Emaar, the Economic City Announces updates on the Company’s Capital Reduction File with CMA

Element List	Explanation
Introduction	With reference to Emaar, the Economic City’s (the “Company”) announcement on 19 Rabi Alawwal 1446H corresponding to 22 September 2024G on the Saudi Exchange (Tadawul) website of its submission of the application file to the Capital Market Authority (“CMA”) for obtaining its approval on the Company's capital reduction, and the announcement of the Board of Directors’ resolution to amend its recommendation to reduce the Company’s capital on 04 Rabi’ al-Thani 1446H corresponding to 27 October 2024, the Company would like to announce to its esteemed shareholders the issuance of the CMA’s decision dated 03 Jumada Alakhirah 1446H corresponding to 04 December 2024G approving the Company’s application to reduce its capital as per the details mentioned below.
Date of Announcing the Application on Saudi Exchange’s Website	2024-09-22 Corresponding to 1446-03-19
Date of Submitting the File	2024-09-20 Corresponding to 1446-03-17
Application Status at CMA	The CMA issued on 03 Jumada Alakhirah 1446H corresponding to 04 December 2024G, its approval on the Company’s application to reduce its Capital from (11,333,333,340) Saudi Riyals to (5,232,599,090) Saudi Riyals by reducing the number of shares from (1,133,333,334) ordinary shares to (523,259,909) ordinary shares by way of canceling (610,073,425) ordinary shares. This represents a reduction rate of approximately %53.83. The date of the capital reduction will be as of the end of the second trading day after the Company’s Extraordinary General Assembly Meeting (“EGM”) in which the capital reduction will be approved.

It should be noted that the capital decrease is subject to EGM approval of the capital reduction and the completion of relevant regulatory requirements. Other Substantial Updates The CMA issued its approval after the Company fulfilled the CMA's regulatory requirements and comments relating to the capital reduction application file. The Company will take necessary actions including the publication of the Shareholders' Circular which includes the proposed method of reducing the capital and the expected effects of that capital reduction, so that the shareholders can vote on the capital reduction resolution.

In addition, the Company will call for an EGM, the date of which will be announced later. Additional Information The Company will announce any future developments regarding this matter as required by law.

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.