Saudi Industrial Services Co. Announces Its Intention to Purchase its Shares

Element List	Explanation
Introduction	Saudi Industrial Services Co. (“SISCO”) announces the Board of Directors' resolution to recommend to the Extraordinary General Assembly to approve the purchase of up to 10% of the Company's ordinary shares, and to hold them as Treasury Shares.
Board Approval's Date	2022-08-20 Corresponding to 1444-01-22
Purpose of Purchase	For the purchased shares to be held as Treasury Shares.
Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares)	If the Board of Directors or its authorized representative finds that the share price in the market is less than its fair value
Number of Shares to be Bought	8160000
Shares Class	Ordinary Shares.
Method of Financing the Purchasing Process	The Company’s available internal cash resources.
Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased	The Company currently holds no Treasury Shares.
Approvals and Meeting the Conditions of Financial Appropriateness	Voting on the Board of Directors resolution will take place during an Extraordinary General Assembly meeting, which will be announced at a later date as per the Regulatory Rules and Procedures issued pursuant to the Saudi Companies Law relating to Listed Joint Stock Companies (article no. 12/4).

The Company must obtain approval from the Extraordinary General Assembly for the purchase to commence.

The Company will also submit a solvency report formulated by an Auditor, as per the Saudi Companies Law relating to Listed Joint Stock Companies (article no. 12/3).

The Company is committed to fulfilling all requirements mentioned in the Regulatory Rules and Procedures issued pursuant to the Saudi Companies Law relating to Listed Joint Stock Companies. Voting Right The purchased shares will not have voting rights in the General Assembly’s Meetings.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.