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Saudi Arabian Mining Company (Ma’aden) announces the transfer of debt held by the Public Investment Fund from MRC to Ma’aden.

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Announcement Detail Referring to the announcement of Saudi Arabian Mining Company (Ma’aden) (the “Company”) made on 23/10/1440H (corresponding to 26/06/2019G, and further to the announcement of the Company made on 24/01/1432H (corresponding to 20/12/2019G) related to the debt provided by the Public Investment Fund (the Fund) to Ma'aden Rolling Company (MRC).

The Company announces that Ma'aden Rolling Company’s (“MRC”) remaining debt to the Public Investment Fund (the “Fund”) in the amount of USD 796,370,000 (SAR 2,986,387,500) is being transferred to the Company and the Company will assume the amount of the debt obligation to the Fund.

PIF has representatives on the Company’s board. Also, the Company’s Board member Engr. Abdullah Al-Issa chairs the board of Riyad Bank which is a lender to MRC.

The company will announce in due course any details and further information related to this matter.

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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