Warba Bank today announced the successful closure of its capital increase subscription, achieving 430% coverage of the total offered value of KD 436.270 million (~$1.4 billion). The capital raise forms part of the Bank's 100% capital increase program, with public subscription for non-shareholders now closed.

Key Details:

• Total Capital Offered: KD 436.270 million ($1.4 billion)

• Subscription Coverage: 430% of offered amount

• Allocation Rate for Excess Shares: 6.247% per shareholder

• Refund Timeline: Excess subscription amounts will be returned to subscribers' bank accounts within 5 working days starting Tuesday

CEO Statement:
"This achievement reinforces Warba Bank's position as a cornerstone of Kuwait's economy," said CEO Shaheen Al-Ghanem. "The capital increase will provide a solid foundation for strategic expansion into vital economic sectors, delivering strong returns for shareholders while supporting Kuwait's prosperous future."

Technical Offering Details:

• Total Shares Offered: 2.1 billion shares

• Share Price: 200 fils (including 100 fils nominal value + 100 fils issuance premium)

• Eligibility: Offered exclusively to priority shareholders

Next Steps:

1. Transfer of subscribed amounts to Bank's capital account

2. Processing of excess subscription refunds

3. Strategic deployment of capital for growth initiatives