Saudi Telecom Company (stc) announces the latest development regarding the signing of a memorandum of understanding (MoU) with Future Artificial Intelligence Company (HUMAIN) to establish a joint venture through its subsidiary, Digital Centers for Data and Telecommunications Company (Center3)

stc would like to announce to its valued shareholders that, due to the expiry of the current MoU and the ongoing negotiations and coordination between the parties, it has been agreed to extend the MoU for an additional 6 months commencing on 18-6-2026. This extension reflects the scale and strategic importance of the project to both parties and the need to complete certain related regulatory and operational requirements, with the aim of finalizing the remaining negotiations and completing all necessary procedures and requirements in preparation for signing the joint venture agreement in line with the targeted plan.

During the past period, the parties have made tangible progress in discussing and finalizing the commercial, operational, and regulatory aspects of the joint venture.

There is currently no material financial impact, and stc will announce any material developments or significant updates related to the project in due course.