Al Moammar Information Systems Co. — Capital/Financing Update 2021

Aug 9, 2021

Al Moammar Information Systems (MIS) announces the signing of a Memorandum of Understanding (the “MOU”) with Saudi Fransi Capital with the amount of 150 million SAR, with the intention of launching a private investment fund with the objective of investing in venture capital opportunities within the technology sector in the Kingdom of Saudi Arabia

7200 · 09/08/2021 15:25:48 · Announcement #64440 · View on Saudi Exchange

Al Moammar Information Systems (MIS) announces the signing of a Memorandum of Understanding (the “MOU”) with Saudi Fransi Capital with the amount of 150 million SAR, with the intention of launching a private investment fund with the objective of investing in venture capital opportunities within the technology sector in the Kingdom of Saudi Arabia

Element List	Explanation
Introduction	Al Moammar Information Systems (MIS) is hereby pleased to announce the signing of a Memorandum of Understanding (MOU) with Saudi Fransi Capital to establish a private investment fund that will have the objective of investing in venture capital opportunities within the technology sector, primarily in the Kingdom of Saudi Arabia.

Some of the key provisions of this MoU are as follows:

(a) SFC intends to setup and manage a venture capital fund (“Fund”) with the primary investment objective of making early stage equity investments in technology start-up companies primarily in the Kingdom of Saudi Arabia. In specific, the Fund will target investments in concepts and ideas that promise significant technological innovation whether it be a disruptive force in conventional industries or addressing new demands and requirements of the digital economy. The Fund will have a broad sector focus and pursue investments in areas such as software, digital services, systems & security, consumer services and healthcare technology.

(b) The Fund will be established as a private investment fund in the Kingdom of Saudi Arabia under the Investment Funds Regulations (“IFR”) of the Saudi Arabian Capital Markets Authority (the “CMA”).

(c) It is the intention of MIS to setup, either as an internal division of the company or as a separate subsidiary, a business incubator and an innovation lab (“MIS Lab”) with the primary objective of screening, identifying and developing start-ups in the technology space with a focus on disruptive and innovative technologies. MIS will ensure that MIS Lab is setup according to global best practices and adequately funded and staffed to be able to carry out its duties and objectives. MIS Lab will have a dual focus of both developing and harnessing technology start-ups that are conceptualized internally from MIS as well as providing an effective and world class platform to foster independent entrepreneurs and innovators from across the Kingdom of Saudi Arabia and the surrounding region

(d) The Fund intends to appoint MIS Lab as its exclusive Investment Advisor and Innovation Partner, MIS Lab’s primary responsibility would be to research, source and advice the Fund on acquisition of stakes in companies that are consistent with the Investment Objectives of the Fund.

(e) The initial target size of the Fund is expected to be SAR 150 million Memorandum Signing Date 2021-08-09 Corresponding to 1443-01-01 Counterparty Saudi Fransi Capital SFC Memorandum Subject the signing of a Memorandum of Understanding (MOU) with Saudi Fransi Capital to establish a private investment fund that will have the objective of investing in venture capital opportunities within the technology sector, primarily in the Kingdom of Saudi Arabia. Memorandum Duration Duration of the Memorandum This Memorandum shall start working from the date of its signature by both parties and for a period of (180) working days Related Parties There are no related parties. Financial Impact It cannot be determined

The Capital Market Authority and Saudi 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.