Red Sea International Co. Announces the Decrease of its Accumulated Losses to 8.5 % of the Capital

This step comes as part of the Company’s ongoing efforts to restructure its financial position and enhance growth and profitability levels. This was achieved based on the successful completion of the debt conversion process, in addition to utilizing the share premium balance resulting from such increase to offset the accumulated losses.

Accordingly, the Company informs its valued shareholders that it is no longer classified among companies with accumulated losses amounting to 20% or more of its capital. Based on this, the red mark next to the Company’s name on the Tadawul trading screen will be removed, as the reasons for its appearance no longer exist.

The Company affirms that this fundamental transformation reflects the success of its capital restructuring process, which has strengthened its financial position and enhanced its ability to expand, primarily driven by the strategic contracts previously announced and signed by the Company.

In this regard, the Company also clarifies that its subsidiary, The Fundamental Installation for Electric Work Co. (First Fix), is currently working on completing its listing on the Main Market (TASI), as previously announced on 29/12/1446H (corresponding to 25/06/2025), which is expected to support the Company’s sustainability and expand the scope of its operations and client base.