Ataa Educational Co. — Capital/Financing Update 2023

May 1, 2023

Ataa Educational Company announces the purchase of a piece of land for an educational facility in Irqah neighborhood, Riyadh, at a value of 17,000,000 Saudi Riyals, not including real estate tax and office fee.

4292 · 01/05/2023 15:49:12 · Announcement #73294 · View on Saudi Exchange

Ataa Educational Company announces the purchase of a piece of land for an educational facility in Irqah neighborhood, Riyadh, at a value of 17,000,000 Saudi Riyals, not including real estate tax and office fee.

Element List	Explanation
Introduction	Ataa Educational Company announces that the land purchase contract has been signed in Irqah neighborhood, Riyadh.
Transaction Details	Buying a piece of land with an area of 10,000 square meters in Irqah neighborhood on Prince Mishaal bin Abdulaziz Road for a value of 17,000,000 Riyals.
Transaction Value	The value of the deal is 17,000,000 Saudi Riyals, not including the real estate Tax and office fee.
Transaction Terms	There are no preferential or special conditions
Parties of the Transaction	Seller: Prince Abdulaziz bin Mishaal bin Abdulaziz Al Saud

Buyer: Ataa Educational Company Transaction Funding Method Self-financing and bank loans Transaction Execution Date 2023-05-01 Corresponding to 1444-10-11 Description of the Business of the Asset forming the Subject Matter of the Transaction An educational facility land with an area of 10,000 square meters for the purpose of establishing an educational complex. Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction do not apply Transaction reasons Establishing an educational complex Expected Impact of the Transaction on the Company and Its Operations Non-current assets increased in the fourth quarter of 2023 AD Related Parties do not apply Additional Information An educational complex will be built on the ground with a capacity of 2,300 male/female students for the transfer of the existing Al-Fikr National Complex. This transfer is consistent with the company's plans to transfer its schools from non-educational buildings to purpose-built educational buildings, in addition to increasing the capacity of students according to the company's strategy for expansion. The new complex shall also support the growth of Ataa’s market share in western Riyadh by providing educational curricula that serve multiple segments of parents to meet various demands.

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.