United Wire Factories Co. announces the results of the Sixteenth Extraordinary General Assembly Meeting, which included the approval of reducing the company’s capital (first meeting)

– Mr. Khaled Saad Abdul Rahman Al-Kanhal (Chairman of the Board of Directors – Chairman of the Executive Committee – Member of the Nominations and Remunerations Committee)

– Dr. Rashid Rashid Saad bin Awain (Vice Chairman of the Board of Directors – Chairman of the Nominations and Remunerations Committee)

– Mr. Khaled Mohammed Abdullah Al-Khowiter (Member of the Board of Directors – Chairman of the Audit Committee)

– Mr. Youssef Abdullah Ibrahim Al Mutlaq (Board Member – Audit Committee Member – Executive Committee Member)

– Mr. Abdullah Saad Abdullah Al-Dosari (Board Member – Executive Committee Member)

– Mr. Turki Muhammad Fuhaid Al-Quraini (Board Member – Member of the Nominations and Remuneration Committee)

– Mr. Faisal Musaed Abdul Mohsen Al Hokair (Member of the Board of Directors)

Dr. Rashid Rashid Saad Bin Awain (Chairman of the Nominations and Remunerations Committee)

Mr. Khaled Mohammed Abdullah Al-Khowiter (Chairman of the Audit Committee)

A- The capital before reduction is 351,000,000 SAR, and after reduction will be 280,800,000 SAR.

B- Reduction Percentage: 20% of the Company’s capital.

C- The number of shares before reduction is 35,100,000 shares, and after reduction will be 28,080,000 shares.

D- Reduction Ratio: One (1) share for every two (5) shares.

E- Reasons for Capital Reduction: The capital exceeds the Company’s need.

F- Method of Capital Reduction: Writing off 7,020,000 shares and compensating the eligible shareholders with the nominal value of (10) SAR for each canceled share.

G- Impact of the Capital Reduction on the Company’s Obligations: There is no material impact of the capital reduction on the Company’s financial or operating obligations, operations, or performance. The management expects the reduction to positively impact the ratios of the Company’s performance and profitability indicators.

H- Funding Reduction Process: The Company will finance the capital reduction process from its own resources.

I- Reduction Date: In case the Company’s shareholders, in the Extra-Ordinary General Assembly Meeting, approve on reducing the Company’s capital, the reduction resolution will be effective for all the Company’s shareholders who are registered in the Company’s Shareholders’ Register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date The approval of the extraordinary general assembly to reduce the capital.

J- Amending Article No. (7) of the Company’s Articles of Associations relating to the (Share Capital of the Company).

K- Amending Article No. (8) of the Company’s Articles of Associations relating to the (Subscription to Shares).

2- Approval amend the Articles of Association of the company to comply with the new Companies Law, and to rearrange the Articles of Association and their numbering to comply with the proposed amendments.