Burqan Increases Its Capital Through Pre-emptive Rights to Bolster the Upcoming Growth Phase

Burgan Bank has initiated the process of increasing its capital by up to 50 million Kuwaiti dinars through the issuance of rights shares. The subscription period opened on August 31, 2026, and will remain open until 1:00 PM Kuwait time on Monday, September 14, 2026.

This move aims to strengthen the Bank’s capital base and enhance its financial resilience to support the next phase of its growth strategy. The new capital will underpin the Bank’s strategic pillars, which include strengthening its operations in Kuwait, executing an asset rebalancing strategy, and advancing digital transformation, while continuing to invest in core businesses and seizing calculated growth opportunities within rigorous risk and capital management frameworks.

Eligible shareholders registered in the Bank’s records as of the record date, August 30, 2026, along with rights holders, are entitled to participate in the subscription in accordance with the terms and conditions outlined in the prospectus and the subscription application form.

**Capital Increase Structure and Key Terms**

The proposed issuance involves offering 277.77 million new shares at a subscription price of 180 fils per share, comprising a par value of 100 fils and an issue premium of 80 fils per share.

Eligible shareholders are entitled to subscribe for shares equivalent to approximately 7.10% of their current shareholding, subject to the terms and conditions set forth in the prospectus and subscription application form. For instance, every 1,000 shares held by a shareholder grants the right to subscribe for 71 new shares. Each rights entitlement allows the holder to subscribe for one new share during the dedicated rights subscription period. Qualified subscribers may also apply for additional shares exceeding their allocated quotas, subject to availability and the allocation mechanism specified in the prospectus.

Upon completion of the proposed issuance, the Bank’s issued and paid-up capital will increase by approximately 27.78 million dinars, with the issue premium totaling approximately 22.22 million dinars, bringing total subscription proceeds to nearly 50 million dinars.

Solidifying its capital position will enhance Burgan Bank’s ability to direct its capital toward strategic priorities and support its core activities, while prudently capitalizing on promising investment opportunities. This will be achieved while maintaining a balanced approach to risk, liquidity, and capital management. The offering is managed by KAMCO Invest, the investment arm of Burgan Bank, acting as the issuance advisor and subscription agent.

**Capital to Support Strategic Priorities**

The new capital will support the continued implementation of Burgan Bank’s strategic agenda, with a focus on consolidating its operations in Kuwait, advancing its asset rebalancing strategy, and accelerating digital transformation. Strengthening the Bank’s activities in Kuwait remains a cornerstone of its strategy, targeting continuous investment to improve its competitive position, enrich customer relationships, and leverage the strength of its core businesses.

The asset rebalancing strategy focuses on directing capital toward areas offering attractive risk-adjusted returns, thereby supporting a more efficient and sustainable balance sheet. Simultaneously, digital transformation will continue to enhance the Bank’s operational model and customer experience, strengthening its ability to deliver innovative, technology-driven banking solutions. Collectively, these priorities aim to solidify Burgan Bank’s position for sustainable growth, ensuring capital is deployed through a disciplined approach grounded in financial discipline and prudent risk management.

Sheikh Abdullah Nasser Al-Sabah, Chairman of the Board of Directors of Burgan Bank, stated: “Shareholder participation in the Bank’s capital increase represents a renewed partnership in its future journey, reflecting the importance of aligning growth ambitions with long-term investor interests. We have ensured that the rights issue process allows eligible shareholders the opportunity to maintain their ownership stake and contribute to the Bank’s next phase of development. We view this step as a cornerstone supporting the Bank’s future, based on a clear vision to achieve sustainable value for shareholders in the long term, while adhering to the highest standards of governance and disciplined capital management.”

He added: “This process is built upon Burgan Bank’s nearly five decades of banking expertise, which complements KAMCO Invest’s 28 years of experience in investment banking and capital markets. The integration of these capabilities and expertise provides greater depth and scope to support disciplined capital deployment, seize strategic opportunities, and deliver sustainable long-term value.”

Tony Daher, Chief Executive Officer of Burgan Bank, said: “The capital increase is a proactive step that will reinforce our ability to execute our strategy from a position of financial strength. It provides us with greater flexibility to invest in our core activities, continue driving our strategic priorities, and selectively seize promising opportunities, thereby supporting our long-term sustainable growth trajectory.”

He further noted: “While focusing on disciplined growth and prudent risk management, we will continue to direct capital toward areas that offer the highest potential to support our activities, enhance our services to customers, and achieve sustainable value for our shareholders.”

**Subscription Open Until September 14, 2026**

The subscription for rights shares will remain open until 1:00 PM Kuwait time on Monday, September 14, 2026. Concurrently, rights will be tradable on the Kuwait Stock Exchange during official trading hours until Monday, September 7, 2026.

Eligible shareholders and rights holders can complete subscription procedures via the electronic platform of the Kuwait Clearing Company (KCC) through the website ([www.ipo.com.kw](http://www.ipo.com.kw)) or the (IPO Kuwait) smartphone application.

For full details of the offering, including the disclosure prospectus and frequently asked questions, investors are invited to visit the Investor Relations section on Burgan Bank’s website or download the “Burgan Bank Investor Relations” application, as well as the relevant sections on the websites of KAMCO Invest and the Kuwait Clearing Company.

For investor relations inquiries, shareholders and investors may contact the Burgan Bank Investor Relations team via email ([investor.relations@burganbank.com](mailto:investor.relations@burganbank.com)) or by phone at +965 2298 8654 / +965 2298 8479.

For inquiries specifically related to the capital increase, please contact KAMCO Invest via email ([info@kamco.com.kw](mailto:info@kamco.com.kw)) or by phone at +965 2233 6791 / +965 2233 6968.

Investors are advised to carefully review the disclosure prospectus and the risk factors contained therein before making any investment decision. The prospectus contains all terms and conditions of the issuance and serves as the authoritative reference for all information related to the rights shares. For technical support regarding the subscription process, please contact the Kuwait Clearing Company using the contact details available on the subscription platform.