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Saudi Aramco’s Proposed Acquisition of 70% Majority Stake in SABIC Receives Unconditional Clearance from European Commission

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Announcement Detail Dhahran, Saudi Arabia, February 27, 2020 - Saudi Aramco announces that its proposed acquisition of a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia (PIF) has received unconditional clearance from the European Commission.

With this, the proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings are required. The closing of the proposed transaction is subject to the remaining customary closing conditions contained in the Share Purchase Agreement.

Forward-Looking Information

This release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements. Saudi Aramco believes that the forward-looking statements are based upon reasonable assumptions and expectations. However, you are cautioned that any such forward-looking statements are not guarantees of the future and that a number of risks and uncertainties could cause actual events to differ materially from those anticipated in the forward-looking statements.

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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