Etihad Atheeb Telecommunication Co. Announces an update on Etihad Atheeb Telecommunication Co. (GO) announces Board’s Recommendation to Authorize Its Executive Management to Study Ways to Restructure the Company’s Capital

Element List	Explanation
Introduction	Further to the company's announcement of the decision of its board of directors on 25/11/1442 AH corresponding to 05/07/2021 AD, the recommendation to assign the executive management to study ways to restructure the capital, including reducing the capital; and then raise the capital in proportion to the company's financial position.

Etihad Atheeb Telecommunication Company (GO) would like to announce to its shareholders the appointment of ALJAZIRA CAPITAL as a financial advisor to the executive management to present a future financial plan to the Board of Directors dealing with how to raise the company's financial solvency, strategic expansion and improve operational and financial performance. Previous Announcement Etihad Atheeb Telecommunication Co. (GO) announces Board’s Recommendation to Authorize Its Executive Management to Study Ways to Restructure the Company’s Capital Date of Previous Announcement on Tadawul's Website 2021-07-06 Corresponding to 1442-11-26 Percentage of fulfilled achievement Not applicable Event's Expected Completion Date Not applicable Reasons for Exceeding the Announced End Date Not applicable The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable Impact of the Delay on the Company's Financial Results It is difficult to determine the financial impact at the present time. Additional Information The company will announce any material developments such as the percentage of capital reduction, date of reduction and capital increase percentage, but not limited to, at a time, according to the regulations and regulations.

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