Ad hoc announcement pursuant to Art. 53 LR.

Press Release

Orascom Development Holding AG publishes annual report and announces changes in the Board of Directors

Altdorf, 8 April 2022 - Orascom Development Holding AG (ODH) today published its 2021 Annual Report which can be accessed under the following link: Annual Report 2021

At the same time ODH announces that the current members of the Board of Directors, Naguib S. Sawiris, Franz Egle, Jürgen Fischer, Amine Omar Tazi-Riffi and Eskandar Tooma are standing for re-election to the Board. In addition to Samih Sawiris (media release of December 15, 2021), Board members Barbara Heller, Carolina Müller-Möhl, and Jürg Weber will not stand for re-election. Barbara Heller will move to the Board of Directors and the Audit Committee of Andermatt Swiss Alps AG (ASA), a 49% financial investment of ODH.

The Board of Directors has also decided to propose only one new member, Maria Rioumine, for election to the Board. As a result of these changes, the Board of Directors will be reduced to six members (previously nine). Maria Rioumine is a British citizen and lives in the USA. She brings with her extensive experience as a CEO and investor in the technology sector and will support ODH in particular in its digitalization efforts. As also previously announced on December 15, 2021, the Board of Directors proposes to elect Naguib S. Sawiris as the new Chairman of the Board of Directors.

Samih Sawiris, outgoing Chairman of the Board of Directors, said: "Carolina Müller-Möhl has earned exceptionally great merits for the development of ODH since her first election in 2008, and I am very grateful for her lasting contribution during our 14 years together at ODH. Jürg Weber has been a member of the Board of Directors since 2014 and has since chaired the Audit Committee with the greatest competence. His contributions have significantly supported our success. I would like to express my sincere thanks for his great support and contributions. Barbara Heller has been a member of the ODH Board of Directors since 2021 and was a member of the Audit Committee. I am very pleased that she will make her knowledge and experience available in the future as a member of the Board of Directors of Andermatt Swiss Alps AG ASA." Samih Sawiris concluded, "ODH has benefited greatly from the leadership and prudent actions of our three esteemed colleagues, and we wish them all the best for the future."

Maria Rioumine is CEO and Co-Founder of Agora Systems, a software company based in San Francisco, United States, that is modernizing the procurement of building materials and has received $45 million in funding to date from investors including Tiger Global and Tishman Speyer. She also co-founded Real Capital Innovation, a financial technology company providing financial forecasting solutions to institutional investors, which was acquired by Addepar in December 2020. She was previously Chief of Staff to Joe Lonsdale, Co-Founder of Palantir, and helped him build 8VC, a venture capital fund with over $3.5bn in AUM. Rioumine formerly worked in Investment Banking at Goldman Sachs focused on the Real Estate, Healthcare, and Consumer sectors. She holds an MA in Philosophy, Politics, and Economics from Oxford University, where she was also President of the Oxford Union.

The notice of the 2022 Annual General Meeting will be published in due course. In addition to the aforementioned changes to the Board, the Board will propose the renewal and increase of the company's authorized capital. Mrs. Barbara Merz Wipfli, attorney-at-law and notary, will be proposed as independent proxy to succeed Dr. Hansheiri Inderkum who has decided not to stand for reelection and whose term will therefore end upon the conclusion of the 2022 Annual General Meeting. As a precautionary measure this year's Annual General Meeting will again be held without the physical presence of shareholders.

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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