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The Saudi Paper Manufacturing Company announces a number of fundamental developments related to the purpose of developing the company and improving its performance

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Announcement Detail The Saudi Paper Manufacturing Company would like to announce the latest developments including the company's announcement on the Tadawul website on 11/19/2020 AD regarding the issuance prospectus to increase the capital in order to develop the company and improve its performance. Quotations were obtained for the second machine from major international specialized companies. In this field, technical comparisons are currently being completed, and it is expected that the Memorandum of Understanding will be signed during the next three months, God willing, to increase production capacity by 30 thousand tons annually, and with regard to the Roots Factory in Kuwait, the company has established a new production unit for the final product with a production capacity estimated at 350 tons per month and the company has started the initial experiments to run gradually and it is expected that the start of production at full capacity will be in the third quarter of 2021, and this will have a positive impact on the company's results.

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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