The Company would like to announce that the Commercial Court in Riyadh has accepted to register the application for the commencement of liquidation proceedings filed by one of the Company's creditors. The application has been registered with the Court and will be considered in accordance with the relevant statutory procedures and regulations.

The Company affirms that the acceptance of the filing of the application to commence the proceedings does not constitute a final judgment or decision to liquidate the Company, nor does it imply the issuance of a ruling to initiate liquidation proceedings. Rather, it represents the commencement of the judicial consideration of the application submitted by the creditor, in accordance with the provisions of the Bankruptcy Law, its Implementing Regulations, and the relevant statutory procedures.

The Company further clarifies that the application will be subject to established judicial and statutory stages and procedures including enabling relevant parties to exercise their statutory rights pending the competent court’s decision regarding the application, whether to commence liquidation proceedings or to take such other action as it deems appropriate under the law.

The Company further affirms that it will continue to take the necessary regulatory and legal measures to protect the interests of the Company, its shareholders, and stakeholders, and will disclose any material developments in this regard in accordance with relevant regulatory requirements.

The Company emphasizes that the current situation does not constitute a final judgment for the Company's liquidation, and that any decision regarding whether or not to initiate liquidation proceedings remains subject to the ruling of the competent court in accordance with the law.

The Company affirms that the acceptance of the filing of the application to commence the proceedings does not constitute a final judgment or decision to liquidate the Company, nor does it imply the issuance of a ruling to initiate liquidation proceedings. Rather, it represents the commencement of the judicial consideration of the application submitted by the creditor, in accordance with the provisions of the Bankruptcy Law, its Implementing Regulations, and the relevant statutory procedures.

The Company further clarifies that the application will be subject to established judicial and statutory stages and procedures including enabling relevant parties to exercise their statutory rights pending the competent court’s decision regarding the application, whether to commence liquidation proceedings or to take such other action as it deems appropriate under the law.

The Company emphasizes that the current situation does not constitute a final judgment to liquidate the Company; any decision regarding whether or not to initiate liquidation proceedings remains subject to the ruling of the competent court in accordance with applicable regulations, particularly given that the Company continues to conduct its business and operations.

The Company intends to submit its legal defenses and objections regarding the liquidation request, and to file an application to initiate financial reorganization proceedings, in a manner that preserves the continuity of the Company’s operations as well as the rights of the Company, its shareholders, and its creditors.