Saudi Industrial Export Co. — Proxy Solicitation & Information Statement 2022

Feb 13, 2022

The Saudi Industrial Exports Company (Sadirat) announces an invitation to participate in the Ordinary General Assembly meeting that includes reducing the company's capital (the first meeting) through virtual meeting (Reminder Announcement).

4140 · 13/02/2022 16:00:29 · Announcement #66684 · View on Saudi Exchange

The Saudi Industrial Exports Company (Sadirat) announces an invitation to participate in the Ordinary General Assembly meeting that includes reducing the company's capital (the first meeting) through virtual meeting (Reminder Announcement).

Element List	Explanation
Introduction	The Board of Directors of the Saudi Industrial Exports Company is pleased to invite the shareholders of the company to attend and vote at the 34th Ordinary General Assembly meeting (the first meeting) by means of modern technology using the tadawulaty Platform.

This is in the interest of the safety of dealers in the financial market and within the support of preventive and precautionary efforts and measures by the competent and relevant health authorities to address the emerging corona virus (COVID-19), and an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread. City and Location of the Extraordinary General Assembly's Meeting The company's headquarters - Riyadh - Al-Ghadeer district, King Abdul Aziz Road (through virtual meeting) URL for the Meeting Location https://www.tadawulaty.com.sa Date of the Extraordinary General Assembly's Meeting 2022-02-15 Corresponding to 1443-07-14 Time of the Extraordinary General Assembly's Meeting 19:00 Attendance Eligibility Shareholders registered in the Issuer's Shareholders Register at the Depository Center at the end of the trading session preceding the General Assembly meeting and based on the rules and regulations. Quorum for Convening the General Assembly's Meeting In order for the regular general assembly meeting to be valid, the attendance of shareholders representing at least 50% of the company's six million eight hundred thousand shares, When shareholders representing 25% of the company’s shares are present, and if the necessary quorum is not available at the second meeting, an invitation is sent to a third meeting, and the third meeting will be valid regardless of the number of shares represented therein, after the approval of the competent authority. Meeting Agenda 1- Vote on the Board of Directors’ recommendation to reduce the company’s capital according to the following:

- The company's capital before the reduction: (64,800,000) Saudi riyals

-Company capital after reduction: (21,160,000) Saudi riyals

- Number of shares before the reduction: (6,480,000) shares

- Number of shares after reduction: (2,160,000) shares

- Reduction rate: 66.66% of the company's capital

- Reason for capital reduction: To restructure the capital and amortize (96.71%) of the accumulated losses as on September 30, 2021, at a value of (43,320,000) Saudi riyals

- Capital reduction method: cancel (4,320,0000) shares of the company's shares, 2 shares will be reduced for every 3 shares

- Date of reduction: at the end of the second trading day following the date of the Extraordinary General Assembly in which it was decided to reduce the capital

- The effect of the capital reduction on the company’s obligations: there is no effect of the company’s capital reduction on its financial obligations.

2- Vote on amending Article No. (3) of the company’s articles of association related to the company’s objectives (attached).

3- Vote on amending Article No. (7) of the company’s articles of association related to Company’s capital (attached).

4- Vote on amending Article No. (8) of the company’s articles of association related to subscription for shares (attached).

5- Vote on amending Article No. (53) of the company’s articles of association related to the liability claim (attached). Proxy Form E-Vote Shareholders registered in the tadawulaty services will be able to vote remotely on the assembly’s items, starting at ten o'clock in the morning on Saturday 11-07-1443 AH corresponding to 12-02-2022 CE until the end of the assembly.

Registration and voting in tadawulaty Services will be available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa Eligibility for Attendance Registration and Voting The right to register attendance for the assembly meeting ends at the time of the assembly meeting and the right to vote on the assembly's items for the attendees ends when the counting committee finishes counting the votes. Method of Communication In the event of an inquiry, one can contact the Investor Relations Department by phone: 0114058080 or on the mobile number 00966558850083, during the official working hours of the company from Sunday to Thursday from ten in the morning until three in the afternoon, and questions related to the agenda of the association can also be sent to the following address email: shareholder.relations@siec.com.sa 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.