Watani Iron Steel Co. Announces Rescheduling Long Term offered by Saudi Industrial Development Fund (SIDF)

Watani Iron Steel Co. Announces Rescheduling Long Term offered by Saudi Industrial Development Fund (SIDF)

|Element List||Explanation|

|Introduction||Watani Iron and Steel Company announces that it has obtained the approval of the Saudi Industrial Development Fund on 06/08/2022 AD to reschedule the remaining amount of the payment due on 05/17/2022 AD for an additional two months|

|Date of singing the rescheduling of finance||2022-06-08 Corresponding to 1443-11-09|

|Financing entity||Saudi Industrial Development Fund (SIDF)|

|Reasons for rescheduling||Financial Support|

|The Financing amount and rescheduled part||The total loan agreement amounted to 164,005,000 SAR, of which 130,505,000 SAR were paid, and the scheduled payment was 9,250,000 SAR, which was rescheduled for an additional two months.|

|Financing Duration, before and after Rescheduling||The date of paying the remaining amount of the due payment has been extended for an additional two months, from 05/17/2022 AD to 07/14/2022 AD|

|Guarantees offered for the rescheduled Financing||Continuing mortgage of fixed assets and a promissory note.|

|Related Parties||None|