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Announcement by Alinma Investment Company regarding the occurrence of a specific event in Alinma Retail REIT

28 Jumada II, 1445 AH H - 10 January 2024 G

ELEMENT LIST	EXPLANATION
Description of the Event	Alinma Investment Company, in its capacity as Fund Manager of Alinma Retail REIT Fund, announces the signing of an agreement to purchase an office property in Riyadh on 28/06/1445 AH corresponding to 10/01/2024 AD (the “Agreement”), and the details of the property are as follows: • The property is located in AlQIRWAN district, in Riyadh City, Saudi Arabia. It is an office complex built on a land area of (3,780) square meters, with a built-up area of (12,855) square meters (Including parking floors), and a gross leasable area of (5,197) square meters. • The property purchased price is SAR 80 million (not including the real estate transaction tax), and there are no brokerage fees for the deal. • The property is leased to a company for five years with a total rent amount of 7.3 million Saudi riyals (9.12% of the purchase price), and the grace period granted to the tenant ends in June 2024. • The property is strategically located, and the development has been completed recently. Moreover, the property is currently leased to a single tenant, which will support reducing related operational costs and facilitate the collection process. • The agreement is conditional on completing a due diligence examination for the property, It is also intended that the acquisition be financed through the credit facilities. • Whereas the terms and conditions of the fund stipulate that the fund manager receives 1% of the purchase price of each real estate asset in exchange for the fund manager conducting the necessary investigation and negotiation, in order for aiming to achieve a positive impact over the fund and unitholders, Alinma Investment Company has waived the Transaction fees related to this asset.
The Impact Caused by the Event	It is expected that the financial impact of the deal will be positive in general, which will be reflected in the fund’s results during the coming period if the deal is completed. We would also like to note that there are no related parties in this deal.

ELEMENT LIST

EXPLANATION

Description of the Event

Alinma Investment Company, in its capacity as Fund Manager of Alinma Retail REIT Fund, announces the signing of an agreement to purchase an office property in Riyadh on 28/06/1445 AH corresponding to 10/01/2024 AD (the “Agreement”), and the details of the property are as follows:

• The property is located in AlQIRWAN district, in Riyadh City, Saudi Arabia. It is an office complex built on a land area of (3,780) square meters, with a built-up area of (12,855) square meters (Including parking floors), and a gross leasable area of (5,197) square meters.

• The property purchased price is SAR 80 million (not including the real estate transaction tax), and there are no brokerage fees for the deal.

• The property is leased to a company for five years with a total rent amount of 7.3 million Saudi riyals (9.12% of the purchase price), and the grace period granted to the tenant ends in June 2024.

• The property is strategically located, and the development has been completed recently. Moreover, the property is currently leased to a single tenant, which will support reducing related operational costs and facilitate the collection process.

• The agreement is conditional on completing a due diligence examination for the property, It is also intended that the acquisition be financed through the credit facilities.

• Whereas the terms and conditions of the fund stipulate that the fund manager receives 1% of the purchase price of each real estate asset in exchange for the fund manager conducting the necessary investigation and negotiation, in order for aiming to achieve a positive impact over the fund and unitholders, Alinma Investment Company has waived the Transaction fees related to this asset.

The Impact Caused by the Event

It is expected that the financial impact of the deal will be positive in general, which will be reflected in the fund’s results during the coming period if the deal is completed. We would also like to note that there are no related parties in this deal.