Maharah Human Resources Company (“Maharah”) announces the latest updates regarding the singing of a non-binding MOU between its 100% owned subsidiary – Growth Avenue Investment Company (“GAC”) – and shareholders of Saudi Medical Systems Company (“SMS”) to acquire 40% of their shares in SMS.

Maharah Human Resources Company (“Maharah”) announces the latest updates regarding the singing of a non-binding MOU between its 100% owned subsidiary – Growth Avenue Investment Company (“GAC”) – and shareholders of Saudi Medical Systems Company (“SMS”) to acquire 40% of their shares in SMS.

|Element List||Explanation|

|Introduction||Reference is made to Maharah's announcement on Tadawul website on 01 Dhul Hijjah 1443 H, corresponding to 30 June 2022 G, regarding GAC receiving the General Authority of Competition’s non-objection to complete economic concentration between Growth Avenue Investment Company (“GAC") and Saudi Medical Systems Company (“SMS”). Maharah is pleased to announce that GAC has completed closure of the acquisition of 40% of shares in SMS on 20 Muharram 1444H, corresponding to 18 August 2022G, and payment of acquisition consideration of SR 426.5 million in cash to SMS selling shareholders. Title to acquired shares was transferred to GAC and update to shareholders register was completed at the Ministry of Commerce.|

|Previous Announcement||Receiving General Authority of Competition’s non-objection to complete economic concentration between Growth Avenue Investment Company and Saudi Medical Systems Company.|

|Date of Previous Announcement on Tadawul's Website||2022-06-30 Corresponding to 1443-12-01|

|Percentage of fulfilled achievement||100% of the acquisition process|

|Event's Expected Completion Date||NA|

|Reasons for Exceeding the Announced End Date||NA|

|The costs associated with the event, and if they have changed or not with indication of the reasons.||NA|

|Impact of the Delay on the Company's Financial Results||NA|

|Additional Information||The transaction was financed in 15% from Maharah’s own funds, and the remaining via bank loans from Alrajhi Bank and