Derayah Financial Announces the Occurrence of an Event to Derayah REIT

Element ListExplanation
Introduction Derayah Financial (the “Fund Manager”) in its capacity as the Fund Manager of Derayah REIT (the “Fund”) announces Board of Director’s approval to restructure Fund’s existing financing.
Description of the Event As per the Fund’s audited financial statements of Dec 31st 2021, Fund’s financing reached SAR748 million. The financing’s maturity is staggered in 2026 and 2027.

The Fund Manager reached an agreement with a local bank to restructure existing financing as per the following main terms:

- Reduce profit spread by approximately 20%.

- Extend the financing maturity date to seven years from financing drawdown date.

This would also require transferring the mortgage on the title deeds to the new financier.

The Impact Caused by the Event Financing restructuring will result in reducing Fund’s financing expenses, which will have a positive impact in the second half of 2022

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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