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Saudi Arabian Oil Company (“Saudi Aramco” or the “Company”) Announces the Board of Directors' Approval to Repurchase its Shares
| Element List | Explanation |
|---|---|
| Introduction | Saudi Aramco announces the Board of Directors’ (the “Board”) approval, dated 20/09/1447H (corresponding to 09/03/2026G), on the repurchase of a maximum of three hundred fifty million (350,000,000) of the Company’s ordinary shares from the market, to be retained as treasury shares. Pursuant to the resolution, the Company may retain the shares for a maximum period of ten (10) years from the date of purchase without sale or allocation. The Company may repurchase the shares during a period of eighteen (18) months from the date of the resolution, through one or more transactions, and the Company will make an announcement upon the completion of all repurchase transactions. |
| Board of director’s recommendation date | 2026-03-09 Corresponding to 1447-09-20 |
| Purpose of Purchase | To be retained as treasury shares. |
| Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) | For the purpose of allocation to the employee share plan. |
| Number of Shares to be Bought | 350000000 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | The repurchase will be funded from the Company’s internal funds. |
| Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased | 0.04% |
| Approvals and Meeting the Conditions of Financial Appropriateness | In accordance with Saudi Aramco’s bylaws, the Board may by resolution approve the repurchase of shares by the Company, for the purpose of allocating such shares to its employees within employee shares plan or for any other purpose the Board determines in the best interest of the Company. As such, given that the Board approved the repurchase, there is no requirement to obtain extraordinary general assembly approval on the same. The solvency requirements pursuant to Article 17(3) of the Implementing Regulations of the Companies Law for Listed Joint Stock Companies have been satisfied. |
| Voting Right | The shares that the Company repurchases, while retained by the Company, do not have voting rights in the shareholders’ general assembly meetings. |
| Additional Information | The Board has approved the repurchase up to a maximum spend of SAR 11.3 billion ($3 billion). |
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.
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