4150 · 25/08/2024 15:51:38 · Announcement #82232 · View on Saudi Exchange

Riyadh Development Company announces signing an agreement with Riyadh Holding Company

Element List	Explanation
Introduction	With reference to the approval of the General Assembly of the Company, which was held on Thursday, 08-15-2024, on the business and contracts between Riyadh Development Company and Riyadh Holding Company, in which the following parties have an indirect interest:

- His Highness Prince Faisal bin Abdulaziz bin Ayyaf, PhD, in his capacity as Chairman of the Board of Directors of Riyadh Development Company and Chairman of the Board of Directors of Riyadh Holding Company.

- Mr. Fahad Abdullah AlKassim, in his capacity as a Member of the Board of Directors of Riyadh Development Company, member of the Executive Committee of Riyadh Holding

-Mr. Abdullah bin Muhammad Al-Bahouth, in his capacity as a member of the Board of Directors of Riyadh Development Company (representing the General Organization for Social Insurance), which has ownership in Riyadh Holding Company.

Regarding the establishment of a simplified joint-stock company between Riyadh Development Company and Riyadh Holding Company for the development of Al Dira area, where Riyadh Development Company's share is 46.34% in the new entity through an in-kind contribution to Al-Taamir Wholesale Commercial Center

This agreement comes in accordance with the company's strategy and its orientation to establish supportive partnerships that enable it to achieve financial sustainability and raise efficiency in operational activities and real estate management. The agreement also aims to create investment opportunities that contribute to improving the return on the asset portfolio and entering qualitative partnerships that contribute to maximizing the total return for shareholders and allows for focusing on real estate development and property management operations. Date of Announcement of the Award 2024-08-25 Corresponding to 1446-02-21 Contract Subject Matter Riyadh Development Company announces the signing of an agreement with Riyadh Holding Company to establish an entity that owns the assets and plays the role of the main developer and operator of the markets in the Qasr Al-Hukm area. The Entity with Which the Contract was Signed Riyadh Holding Company Date of Signing the Contract 2024-08-25 Corresponding to 1446-02-21 Contract Value The total assets Value is 1,521,815,000 SAR Contract Details This partnership seeks to establish an entity that owns the assets and plays the role of the developer and main operator of the markets of Qasr Al-Hukm area, by benefiting from the experience of the two companies in establishing, managing and developing commercial and service real estate projects. These assets are located on the lands owned by the two companies in the center of Riyadh, which include Al-Taamir Markets, Al-Muaiqiliyah Center and Al-Dira Markets. The in-kind contribution of Riyadh Development Company to Al-Taamir Wholesale Commercial Center represents 46.34% of the partnership, while the contribution of Riyadh Holding Company to Al-Muaiqiliyah Commercial Center and Al-Dira Market is estimated at 53.66% of the partnership. Contract Duration Indefinite duration Financial Impact and the Relevant Period The financial impact will be disclosed later after obtaining the necessary approvals. Related Parties - H. H. Prince Faisal bin Abdulaziz bin Ayyaf, PhD, in his capacity as Chairman of the Board of Directors of Riyadh Development Company and Chairman of the Board of Directors of Riyadh Holding Company.

- Mr. Fahad Abdullah AlKassim, in his capacity as a Member of the Board of Directors of Riyadh Development Company, member of the Executive Committee of Riyadh Holding

-Mr. Abdullah bin Muhammad Al-Bahouth, in his capacity as a member of the Board of Directors of Riyadh Development Company (representing the General Organization for Social Insurance), which has ownership in Riyadh Holding 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.