Agility Public Warehousing Company KSCP announced today that an international 
arbitration tribunal constituted under the auspices of the World Bank's 
International Centre for Settlement of Investment Disputes (ICSID) has 
determined that it has jurisdiction over claims arising since the Kuwait-Iraq 
BIT entered into force. We look forward to now having those claims determined 
on the merits.

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Agility alleges that the Iraqi government denied Agility and its subsidiaries 
the ability to challenge the improper decision of the Communications & Media 
Commission (CMC) to annul its investment in Korek Telecom and that the 
government then illegally implemented the CMC's decision by ordering the 
transfer of shares acquired by Agility and its co-investors back to the 
original Iraqi shareholders in March 2019 without returning Agility's original 
investment.

"We are pleased with the ICSID tribunal's decision," said Tarek Sultan, Vice 
Chairman and CEO. "The ruling upholds protections to which Agility is entitled 
and the Republic of Iraq's actions will now be scrutinized under international 
law."

In February 2017, the Agility Group filed a request for arbitration against the 
Republic of Iraq pursuant to the Convention on the Settlement of Investment 
Disputes between States and Nationals of Other States and the Agreement between 
the Government of the State of Kuwait and the Government of the Republic of 
Iraq for Reciprocal Promotion and Protection of Investments. 

Over the years, Agility invested over US$380 million and significant management 
and technical expertise and know how to develop Korek Telecom into a successful 
business.

About Agility

Agility is a global logistics company with $5.1 billion in annual revenue and 
26,000+ employees in more than 100 countries. It is one of the world's top 
freight forwarding and contract logistics providers, and a leader and investor 
in technology to enhance supply chain efficiency. Agility is a pioneer in 
emerging markets and one of the largest private owners and developers of 
warehousing and light industrial parks in the Middle East, Africa and Asia. 
Agility's subsidiary companies offer fuel logistics, airport services, 
commercial real estate and facilities management, customs digitization, and 
remote infrastructure services.  

SOURCE:  Agility Public Warehousing Company KSCP

CONTACT: Graham Miller
         Sphere Consulting (for Agility)
         graham@sphereconsulting.com 
         +1-(202)-862-5522