PIF enters into an agreement to invest in Tamimi Markets, one of Saudi Arabia’s leading grocery chains

PIF enters into an agreement to invest in Tamimi Markets, one of Saudi Arabia’s leading grocery chains

PIF Enters into an Agreement to Invest in Tamimi Markets, One of Saudi Arabia’s Leading Grocery Chains PIF will become a shareholder with 30% ownership of Tamimi Markets by way of a capital increase and subscription of new shares Investment is expected to accelerate Tamimi Markets’ ambitions to become a national champion and major regional grocery chain Investment aligns with PIF’s strategy to enable the private sector, further strengthening Saudi presence in a critical sector Since 2017, PIF has established 77 companies and has created more than half a million direct and indirect jobs. RIYADH, KSA – The Public Investment Fund (“PIF”) announced today the signing of a share subscription agreement (the “Agreement”) to invest in Tamimi Markets Company LLC (“Tamimi Markets” or “the Company”), one of Saudi Arabia’s leading grocery store chains, by way of a capital increase and subscription for new shares. The signing of this Agreement aligns with PIF’s strategy to enable the private sector and create Saudi national champions. Pursuant to the Agreement, PIF will become a shareholder with a 30% stake in the entire share capital of Tamimi Markets, after obtaining approvals from the relevant authorities and satisfying certain conditions under the Agreement. PIF owns