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KSA Sukuk Ltd (Trust Issuance Prog): 08 April 2017

Under this Trust Certificate Issuance Programme, KSA Sukuk Limited (in its capacity as issuer and trustee) may elect from time to time, subject to compliance with all relevant laws, regulations and directives, to issue trust certificates denominated in any currency agreed between the Trustee, the Kingdom of Saudi Arabia and the relevant Dealer(s).

Trust Certificates may only be issued in registered form. The Trust Certificates may be issued on a continuing basis to one or more of the Dealers specified under ‘‘Overview of the Programme’’ and any additional Dealer(s) appointed under the Programme from time to time by the Trustee and the Kingdom, which appointment may be for a specific issue or on an ongoing basis.

The transaction structure relating to the Trust Certificates has been approved by the Shari’ah Advisory Board of Citi Islamic Investment Bank E.C., the Shari’ah Committee of HSBC Saudi Arabia Limited, Sheikh Dr. Mohamed Ali Elgari, Sheikh Nizam Yaquby and Sheikh Dr. Walid ibn Hady, the Shari’ah advisors of J.P. Morgan Securities plc, Dr. Hussein Hamid Hassan, the Shari’ah advisor of Deutsche Bank AG, London Branch, the Shari’ah Supervisory Committee of BNP Paribas including Sheikh Nizam Yaquby, Dr. Abdul Sattar Abu Ghuddah and Dr. Mohamed Daud Bakar and the NCB Capital Company Shari’ah Board.