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Material Information of AKD Capital Limited

Karachi, AKD Capital Limited informed Pakistan Stock Exchange that Sindh Revenue Board has received at the office of Mutual Funds Association of Pakistan (MUFAP) dated August 13, 2021 addressed to MUFAP pertaining to “Non-applicability of Sindh Workers Welfare Fund (SWWF) on Mutual Funds and Voluntary Pension Schemes” has clarified that Mutual Funds are not liable to contribution against SWWF.

Accordingly, the MUFAP Board in consultation with Audit Firm decided to reverse the provision held by Mutual Funds dated August 13, 2021. The decision of MUFAP was accordingly implemented by AKD Investment Management Limited on the same date to reverse the provisions and discontinue further provisioning of SWWF from August 13, 2021. This resulted positively on the Net Assets Value of the following Mutual Funds under the management of AKD Investment Management Limited: interim distribution of the funds for the year ending June 30, 2021.

AKD Capital Limited engages in real estate development activities in Pakistan. It also offers projects
financing and management services; invests in listed securities; and engages in leasing activities. The
company was incorporated in 1936 and is based in Karachi, Pakistan.

The symbol “AKDCL” is being used by the stock exchanges for the shares of AKD Capital Limited.