Saudi Arabian Mining Co. — Capital/Financing Update 2014

Jul 1, 2014

(MAADEN) ANNOUNCES THE SIGNING OF ITS SUBSIDIARY MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY THE FINANCING AGREEMENTS WITH THE PUBLIC INVESTMENT FUND, COMMERCIAL BANKS AND OTHER FINANCIAL INSTITUTIONS

1211 · 01/07/2014 09:45:13 · Announcement #34991 · View on Saudi Exchange

(MAADEN) ANNOUNCES THE SIGNING OF ITS SUBSIDIARY MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY THE FINANCING AGREEMENTS WITH THE PUBLIC INVESTMENT FUND, COMMERCIAL BANKS AND OTHER FINANCIAL INSTITUTIONS

Further to the company announcement on Tadawul on 22/02/1435H (corresponding to 25/12/2013G), the Saudi Arabian Mining Company (Maaden) announces that its subsidiary (Maaden Waad Al Shamal Phosphate Company) has signed on 03/09/1435H (corresponding to 30/06/2014G) financing agreements with the Public Investment Fund and with commercial banks and other financial institutions (Al Rajhi Banking and Investment Corporation, Alinma Bank, Banque Saudi Fransi, Riyad Bank, Samba Financial Group, The Saudi British Bank, The Saudi Investment Bank, The National Commercial Bank, BNP Paribas Saudi Arabia, Arab Petroleum Investments Corporation (APICORP), Islamic Development Bank, HSBC Bank Middle East Limited, KfW IPEX Bank GmbH, Mizuho Bank Limited, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ Limited, Export Development Canada, The Export-Import Bank of Korea, and Korea Trade Insurance Corporation) for a total amount of SAR 18.9 billion (USD 5.0 billion) without any corporate financial guarantees. This is to fund the development and construction of Maaden Waad Al Shamal Phosphate Project. The loans will be for a period of 16.5 years and will be repaid in semi-annual installments starting from 31 December 2018.

The total cost of the project is estimated at about SAR 28 billion (USD 7.5 billion), and it is expected to commence production in the new facilities in late 2016. It is noted that Saudi Arabian Mining Company (Maaden), The Mosaic Company and Saudi Basic Industries Corporation (SABIC) will own 60%, 25% and 15% of the joint venture developing the Waad Al Shamal Phosphate project respectively.

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.