Arab Sea Information Systems Co. announces the interim consolidated financial results for the period ending on 30-06-2023 (six months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	5,523,151	8,375,357	-34.05	9,318,129	-40.73
Gross Profit (Loss)	67,690	2,637,309	-97.43	2,598,715	-97.39
Operational Profit (Loss)	-6,696,220	-2,917,219	129.54	-4,662,415	43.62
Net Profit (Loss) after Zakat and Tax	-6,812,475	-1,888,195	260.79	-4,897,931	39.09
Total Comprehensive Income	-6,812,475	-1,888,195	260.79	-4,897,931	39.09
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	14,841,280	17,288,322	-14.15
Gross Profit (Loss)	2,666,405	5,248,688	-49.2
Operational Profit (Loss)	-11,358,635	-6,139,434	85.01
Net Profit (Loss) after Zakat and Tax	-11,710,406	-5,465,121	114.28
Total Comprehensive Income	-11,710,406	-5,465,121	114.28
Total Share Holders Equity (after Deducting Minority Equity)	124,572,388	141,750,718	-12.12
Profit (Loss) per Share	-1.17	-0.55
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	- The reason for the increase in the net loss for the current quarter compared to the same quarter of the previous year is due to:

1- Revenues decreased by 34.05% compared to the same quarter of the previous year.

2- An increase in general and administrative expenses by 37.75% compared to the same quarter of the previous year, due to the increase in the expenses of establishing subsidiaries.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is - The reason for the increase in net loss during the current quarter compared to the previous quarter is due to:

1- Revenues decreased by 40.72% compared to the previous quarterThe reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is - The reason for the increase in the net loss during the current period compared to the same period of the previous year is due to:

1- Revenues decreased by 14.15% during the current period compared to the same period of the previous year.

2- An increase in general and administrative expenses by 32.68% over the same period of the previous year due to the increase in the expenses of establishing subsidiaries.Statement of the type of external auditor's report Unmodified conclusionModification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion Do not applyReclassification of Comparison Items Do not applyAdditional Information We would like to clarify that the company's sales season is during the fourth and first quarters, and this is one of the reasons for the decrease in revenues for this quarter, in addition to the high competition in the accounting and administrative systems market. Also, the company announced on 25-07-2023 the start of operations for its subsidiary (Arab Sea Financial Company), which will also contribute to an increase in revenues during the coming period.

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.