Arabian Centres Co. (Cenomi Centers) announces the sale of a land (Raseel Al Ihsa) in Granada District in Al Ahsa for SAR 70.7 million

Element List	Explanation
Introduction	Arabian Centres Co. (“Cenomi Centers” or “the company”) announces that it has completed the third transaction as part of its non-core asset sale program. The 29,384.90 sqm plot, located in Granada District of Al Ahsa on Prince Miteb Road, directly adjacent to King Abdullah Road sold for around SAR 70.7 million and is the third to be sold as part of the company’s program to sell an identified portfolio of non-core assets worth around SAR 2 billion.
Transaction Details	Sale of a 29,384.90 sqm empty land in Granada district of Al Ahsa for SAR 2,230 per sqm, with a total price of SAR 65.5 million (excluding the Real Estate Transaction Tax and the Brokerage Fees).
Transaction Value	SAR 65.5 million (excluding the Real Estate Transaction Tax and the Brokerage Fees).
Transaction Terms	None.
Parties of the Transaction	Seller: Cenomi Centers.

Buyer: Mr. Abdullah bin Fahd bin Abdullah Al Harish Al Tamimi Transaction Execution Date 2023-09-05 Corresponding to 1445-02-20 Description of the Business of the Asset forming the Subject Matter of the Transaction Empty land. Asset Book Value Net book value of this land on the company’s financial statements amounted to SAR 22.0 million as of 30/06/2023. Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction Not applicable. Transaction reasons This land no longer supports Cenomi Centers’ strategic priorities of developing best-in-class lifestyle destinations. Expected Impact of the Transaction on the Company and Its Operations The company’s Income Statement will be positively affected by the capital gains, resulted from the sale transaction, amounted to SAR 43.5 million. And it is expected that this effect will be reflected during the fourth quarter of year ending 31/12/2023. Details of Using The Proceeds of the Asset Sale Strengthening the company’s financial position and reinforcing Cenomi Centers’ future growth plans. Related Parties None. Attached Documents

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