Al-Jouf Agricultural Development Co. Announces an update on Al-Jouf Agricultural Development Co. Announces the Receipt of a Letter from Almunajem Foods Company Expressing Its Desire to Acquire a Minority Stake in the Company as a Strategic Investor.

Element List	Explanation
Introduction	With reference to the announcement by Al-Jouf Agricultural Development Co. (the “Company”) on the Tadawul website dated 19-01-2026G regarding the receipt of a letter from Almunajem Foods Company (A Company Listed on the Saudi Stock Exchange) on 19-01-2026G, expressing its intention to enter into preliminary, non-binding discussions to explore the possibility of Almunajem Foods Company becoming a strategic investor in the Company through the acquisition of a minority stake by way of a capital increase, with the suspension of pre-emptive rights of existing shareholders in accordance with the provisions of Article (129) of the Companies Law, at a subscription price of SAR 52.5 per one new share.
Previous Announcement	Al-Jouf Agricultural Development Co. Announces the Receipt of a Letter from Almunajem Foods Company Expressing Its Desire to Acquire a Minority Stake in the Company as a Strategic Investor.
Date of Previous Announcement on Saudi Exchange’s Website	2026-01-19 Corresponding to 1447-07-30
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The Company’s Board of Directors has resolved to approve entering into preliminary, non-binding discussions to explore the potential for Almunajem Foods Company to join as a strategic investor in Al-Jouf Agricultural Development Company through the acquisition of a minority stake. This would be executed by increasing the Company’s share capital while suspending pre-emptive rights, with the subscription price for Almunajem Foods set at SAR 52.5 per share, subject to the completion of the following conditions:

1- The Company’s capital increase must not exceed 15% of the total share capital.

2- The signing of binding agreement(s), including the completion of due diligence.

3- Obtaining approval from the Extraordinary General Assembly and all other required regulatory approvals from the relevant authorities. Reasons For The Delay on The Date of The Event Previously Announced N/A The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Delay consequences on the Company’s financial results N/A

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