Saudi Automotive Services Company (SASCO) announces the Receipt of a Notice from investment fund Regarding the Fair Value of its Investment in xAI as of June 30, 2026

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Announcement Detail	Saudi Automotive Services Company (SASCO) announces that on August 5, 2026, after the announcement of its interim financial statements for the second quarter of 2026, SASCO received from investment fund the fair value of the Company’s investment in xAI as follows: • Investment value as of June 30, 2026, is USD 56.9 million, before deducting the lack of marketability discount according to (IFRS). • Investment value recognized in the Company’s financial statements and announced for the second quarter of 2026, is USD 36 million before deducting the lack of marketability discount (USD 28.8 million after the discount). • Gain resulting from the valuation difference is USD 20.9 million before deducting the lack of marketability discount (USD 16.7 million after the discount), equivalent to SAR 62.6 million. • The fair value of the investment will be updated in SASCO’s third quarter 2026 financial statements in accordance with the updated valuation to be received by the Company from the Fund on that date.

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Explanation

Announcement Detail

Saudi Automotive Services Company (SASCO) announces that on August 5, 2026, after the announcement of its interim financial statements for the second quarter of 2026, SASCO received from investment fund the fair value of the Company’s investment in xAI as follows:

• Investment value as of June 30, 2026, is USD 56.9 million, before deducting the lack of marketability discount according to (IFRS).

• Investment value recognized in the Company’s financial statements and announced for the second quarter of 2026, is USD 36 million before deducting the lack of marketability discount (USD 28.8 million after the discount).

• Gain resulting from the valuation difference is USD 20.9 million before deducting the lack of marketability discount (USD 16.7 million after the discount), equivalent to SAR 62.6 million.

• The fair value of the investment will be updated in SASCO’s third quarter 2026 financial statements in accordance with the updated valuation to be received by the Company from the Fund on that date.