Emaar, The Economic City Announces the Signing of a Non-binding Term Sheet for the rescheduling of its Commercial Bank Facilities Under a New Common Terms Arrangement

Element List	Explanation
Introduction	Emaar, The Economic City (the “Company”) announces the signing of a non-binding term sheet on 04 Rabi Alawwal 1446H (corresponding to 07 September 2024G) to reschedule its financing agreements with Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and The Saudi National Bank (together, the “Banks”), for the purpose of agreeing a rescheduling and amendment of the terms of such financings under one common terms arrangement. As part of the rescheduling, a new credit facility would be made available to the Company by the Banks (the “Additional Facility”).

Element List

Explanation

Introduction

Emaar, The Economic City (the “Company”) announces the signing of a non-binding term sheet on 04 Rabi Alawwal 1446H (corresponding to 07 September 2024G) to reschedule its financing agreements with Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and The Saudi National Bank (together, the “Banks”), for the purpose of agreeing a rescheduling and amendment of the terms of such financings under one common terms arrangement. As part of the rescheduling, a new credit facility would be made available to the Company by the Banks (the “Additional Facility”).

The term sheet (including the terms in respect of the Additional Facility) is not binding. The term sheet sets out the main provisions initially agreed, but is subject to agreeing and signing final legally binding agreements to be entered into between the Company and the Banks, and also subject to the Banks and the Company obtaining final internal approvals. Memorandum Signing Date 2024-09-07 Corresponding to 1446-03-04 Counterparty Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and The Saudi National Bank. Memorandum Subject Pursuant to the term sheet, the Company and the Banks agreed (initially and on a non-binding manner) to reschedule all amounts due to the Banks from the Company, currently standing at approximately SAR (3,471) million, under one new common terms agreement, including a repayment schedule, and key provisions and security and other standard provisions.

Further, as part of the rescheduling, the Company and the Banks agreed the main terms of the Additional Facility, under which the commitment will be approximately SAR (301.4) million.

The Company will announce material developments in due course including the entry into the final legally binding agreements with the Banks and the details thereof. Memorandum Duration Not applicable, as it is subject to finalisation of approvals and entry into legally binding agreements. Related Parties The Saudi National Bank is a related party pursuant to the rules of the Capital Market Authority, given that it is controlled by a substantial shareholder of the Company (the Public Investment Fund). Financial Impact There is no current financial impact given that the term sheet is not binding. Additional Information This comes as a part of the overall capital optimization plan that the Company launched, and to enhance its ability to move forward with its growth plans. Material developments will be announced as they occur.

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.