The CMA Board has issued its resolution approving the prospectus associated with the National Shipping Company of Saudi Arabia’s request to increase its capital from SAR 3,150,000,000 to SAR 3,937,500,000 for the purpose of merging the fleet and operations of Vela International Marine Limited with the National Shipping Company of Saudi Arabia

The Company's capital increase prospectus will be published within sufficient time prior to the Extraordinary General Assembly Meeting. The prospectus includes all relevant information that the shareholders need to know before making an informed decision when voting on the capital increase for the purpose described, including the merger transaction and risk factors.

A  voting decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, shareholders should carefully read the prospectus, which includes detailed information on the company, the merger transaction and risk factors. Thus, providing shareholders the ability to evaluate the viability of merger transaction, taking into consideration the associated risks. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to any investment decision.

The CMA’s Board approval of prospectuses should never be considered as a recommendation to approve the merger transaction for any specific company. The Board's approval of a prospectuses merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.