Announcement by Alinma Investment Company regarding the occurrence of a specific event in Alinma Retail REIT

Announcement by Alinma Investment Company regarding the occurrence of a specific event in Alinma Retail REIT

Alinma Investment Company, in its capacity as the Fund manager of the Alinma Retail REIT Fund, announces the signing of an agreement on 03/13/2024 with Osus Real Estate Company. Accordingly, the Fund will acquire two new real estate properties in exchange for an in-kind portion represented by Al Makan Mall in Riyadh and a cash portion that will be financed through credit facilities. The value of the assets subject to the deal is expected to exceed one billion Saudi riyals. Through this deal, the fund manager aims to increase the fund’s cash flows by achieving optimal use of assets and acquiring new assets using credit facilities. This came after studying market data and analyzing the performance of Al Makan Mall in Riyadh during the last period, where the net returns for the year 2023 amounted to 14 million. SR. The new properties are distinguished by their strategic location in the north of the city of Riyadh. The properties have been newly developed and are intended to be rented to one tenant for each property, which facilitates the collection process and reduces operational costs. The returns on the new assets are expected to