Alinma Investment Company announces a material development related to the offer submitted by Jabal Omar Development Company

1 Safar 1444 AH H - 28 August 2022 G

Alinma Investment Company in its capacity as the Fund Manager of Alinma Makkah Real Estate Fund (“the Fund”) announces a material development related to the offer submitted by Jabal Omar Development Company (“JODC”) as previously announced on 13th September 2021 and updated on 3rd April 2022, which includes JODC’s offer to acquire the assets of Alinma Makkah Real Estate Fund (the Fund) and settle all the obligations owed to the Fund in exchange for granting Shares in JODC to the Unitholders, in accordance with a specific exchange ratio. The Fund Manager would like to announce that JODC has obtained its Extraordinary general assembly meeting approval with regards to increase of JODC’s Capital by issuing of two hundred twenty-five million and one hundred thirty-four thousand and one hundred sixty-two (225,134,162) new shares, which shall be granted to the Fund unitholders pursuant to the determined exchange ratio being 0.4423 new shares in the Company for every unit in the Fund (excluding JODC in its capacity as a unitholder in the Fund), which shall increase JODC’s Capital from nine billion two hundred ninety-four million Saudi Riyals (SAR 9,294,000,000) to eleven billion five hundred forty-five million three hundred forty-one thousand and six hundred twenty Saudi Riyals (SAR 11,545,341,620). It is expected that the deposit of shares will be executed within a period not exceeding 10 working days.