SIB Rights Issue Attracts over AED 8.3 billion, Oversubscribed by 3.2 times

Reflecting the Resilience of the UAE Economy and the Confidence in the Bank

Sharjah, May 2026: Sharjah Islamic Bank PJSC (“SIB” or the “Bank”) today announced the successful completion of its AED2.59 billion rights issue, following the close of the subscription period on 8 May 2026. Executed against an exceptionally challenging and volatile market backdrop, the transaction marks a decisive milestone for SIB, significantly strengthening its capital position and accelerating its capacity to deliver sustainable growth and long-term value creation for shareholders.

The rights issue achieved exceptional demand, with the total subscriptions exceeding AED 8.3 billion, resulting in oversubscription by more than 3.2 times. The strong participation from local, regional and international investors reflects the high level of confidence in SIB’s financial strength, growth strategy and long-term outlook, despite heightened global market volatility and ongoing geopolitical uncertainties affecting international financial markets.

The transaction also underscores continued investor confidence in the resilience of the UAE economy, the strength and stability of the UAE banking sector, and the country’s position as a leading regional and international financial hub.

The Government of Sharjah, SIB’s major shareholder, subscribed in full to its proportional entitlement, reaffirming its continued support for the Bank and confidence in its future strategy. Excluding the Government’s participation, the remaining shares were significantly oversubscribed more than 4.5 times by other investors and shareholders, demonstrating broad-based demand and strong market appetite for the Bank’s shares. Foreign investors represented around 55% of the overall demand, reinforcing SIB’s growth relevance to international investors and reflecting the strength of global participation in the rights issue.

This landmark transaction is the 2nd largest rights issue over the past 20 years on the Abu Dhabi Securities Exchange (ADX). It underscores SIB’s ability to execute at scale and further reinforces the Bank’s position among the UAE’s leading financial institutions, with a strengthened platform to capture future opportunities across priority growth segments.

1. E. Abdulrahman Alowais, Chairman of SIB said: “We sincerely thank our shareholders and investors for their overwhelming support and confidence in SIB through this landmark rights issue. Achieving this exceptional level of demand under the current global market environment reflects the strength of SIB’s fundamentals, the resilience of our business model and the trust investors place in our long-term strategy and disciplined execution.

He added: “The strong participation from local, regional and international investors also highlights the continued confidence in the resilience of the UAE economy and the stability of its financial and regulatory environment. The UAE continues to strengthen its position as an attractive destination for investment and sustainable economic growth. This successful capital raise further strengthens SIB’s capital base and enhances our ability to support future growth opportunities while continuing to create sustainable value for our shareholders, customers and the wider economy.”

H.E. Mohamed Abdalla, CEO of SIB said: “The successful completion of this rights issue is a defining achievement for SIB and a strong validation of investor confidence in our performance, discipline and direction, especially in a market environment where access to capital has been highly selective. The additional capital meaningfully strengthens our ability to execute on our strategic priorities, support our customers and communities, and invest in future-ready growth, while enhancing our capacity to deliver attractive, sustainable returns over the long term. We thank our shareholders, partners and advisers for their commitment in completing this transaction, and we express our sincere appreciation to Emirates NBD Capital for its invaluable support, strategic advice and marketing insights throughout the process.”

Emirates NBD Capital PSC acted as Lead Manager. Emirates NBD Bank PJSC (“ENBD”) acted as the Lead Receiving Bank, with SIB acting as the Receiving Bank.