Morning Brief june 06th, 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | HPS | AMMC approved the capital increase by exercising subscription options
AMMC approved, on June 5th 2023, the prospectus related to the capital increase of HPS by exercising subscription options, reserved for eligible employees and consultants of HPS and the Group's subsidiaries. The main characteristics of the operation are as follows:
- Maximum transaction amount (issue premium included): MAD 55,530,000;
- Maximum number of new shares to be issued: 37,020 shares;
- Issue price: MAD 1,500;
- Par value: MAD 100;
- Entitlement date: January 1st 2023;
- Subscription period: from June 16th to July 12th 2023 at 3:30 p.m. included.

ECONOMIC HEADLINES
| MOROCCO | GDP | A growth rate of 1.3% in 2022
According to HCP, the growth rate of the Moroccan economy stood at 1.3% in 2022 against 8.0% a year earlier. This results from a 12.9% drop in crop activities and a 3.0% increase in non-crop activities.

| TUNISIA | INFLATION | An inflation rate of 9.6% in May 2023
According to Tunisia’s National Institute of Statistics (INS), Consumer Prices Index increased by 0.5% in May 2023 compared to the previous month. Year-on-year, the inflation rate stood at 9.6% against 10.1% in April 2023.

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