Astra Industrial Group (Astra) announces an update on its announcement that one of its subsidiaries, Al Tanmiya for Steel Industries (Al Tanmiya), signed a conditional agreement for exiting its investment in Alanmaa For Construction Materials Production Ltd. (Alanmaa)

Element List	Explanation
Introduction	With reference to Astra Industrial Group announcement on 08/02/2022 G )corresponding to 07/07/1443 H) related to one of its subsidiaries, Al Tanmiya For Steel Industries (Al Tanmiya) owned 65% by the group, a conditional agreement on 07/02/2022 G (corresponding to 06/07/1443 H) with Al-Ghad Al-Mutakamel Company for General Trading, Iron, Steel and Metal Industries for exiting its investment in Alanmaa Company for General Construction Materials Industry Limited (Alanmaa Company), which owns steel and power plants in Iraq, we would like to inform the public of the completion of this transaction, as all of the previously announced conditions precedent were met on 24/04/2022
Previous Announcement	Astra Industrial group announces that one of its subsidiaries (Al Tanmiya) signed a conditional agreement for exiting its investment in Alanmaa
Date of Previous Announcement on Tadawul's Website	2022-02-08 Corresponding to 1443-07-07
Percentage of fulfilled achievement	The transaction was completed and all the following conditions precedent were met:

1) Regulatory approvals required to conclude the transaction in Iraq have been obtained.

2) The buyer secured needed funding from Iraqi banks.

3) Al Tanmiya loans to Alanmaa were settled.

4) Al Tanmiya received the shares’ sale proceeds.

5) Regulatory agency in Iraq registered the shares in the name of the buyer.

The financial impact of the transaction on the group will be determined after completing the accounting treatment and calculating the expenses and taxes imposed on the sale process by the relevant authorities, as the transaction is subject to accounting standards and regulatory authorities in Saudi Arabia, Iraq and Jordan. It is expected that this task will be completed within 6 months. Event's Expected Completion Date 24/04/2022 Reasons for Exceeding the Announced End Date N/A The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Impact of the Delay on the Company's Financial Results N/A

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