Further to the Addendum announcement published on 16/07/1447H corresponding to 05/01/2026G, which included the agreement with the parties to renew the term of the MoUs for a similar period starting from 23/07/1447H corresponding to 12/01/2026G and ending on 24/09/1447H corresponding to 13/03/2026G, renewable upon agreement of the parties to the MoUs.

MEFIC Capital, in its capacity as the Fund Manager, would like to clarify that an agreement has been reached with the different sellers as follows:

1) Jeddah Property:
A Sale and Purchase Agreement for real estate assets was signed on 24/09/1447H, corresponding to 13/03/2026G, for the acquisition of ownership of a property located in Jeddah with a total area of sixty-six thousand five hundred eighty-eight square meters and fifty square centimeters (66,588.5). The transaction value amounts to four hundred sixty million Saudi Riyals ( 460,000,000), with the consideration to be paid in-kind.

The procedures related to the agreement are to be completed within ninety business days, which may be extended by written agreement between the parties. The agreement is conditional upon fulfilling all required conditions, including but not limited to the following:

(a) Completion of the procedures to increase the total assets of the Fund through the offering of additional units via the acceptance of in-kind contributions, which requires the approval of the Fund’s Board of Directors, the Capital Market Authority, and the unitholders.

(b) Completion of legal, technical, and financial due diligence on the real estate assets and addressing any observations therein in a manner satisfactory to the Fund.

(c) Providing the Fund with updated copies of licenses, regulatory certificates, and all lease agreements related to the real estate assets.

2) Makkah Property:
A Sale and Purchase Agreement for land subject to development was signed on 24/09/1447H, corresponding to 13/03/2026G, for the acquisition of ownership of a property located in Makkah with a total area of thirty-six thousand square meters and one square centimeter (36,000.01). The transaction value amounts to three hundred fifty-five million Saudi Riyals ( 355,000,000), with the consideration to be paid in-kind.

The procedures related to the agreement are to be completed within ninety business days, which may be extended by written agreement between the parties. The agreement is conditional upon fulfilling all required conditions, including but not limited to the following:

(a) Completion of the procedures to increase the total assets of the Fund through the offering of additional units via the acceptance of in-kind contributions.

(b) Completion of legal, technical, and financial due diligence on the land.

(c) Providing the Fund with updated copies of the regulatory licenses and certificates related to the land, including but not limited to development permits and building permits.

3) Jazan Property:
An agreement was reached to renew the term of the Memorandum of Understanding for sixty business days starting from 24/09/1447H, corresponding to 13/03/2026G. The term is renewable by written agreement between the parties in order to complete the study of the potential acquisition of a usufruct right for a property located in Jazan with a total area of thirty-two thousand two hundred ninety-three square meters and twenty-three square centimeters (32,293.23).

MEFIC Capital will announce any subsequent developments in due course.