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Warba Tier 1 Sukuk Ltd (Capital Cert): 13 March 2017

The Tier 1 Capital Certificates of Warba Tier 1 Sukuk Limited will be constituted by a declaration of trust entered into between the Trustee, Warba Bank K.S.C and BNY Mellon Corporate Trustee Services Limited as the delegate of the Trustee. The Certificates confer on the holders of the Certificates from time to time the conditional right to receive certain payments arising from an undivided ownership interest in the assets of a trust declared by the Trustee pursuant to the Declaration of Trust over the Trust Assets.

The Bank is a Kuwaiti public shareholding company where The State of Kuwait, represented by the Kuwait Investment Authority, owns 25.23% of the Bank’s total shares, the Public Institution for Social Security owns 6.83% and Al Sayer Holding Company owns 7.13% as of 31 December 2016. The Bank offers a range of banking and investment services in compliance with the principles of Islamic Sharia.

Periodic Distribution Amounts shall be payable subject to and in accordance with the Conditions on the outstanding face amount of the Certificates from amounts of Rab-al-Maal Mudaraba Profit and Rab-al-Maal Final Mudaraba Profit.

The transaction structure relating to the Certificates has been approved by the Sharia Supervisory Board of the Bank, the Fatwa & Shariah Supervisory Board of KFH Capital Investment Company KSCC, the Fatwa and Shari'a Supervisory Board of Noor Bank PJSC and the Shariah Supervisory Committee of Standard Chartered Bank.