Saudi Arabian Mining Company (Ma'aden) Announces an Update on the Latest Developments Regarding the Developing its Third Project for the Manufacture of Phosphate Fertilizers.

Element List	Explanation
Introduction	Further to the announcement published by the Saudi Arabian Mining Company (“Ma’aden”) on the Saudi Exchange (Tadawul) on 01/03/1438H (corresponding to 30/11/2016G) in relation to the developing its third project for the manufacture of phosphate fertilizers
Previous Announcement	Saudi Arabian Mining Company (Maaden) announces that it is developing its third project for the manufacture of phosphate fertilizers.
Date of Previous Announcement on Saudi Exchange’s Website	2016-11-30 Corresponding to 1438-03-01
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	Maaden would like to announce the signing of a number of contracts related to the development of the third phosphate fertilizer manufacturing, the most important of which are the following:

1- General construction works at Ras Al Khair with China National Chemical Engineering Company branch for an amount of approximately $325 million (equivalent to approximately 1,220 million SAR)

2- General construction works at Wa'ad Al Shamal (SAP/PAP & OSBL) with branch of Sinopec Nanjing Engineering & Construction Inc. for an amount of approximately $363 million (equivalent to approximately 1,361 million SAR)

3- General construction works at Wa'ad Al Shamal (Benefitiation) with Tekfen Construction and Installation Co., Inc for an amount of approximately $234 million (equivalent to approximately 877 million SAR) Reasons For The Delay on The Date of The Event Previously Announced Not Applicable The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable. Delay consequences on the Company’s financial results Not Applicable

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