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Published on the same date

CMA Announces the Approval of SIIG request to increase its capital to acquire all shares issued in PETROCHEM which are not owned by SIIG through securities exchange, and the approval of publication the offer timetable, and the offer document

The CMA announces the issuance of its resolution approving Saudi Industrial Investment Group request to increase its capital from SAR 4,500,000,000 to SAR 7,548,000,000 by issuing 304,800,000 ordinary shares to acquire all shares issued in National Petrochemical Co.  which are not owned by Saudi Industrial Investment Group through securities exchange.

Saudi Industrial Investment Group capital increase shareholder circular will be published within sufficient time before the Extraordinary General Assembly Meeting. The shareholder circular must include 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 increase in capital and risk factors.

The CMA resolution included the approval of the proposed offer timetable, as well as the approval of the publication of the offer document by Saudi Industrial Investment Group to the National Petrochemical Co. shareholders through securities exchange.

The offer document of Saudi Industrial Investment Group will be published to National Petrochemical Co. shareholders to acquire all their shares in National Petrochemical Co. within sufficient time before the Extraordinary General Assembly Meeting of National Petrochemical Co. The offer document must include all relevant information that the shareholders need to know before making an informed decision when voting on the offer, including the offer information and risk factors.

If the shareholders of Saudi Industrial Investment Group approved the capital increase, and the shareholders of National Petrochemical Co. accepted the offer in their Extraordinary General Assembly Meetings, the new shares will be issued to National Petrochemical Co. shareholders who are registered in the shareholders registry at the Securities Depository Center Company and the shares of National Petrochemical Co. will be delisted from the Saudi Stock Exchange after the merger decision becomes effective.

A voting decision without reading the shareholders circular and the offer document carefully reviewing its content may involve high risks. Therefore, the shareholder should carefully read the shareholders circular and the offer document to be able to reach a proper voting decision. If the shareholders circular and offer document prove difficult to understand, it is recommended to consult with an authorized financial advisor.

The CMA's approval should never be considered as an endorsement of the merger's feasibility. The CMA's approval of the application merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.