Emiri Decree No. (10) of 2024 On Al Jazira Aviation Club We, Saud Bin Saqr Bin Mohamed Al Qasimi Ras Al Khaimah Ruler After perusal of Emiri Decree No. 6 of 1998 on Establishing Al Jazira Aviation Club; And based upon what public interest requires; have promulgated the following: Article (1) The legal form of Al Jazira Aviation Club shall be amended to be a limited liability company (“the Company”) effective from issue date of the trade license and registration thereof with Department of Economic Development in Ras Al Khaimah Emirate. Article (2) The ownership of the company shall be wholly devolved upon (100%) Ras Al Khaimah Transport and Logistics Holding L.L.C. and the Company will continue to operate to achieve social objectives thereof through teaching and promoting aviation and enhancing aerial activities and adventures in the community, develop sport tourism to enlarge the economic benefits in the emirate and accordingly, the company shall commit to use the income and assets thereof to promote the main purpose of establishing it. Article (3) All assets and movables owned by Al Jazira Aviation Club shall vest in the Company. The Company shall be considered the legal and factual successor of the Club regarding all rights and liabilities thereof. Article (4) All employees and staff in Aviation Club shall remain with their positions, salaries, rights and privileges. Article (5) Memorandum and Articles of Association of the Company shall be drafted according to Federal Commercial Companies Law No. 32 of 2021, as amended. Article (6) The Aviation Club legal form amendment shall be published immediately upon the promulgation of this Decree in one of the daily local newspapers published in Arabic. Article (7) Any of the creditors or rights holders over Aviation Club shall be entitled to object to the amendment decision at the Club's headquarters within seven days from publishing the amendment decision, provided that the objection shall be in writing and includes a statement of all reasons and aspects thereof. Article (8) The objection shall be decided on either by settlement or rejection within 30 days from the date of submitting it to Aviation Club Management. Article (9) If the objection is not decided on within the above-mentioned 30 days, the objecting party shall be entitled to approach the competent court in Ras Al Khaimah emirate. Article (10) The amendment procedures shall be suspended until all objections submitted within the legal term mentioned above in Article 7 (if any) are decided on either by Aviation Club Management or the competent court. Article (11) If no objection has been submitted in respect of the amendment decision within the legal term mentioned above in Article 7, the amendment procedures shall be completed in accordance with the provisions of this Decree. Article (12) Any decrees and resolutions whose provisions contradict with the provisions and clauses of this Decree shall be repealed. Article (13) This Decree shall come into force as date of its promulgation and be published in the Official Gazette. Saud Bin Saqr Bin Mohamed Al Qasimi Ras Al Khaimah Ruler Promulgated by us on this day sixteenth of Ramadan 1445H. Corresponding to twenty eighth of March 2024G.