Takaful Emarat Insurance PSC : Integrated report for the year 2021

In the Name of Allah, the Most Gracious, the Most Merciful

The Annual Sharia Report of the Internal Shariah Supervision Committee (the "ISSC")

of Takaful Emarat for the Financial Year ended 31st of December 2021

To the General Assembly of the Company Shareholders

Issued on: 24th Mar 2022

To: Shareholders of Takaful Emarat Insurance PSC

,

Praise to Allah and Peace be upon our Prophet Muhammad.

In line with Article (63) of the Company's Articles of Association, we present the following report about the activities and accounts of the Company:

The ISSC reviewed the basis on which the Company's business has been conducted, the financial results, the investments and the products it has engaged in during the financial year ending on December 31, 2021, samples of the Takaful (Insurance) policies entered into by the Company and the new contracts and agreements signed by the Company and other activities presented to the ISSC in order to make the opinion on whether the Company is compliant with the Islamic Sharia provisions and principles, the advisory opinions, resolutions and directives issued by the ISSC.

Ensuring the Company's compliance with the Islamic Sharia provisions and principles is the responsibility of the Board of Directors and the Executive Management that is in charge of the implementation of the Company activities in accordance with its Articles of Association and in line with Islamic Sharia provisions and principles. The ISSC responsibility is limited to making an independent Shariah opinion.

The ISSC reviewed the Company's financial results and its financial structure by reviewing the balance sheet, income statement and statement of revenues and expenses.

The ISSC reviewed the Zakat calculation for a period from 1st Jan 2021 to 31st Dec 2021. The per share Zakat amount is AED 0.00232. The ISSC endorsed the Zakat calculation methodology.

The ISSC was provided with the information and interpretations to give reasonable assurance that the Company did not violate the Islamic provisions and principles in general and within the activities presented to the ISSC.

THE ISSC'S OPINION ON THE SHARI'AH COMPLIANCE STATUS OF THE COMPANY

Based on the information and explanations that were provided to the ISSC with the aim of ascertaining the Company's compliance with the Islamic Shari'ah, the ISSC has unanimously

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