ARMAH Sports Company announced signing a land lease contract with Abdulaziz Saleh Anbar AlAnbar to invest on Mecca Road, in AlHada District - Riyadh, to construct and operate a sports club under the brand owned by ARMAH Sports Company of B_FIT, which will be a club dedicated to men. This investment is part of the company's strategy to expand and grow the major locations to generate the growth and returns that achieve the company's strategy. Date of Signing the Contract is February 24, 2024.

Contract Value: The average annual rental value of the land is SAR 986,213. The total contract value is SAR 19,724,250 (excluding VAT). Contract Details: Renting land on Mecca Road in AlHada district, in Riyadh with an area of 3,351 square meters to operate a sports club for a period of 22 calendar years starting from the date of signing the contract.

Contract Duration: 22 Gregorian years starting from the date of signing the contract. The contract period includes a grace period of two years that does not entail any leasing value.