Arabian Internet and Communications Services Company (solutions) announces the latest developments regarding the signing of a joint venture agreement with Jeddah Development and Urban Regeneration Company (Jedco) to establish a limited liability company

Element List	Explanation
Introduction	With reference to the announcement made by Arabian Internet and Communications Services Company (solutions) on the Saudi Exchange dated 01-08-2024 related to the issuance of non-objection by the General Authority for Competition (“GAC”) pursuant to its decision number 935 dated 31-07-2024 with respect to the transaction.

solutions announces that on 17-10-2024 the establishment of Amanah Tech company in partnership with Jeddah Development and Urban Regeneration Company (Jedco) owned by Jeddah Municipality was completed. The aim of this company is to execute and operate technical and digital solutions to the projects managed by Jedco and its subsidiaries.

The shareholding of the Amanah Tech company will be as the following: solutions ownership of [70%], Jedco ownership of [30%], with a paid-up capital of SAR 3 million.

The transaction has been funded through solutions’ own resources. Previous Announcement Arabian Internet and Communications Services Company (solutions) announces the latest developments regarding the signing of a joint venture agreement with Jeddah Development and Urban Regeneration Company (Jedco) to establish a limited liability company. Date of Previous Announcement on Saudi Exchange’s Website 2024-08-01 Corresponding to 1446-01-26 Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here Latest Developments Of The Announced Event The establishment of a subsidiary company in partnership with Jedco was completed. The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Additional Information The Partnership comes in line with solutions' (LEAP) strategy to grow and expand into promising business lines to enable digital transformation for its customers and provide the best value to its shareholders.

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.