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National Petrochemical Company (Petrochem) announces that its Board of Directors has decided to start the discussions with Saudi Industrial Investment Group (SIIG) on a potential deal to merge the two companies.

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Announcement Detail Petrochem announces that its Board of Directors approved on 17-09-2020 the start of initial discussions with the Saudi Industrial Investment Group (SIIG) (a related party) to study the economic feasibility of merging the two companies, noting that no agreement has yet been reached on the final structure of the potential deal.

It should also be noted that entering into these discussions does not necessarily mean that the deal will take place between the two parties. If the deal is agreed upon, this will be subjected to the conditions and approvals of the all regulators, and the approval of the extraordinary general assembly of both companies.

Petrochem will announce any relevant developments as needed.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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