Element List Explanation Introduction Further to the announcement by Banan Real Estate Company and its subsidiary, Al-Aziziah Investment and Real Estate Development Company, regarding the Board of Directors’ approval to acquire a stake in Qimam Noshz Real Estate Development Company (a simplified joint-stock company) on 22 December 2024. Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website 2024-12-22 Corresponding to 1446-06-21 Hyperlink to the Previous Announcement Click Here Change on the Development The company is pleased to announce the following: 1- Completion of the acquisition of 45% of the capital of Qimam Noshz Real Estate Development Company ( with a total capital of SAR 71 million ) , distributed as follows: Banan Real Estate Company: 23% of the capital. Al-Aziziah Investment and Real Estate Development Company (a subsidiary of Banan Real Estate co.): 22% of the capital. 2- Formation of the Board of Directors for Qimam Noshz Real Estate Development Company during the General Assembly of shareholders on 9 January 2025, as follows: Abdulmohsen Abdulaziz Al-Haqbani: Chairman of the Board of Banan Real Estate. Majid Abdullah Al-Nasser: CEO of Banan Real Estate. Naif Abdullah Al-Sufyan: Board Member of Banan Real Estate. Saad Abdul Allah Al-Hussain. Mohammed Ibrahim Aba Al-Ghunaim. Based on the total ownership percentage of 45%, and with Banan Real Estate Company and its subsidiaries controlling the majority of the board seats, Qimam Noshz Real Estate Development Company is now fully considered a subsidiary of Banan Real Estate Company. Financial Impact on the change The financial statements of Banan Real Estate Company and Qimam Noshz Real Estate Development Company will be consolidated in 2025.