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Asas Makeen has scheduled an Extraordinary General Assembly meeting for May 21, 2026, to vote on a 200% capital increase from SAR 100 million to SAR 300 million.
The capital increase will be executed by granting two bonus shares for every share held, funded through the capitalization of SAR 200 million from retained earnings.
The agenda includes voting on several related party transactions, most notably construction contracts with Tashyeed Hayat Contracting Company totaling SAR 355.5 million.
Shareholders will consider a recommendation to transfer the company's general reserve balance of SAR 14.1 million into retained earnings.

Element List	Explanation
Introduction	-
City and Location of the Extraordinary General Assembly's Meeting	In Riyadh, at the Company’s headquarters, via modern technology means, through the use of the Tadawulaty system.
Hyperlink of the Meeting Location	Click Here
Date of the General Assembly's Meeting	2026-05-21 Corresponding to 1447-12-04
Time of the General Assembly’s Meeting	20:15
Methodology of Convening the General Assembly’s Meeting	Via modern technology means
Attendance Eligibility, Registration Eligibility, and Voting End	Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee.
Quorum for Convening the General Assembly's Meeting	The Extraordinary General Assembly meeting shall be valid if attended by shareholders representing at least half of the share capital. If the required quorum is not met at the first meeting, a second meeting shall be held one hour after the end of the period specified for holding the first meeting, and the second meeting shall be valid if attended by shareholders representing at least one quarter of the share capital.
Meeting Agenda	1. To review the Board of Directors’ report for the fiscal year ending December 31, 2025. 2. To vote on the Company’s external auditor’s report for the fiscal year ending December 31, 2025, following discussion. 3. To review and discuss the Company’s financial statements for the fiscal year ending December 31, 2025. 4. To vote on the appointment of the Company’s external auditor from among the nominees based on the recommendation of the Audit Committee, to review and audit the interim and annual financial statements for the fiscal year 2026, and to determine their fees. 5. To vote on the Board of Directors’ recommendation to increase the Company’s capital through the issuance of bonus shares to shareholders, as follows: * Capital before increase: SAR 100,000,000 * Capital after increase: SAR 300,000,000 * Percentage of increase: 200% * Number of shares before increase: 10,000,000 shares * Number of shares after increase: 30,000,000 shares * The capital increase will be funded through the capitalization of SAR 200,000,000 from retained earnings * Granting two bonus shares for each share held * Objective of the increase: to support the Company’s growth strategy, strengthen its financial position, enable expansion in its real estate activities, and maximize shareholders’ returns In the event of approval, eligibility for bonus shares shall be for shareholders owning shares at the end of trading on the date of the Extraordinary General Assembly meeting and registered in the Company’s shareholders register with the Securities Depository Center (Edaa) at the end of the second trading day following the meeting date. Fractional shares, if any, will be aggregated into a single portfolio, sold at market price, and the proceeds distributed to eligible shareholders pro rata within a period not exceeding 30 days from the date of determining the entitled shares. * Amendment of Article (6) of the Company’s Bylaws (attached) * Amendment of Article (7) of the Company’s Bylaws (attached) 6. To vote on the participation of the Chairman of the Board, Mr. Abdulrahman bin Saud bin Abdulrahman Al-Hudlaq, in a business competing with the Company (attached). 7. To vote on the participation of Board Member Mr. Abdulrahman bin Ibrahim bin Hamad Al-Hudlaq in a business competing with the Company (attached). 8. To vote on the participation of Board Member Mr. Anas bin Saud bin Abdulrahman Al-Hudlaq in a business competing with the Company (attached). 9. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Tashyeed Hayat Contracting Company, in which the Chairman of the Board and the Vice Chairman have an indirect interest. These transactions relate to construction works amounting to SAR 300,000,000 with a duration of 18 months, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 10. To vote on the transactions and contracts entered into between the same parties amounting to SAR 55,500,000 with a duration of 12 months, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 11. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Wathiq Marketing Company, in which the Vice Chairman has an indirect interest. These transactions relate to sales and leasing services amounting to SAR 10,000,000 for a period of 365 days, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 12. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Shajarat Al-Ghar Hotel Services Company, in which the Chairman of the Board, the Vice Chairman, and a Board Member have indirect interests. These transactions relate to a residential building lease contract amounting to SAR 35,000,000 for a period of 5 years, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 13. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Asas Al-Tamasuk Aluminum Company, in which the Chairman of the Board and a Board Member have indirect interests. These transactions relate to aluminum works and expenses incurred on behalf of the Company, with a total value of SAR 1,233,226 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 14. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Bareeq Integrated Operation and Maintenance Company, in which the Vice Chairman has an indirect interest. These transactions relate to expenses incurred on behalf of the Company, totaling SAR 121,496 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 15. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Dhura Holding Company, in which the Chairman of the Board, the Vice Chairman, and a Board Member have indirect interests. These transactions relate to expenses incurred on behalf of the Company, totaling SAR 83,524 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 16. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Awtaad Al-Thiqa Contracting Company, in which the Chairman of the Board has an indirect interest. These transactions relate to expenses incurred on behalf of the Company, totaling SAR 8,765 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached). 17. To vote on the Board of Directors’ recommendation to transfer the general reserve balance amounting to SAR 14,078,166 to retained earnings. 18. To vote on delegating the powers of the Ordinary General Assembly to the Board of Directors as set out in Paragraph (1) of Article (27) of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the Board’s term, whichever is earlier, in accordance with the conditions set out in the implementing regulations of the Companies Law for listed joint stock companies.
Proxy Form	Proxy Form
The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right	Shareholders have the right to discuss the items listed on the General Assembly’s agenda and to raise questions. Registered shareholders in Tadawulaty services may also vote remotely via the following link: [www.tadawulaty.com.sa](http://www.tadawulaty.com.sa)
Details of the electronic voting on the Assembly’s agenda	Registered shareholders in Tadawulaty services will be able to vote remotely on the General Assembly agenda items through the e-voting service, starting from 1:00 a.m. on Monday, 01 Dhu Al-Hijjah 1447H (according to the Umm Al-Qura calendar), corresponding to 18 May 2026, and until the end of the discussion of all agenda items. Registration and voting through Tadawulaty services will be available free of charge to all shareholders via the following link: ([www.tadawulaty.com.sa](http://www.tadawulaty.com.sa)).
Method of Communication in Case of Any Enquiries	For inquiries, please contact Shareholder Relations by phone at: 0112112983, extensions: 101 and 103. You may also direct your inquiries via email at: [IR@asasmakeen.com](mailto:IR@asasmakeen.com).
Attached Documents	Attached Documents Attached Documents Attached Documents Attached Documents

Element List

Explanation

Introduction

City and Location of the Extraordinary General Assembly's Meeting

In Riyadh, at the Company’s headquarters, via modern technology means, through the use of the Tadawulaty system.

Hyperlink of the Meeting Location

Click Here

Date of the General Assembly's Meeting

2026-05-21 Corresponding to 1447-12-04

Time of the General Assembly’s Meeting

20:15

Methodology of Convening the General Assembly’s Meeting

Via modern technology means

Attendance Eligibility, Registration Eligibility, and Voting End

Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee.

Quorum for Convening the General Assembly's Meeting

The Extraordinary General Assembly meeting shall be valid if attended by shareholders representing at least half of the share capital. If the required quorum is not met at the first meeting, a second meeting shall be held one hour after the end of the period specified for holding the first meeting, and the second meeting shall be valid if attended by shareholders representing at least one quarter of the share capital.

Meeting Agenda

1. To review the Board of Directors’ report for the fiscal year ending December 31, 2025.

2. To vote on the Company’s external auditor’s report for the fiscal year ending December 31, 2025, following discussion.

3. To review and discuss the Company’s financial statements for the fiscal year ending December 31, 2025.

4. To vote on the appointment of the Company’s external auditor from among the nominees based on the recommendation of the Audit Committee, to review and audit the interim and annual financial statements for the fiscal year 2026, and to determine their fees.

5. To vote on the Board of Directors’ recommendation to increase the Company’s capital through the issuance of bonus shares to shareholders, as follows:

* Capital before increase: SAR 100,000,000

* Capital after increase: SAR 300,000,000

* Percentage of increase: 200%

* Number of shares before increase: 10,000,000 shares

* Number of shares after increase: 30,000,000 shares

* The capital increase will be funded through the capitalization of SAR 200,000,000 from retained earnings

* Granting two bonus shares for each share held

* Objective of the increase: to support the Company’s growth strategy, strengthen its financial position, enable expansion in its real estate activities, and maximize shareholders’ returns

In the event of approval, eligibility for bonus shares shall be for shareholders owning shares at the end of trading on the date of the Extraordinary General Assembly meeting and registered in the Company’s shareholders register with the Securities Depository Center (Edaa) at the end of the second trading day following the meeting date. Fractional shares, if any, will be aggregated into a single portfolio, sold at market price, and the proceeds distributed to eligible shareholders pro rata within a period not exceeding 30 days from the date of determining the entitled shares.

* Amendment of Article (6) of the Company’s Bylaws (attached)

* Amendment of Article (7) of the Company’s Bylaws (attached)

6. To vote on the participation of the Chairman of the Board, Mr. Abdulrahman bin Saud bin Abdulrahman Al-Hudlaq, in a business competing with the Company (attached).

7. To vote on the participation of Board Member Mr. Abdulrahman bin Ibrahim bin Hamad Al-Hudlaq in a business competing with the Company (attached).

8. To vote on the participation of Board Member Mr. Anas bin Saud bin Abdulrahman Al-Hudlaq in a business competing with the Company (attached).

9. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Tashyeed Hayat Contracting Company, in which the Chairman of the Board and the Vice Chairman have an indirect interest. These transactions relate to construction works amounting to SAR 300,000,000 with a duration of 18 months, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

10. To vote on the transactions and contracts entered into between the same parties amounting to SAR 55,500,000 with a duration of 12 months, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

11. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Wathiq Marketing Company, in which the Vice Chairman has an indirect interest. These transactions relate to sales and leasing services amounting to SAR 10,000,000 for a period of 365 days, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

12. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Shajarat Al-Ghar Hotel Services Company, in which the Chairman of the Board, the Vice Chairman, and a Board Member have indirect interests. These transactions relate to a residential building lease contract amounting to SAR 35,000,000 for a period of 5 years, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

13. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Asas Al-Tamasuk Aluminum Company, in which the Chairman of the Board and a Board Member have indirect interests. These transactions relate to aluminum works and expenses incurred on behalf of the Company, with a total value of SAR 1,233,226 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

14. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Bareeq Integrated Operation and Maintenance Company, in which the Vice Chairman has an indirect interest. These transactions relate to expenses incurred on behalf of the Company, totaling SAR 121,496 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

15. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Dhura Holding Company, in which the Chairman of the Board, the Vice Chairman, and a Board Member have indirect interests. These transactions relate to expenses incurred on behalf of the Company, totaling SAR 83,524 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

16. To vote on the transactions and contracts entered into between Asas Makin Real Estate Development and Investment Company and Awtaad Al-Thiqa Contracting Company, in which the Chairman of the Board has an indirect interest. These transactions relate to expenses incurred on behalf of the Company, totaling SAR 8,765 during 2025, conducted in the ordinary course of business and in accordance with prevailing commercial terms, without any preferential terms or benefits (attached).

17. To vote on the Board of Directors’ recommendation to transfer the general reserve balance amounting to SAR 14,078,166 to retained earnings.

18. To vote on delegating the powers of the Ordinary General Assembly to the Board of Directors as set out in Paragraph (1) of Article (27) of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the Board’s term, whichever is earlier, in accordance with the conditions set out in the implementing regulations of the Companies Law for listed joint stock companies.

Proxy Form

The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right

Shareholders have the right to discuss the items listed on the General Assembly’s agenda and to raise questions.

Registered shareholders in Tadawulaty services may also vote remotely via the following link: [www.tadawulaty.com.sa](http://www.tadawulaty.com.sa)

Details of the electronic voting on the Assembly’s agenda

Registered shareholders in Tadawulaty services will be able to vote remotely on the General Assembly agenda items through the e-voting service, starting from 1:00 a.m. on Monday, 01 Dhu Al-Hijjah 1447H (according to the Umm Al-Qura calendar), corresponding to 18 May 2026, and until the end of the discussion of all agenda items. Registration and voting through Tadawulaty services will be available free of charge to all shareholders via the following link: ([www.tadawulaty.com.sa](http://www.tadawulaty.com.sa)).

Method of Communication in Case of Any Enquiries

For inquiries, please contact Shareholder Relations by phone at: 0112112983, extensions: 101 and 103.

You may also direct your inquiries via email at: [IR@asasmakeen.com](mailto:IR@asasmakeen.com).

Attached Documents

Attached Documents Attached Documents Attached Documents Attached Documents

Asas Makeen Real Estate Development and Investment Co. calls its shareholders to attend the Extraordinary General Assembly meeting which include the Increase of the company’s capital ( First Meeting )