Savola Group — Capital/Financing Update 2013

May 1, 2013

THE SAVOLA GROUP ANNOUNCES THE LATEST DEVELOPMENTS RELATED TO THE ACQUISITION OF AL-MUHAIDIB HOLDING COMPANYS SHARES IN SOME OF SAVOLAS SUBSIDIARIES

2050 · 01/05/2013 15:42:37 · Announcement #30760 · View on Saudi Exchange

THE SAVOLA GROUP ANNOUNCES THE LATEST DEVELOPMENTS RELATED TO THE ACQUISITION OF AL-MUHAIDIB HOLDING COMPANYS SHARES IN SOME OF SAVOLAS SUBSIDIARIES

Further to the announcement made by The Savola Group (Savola) through the Saudi Stock Exchange (Tadawul) on 6 April 2013 related to its acquisition of Al-Muhaidib Holding Companys 10.0% shareholding in Savola Foods Company and 18.6% (direct and indirect) shareholding in Azizia Panda United Company, in exchange for issuing 33,980,684 new shares in Savola to Al-Muhaidib Holding Company (Transaction), Savola announces that the two parties signed a binding Sale and Purchase Agreement on Wednesday, 1st May 2013 (the Agreement) as per the same terms previously announced by Savola in its announcement made through Tadawul on 6 April 2013.

This Agreement is subject to a number of conditions, including the approval of the Transaction from all relevant regulatory authorities and the approval of the related capital increase by Savola's shareholders at an Extraordinary General Assembly. If the Transaction is not completed by 31 December 2013, the Agreement shall be terminated, unless the parties have mutually agreed in writing before 31 December 2013 to extend the term of the Agreement for further period.

Further announcements concerning any material developments in relation to the Transaction will be made by Savola in due course.

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.