General UAE Legal Questions LawLaw No. (10) of 2019

Article (2) The following words and expressions, wherever mentioned in this Law, will have the meaning indicated opposite each of them unless the context implies otherwise: Emirate: The Emirate of Dubai. ©2020 The Supreme Legislation Committee in the Emirate of Dubai 1Every 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 te xt will prevail.

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Law No. (10) of 2019 Amending Law No. (24) of 2009 Establishing the Dubai Financial Support Fund Page 2 of 4 Government: The Government of Dubai. Executive Council: The Executive Council of the Emirate of Dubai. SFC: The Supreme Fiscal Committee in the Emirate of Dubai. DOF: The Department of Finance. Director General: The director general of the DOF. DFSF: The Dubai Financial Support Fund. Executive Director: The executive director of the DFSF.

Article (9) The Director General will undertake the general supervision of the administrative, technical, and financial affairs of the DFSF, and will issue any resolutions and procedures he deems appropriate for the achievement of the objectives of the DFSF. In particular, the Director General will have the duties and powers to: 1. approve the general policy of the DFSF and its affiliated corporations and companies, and determine their programmes and projects; and submit this policy to the SFC for final approval; 2. obtain loans and the financing required for the achievement of the objectives of the DFSF and its affiliated corporations and companies; and provide all guarantees and security required for the same; 3. establish corporation, companies, commercial enterprises, offices, and branches; and buy and sell assets and shares, in accordance with the legislation in force; 4. propose the criteria and rules for provision of financial support by the DFSF and submit the same to the SFC for approval; 5. propose the strategic projects and the entities eligible for support, and submit the same to the SFC for approval; 6. approve the financial, administrative, and technical bylaws regulating the work of the DFSF; and submit the same to the SFC for final approval;

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Law No. (10) of 2019 Amending Law No. (24) of 2009 Establishing the Dubai Financial Support Fund Page 3 of 4 7. regulate the procedures for contracting with third parties, including any loan agreements concluded by the DFSF with the entities eligible for financial support; and submit the same to the SFC for approval; 8. form permanent and temporary committees and work teams, and determine their duties and powers; 9. approve the organisational structure of the DFSF, and submit the same to the Executive Council for final approval; 10. approve the draft annual budget of the DFSF, and submit the same to the SFC for final approval; 11. approve the annual report on the performance, activities, and investments of the DFSF and its affiliated corporations and companies; and submit the same to the SFC; 12. appoint, and determine the remuneration of, external auditors; and review the reports and notes submitted by these auditors at the end of each Financial Year; and 13. exercise any other duties or powers assigned to him by the SFC and required to achieve the objectives of the DFSF and to enable it to exercise its duties and powers under this Law.

Article (11) a. The DFSF will have an Executive Director appointed pursuant to a resolution issued by the Chairman of the Executive Council upon the recommendation of the Director General. b. The Executive Director will have the duties and powers to: 1. propose the organisational structure, and the bylaws regulating the administrative, financial, and technical affairs of the DFSF; and submit the same to the Director General for approval; 2. prepare the annual budget of the DFSF, and submit the same to the Director General for approval; 3. represent the DFSF before third parties and conclude the contracts and agreements required for the achievement of the objectives of the DFSF; 4. supervise the daily work of the DFSF; 5. submit regular reports on the workflow of the DFSF to the Director General; and 6. exercise any other duties or powers assigned to him by the Director General.

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Law No. (10) of 2019 Amending Law No. (24) of 2009 Establishing the Dubai Financial Support Fund Page 4 of 4