BECO Steel : Certified Resolution passed by Shareholders

July 11, 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building, Stock Exchange Road,

Karachi

CERTIFIED COPY OF ORDINARY AND SPECIAL RESOLUTIONS PASSED BY THE

SHAREHOLDERS

Dear Sir,

Pursuant to the provision of Regulation No. 5.6.9(b) of the Rule Book of Pakistan Stock Exchange Limited "PSX", please find enclosed herewith certified copies of Ordinary Resolutions passed by the shareholders in their meeting held on July 10, 2023 for your record.

You may please inform the TRC Certificate Holders of the Exchange accordingly.

Thanking you,

Yours faithfully,

For BECO STEEL LIMITED

Company Secretary

Encl: As Above

Copy to:

The Executive Director

Corporate Supervision Department

Company Law Division

Securities and Exchange Commission of Pakistan

NIC Building, 63-Jinnah Avenue, Blue Area, Islamabad

ORDINARY BUSINESS

1. To confirm the minutes of the Annual General Meeting held on October 28, 2022. Last Meeting Minutes confirmed by the shareholders.

SPECIAL BUSINESS

1. To consider and, if thought fit, to pass, with or without modification, the following resolution as a Special Resolution as recommended by the Board of Directors:
   RESOLVED THAT pursuant to the provisions of section 246 of the Companies Act, 2017 (including any amendments thereto or re-enactment thereof) (the "Act") and other applicable provisions of the Companies Act, 2017 and subject to the approval of shareholders and other necessary permissions, approvals, consents, as may be required, consents and permissions which may be agreed by the Board of Directors, the approval of the members of the Company be and is hereby accorded for removal of M/s Tariq Abdul Ghani Maqbool & Co. Chartered Accountants before expiry of the term, from the position of Statutory Auditors of the Company, and in his place Board be and is hereby appointed M/s Sheikh & Chaudhary, Chartered Accountants as new Auditor of the Company and fixed the remuneration of Rs. 1,000,000/- including Half Yearly review. Out-of-pocket expenses are not included and will be reimbursed on actual basis.
   RESOLVED FURTHER THAT Mr. Muhammad Ali Shafique, Managing Director and Company Secretary of the Company, be and are hereby severally authorized to file necessary documents, to represent before any SECP/Regulatory authorities on behalf of the Company, reply to the queries raised, and to do all such acts, deeds, things, matters and take all such steps as may be deemed necessary.
2. To consider and if deemed fit, to pass the following resolution to circulate the annual audited financial statements/annual report to the members of the Company through QR enabled code and weblink instead of circulation of CD/DVD/USB/Hard copies of said audited financial statements/annual report of the Company, with or without, addition(s) or deletion(s) as recommended by the Board of Directors:
   "RESOLVED THAT approval of members of Beco Steel Limited (the "Company") be and is accorded that the Company may circulate its annual report including annual audited financial statements, auditor's report, Directors' report, Chairman review report and other reports contained therein to the Members of the Company through QR enabled code and weblink replacing the distribution of CD/DVD/USB/Hard copies of said audited financial statements/annual report of the Company."

Company Secretary

Certified to be true copy

Beco Steel Limited