Emaar, The Economic City Announces Recent Developments in Relation to the Submission of the Application for the Increase of the Company’s Capital through Debt Conversion to CMA

Element List	Explanation
Introduction	With reference to the announcement made by Emaar, The Economic City (the “Company”) dated 05 Shawwal 1446H (corresponding to 03 April 2025) on the Saudi Exchange’s website regarding the submission of the application file to increase the Company’s capital through converting debt to the Capital Market Authority, in relation to the debt owed to the Public Investment Fund amounting to SAR 4,118,221,464.63; the Company is pleased to announce that it has obtained the Capital Market Authority’s approval on 22 Jumada Al-Awwal 1447H (corresponding to 13 November 2025).

Element List

Explanation

Introduction

With reference to the announcement made by Emaar, The Economic City (the “Company”) dated 05 Shawwal 1446H (corresponding to 03 April 2025) on the Saudi Exchange’s website regarding the submission of the application file to increase the Company’s capital through converting debt to the Capital Market Authority, in relation to the debt owed to the Public Investment Fund amounting to SAR 4,118,221,464.63; the Company is pleased to announce that it has obtained the Capital Market Authority’s approval on 22 Jumada Al-Awwal 1447H (corresponding to 13 November 2025).

The debt conversion is subject to the approval of the Company’s shareholders. The Company will invite its shareholders to attend the extraordinary general assembly meeting after coordinating with the relevant authorities and will announce this at a later time. Additionally, a shareholders’ circular regarding the capital increase through debt conversion will be published well in advance of the aforementioned general assembly meeting.

The proposed debt conversion comes as the last component of the Company’s capital optimisation plan announced on 05 Rabi AlAwaal 1446H (corresponding to 08 September 2024G), designed to stabilise the Company’s financial and operational positions and optimise its capital structure to enhance its ability to move forward with its growth plans.

The Company will announce any material developments as they occur in accordance with applicable rules and regulations. Date of Announcing the Application on Saudi Exchange’s Website 2025-04-03 Corresponding to 1446-10-05 Date of Submitting the File 2025-03-29 Corresponding to 1446-09-29 Application Status at CMA The Company obtained the CMA’s approval on the application to increase the capital through debt conversion. Other Substantial Updates None.

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.