First Milling Co. Announces an update on First Milling Co. Announces the upgrade of two flour milling units A&B in its plant in Jeddah city

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Introduction	With reference to First Milling Company’s ("the Company" or "First Mills") announcement on 01/08/2023G (Corresponding to 14/01/1445H) regarding the contract signed with Bühler AG to purchase two new flour mills and upgrade the capacity of Mill – A and Mill – B at its largest plant in Jeddah, First Milling Company is pleased to announce the recent development in completing successfully the upgrade and modernization of its Mill – A as planned.

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Explanation

Introduction

With reference to First Milling Company’s ("the Company" or "First Mills") announcement on 01/08/2023G (Corresponding to 14/01/1445H) regarding the contract signed with Bühler AG to purchase two new flour mills and upgrade the capacity of Mill – A and Mill – B at its largest plant in Jeddah, First Milling Company is pleased to announce the recent development in completing successfully the upgrade and modernization of its Mill – A as planned.

This expansion increased Mill–A’s production capacity from 300 tons/day to 550 tons/day, raising the Jeddah Plant’s overall milling production capacity to 3,050 tons/day.

On the Other hand, and in line with First Mills’ strategic growth objectives, the Company’s board has approved the revised modernization plan for Mill – B which was planned to be completed by the end of the year 2025G. First Mills has decided to replace the previously planned upgrade of Mill – B with the purchase of a new flour mill to be installed at the Company’s Qassim plant as a new flour milling unit (Mill – C) that will have a new production capacity of 600 tons/day.

This expansion is a direct outcome of the Company’s initiative to enhance its production capacity and solidify its leading position in the market. The change will enable the Company to better meet the growing demand, expanding its geographical reach, catering to new clients, and delivering the best value to its shareholders.

The Company will also announce any significant developments in this regard in due course. Previous Announcement First Milling Co. Announces the upgrade of two flour milling units A&B in its plant in Jeddah city Date of Previous Announcement on Saudi Exchange’s Website 2023-08-01 Corresponding to 1445-01-14 Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here Latest Developments Of The Announced Event The Completion and commencement of operations at Mill – A in the Jeddah Plant, achieving the planned expansion of production capacity, as well as a revision of Mill – B modernization plans to be replaced with a purchase of a new flour mill for the Company’s Qassim plant (Mill – C). Reasons For The Delay on The Date of The Event Previously Announced Not applicable The costs associated with the event, and if they have changed or not with indication of the reasons. The financial effects of the Mill – A expansion is anticipated to be reflected in the Company’s financial performance for the fourth quarter of 2024G. For any material developments in regards the New Mill, the Company will announce it in due course. Delay consequences on the Company’s financial results Not applicable

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