Kingdom Holding Company announces the latest development on its investment in SpaceX

KHC currently holds 42,408,860 shares of SpaceX Class A Common Stock with a carrying value of USD 4.47 billion (SAR 16.76 billion) as per KHC’s financial statement as at 31 Mar 2026. Based on the Friday closing share price of USD 160.95 per share, the fair value of KHC's stake is approximately USD 6.83 billion (SAR 25.60 billion).

In accordance with the terms of the IPO, the SpaceX shares held by KHC are subject to a lock-up period of up to 180 days from the date of listing, with certain early release provisions, subject to conditions including SpaceX's earnings releases and share price performance thresholds.

KHC has been a long-term investor in this asset since its initial investment in Twitter (now X) in 2011, coupled with the early investment in xAI, which subsequently absorbed X and was later merged with SpaceX, and KHC continues to believe in long-term potential of SpaceX. The investment is classified in the Company's non-current assets as an investment at fair value through other comprehensive income (FVOCI).

Following the successful listing, the Company notes that this IPO event may result in the reclassification of its SpaceX investment from Level 3 to Level 1 within the IFRS 13 fair value hierarchy, as the shares are now traded on an active market. Going forward, the investment will be fair valued based on the prevailing share price at each reporting period.