| Explanations | Item |
| Further to the company’s announcement published on the Tadawul website dated 22/06/1445 corresponding to 04/01/2024, regarding the receipt of a notice from Saudi Aramco on adjustment the prices of fuel products used in the company’s operations, the company would like to clarify the following: | Announcement Details |
| 04/01/2024 | Date of Posting the Previous Announcement |
| https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=77700&anCat=1&cs=9566&locale=en | Hyperlink to the Previous Announcement |
| The company announces its participation in the Industrial Sector Competitiveness Program by signing the “Industrial Sector Competitiveness Framework Agreement” which includes the providing several immediate and developmental solutions aimed at enhancing the competitiveness of existing industrial companies in the Kingdom of Saudi Arabia. As a result, the financial impact on increased production costs has decreased by 7%. The company also emphasizes its commitment to implementing the best available procedures and practices to reduce the financial impact, enhance the efficiency of its operations, and achieve improved and sustainable growth, all with the aim of maximizing shareholder value. | Change on the Development |
| The financial impact of the change is reflected in a reduction on the company’s plant operating costs, with the increase decreasing from 11% before signing the agreement to approximately 4% after signing the agreement, effective from 01/01/2024. | Financial Impact on the change |
