Rabigh Refining and Petrochemical Company (“Petro Rabigh” or the “Company”) announces the recent developments in relation to the Fuel Oil Upgrade Project

Element List	Explanation
Introduction	With reference to Rabigh Refining and Petrochemical Company (“Petro Rabigh” or the “Company”) announcement on the Saudi Exchange website on 22/06/1440H (corresponding to 27/02/2019G) regarding the launch of preliminary studies for the Fuel Oil Upgrade Project and subsequent developments to that, the Company would like to announce that the Board of Directors, at its meeting held on Oct 14, 2025 has approved the proceeding with the execution of the engineering works for the Low-Value Fuel Oil Upgrade Project.
Previous Announcement	Addendum announcement from Rabigh Refining and Petrochemical Company regarding the fuel oil development project
Date of Previous Announcement on Saudi Exchange’s Website	2019-02-27 Corresponding to 1440-06-22
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The Company would like to announce that the Board of Directors, at its meeting held on Oct 14, 2025 has approved proceeding with the execution of the engineering works (FEED) for the Fuel Oil Upgrade Project.

The project aims to construct two integrated units for upgrading fuel oil and treating diesel, in addition to supporting facilities, with a total processing capacity of approximately 64,000 barrels per day of base fuel oil.

The Company is currently in the process of awarding the engineering contract to one of the specialized firms to carry out the detailed technical studies and determine the optimal options for implementing the project.

Any material developments will be announced in due course upon completion of the engineering works and once a final investment decision is made regarding the project. 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. There is no material financial impact at this stage, and the financial impact will be determined at a later stage once the final investment decision is made and the project is executed. Delay consequences on the Company’s financial results Not applicable.

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.