Jabal Omar Development Co. — Capital/Financing Update 2021

Nov 14, 2021

JABAL OMAR DEVELOPMENT COMPANY ANNOUNCES RECENT DEVELOPMENT RELATING TO THE NON-BINDING OFFER SUBMITTED TO THE MANAGER OF ALINMA MAKKAH REAL ESTATE FUND RELATING TO THE FULL SETTLEMENT OF THE RIGHTS AND OBLIGATIONBS OF THE FUND’S ASSETS

4250 · 14/11/2021 08:10:52 · Announcement #65632 · View on Saudi Exchange

JABAL OMAR DEVELOPMENT COMPANY ANNOUNCES RECENT DEVELOPMENT RELATING TO THE NON-BINDING OFFER SUBMITTED TO THE MANAGER OF ALINMA MAKKAH REAL ESTATE FUND RELATING TO THE FULL SETTLEMENT OF THE RIGHTS AND OBLIGATIONBS OF THE FUND’S ASSETS

Element List

Explanation

Introduction

Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 6/2/1443H (corresponding to 13/9/2021G) in relation to the submission of a non-binding offer to the manager of Alinma Makkah Real Estate Fund (the “Fund”) on behalf of the Fund for the full settlement of the Fund’s assets and liabilities (the “Offer”) in exchange for the issuance of new shares in the Company to the Fund unitholders (the “Transaction”), and whereby the Offer included a specific period of sixty (60) calendar days from the date of the Offer submission for the Fund manager to consider the Offer unless extended by the Company (the “Offer Period”); and given that discussions between the Company and the Fund manager are still ongoing in order to reach an agreement in respect of the Transaction and enter into a binding agreement thereof, the Company announces that it has extended the Offer Period until the end of the current Gregorian year.

The Company will announce any further material developments in relation to the Transaction in a timely manner as required by the relevant laws and regulations. Previous Announcement Jabal Omar Development Company announces the submission of a non-binding offer to the manager of the Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations in respect of the Fund’s assets Date of Previous Announcement on Tadawul's Website 2021-09-13 Corresponding to 1443-02-06 Percentage of fulfilled achievement Not applicable Event's Expected Completion Date Reaching an agreement in respect of the Transaction is expected to be completed before the end of the current calendar year Reasons for Exceeding the Announced End Date Not applicable The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable Impact of the Delay on the Company's Financial Results Not applicable

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.