Jazan Development and Investment Company Announces that the shareholders of one of the investee companies (Al-Reef Sugar Refinery Company) signed a memorandum of understanding to sell the entire shareholders shares to Ethraa Holding Company

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Introduction	Jazan Development and Investment Company announces that one of its investee companies, Al-Reef Sugar Refinery Company, has signed a binding Memorandum of Understanding on the part of Al-Reef’s shareholders (the sellers), while remaining non-binding on the part of Ethraa Holding Company (the buyer). The memorandum includes the sale of 100% of the existing shareholders’ equity in Al-Reef Sugar Refinery Company. In return, Ethraa Holding Company commits to providing the necessary financial guarantees to all creditors, primarily the Saudi industrial Development Fund (SIDF), to cover all existing loans and obligations of Al-Reef Sugar Refinery Company and guarantees provided by shareholders.

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Explanation

Introduction

Jazan Development and Investment Company announces that one of its investee companies, Al-Reef Sugar Refinery Company, has signed a binding Memorandum of Understanding on the part of Al-Reef’s shareholders (the sellers), while remaining non-binding on the part of Ethraa Holding Company (the buyer). The memorandum includes the sale of 100% of the existing shareholders’ equity in Al-Reef Sugar Refinery Company. In return, Ethraa Holding Company commits to providing the necessary financial guarantees to all creditors, primarily the Saudi industrial Development Fund (SIDF), to cover all existing loans and obligations of Al-Reef Sugar Refinery Company and guarantees provided by shareholders.

Jazan Development and Investment Company owns 15% of the capital of Al-Reef Sugar Refinery Company, which amounts to SAR 300,000,000, divided into 30,000,000 shares with a nominal value of SAR 10 per share. It is worth noting that the full value of this investment was written off as per the latest audited annual financial statements dated 31-12-2024. Memorandum Signing Date 2025-06-21 Corresponding to 1446-12-25 Counterparty 1) Al-Reef Sugar Refinery Company (Seller)

2) Ethraa Holding Company (Buyer) Memorandum Subject Based on this memorandum, the shareholders of Al-Reef Sugar Refinery Company intend to sell all their shares to Ethraa Holding Company. In return, Ethraa Holding Company commits to providing financial guarantees covering all of Al-Reef’s debts and obligations, particularly the loans owed to the Saudi industrial Development Fund (SIDF). The memorandum is binding on the shareholders of Al-Reef but non-binding on Ethraa Holding Company, and its execution is subject to the results of due diligence and obtaining the necessary regulatory approvals.

Ethraa Holding Company will conduct a comprehensive due diligence review covering the financial, legal, operational, and technical aspects of Al-Reef. Al-Reef is committed to providing all required documents and information during the memorandum’s effective period. Memorandum Duration 60 days starting from the date of signing this memorandum, and may be extended by written agreement between the two parties Related Parties None Financial Impact The expected financial impact on JAZADCO is the reversal of the Saudi industrial Development Fund (SIDF) guarantee provision in the amount of SAR 100,800,000, in the event the transaction is completed. Additional Information The signing of this memorandum comes as part of JAZADCO’s efforts to reduce the financial impact arising from the obligations related to Al-Reef. Any relevant developments will be announced as they become available.

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.