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Page 2 		2
Titles 		2
INDEX 		2
4 		2
Images 		2
Image 1 		2
Page 3 		3
Titles 		3
Deloitte. 		3
Deloitte & Touche 		3
AL-WAHA 		3
ALI OWAID RUKHEYES 		3
Management's Responsibility for the Consolidated Financial Statements 		3
Auditors'Responsibility 		3
Opinion 		3
Images 		3
Image 1 		3
Page 4 		4
Titles 		4
Deloitte~ 		4
AL-WAHA 		4
ALI aWAID RUKHEYES 		4
Images 		4
Image 1 		4
Image 2 		4
Image 3 		4
Page 5 		5
Titles 		5
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		5
KD 		5
KD 		5
KD 		5
Images 		5
Image 1 		5
Image 2 		5
Page 6 		6
Titles 		6
AL MAZAY A HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		6
Images 		6
Image 1 		6
Tables 		6
Table 1 		6
Page 7 		7
Titles 		7
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		7
5 		7
Images 		7
Image 1 		7
Tables 		7
Table 1 		7
Page 8 		8
Tables 		8
Table 1 		8
Page 9 		9
Titles 		9
AL MAZAY A HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		9
KD 		9
Images 		9
Image 1 		9
Tables 		9
Table 1 		9
Table 2 		9
Page 10 		10
Titles 		10
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		10
Images 		10
Image 1 		10
Image 2 		10
Tables 		10
Table 1 		10
Table 2 		10
Page 11 		11
Titles 		11
AL MAZA YA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		11
Images 		11
Image 1 		11
Page 12 		12
Images 		12
Image 1 		12
Page 13 		13
Titles 		13
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		13
Images 		13
Image 1 		13
Page 14 		14
Images 		14
Image 1 		14
Image 2 		14
Page 15 		15
Titles 		15
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		15
Images 		15
Image 1 		15
Page 16 		16
Titles 		16
AL MAZA YA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		16
14 		16
Images 		16
Image 1 		16
Page 17 		17
Titles 		17
AL MAZA YA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		17
Images 		17
Image 1 		17
Page 18 		18
Titles 		18
AL MAZA YA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		18
16 		18
Images 		18
Image 1 		18
Page 19 		19
Titles 		19
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		19
17 		19
Images 		19
Image 1 		19
Page 20 		20
Titles 		20
AL MAZA YA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		20
Images 		20
Image 1 		20
Page 21 		21
Titles 		21
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		21
Images 		21
Image 1 		21
Page 22 		22
Titles 		22
AL MAZAY A HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		22
Images 		22
Image 1 		22
Page 23 		23
Titles 		23
AL MAZAY A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		23
Images 		23
Image 1 		23
Tables 		23
Table 1 		23
Table 2 		23
Page 24 		24
Titles 		24
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		24
KD 		24
Images 		24
Image 1 		24
Tables 		24
Table 1 		24
Table 2 		24
Page 25 		25
Tables 		25
Table 1 		25
Page 26 		26
Titles 		26
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		26
Images 		26
Image 1 		26
Page 27 		27
Titles 		27
... 		27
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""' 		27
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Images 		27
Image 1 		27
Image 2 		27
Image 3 		27
Image 4 		27
Image 5 		27
Image 6 		27
Image 7 		27
Image 8 		27
Image 9 		27
Image 10 		27
Image 11 		27
Image 12 		27
Image 13 		27
Image 14 		27
Image 15 		27
Image 16 		27
Image 17 		27
Image 18 		27
Image 19 		27
Image 20 		27
Image 21 		27
Image 22 		27
Image 23 		27
Image 24 		27
Image 25 		27
Image 26 		27
Image 27 		27
Image 28 		27
Image 29 		27
Image 30 		27
Image 31 		27
Image 32 		27
Tables 		27
Table 1 		27
Page 28 		28
Titles 		28
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		28
2011 		28
Images 		28
Image 1 		28
Page 29 		29
Tables 		29
Table 1 		29
Page 30 		30
Tables 		30
Table 1 		30
Page 31 		31
Titles 		31
AL MAZA YA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		31
Images 		31
Image 1 		31
Tables 		31
Table 1 		31
Page 32 		32
Titles 		32
AL MAZAY A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		32
Images 		32
Image 1 		32
Tables 		32
Table 1 		32
Table 2 		32
Table 3 		32
Page 33 		33
Titles 		33
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		33
Images 		33
Image 1 		33
Tables 		33
Table 1 		33
Page 34 		34
Titles 		34
::l 		34
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Image 2 		34
Image 3 		34
Image 4 		34
Image 5 		34
Image 6 		34
Image 7 		34
Image 8 		34
Image 9 		34
Image 10 		34
Image 11 		34
Image 12 		34
Image 13 		34
Image 14 		34
Image 15 		34
Image 16 		34
Image 17 		34
Image 18 		34
Image 19 		34
Page 35 		35
Titles 		35
AL MAZAY A HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		35
Images 		35
Image 1 		35
Tables 		35
Table 1 		35
Table 2 		35
Table 3 		35
Page 36 		36
Titles 		36
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		36
Images 		36
Image 1 		36
Tables 		36
Table 1 		36
Page 37 		37
Titles 		37
.D 		37
8 		37
Cl 		37
Images 		37
Image 1 		37
Image 2 		37
Image 3 		37
Image 4 		37
Image 5 		37
Tables 		37
Table 1 		37
Table 2 		37
Table 3 		37
Table 4 		37
Table 5 		37
Page 38 		38
Titles 		38
00 		38
.5 		38
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Images 		38
Image 1 		38
Image 2 		38
Image 3 		38
Image 4 		38
Image 5 		38
Image 6 		38
Image 7 		38
Image 8 		38
Image 9 		38
Image 10 		38
Image 11 		38
Image 12 		38
Image 13 		38
Image 14 		38
Image 15 		38
Image 16 		38
Image 17 		38
Page 39 		39
Titles 		39
AL MAZA y A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		39
Images 		39
Image 1 		39
Image 2 		39
Tables 		39
Table 1 		39
Table 2 		39
Page 40 		40
Titles 		40
AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES 		40
KD 		40
Images 		40
Image 1 		40
Tables 		40
Table 1 		40
Page 41 		41
Titles 		41
AL MAZAY A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		41
Images 		41
Image 1 		41
Tables 		41
Table 1 		41
Table 2 		41
Table 3 		41
Page 42 		42
Titles 		42
AL MAZA y A HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		42
KD 		42
Images 		42
Image 1 		42
Tables 		42
Table 1 		42
Page 43 		43
Titles 		43
AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES 		43
Images 		43
Image 1 		43
Tables 		43
Table 1 		43
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