The Fund Manager of the Alinma Makkah Real Estate Fund announces the receipt of a letter to extend the period of the non-binding offer from Jabal Omar Development Company

9 Rabiʻ II 1443 AH H - 14 November 2021 G

With reference to the announcement by the Fund Manager of the Alinma Makkah Real Estate Fund (the "Fund") dated 6/2/1443H (corresponding to 13/9/2021G) regarding the submission by Jabal Omar Development Company (the "Company") of a non-binding offer to the Fund Manager that includes the settlement of the fixed outstanding and future obligations owed by the Company as a result of the agreements entered into between the Fund and the Company. Such offer is mainly represented through the acceptance of an in-kind consideration (comprising of shares in the Company) in exchange for surrendering the assets of the Fund in favour of the Company and in accordance with a specific exchange ratio. Since the terms and conditions of the offer included a specific period for its study by the Fund Manager, which was set at sixty (60) calendar days from the date of submission of the offer unless such period was extended by the Company, the Fund Manager announces the receipt of a letter from the Company extending the non-binding offer period until the end of this current Gregorian year.

The Fund Manager indicates that implementing the transaction requires procuring the necessary regulatory approvals, which includes: the approval of the Unitholders on the necessary amendments to the Fund terms and conditions, and the approval of the Capital Market Authority on the procedures regulating the acceptance of the offer and the consequential effect of such acceptance on the units of the Fund.

The Fund Manager assures the Unitholders that the offer submitted by the Company, in its capacity as tenant of the Fund assets, shall not affect the Fund's operations and normal operating procedures, in accordance with the Fund terms and conditions. The Fund Manager shall announce any related material developments in a timely manner and in accordance with the relevant laws and regulations.