The United International Transportation Company (Budget Saudi) announces the latest developments regarding the signing of a memorandum of understanding by one of its subsidiaries regarding the potential acquisition of (70%) of the shares of the Overseas Development Holding Company in its subsidiaries in the Kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait

The United International Transportation Company (Budget Saudi) announces the latest developments regarding the signing of a memorandum of understanding by one of its subsidiaries regarding the potential acquisition of (70%) of the shares of the Overseas Development Holding Company in its subsidiaries in the Kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait

|Element List||Explanation|

|Introduction|| Referring to the announcement of the United International Transportation Company (Budget Saudi), which was published on the Tadawul website on 03/16/2023, regarding the latest developments regarding the signing of a memorandum of understanding by one of its subsidiaries regarding the potential acquisition of (70%) of the Overseas Development Holding in its subsidiaries in the Kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait.

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United International Transportation Company would like to announce that the sale and purchase agreement has been signed to acquire 70% of the Overseas Development Company Limited shares in the Kingdom of Saudi Arabia.

The acquisition amount was based on the financial evaluation of the acquisition, as the value of the acquired stake amounted to 126.4 million Saudi riyals.

|Previous Announcement||The United International Transportation Company (Budget Saudi) announces the latest developments regarding the signing of a memorandum of understanding by one of its subsidiaries regarding the potential acquisition of (70%) of the shares of the Overseas Development Holding Company in its subsidiaries in the Kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait|

|Date of Previous Announcement on Tadawul's Website||2023-03-16 Corresponding to 1444-08-24|

|Percentage of fulfilled achievement||93.3%|

|Event's Expected Completion Date||Upon completion of the