Tranche Update on Gulf Investment Fund plc's Equity Buyback Plan announced on September 15, 2022.

Gulf Investment Fund plc is an Isle of Man-based investment company, which focuses on Gulf Co-operation Council (GCC) countries. The Company’s investment objective is to capture the opportunities for growth offered by the expanding GCC economies by investing, through its wholly owned subsidiary, in listed or soon to be listed companies on one of the GCC exchanges. It invests in various industry sectors, such as financials, real estate, industrials, energy, information technology sectors and among others. The Gulf Cooperation Council region comprises: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The Qatar Insurance Company S.A.Q. (QIC) acts as the Company's Investment Adviser. Its subsidiary, Epicure Qatar Opportunities Holding Limited, holds investment on behalf of the Company.