Element List	Explanation
Introduction	Red Sea International Company (“The Company”) announces its Board of Director resolution by circulation on 16/03/2026 AD corresponding 27/09/1447 AH to recommend to the Extraordinary General Assembly to increase the Company’s share capital by SAR 280,000,000 representing 58% of its current capital through a rights issue (“Rights Offering”).
Date of Board Meeting	2026-03-16 Corresponding to 1447-09-27
Target Amount	280,000,000 SAR
Reasons for the increase	To support the Company’s future expansion plans, provide the necessary working capital to strengthen its financial position, and contribute to the financing and implementation of its future projects.
Eligibility date	Shareholders holding shares on the date of the Extraordinary General Assembly meeting in which capital increase through the issuance of right issues was resolved whose names so appear in the register of the Issuer’s Shareholders at the Depository Center at the end of the second trading day following the date of the General Assembly’s Meeting.
Approvals	The Board’s recommendation is subject to the approval of the relevant regulatory authorities and company shareholders at the EGM
Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA	Alinma Capital Company has been appointed as the financial advisor for the Rights Offering and the submission of the capital increase application. Also, an announcement will be made when the capital increase application file is submitted to the Capital Market Authority, and any future developments in this regard.
Additional Information	This capital increase is subject to a regulatory lock-up period of six (6) months from the date of the Company’s last capital increase, in accordance with the rules and regulations issued by the Capital Market Authority, with the Board of Directors committed not to submit the capital increase application to the Authority before the expiry of the aforementioned regulatory period.