National Company for Learning and Education announces the construction project of educational complex for the Company in Hetteen district-Riyadh

National Company for Learning and Education announces the construction project of educational complex for the Company in Hetteen district-Riyadh

|Element List||Explanation|

|Introduction|| In reference to the National Company for Learning and Education “NCLE” announcement on 17/03/1444H corresponding to 13/10/2022G regarding its signing a land lease contract with an area of 12.6 thousand m2 for a period of 26 years and 6 months in Hetteen district - Riyadh, NCLE announces the Board of Directors’ approval on 13/09/1444H Corresponding to 04/04/2023G on the construction project of the Educational Complex for NCLE (Educational Complex) on the land located in Hetteen district-Riyadh.

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The estimated total built-up area of the educational complex is 20 thousand m2, with an estimated capacity of 2,000 male and female students, at an estimated cost of SR 57 million which includes the construction works, air conditioning, elevators, theatre, furnishing, technical devices and other equipment for the educational complex. The educational complex will start operating from the academic year 2024/2025.

This investment is part of the company's strategy to expand and grow the student base in order to generate the growth and returns that achieve the company's strategy.

|Date of Board Resolution in Regard to the Project||2023-04-04 Corresponding to 1444-09-13|

|Project Start Date||During the third quarter of the fiscal year 2022/2023.|

|Project Cost||The total estimated cost of the project is SR 57 million.|

|Financing method for the