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Mobile Telecommunications Company Saudi Arabia ("Zain KSA") announces the Board of directors' approval of the non-binding offers ("The offers") received from the Public Investment Fund ("PIF"), HRH Prince Saud Bin Fahad, and Sultan Holding Company, to acquire stakes in the Zain KSA towers infrastructure.

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Announcement Detail Mobile Telecommunications Company Saudi Arabia ("Zain KSA") announces the Board of directors' approval of the non-binding offers ("The offers") received from the Public Investment Fund ("PIF"), HRH Prince Saud Bin Fahad, and Sultan Holding Company, to acquire stakes in the Zain KSA towers infrastructure. The three entities would acquire 60%, 10% and 10% stake respectively while Zain KSA will own the remaining 20% stake. The offers valued the 8,069 Zain KSA towers at SAR 3,026 million (USD 807 million).

Under the terms of The offers, Zain KSA will sell its passive, physical towers infrastructure and retain all other wireless communication antennas, software, technology, and IPs.

Zain KSA will be working with the different parties on the best way to execute the offer. The Offers submitted do not represent any binding commitment and the final agreements are subject to the approval of the official authorities, internal approvals of the respective acquirers, the completion of satisfactory due diligence by the acquirers and any other conditions that may be agreed between the parties.

Any material developments will be announced in due course.

The Capital Market Authority and the Saudi Stock 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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