Saudi Ceramic Co. Announces an update on the signing of a memorandum of understanding with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP)

Element List	Explanation
Introduction	Referring to the company’s announcement on the Tadawul website dated April 16, 2023, regarding the signing of a non-binding letter of intent with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group, and the subsequent announcements on the Tadawul website dated October 8, 2023, regarding announcing the signing of a preliminary non-binding agreement to study incorporate a joint venture based in the Kingdom of Saudi Arabia, equally owned by both parties, specialized in the manufacture and sale of sanitary ware and its complementary parts, and what was announced on March 17, 2024, regarding period extension of the preliminary non-binding agreement signed on October 8, 2023 until the end of the current year, December 31, 2024.

Element List

Explanation

Introduction

Referring to the company’s announcement on the Tadawul website dated April 16, 2023, regarding the signing of a non-binding letter of intent with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group, and the subsequent announcements on the Tadawul website dated October 8, 2023, regarding announcing the signing of a preliminary non-binding agreement to study incorporate a joint venture based in the Kingdom of Saudi Arabia, equally owned by both parties, specialized in the manufacture and sale of sanitary ware and its complementary parts, and what was announced on March 17, 2024, regarding period extension of the preliminary non-binding agreement signed on October 8, 2023 until the end of the current year, December 31, 2024.

The company announces receiving a letter from Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group, stating its desire to not continu studying incorporate of a joint venture (company) based in the Kingdom of Saudi Arabia, Previous Announcement Saudi Ceramics Co. announces the signing of a memorandum of understanding with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP) Date of Previous Announcement on Saudi Exchange’s Website 2024-04-16 Corresponding to 1445-10-07 Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here Latest Developments Of The Announced Event On 11 October 2024, Saudi Ceramics Company has received a letter from Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group, stating its desire to not complete the process of studying incorporate of a joint venture (company) based in the Kingdom of Saudi Arabia, equally owned by both parties, specialized in the manufacture and sale of sanitary ware and its complementary parts, due to diminished visibility in the region and the ongoing construction industry slowdown in the European and Turkish market, However, the two parties will continue studying future common cooperation opportunities in all aspects related to joint commercial activities between the two companies in sanitary ware production. Reasons For The Delay on The Date of The Event Previously Announced N/A The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Delay consequences on the Company’s financial results There is no significant financial impact in company operation Additional Information None

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