Page 40 - JTC-Annual Report-2025-Eng

INDEPENDENT AUDITOR’S REPORT (continued)

Report on Other Legal and Regulatory Requirements

Furthermore, in our opinion, proper books of account have been kept by the Parent Company
and the consolidated financial statements, together with the contents of the report of the
Parent Company’s Board of Directors relating to these consolidated financial statements, are in
accordance therewith. We further report that, we obtained all the information and explanations
that we required for the purpose of our audit and that the consolidated financial statements
incorporate all information that is required by the Companies Law No. 1 of 2016 and its Executive
Regulations, as amended, and by the Parent Company’s Memorandum of Incorporation and
Articles of Association, as amended, that an inventory was duly carried out and that, to the best
of our knowledge and belief, no violations of the Companies Law No. 1 of 2016 and its Executive
Regulations, as amended, or of the Parent Company’s Memorandum of Incorporation and Articles
of Association, as amended, have occurred during the financial year ended December 31, 2025
that might have had a material effect on the business of the Parent Company or on its financial
position.
We further report that, during the course of our audit and to the best of our knowledge and
belief, we have not become aware of any material violations of the provisions of Law 7 of 2010,
concerning the Capital Markets Authority and Organization of Security Activity, its amendments
and Executive Regulations during the financial year ended December 31, 2025 that might have
had a material effect on the business of the Parent Company or on its financial position.

State of Kuwait Nayef M. Al Bazie
February 16, 2026 Licence No. 91-A

RSM Albazie & Co.

39 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.