National Agricultural Development Co. — Capital/Financing Update 2021

Aug 2, 2021

National Agricultural Development Co. (NADEC) Announces an update on the announcement of signing an agreement of 30 MW Solar Energy Project in Haradh

6010 · 02/08/2021 08:26:07 · Announcement #64325 · View on Saudi Exchange

National Agricultural Development Co. (NADEC) Announces an update on the announcement of signing an agreement of 30 MW Solar Energy Project in Haradh

Element List	Explanation
Introduction	With reference to the National Agricultural Development Company (NADEC) announcement on Tadawul website dated 29 March 2021 regarding the update on the agreement of 30 MW Solar Energy Project in Haradh.

(NADEC) Company would like to announce to its shareholders that it is in the process of completing the construction works of the project, and according to the company’s estimates, the first phase will be completed at the end of August 2021, by operating 10 MW, and the final phase of the project with a capacity of 30 MW will be completed at the end of October 2021, then the commercial operation of the project will start at that time. Previous Announcement National Agricultural Development Co. (NADEC) Announces an update on the announcement of signing an agreement of 30 MW Solar Energy Project in Haradh Date of Previous Announcement on Tadawul's Website 2021-03-29 Corresponding to 1442-08-16 Percentage of fulfilled achievement 85% Event's Expected Completion Date 31 October 2021 Reasons for Exceeding the Announced End Date Due to Coronavirus (COVID-19) pandemic leading to a force majeure situation which impact the global supply chains, this led to the delay of some project execution work, and has resulted in postponement of supply and implementation activities of the project. The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Impact of the Delay on the Company's Financial Results N/A Additional Information The financial impact will be announced upon completion of construction work and commencement of commercial operation of the project.

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.