Methanol Chemicals Company announces an update on the Application File of Capital Increase by way of Rights Issue submitted to the Capital Market Authority

Element List	Explanation
Introduction	With reference to the Methanol Chemicals Company’s Application File submitted to the Capital Market Authority on 27/02/1443 H. corresponding to 04/10/2021 to increase its capital by way of Rights Issue, the Board of Directors of the Company decided on Wednesday, February 09, 2022, to withdraw the file due to the noticeable improvement in the Company’s financial position and in view of the recent positive changes in the global markets.

Element List

Explanation

Introduction

With reference to the Methanol Chemicals Company’s Application File submitted to the Capital Market Authority on 27/02/1443 H. corresponding to 04/10/2021 to increase its capital by way of Rights Issue, the Board of Directors of the Company decided on Wednesday, February 09, 2022, to withdraw the file due to the noticeable improvement in the Company’s financial position and in view of the recent positive changes in the global markets.

The Company will announce any relevant material developments in due course Previous Announcement Methanol Chemicals Company announces the submission of the application for increase of the Company’s Capital by offering Right Issues to the CMA Date of Previous Announcement on Tadawul's Website 2021-10-05 Corresponding to 1443-02-28 Percentage of fulfilled achievement N/A Event's Expected Completion Date N/A 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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