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Almarai Company Announces that one of its subsidiaries has acquired an Additional Stake in Modern Food Industries (“MFI”)

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Announcement Detail Almarai Company ("The Company") announces that one of its subsidiaries (Western Bakeries Company, Limited Liability Company) has completed the acquisition of an additional 15.0% stake owned by Olayan Financing Company in Modern Food Industry LLC (a subsidiary company), for a total value of SAR 150 million. After this acquisition, the ownership of the shares of Western Bakeries Company became 75.0% of the capital of the Modern Food Industry LLC.

MFI is engaged in manufacturing and sale of long shelf-life Bakery products, under the brand name of “7DAYS”.

This transaction was fully financed from Almarai’s operating cash flows. The financial impact will be reflected in this Quarter financial results.

Note that there are no related parties in this acquisition.

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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