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Saudi Arabian Mining Company (Ma'aden) Announces an update on the signing of contract with Daelim Industrial Limited and Saudi Daelim Limited.

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Introduction Further to the Company’s announcement on 13/02/1440 AH corresponding to 22/10/2018 AD, regarding signing contract with Daelim Industrial Limited and Saudi Daelim Limited to construct a third ammonia plant, which is a part of Phosphate 3 Project.

Saudi Arabian Mining Company (Ma’aden) is pleased to announce the completion of the construction and pre-commissioning activities of the entire Ammonia Plant and start the trial production. The financial impact will appear after the completion of the trial production and start the commercial production, which is expected in the third quarter of 2022.

Previous Announcement signing contract with Daelim Industrial Limited and Saudi Daelim Limited.
Date of Previous Announcement on Tadawul's Website 2018-10-22 Corresponding to 1440-02-13
Percentage of fulfilled achievement 100%
Event's Expected Completion Date 1st quarter of 2022
Reasons for Exceeding the Announced End Date N/A
The costs associated with the event, and if they have changed or not with indication of the reasons. There is no change in the scope of the project and therefore the associated costs have not changed.
Impact of the Delay on the Company's Financial Results N/A
Additional Information Worth mentioning that the remaining of the EPC contract signed Daelim Industrial Limited and Saudi Daelim Limited is to test and ensure the performance and reliability of the plant in order to reach the target capacity.

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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