Thimar Development Holding Company announces the latest developments regarding the shareholders' request to file a liability lawsuit against the previous board of directors

Element List	Explanation
Introduction	A reference to the company’s announcement on 09/26/2022 AD, which includes the company receiving a request from shareholders who own more than 5% of the company’s capital to file a liability lawsuit against the company’s board of directors in its two previous sessions from 03/06/2017 AD to 07/04/2021 AD and based on The vote of the General Assembly of the company, the result of which was announced on 10/18/2022 AD, which included approval to file a liability lawsuit against the members of the Board of Directors of the company in its two previous sessions. The company took the following actions:

Element List

Explanation

Introduction

A reference to the company’s announcement on 09/26/2022 AD, which includes the company receiving a request from shareholders who own more than 5% of the company’s capital to file a liability lawsuit against the company’s board of directors in its two previous sessions from 03/06/2017 AD to 07/04/2021 AD and based on The vote of the General Assembly of the company, the result of which was announced on 10/18/2022 AD, which included approval to file a liability lawsuit against the members of the Board of Directors of the company in its two previous sessions. The company took the following actions:

1- The company appointed an accounting expert to study the observations and suspicions made by the company's board of directors in its two previous

sessions, who in turn examined the company's accounting and financial records, reviewed the relevant documents and submitted its accounting report

during the said period 2- Accordingly, the company appointed legal advisors to undertake the study of the case in form and substance and to file it at the request of the shareholders, based on the report of the accounting expert.

3- The company registered the complaint with the Capital Market Authority No. 04/12/2161/23 and the date of 03/14/2023 AD against the members of the Board of Directors of Thimar Development Holding Company in the two previous sessions shown above, and it includes a claim for compensation of 230 million riyals and the consequent compensation. litigation.

The company assures its esteemed shareholders that it will not hesitate to take all necessary legal measures to preserve its interests and the rights of its shareholders. Previous Announcement Thimar Development Holding Company announces the results of the Ordinary General Assembly Meeting (First Meeting) Date of Previous Announcement on Tadawul's Website 2022-10-18 Corresponding to 1444-03-22 Percentage of fulfilled achievement N/A Event's Expected Completion Date N/A Reasons for Exceeding the Announced End Date N/A The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Impact of the Delay on the Company's Financial Results N/A Additional Information The company will announce to the shareholders any developments regarding the above

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