General UAE Legal Questions LawLaw No. (6) of 2020

Article (7) a. The KFE will have a Board of Directors comprised of a Chairman, a vice chairman, and a number of experienced and specialised members appointed pursuant to a resolution of the Chairman of the Executive Council for a renewable term of three (3) years. b. The Board of Directors will undertake general supervision of the KFE and of the performance of its functions under this Law and the resolutions issued in pursuance hereof. In particular, the Board of Directors will have the duties and powers to: 1. approve, and supervise the implementation of, the general policy of the KFE and its strategic and development plans, in line with the strategic plans of the Emirate; ©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 text will prevail.

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Law No. (6) of 2020 Amending Law No. (16) of 2017 Concerning the Knowledge Fund Establishment Page 2 of 2 2. approve the projects, programmes, and initiatives aimed at supporting education and improving its quality, in line with the strategic plans of the Emirate; 3. approve the organisational structure of the KFE and the bylaws, regulations, and resolutions governing its administrative, financial, and technical work; 4. approve the internal bylaws regulating the use of the KFE’s property, assets, and returns on investment; 5. approve the fees and charges for the services provided by the KFE, and submit the same to the competent entities in the Emirate for final approval; 6. approve the draft annual budget and financial statements of the KFE, and submit the same to the competent entities in the Emirate for final approval; 7. form permanent and temporary sub-committees and work teams; and determine their duties, functions, and tenures; 8. approve the annual report on the work, activities, and financial performance of the KFE; and submit the same to the Chairman of the Executive Council; 9. appoint auditors and determine their annual remuneration; and 10. exercise any other duties or powers required for the achievement of the objectives of the KFE. Commencement and Publication