Qatar

On 4  August 2025, the Board of Directors of the Qatar Financial Markets Authority (“QFMA”) issued Decision no. 5 of 2025, issuing the Governance Code of Listed Companies (the “New Code”). The New Code, published in the Official Gazette dated 17 August 2025, came into effect immediately. However, affected companies have one year to make changes necessary to comply with its provisions. With over 50 companies listed on the Qatar Stock Exchange (“QSE”) as of this writing, dozens of prominent Qatari companies may need to consider how to come into compliance before August 2026. Here are some key takeaways from the New Code that QSE-listed companies should consider: As mentioned above, affected companies have one year to make necessary amendments to come into compliance with the New Code. Nevertheless, the New Code is effectiveupon publication, meaning that companies currently applying to convert into a Qatari Public Shareholding Company (“QPSC”) and be listed on the QSE may have to make last minute adjustments in order to comply with the New Code. These adjustments could include: Revising their proposed QPSC Memorandum and Articles of Association Revising Board Charters before they take effect Expanding their proposed Board of Directors Updating the draft Offering Prospectus before publication in order to accurately reflect the governance structure, size and names of Board members, among other information. It would be advisable for companies currently going through the listing application process to check with the QFMA and confirm whether they may proceed with their applications as is. The New Code applies to both Main Market and Venture Market public listed companies. Previous governance codes were limited to one category or the other. (As of this writing there is only 1 company on the Venture Market, but it is expected that this number will increase in the next year or so.) 6.The definition of “Insider” has been expanded to include both Board Committee Members and the spouses and children of Insiders. Higher standards now apply to Independent Board Members, including the following requirements: Relevant education and professional experience Shareholding restrictions also apply to the first degree relatives of the potential Independent Board Member Employment restrictions apply to both the Independent Board Member and his/her first degree relatives Independent Board Members cannot serve more than 2 consecutive terms Instead of a minimum requirement for one-third (1/3) of the Board to be independent, the New Code requires an absolute minimum of 3 Independent Board Members. For smaller boards (with the minimum of 7 members), this would result in a largely independent Board (nearly 50%). For larger boards (e.g. 11 members), this could potentially result in a board that is less than 1/3 independent. More focus has been given to ESG issues, with an obligation on listed companies to consider their impact on the environment and on society, in addition to good governance. The Chairman of the Board of the QFMA may extend the one-year compliance grace period for one or more additional one-year periods. GLA will continue to monitor developments with respect to the 2025 Governance Code and will publish a more detailed summary in the coming weeks. For more information, please feel free to contact Dean Jaloudi, Partner and Head of Qatar Office ([email protected]). Author: Dean Jaloudi, Partner

Riyadh, Saudi Arabia 01, May 2025: Massar Business Solutions and Omani & Partners are pleased to announce their strategic alliance, combining legal excellence and business innovation to deliver integrated solutions across Saudi Arabia and the wider region. Founded with a mission to serve the corporate law, property, and litigation needs of businesses across all five continents, Omani & Partners LLP brings unmatched expertise in both domestic and international commercial contracts. Their team of highly specialized professionals includes university professors, former judges, senior state attorneys, and international law experts. This partnership reflects the shared vision of both organizations to support businesses and government entities in Saudi Arabia by delivering world-class legal counsel, strategic advisory, and cutting-edge business technologies. By combining Massar’s expertise in business incorporation, client onboarding, and visa facilitation with Omani & Partners’ elite legal services, the partnership will enable clients to confidently navigate complex regulatory environments, safeguard their interests, and expand across borders. “This partnership marks a transformative moment for businesses operating in the MENA region and globally,” said Steven Little, CEO of Massar Business Solutions. “Together with Omani & Partners, we are building a robust ecosystem that not only addresses today’s challenges but also paves the way for sustainable growth and success in the future.” “At Omani & Partners LLP, we are proud to collaborate with Massar Business Solutions to deliver integrated legal and business services that meet the evolving needs of the Saudi market. Together, we are committed to supporting clients with innovative, practical solutions that enable sustainable growth and cross-border success.” said Dr. Nasser Al-Adba, Founder and Managing Director of Omani & Partners LLP. The collaboration also emphasizes a strong commitment to thought leadership and global engagement. Omani & Partners is actively involved in international legal forums and maintains key relationships with courts, and academic institutions worldwide. Companies across Saudi Arabia and beyond can now benefit from a powerful combination of business facilitation and world-class legal support, prepared to meet the demands of a fast-evolving market and are ready to lead clients to new heights of strategic success. For enquiries, please contact [email protected] For information on Massar Business Solutions visit www.massaraa.com For information on Omani & Partners LLP visit Omani & Partners

Riyadh, Kingdom of Saudi Arabia – Omani & Partners LLP, a leading law firm specializing in dispute resolution, corporate and commercial law, and emerging legal fields, has officially opened its new office in Riyadh, Saudi Arabia. This expansion marks a significant step in the firm’s commitment to supporting businesses in the Kingdom, aligning with the goals of Saudi Arabia’s Vision 2030. Strategic Growth in a Dynamic Market The Riyadh office enhances Omani & Partners’ ability to deliver tailored, on-the-ground legal solutions in one of the world’s most transformative markets. The firm’s expertise spans real estate and construction claims, mergers and acquisitions, technology-related matters, and litigation, positioning it as a trusted advisor for businesses navigating the Kingdom’s evolving legal and regulatory landscape. Leadership Driving Excellence The Riyadh office is spearheaded by Managing Partner Mr. Ibrahim Al-Amiry, with Counsel Ahmed Helmy bringing additional expertise to the team. Together, they provide clients with actionable insights and practical solutions for the Kingdom’s most complex legal challenges.   Strengthening Regional and Global Capabilities Omani & Partners’ presence in Saudi Arabia, and its headquarters in Doha, Qatar, enhances its ability to provide seamless legal support across the GCC and beyond. The firm’s global network ensures clients receive efficient, tailored solutions for cross-border matters. About Omani & Partners LLP Omani & Partners LLP is a premier law firm offering expertise in dispute resolution, corporate and commercial law, and emerging legal fields. Combining deep regional knowledge with a global perspective, the firm empowers businesses to succeed in today’s fast-evolving legal and economic environment.     For more information or to connect with the Riyadh team, please contact: Riyadh - Prince Mohammed bin Salman Road - Al Aqeeq District. Ibrahim Al-Amriy Managing Partner Tel: +966 59 857 4668 [email protected]