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AL MAZAYA HOLDING COMPANY K.S.C.P. AND ITS SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
SEPTEMBER 30, 2023
(All amounts are in Kuwaiti Dinars)

Transactions included in the interim condensed consolidated statement of profit or loss:

For the nine months ended
Key September 30,
management
personnel 2023 2022
Rental income 6,462 6,462 6,462
Amortization of finance costs related to lease liabilities (245,051) (245,051) (126,501)

a) During the period ended September 30, 2023, a property leased by the Group which is accounted for under IFRS
16 has been acquired by a board member from its previous owner. Based on that, the Group’s lease liability towards
that property had been reassigned towards the new owner under the same terms and conditions of the original
contractual lease terms with the old owner for the remaining lease term which ends on October 2037.

The amounts related to above total lease liabilities as of September 30,2023 reported under lease liabilities of the Group
can be presented as follows
For the nine months ended September 30
2023 2022
Lease liability within one year 909,000 540,000
Remaining liability till end of lease term 7,515,000 3,348,000
Total lease liability 8,424,000 3,888,000
Less: Unamortized future finance charge (1,884,900) (593,641)
Present value of minimum lease payments 6,539,100 3,294,359

Compensation to key management personnel:

For the three months ended For the nine months ended
September 30, September 30,
2023 2022 2023 2022
Short term benefits 126,090 143,698 378,269 431,093
End of service indemnity 11,832 15,225 35,496 45,675
137,922 158,923 413,765 476,768

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