Ad hoc announcement pursuant to Art. 53 LR.
Press Release

Orascom Development Holding AG announces Chairman's Succession Plan.

Altdorf, 15 December 2021 - Orascom Development Holding AG (ODH) announces that Chairman of its Board of Directors Mr. Samih Sawiris will step down, and will not stand for re-election, as Chairman at the next Annual General Meeting in Spring 2022. He is leaving ODH after more than 30 years at the helm. Samih Sawiris will remain actively involved in Andermatt Swiss Alps AG (ASA) as Chairman of its Board of Directors and as majority shareholder.

The Board of Directors of ODH will propose Mr. Naguib Samih Sawiris for election as Chairman of the Board at the Annual General Meeting. Naguib Samih Sawiris has been a Member of the Board since 2016 and has served as Vice Chairman since 2020. Samih Sawiris will remain available as Advisor to the company. As part of the proposed succession plan, Naguib Samih Sawiris will also become ODH's majority shareholder and Samih will transfer control over to Naguib.

"Reflecting on the past 30 years, I am incredibly proud of everything we've built," said Samih Sawiris. "It has been a rewarding journey, and I am grateful to everyone who has been a part of it. It's now time to look forward to ODH's next chapter. Naguib's experience building and investing in successful technology businesses in the U.S., and his active role in supporting ODH through the COVID crisis, has made me confident that he is both capable and committed to successfully leading ODH into the future, together with CEO Omar El Hamamsy and the support of the Board. I wish them all the best."

Naguib Samih Sawiris added, "I look forward to stepping into the role as Chairman with a deep sense of responsibility and gratitude. My focus will be to ensure ODH returns to its former prosperity and becomes a category-defining destination development company. This will be achieved by a determined focus on our customers, our employees and our partners."

The notice of the Annual General Meeting will be published in due course.

About Orascom Development Holding (ODH):

ODH is a leading developer of fully integrated destinations that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. ODH's diversified portfolio of destinations is spread over 7 jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro, and United Kingdom), with primary focus on touristic destinations. ODH currently operates nine destinations: four in Egypt (El Gouna, Taba Heights, Makadi Heights and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro, and Andermatt in Switzerland. The shares of ODH are listed on SIX Swiss Exchange. ODH recently launched O West, the latest addition to its portfolio and its first project in Cairo, Egypt, located in the Sixth of October City.

Contact for Investors:
Sara El Gawahergy
Head of Investor Relations & Strategic Projects Management
Tel: +202 246 18961
Tel: +41 418 74 17 11
Mob: +41 79 156 78 49
Email: ir@orascomdh.com

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch

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The information contained in this e-mail, its attachment and in any link to our website indicated herein is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorized to access or use any such information. Certain statements in this e-mail and the attached news release may be forward-looking statements, including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Forward-looking statements include statements regarding our targeted profit improvement, return on equity targets, expense reductions, pricing conditions, dividend policy and underwriting claims improvements. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Orascom Development Holding's plans and objectives to differ materially from those expressed or implied in the forward-looking statements (or from past results). Factors such as (i) general economic conditions and competitive factors, particularly in our key markets; (ii) performance of financial markets; (iii) levels of interest rates and currency exchange rates; and (vii) changes in laws and regulations and in the policies of regulators may have a direct bearing on Orascom Development Holding's results of operations and on whether Orascom Development Holding will achieve its targets. Orascom Development Holding undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise. It should further be noted that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of the full-year results. Persons requiring advice should consult an independent adviser.