Rabigh Refining and Petrochemical Co. (“Petro Rabigh” or “the Company” ) announces the decrease of its accumulated losses to 14.77% of the Share Capital

Element List	Explanation
Introduction	With reference to the announcement dated March 30, 2026 (11/10/1447H) regarding Petro Rabigh’s announcement for the results of the extraordinary general assembly meeting which included approving the capital decrease, Petro Rabigh is pleased to announce the decrease in its accumulated losses to 14.77% of Share Capital as of March 31, 2026 (12/10/1447H).
Date of accumulated losses decrease	2026-03-31 Corresponding to 1447-10-12
Amount of the Accumulated Losses	Saudi Riyals 2,469 million
Percentage of the Accumulated Losses out of the Capital (%)	14.77 %
Measures Taken by the Company to Decrease Accumulated Losses	(i) The Company decreased its share capital from Saudi Riyals 21,973.65 million to Saudi Riyals 16,710 million pursuant to the shareholders’ approval for such capital decrease in the Extraordinary General Assembly meeting dated March 29, 2026 (10/10/1447H) after obtaining the necessary regulatory approvals. The share capital was decreased by reducing the nominal value of Class A ordinary shares from Saudi Riyals 10 per share to Saudi Riyals 6.85 per share through writing-off Saudi Riyals 5,263.65 million from the Company’s capital to reduce the Company’s accumulated losses.

(ii) The Company reported a net profit for the period ended March 31, 2026 (12/10/1447H) amounting to Saudi Riyals 1,466 million. The net profit was primarily driven by higher refined product pricing during the period, which resulted in an improvement in product margins, supported by improved plant reliability and operational performance, which enabled higher volumes across both refined and petrochemical products. In addition, lower finance charges provided an additional positive impact on the Company’s financial results. The reduction in finance charges was mainly attributable to the early prepayment of long-term borrowings in prior periods, regular periodic debt repayments, and a decline in benchmark interest rates. The external auditor’s report clarifying the financial position of the company Additional Information With reference to the attached agreed upon procedures report issued by Petro Rabigh’s External Auditor regarding the Company’s accumulated losses amounting to Saudi Riyals 2,469 million, representing 14.77% of its share capital as of March 31, 2026, the Company reduced its share capital from Saudi Riyals 21,973.65 million to Saudi Riyals 16,710 million, primarily through a capital reduction as stated in item (i) above, and recorded a net profit for the period ended March 31, 2026 (corresponding to 12/10/1447H) amounting to SAR 1,466 million.

Further to the completion of the share capital decrease and considering the positive financial results for the quarter ended March 31, 2026, the Company’s accumulated losses have been reduced to less than 20% of its Share Capital.

Accordingly, and pursuant to Article 132 of the Companies Law and Article (3)(d) of the Procedures and Instructions issued by the Capital Market Authority, the requirements applicable to listed companies whose accumulated losses reach 20% or more of their share capital are no longer applicable to the Company.

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.