Saudi Chemical Co. announces signing a Memorandum of Understanding with EXPAL Systems

Saudi Chemical Co. announces signing a Memorandum of Understanding with EXPAL Systems

|Element List||Explanation|

|Introduction||Riyadh, Saudi Arabia - March 09, 2022 - Saudi Chemical Company Holding (SCCH), through its subsidiary Saudi Chemical Company Limited announces signing a Memorandum of Understanding (MOU) with EXPAL Systems for the localization of ammunition filling.|

|Memorandum Signing Date||2022-03-09 Corresponding to 1443-08-06|

|Counterparty||EXPAL Systems|

|Memorandum Subject|| Localize production of military projectiles within its Military Industries Complex in Atshanah -Riyadh, to improve supply chains integration.

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Through this agreement the company aims to diversify local military industries, increase local content, enhance supply chain and drive non-oil economic development towards achieving the kingdom of Saudi Arabia’s Vision 2030 goals.

|Memorandum Duration||One year|

|Related Parties||There are no related parties|

|Financial Impact||The financial impact of this announcement cannot be determined|