During the board meeting conducted by the Board of Directors (the "Board") of Aabar Investments PJSC (the "Company") on 31March 2010, the Board approved the calling of an Extraordinary General Assembly to consider the issuance of convertible bonds of up to AED 7,346 million and recommend a conversion price of AED2.5 per share.

The bonds will be issued to the International Petroleum Investment Company and the proceeds of the bonds will be used by the Company for general corporate purposes. There is no set conversion date for the convertible bonds.

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