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Addendum Announcement from National Industrialization Co. an update on The latest developments on the Titanium Sponge Project

Element ListExplanation
Introduction The National Industrialization Company (Tasnee) announces the startup the commissioning production on the Titanium Sponge project
Date of Posting the Previous Announcement of Development on Tadawul's Website 2019-06-25 Corresponding to 1440-10-22
Change on the Development Tasnee is pleased to announce that the commissioning production of titanium sponge at Yanbu plant started on 18 September 2019 Corresponding to 19/01/1441.The plant is located at Yanbu industrial city, with production capacity of 15,600 Tons/Year.The Project and the Ilmenite Smelter are major downstream projects in Tasnee titanium value chain.
Financial Impact on the change The financial impact of this Project cannot be determined at this stage.
Additional Information Please note that the Project owned by Advanced Metal Industries and Toho Titanium Company Limited which (65%) of its share interest is owned by Advanced Metal Industries Co., Ltd., and the later owned by Tasnee (50%) while Cristal owns the other half, and the remaining (35%) of its share interest owned by Toho Titanium, a Japanese company.

Further developments relating to the Project will be announced in due course.

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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