UAE Corporate / Commercial LawLaw No. (20) of 2009 Establishing Falcon Corporation

Article (2) The following words and expressions will have the meaning indicated opposite each of them unless the context implies otherwise: Emirate: The Emirate of Dubai. Ruler: His Highness the Ruler of Dubai. Government: The Government of Dubai. Falcon: Falcon Corporation. Chairman: The chairman of Falcon. Executive Director: The executive director of Falcon. ©2020 The Supreme Legislation Committee in the Emirate of Dubai 1 Every effort has been made to produce an accurate and complete English version of this legislation. However, for the purpose of its interpretation and application, reference must be made to the original Arabic text. In case of conflict, the Arabic text will prevail.

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Law No. (20) of 2009 Establishing Falcon Corporation Page 2 of 5

Article (7) For the purpose of achieving its objectives, Falcon will have the duties and powers to: 1. promote the Emirate at the regional and international levels through visual media; 2. provide media coverage of all economic, commercial, industrial, sports, tourism, social, and cultural events, conferences, exhibitions, and other activities that take place in the Emirate; 3. provide all foreign media with the information and data, as well as the details of the events and activities, related to the Emirate; 4. establish, regulate, manage, and invest in visual media platforms within and outside of the Emirate; 5. invest in media projects and manage commercial corporations and companies;

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Law No. (20) of 2009 Establishing Falcon Corporation Page 3 of 5 6. establish and wholly own commercial corporations and companies that conduct activities related to visual media, or own shares in such corporations and companies; 7. own and take lease of the movable and immovable property required for the achievement of its objectives; 8. open and manage accounts in banks based within and outside of the Emirate, and obtain loans required for the achievement of its objectives and those of its affiliates; and 9. coordinate with the concerned government entities in the Emirate and with regional and international media agencies and corporations.

Article (9) The Chairman will have the duties and powers to: 1. approve the general policy, strategic plans, and programmes of Falcon; 2. approve the annual draft budget and financial statements of Falcon; 3. approve the organisational structure and the bylaws regulating the administrative, technical, financial, and human resources affairs of Falcon; 4. establish companies, corporations, commercial enterprises, and representation offices; and buy and sell assets of, and shares in, subsidiaries of Falcon; 5. invest the property of Falcon in projects that are in line with its general policy; 6. appoint auditors and determine their remuneration at the beginning of each financial year; 7. appoint the Executive Director of Falcon; 8. form permanent and temporary committees and determine their duties and powers; and 9. exercise any other duties or powers required for the achievement of the objectives of Falcon.

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Article (11) The Executive Director will undertake the general supervision of the work and activities of Falcon, and will represent it before third parties. For this purpose, his duties will include: 1. proposing the general policy and strategic plans of Falcon, and submit the same to the Chairman for approval; 2. implementing the approved general policy and the resolutions issued by the Chairman; 3. proposing the initiatives, programmes, projects, studies, and recommendations that are relevant to the work and activities of Falcon, and submitting the same to the Chairman for approval; 4. preparing the annual budget and financial statements of Falcon, and submitting the same to the Chairman for approval; 5. preparing the annual report on the activities and financial position of Falcon, and submitting the same to the Chairman for approval; 6. supervise the work of the executive body of Falcon and appointing competent and specialised employees; 7. proposing the organisational structure and the bylaws regulating the administrative, financial, and technical work of Falcon; and submitting the same to the Chairman for approval; and 8. performing any other duties that are related to the objectives and Functions of Falcon and assigned to him by the Chairman .