Further announcement from Methanol Chemicals Co. regarding the obtaining of Shariah-compliant Murabaha Loans to finance the Methanol plant expansion project and settle all the existing loans

Element List	Explanation
Introduction	Further to its announcement on Tadawul on 13/07/2022 regarding the obtaining of Shariah-compliant Murabaha Loans to finance the Methanol plant expansion project and settle all the existing loans, Methanol Chemicals Co. would like to announce that it has paid off all the previous loans amounting to SAR 400 Million. Such repayment will contribute to the reduction of the financial costs considering the fact that the mentioned loan was obtained at competitive costs and terms.

Element List

Explanation

Introduction

Further to its announcement on Tadawul on 13/07/2022 regarding the obtaining of Shariah-compliant Murabaha Loans to finance the Methanol plant expansion project and settle all the existing loans, Methanol Chemicals Co. would like to announce that it has paid off all the previous loans amounting to SAR 400 Million. Such repayment will contribute to the reduction of the financial costs considering the fact that the mentioned loan was obtained at competitive costs and terms.

It is expected that there would be a positive financial impact on the Company during the next coming years as a result of the significantly reduced financial costs compared to the previous loans. Date of Posting the Previous Announcement of Development on Tadawul's Website 2022-07-13 Corresponding to 1443-12-14 Hyperlink to the Previous Announcement Click Here Change on the Development A paid off all the previous loans amounting to SAR 400 Million Financial Impact on the change There will be positive impact over the coming years, but could not be identified due to the changing reference price of the Saudi interbank lending cost rate from time to time. Additional Information None

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