NOTES TO FINANCIAL STATEMENT

Post reporting date events

On 31 January 2022, the UAE Ministry of Finance announced the introduction of a 9% federal corporate tax rate effective for fiscal years commencing on or after 1 June 2023. There are no implications to the financial and reporting period ended 31 December 2021. Management is in the process of evaluating the consequences to the financial information / statements and will communicate the conclusion of their evaluation at an appropriate future time.

There have been no other events subsequent to the statement of financial position date that would significantly affect the amounts reported in the financial statements as at and for the period ended
31 December 2021.