Takween Advanced Industries Co. — Capital/Financing Update 2021

Jun 30, 2021

Takween Advanced Industries Co. Announces an update in regards to the developments on the Memorandum of Understanding signed with the Chinese company, JOFO Nonwoven Co. Ltd on 09/06/2020

1201 · 30/06/2021 08:01:48 · Announcement #63953 · View on Saudi Exchange

Takween Advanced Industries Co. Announces an update in regards to the developments on the Memorandum of Understanding signed with the Chinese company, JOFO Nonwoven Co. Ltd on 09/06/2020

Element List	Explanation
Introduction	Further to the announcements made by Takween Advanced Industries on December 30, 2020, May 31,2021 , June 21,2021& June 23,2021 regarding the signing of an agreement with JOFO ("Agreement"), under which Takween agreed to sell 92,260 shares of one of its subsidiaries, Advanced Fabrics Factory Company (“SAAF”), representing 70% of the share capital of SAAF (the Transaction”),

The completion of the transaction is subject to several conditions including capitalization of part of the dues to Takween amounting to 53 million Saudi Riyals according to the management accounts as of 31/05/2021, and therefore, Advanced fabrics factory capital has been increased yesterday to (184,800,000) Saudi Riyals instead of (131,800,000) Saudi Riyals and the total number of shares to be sold became (129,360) instead of (92,260).

The two parties' (Takween and JOFO Company) are currently preparing to obtain MOC approval to enact the share transfer.

The two parties' (Takween and JOFO Company) have agreed to extend the long stop date to be July 15, 2021, instead of June 30, 2021, accordingly the extension agreement was signed yesterday. Previous Announcement the developments on the Memorandum of Understanding signed with the Chinese company, JOFO Nonwoven Co. Ltd on 09/06/2020 Date of Previous Announcement on Tadawul's Website 2021-06-23 Corresponding to 1442-11-13 Percentage of fulfilled achievement 95% Event's Expected Completion Date 15-07-2021 Reasons for Exceeding the Announced End Date Fulfilling the requirements set in the “ agreement” The costs associated with the event, and if they have changed or not with indication of the reasons. No Changes Impact of the Delay on the Company's Financial Results No Impact

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.