubt, Dr. Raouf Ghabbour's story is one that should be shared with anyone who has aspirations of making an impact in the world. Throughout his life, he demonstrated that no goal is out of reach for someone with passion, focus, and an unbeatable work ethic. His leadership and thoughtful supervision were a beacon of hope for

those who strive to create meaningful change and make a difference in the world.

Dr. Raouf will be deeply missed, but his legacy will continue to inspire future generations of leaders in the automotive industry and beyond. His impact on the world will be felt for generations as his moral compass, wisdom, and persistence continue to guide us. Once, Dr. Raouf said that his proudest moment is "When any of my new ventures become successful and reaches a leading position in the market." Moving forward, we want to make Dr. Raouf proud and pledge our dedication towards maintaining the status of GB Corp as a global leader.

Letter from the CEO

NADER GHABBOUR

Chief Executive Officer, GB Corp

The past year has been a major milestone in the GB Corp's journey. A new brand, rapid digitalization and mainstreaming of sustainability across the business lines have come together to drive our impact.

Our choices and habits must align with nature's limits in a rapidly changing world. This is why GB Corp's impact is built on multiple strands of effort, combining quality, supply chain due diligence, digitalization, women empowerment and greening of our business lines. This is how we build

a future-proof and agile business model contributing to Egypt Vision 2030 and the UN Sustainable Development Goals.

One of our key achievements of the past year has been the Supplier Gate, a new efficient framework and digital tool for managing our supplier relations and building a resilient, transparent, and streamlined supply chain. Our suppliers now enjoy a smoother user experience and can better understand our criteria while we better assess supplier performance and build long-term relationships. Implementing such practices yields results. This was a year of flawless business integrity with zero cases of corruption, human rights violations, and discrimination. None of this would be possible without the daily choices made by our employees, and we take good care to engage, retain and develop our talent. During the past year, we invested in their career development through professional courses and tailored training opportunities, with over 40,000 hours of training.

We have also made significant steps forward on digitalization across the customer journey, from the first interaction with GB Corp to enhance sales and after-sales experience. A wide range of newly introduced digital tools and channels enable quick and efficient consideration

of customer inquiries. The recently launched Forsa app providing people with greater financial flexibility has witnessed a strong start and is now available across more than 4,000 stores. MNT-Halan'sbuy-now-pay-later digital

consumer finance product has also achieved significant growth and strengthened our position in the fintech space. We are well-positioned to continue delivering on our digital growth strategy moving forward, leveraging our position in the fintech market and bringing innovative solutions to the financing space. Among the multiple launches of the past year, I am proud of GB Corp bringing to the Egyptian market incredibly fuel efficient vehicles and multiple models with enhanced safety features. And our operational lease solutions have been recognized for their flawless service.

Our CSR efforts have witnessed another productive year spanning healthcare, vocational training and empowerment of youth and women. At the same time, GB Ventures and GB Academy continued to foster a new generation of professionals and business leaders ready to embrace the challenges of our time. We also continued our work aligned with the Women Empowerment Principles, with an increase of female employees in top management from 5% to 10% and a new flagship initiative expanding opportunities for women in the automotive industry in collaboration with the National Council for Women and ALEXBANK.

In a time of geopolitical tensions, disrupted supply chains and aggravating challenges, GB Corp keeps treading its resilient and impactful path. I hope this report highlights crucial milestones and achievements while providing

a complete and transparent disclosure of our ESG performance. COP27, hosted by Egypt, has brought a clear message: we need urgent action on mitigation and adaptation and rapid expansion of sustainability finance. Having contributed to COP27 through a clean 100%-electric30-bus fleet, GB Corp has reiterated its commitment to

a clean and sustainable future. The COP27 was also a significant reminder that maintaining the status quo won't help solve the climate emergency.

Sincerely yours,