Motivating messages to investors during a conference at the Egyptian Stock Exchange.

Statement issued by the Ministry of Finance: Kajok...in motivating messages to investors during a conference at the Egyptian Stock Exchange: “Everyone will benefit from the new tax facilities.” Tax facilities “come from the market, the private sector, and specialists” through an extended dialogue within a framework of trust and partnership We aim to provide strong support to the financial market and attract large and influential companies We aim to work to support all companies to expand An investment incentive of 15% off the tax due in the declaration for a period of 3 years to encourage the listing of large companies on the stock exchange A stamp tax instead of capital gains to reduce burdens and stimulate investment and trading in the Egyptian Stock Exchange Ahmed Kouchouk, Minister of Finance, confirmed that everyone will benefit from the new tax facilities, taking into account that they “come from the market, the private sector and specialists” through an extended dialogue within a framework of trust and partnership. The minister said, in motivating messages to investors during a conference at the Egyptian Stock Exchange, that we aim to provide strong support for the financial market, attract large and influential companies, and also work to support all companies to expand, pointing out that there is an investment incentive of 15% as a deduction from the tax due in the declaration for a period of 3 years to encourage the registration of large companies on the stock exchange. He added that a stamp tax was approved instead of a capital gains tax to reduce burdens and stimulate investment and trading in the Egyptian Stock Exchange, explaining that the stamp tax for non-residents was reduced to 5.0 per thousand instead of 1.25 per thousand to achieve justice between “residents” and “non-residents.” Kajok stressed that we are happy with the results achieved and the significant increase in the volume and value of daily trading on the Egyptian Stock Exchange, noting that market maker activity is exempted from the stamp tax on the sale and purchase of restricted securities for the purposes of supporting this activity. The minister explained that the private sector is the primary engine of economic growth, and we aim to maintain economic stability and a greater role for the private sector in economic activity and investments. We also aim to work on approving a new facilities package that will be an important addition to the competitiveness of the Egyptian economy, explaining that we are committed to the path of economic reform and enhancing the attractiveness of the Egyptian market for investment by continuing to implement structural reforms to improve the investment environment and increase production and export rates of goods and services.