Alwasail Industrial Company announced for the distinguished shareholders that it has signed financing agreement with Saudi Industrial Development Fund (SIDF) as follows: Date of obtaining the funding: October 23, 2022. Financing amount: SAR 34.9 Million. The loan will be repaid in 13 unequal, semi-annual installments, over a period of seven years, as agreed with SIDF.

Plant assets will be mortgaged to SIDF as well as signing of a promissory note at the benefit of SIDF. Financing objective: Financing the development of infrastructure for the polyethylene pipelines manufacturing by replacing some production lines and expanding new industrial technologies and buying machines and machines to raise production capacity and improve the quality of products in the company's factories in the first industrial city of Buraidah - Saudi Arabia. Any major development related to the loan facility from SIDF will be announced as per related regulations and instructions.