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Saudi Telecom Company –stc- announces the Board of Directors' recommendation to increase stc's capital by granting bonus shares.

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Introduction Saudi Telecom Company’s –stc- Board of Directors recommended to the Extraordinary General Assembly to increase stc’s capital by 150% via granting bonus shares. Such increase will be via capitalizing SAR 30,000 million from the retained earnings. Each shareholder will be granted 1.5 bonus share for each 1 share owned by shareholders at the eligibility date.
Date of Board Meeting 2022-06-11 Corresponding to 1443-11-12
Capital before increase 20,000,000,000
Capital after increase 50,000,000,000
Percentage of Capital increase 150 %
Number of shares before Capital increase 2000000000
Number of shares after Capital increase 5000000000
Reasons for the increase The increase in stc’s capital will support achieving its growth and expansion strategy along with maximizing its shareholders’ return thru increasing and diversifying stc’s investments and seizing the expected growth opportunities in the telecommunication & technology sector in the Kingdom of Saudi Arabia and the region.
Number of Shares Granted per Exiting Share Granting 1.5 share for each 1 share
Nature and Value of Reserves Used in the Capitalization The increase will be through capitalizing SAR 30,000,000,000 from the retained earnings.
Eligibility Date The eligibility date shall be for shareholders owning shares by the end of trading day of the Company’s Extraordinary General Assembly meeting date (which will be announced later) and are registered at Securities Depository Center Company (Edaa) by the end of the second trading day following the Extraordinary General Assembly meeting date.
Fractional Shares In case of bonus shares fractions occurrence, stc will collect all fractions in a single portfolio to be sold at market price, the value will be distributed to eligible shareholders each by their ownership percentage during 30 days from the allocation of new shares to each shareholder.
Approvals The proposed grant remains subject to obtaining necessary approvals from competent authorities and Extraordinary General Assembly on the capital increase and number of granted shares.

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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