MBC Group Co. — Capital/Financing Update 2025

May 8, 2025

MBC Group Company announces the signing of a Land Transfer Agreement with Diriyah Company

4072 · 08/05/2025 15:39:10 · Announcement #87110 · View on Saudi Exchange

MBC Group Company announces the signing of a Land Transfer Agreement with Diriyah Company

Element List	Explanation
Introduction	MBC Group Company (the “Company”) announces the signing of a Land Transfer Agreement with Diriyah Company (“DC”) in relation to the transfer and development of certain plots within the Diriyah Project in the City of Diriyah (the “Agreement”).
Date of Announcement of the Award	2025-05-08 Corresponding to 1446-11-10
Contract Subject Matter	Transfer of certain plots within the Diriyah project.
The Entity with Which the Contract was Signed	Diriyah Company
Date of Signing the Contract	2025-05-08 Corresponding to 1446-11-10
Contract Value	Not applicable.
Contract Details	The parties have agreed, pursuant to the Agreement, to transfer certain plots within the Diriyah project in the City of Diriyah (the "Plots") to the Company or to a wholly owned subsidiary of the Company. The Plots shall thereafter be developed by DC pursuant to a detailed development works agreement to be entered into between the Company (or the relevant subsidiary) and DC in due course (the "Definitive Development Works Agreement"), which agreement shall set out the respective rights and obligations of the Company (or the relevant subsidiary) and DC with respect to such development works on the Plots. DC will, under the Definitive Development Works Agreement, carry out the development, design and construction works with respect to the Plots based on a timeline to be agreed between the parties.

The parties have agreed that the purpose of the transfer of the Plots is the development thereof in accordance with the Definitive Development Works Agreement to be agreed between the parties at a later stage, whereby the Plots are intended to be developed as the headquarters of the Company, including but not limited to certain core facilities such as filming studios and an MBC experience and visitor centre (the "Permitted Uses") – the Plots shall not be used, exploited or disposed of for any other purposes, unless otherwise agreed between the parties in the Definitive Development Works Agreement or any other agreement entered into between the parties in this regard. The Agreement also includes several provisions and obligations relating to the ownership of the Plots, including the Company's obligation to comply with the master community documentation of the Diriyah project, leasing requirements and restrictions, along with the Company's responsibility for payment of any taxes or fees associated with the transfer of the Plots thereto (if any) and payment of all service fees, outgoings and utilities applicable thereto (as an owner of plots in the Diriyah project).

The transfer of the Plots (including all rights and obligations connected thereto) to the Company (or the relevant subsidiary) will be completed upon the issuance of a title deed(s) for the Plots in its name. The Plots are planned to have a total area of approximately one hundred and thirty-eight thousand and three hundred and fifty-two square meters (138,352 m2). Contract Duration The Agreement shall be effective from its signing date and shall remain valid for the period of the Company's ownership of the Plots. Financial Impact and the Relevant Period The Financial Impact relating to the transfer of the Plots will be reflected in the financial statements of the Company following transfer thereof. The financial impact relating to the Definitive Development Works Agreement, however, will be ascertained following execution of the Definitive Development Works Agreement and announced accordingly. Related Parties None. Additional Information The Company and DC will continue their discussions to agree the detailed terms and conditions of the Definitive Development Works Agreement. Once the Definitive Development Works Agreement is signed, the Company will make the necessary announcements in accordance with applicable laws and regulations. Attached Documents  

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.