Saudi Arabian Mining Co. — Capital/Financing Update 2011

Nov 30, 2011

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES SIGNING OF FINANCING AGREEMENTS WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF) TO FINANCE THE COUSTIC SODA AND ETHYLENE DICLORIDE PROJECT

1211 · 30/11/2011 16:12:51 · Announcement #23306 · View on Saudi Exchange

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES SIGNING OF FINANCING AGREEMENTS WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF) TO FINANCE THE COUSTIC SODA AND ETHYLENE DICLORIDE PROJECT

Further to the previous announcement published on Tadawul website on 24/12/1431 H (corresponding to 30/11/2010)

Saudi Arabian Mining Company (Maaden) announces that its subsidiary, SAMAPCO (Sahara and Maaden petrochemicals company) has signed today 05/01/1433 H (corresponding to 30/11/2011) financing agreement for the caustic soda and ethylene dichloride project. The agreement totaling USD 240 Million (SAR 900 million) was signed with the Saudi Industrial Development Fund (SIDF).

The loan will be repaid in 13 semiannual non-equal installments ranging between 30 and 90 million Saudi Riyals

with repayment starting on 15/08/1436 H and ending on 15/08/1442 H.

The production capacity of the project would amount to 250,000 tonne per year of concentrated caustic soda, and 300,000 tonne of ethylene dichloride. The project will create approximately 200 job opportunities which could increase according to the gradual expansion in the Company's projects. The caustic soda and ethylene dichloride project is a 50:50% joint venture between Ma'aden and Sahara Petrochemicals and will use UHDE German technique. The project will be completed by the end of 2012.

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.