Announcement by BAAN Holding Group on Obtaining a License to Provide Services for Foreign Pilgrims

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Announcement Detail	BAAN Holding Group ("the Company") announces that it has received, on 05/08/2026, a license from the Ministry of Hajj and Umrah to engage in the activity of providing services to pilgrims for a period of five years, valid until the end of the Hajj season of 1452H, and renewable in accordance with the provisions of the applicable regulations. Description of the material development: Obtaining this license represents a strategic step within the Company’s plans to diversify its operational and investment activities and expand into sectors related to serving the Guests of Allah, in line with the objectives of Saudi Vision 2030. This license enables the Company to provide, organize, and operate services for foreign pilgrims in accordance with the laws, regulations, and instructions issued by the Ministry of Hajj and Umrah and the relevant authorities, coordinate with accredited service providers, and provide integrated services and solutions to the Guests of Allah. The license also represents a valuable addition to the Company’s portfolio of activities and enhances its ability to expand in one of the strategic sectors and benefit from the investment and operational opportunities available in this sector, supporting the Company’s objectives of diversifying its business, building sustainable operating income streams, and enhancing its long-term growth. This development comes amid the continued growth of the Hajj sector, supported by the objectives of Saudi Vision 2030 and the Pilgrim Experience Program, which aims to enhance the experience of pilgrims performers and increase their numbers, thereby expanding the opportunities available in this sector and creating a favorable environment for the future growth of the Company’s business. Reasons and justifications for the event: The acquisition of this license is in line with the Company’s strategy to diversify its operational and investment activities and expand into high-growth sectors, thereby enhancing its revenue streams and creating sustainable growth opportunities, leveraging its five decades of experience in the hospitality, hotel, and catering sectors. The expected impact on the Company's operations: The license is expected to expand the Company’s business scope through the addition of services for foreign pilgrims to its operating activities, thereby enhancing the diversity of its service offerings and creating new opportunities for growth and expansion within the Hajj sector. It is also expected to strengthen the Company’s presence within the Guests of Allah services ecosystem in a manner consistent with its strategic plans and future growth objectives. The expected financial impact: The expected financial impact of this license cannot be determined at the present time, as it will depend on the volume of operational activities generated from the licensed activity. Additional information: The Company is currently completing the necessary operational arrangements to commence the licensed activity and capitalize on the opportunities provided by the license. Related Parties: There are no related parties to this event.

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Explanation

Announcement Detail

BAAN Holding Group ("the Company") announces that it has received, on 05/08/2026, a license from the Ministry of Hajj and Umrah to engage in the activity of providing services to pilgrims for a period of five years, valid until the end of the Hajj season of 1452H, and renewable in accordance with the provisions of the applicable regulations.

Description of the material development:

Obtaining this license represents a strategic step within the Company’s plans to diversify its operational and investment activities and expand into sectors related to serving the Guests of Allah, in line with the objectives of Saudi Vision 2030.

This license enables the Company to provide, organize, and operate services for foreign pilgrims in accordance with the laws, regulations, and instructions issued by the Ministry of Hajj and Umrah and the relevant authorities, coordinate with accredited service providers, and provide integrated services and solutions to the Guests of Allah.

The license also represents a valuable addition to the Company’s portfolio of activities and enhances its ability to expand in one of the strategic sectors and benefit from the investment and operational opportunities available in this sector, supporting the Company’s objectives of diversifying its business, building sustainable operating income streams, and enhancing its long-term growth.

This development comes amid the continued growth of the Hajj sector, supported by the objectives of Saudi Vision 2030 and the Pilgrim Experience Program, which aims to enhance the experience of pilgrims performers and increase their numbers, thereby expanding the opportunities available in this sector and creating a favorable environment for the future growth of the Company’s business.

Reasons and justifications for the event:

The acquisition of this license is in line with the Company’s strategy to diversify its operational and investment activities and expand into high-growth sectors, thereby enhancing its revenue streams and creating sustainable growth opportunities, leveraging its five decades of experience in the hospitality, hotel, and catering sectors.

The expected impact on the Company's operations:

The license is expected to expand the Company’s business scope through the addition of services for foreign pilgrims to its operating activities, thereby enhancing the diversity of its service offerings and creating new opportunities for growth and expansion within the Hajj sector. It is also expected to strengthen the Company’s presence within the Guests of Allah services ecosystem in a manner consistent with its strategic plans and future growth objectives.

The expected financial impact:

The expected financial impact of this license cannot be determined at the present time, as it will depend on the volume of operational activities generated from the licensed activity.

Additional information:

The Company is currently completing the necessary operational arrangements to commence the licensed activity and capitalize on the opportunities provided by the license.

Related Parties:

There are no related parties to this event.