Riyadh Development Company Announces the Results of the Ordinary General Assembly Meeting (First Meeting)

1. Dr. Ibrahim bin Saad Al-Muajjal (Vice Chairman of the Board)

2. Mr. Majid bin Nasser Al-Subaie

3. Mr. Sulaiman bin Nasser Al-Hatlan

4. Mr. Osama bin Farij Al-Owaidi

5. Mr. Nayef bin Ibrahim Al-Hadithi

6. Mr. Abdulrahman bin Ayed Al-Qahtani

The following members sent their apologies for not attending the meeting:

1. His Royal Highness Prince Dr. Faisal bin Abdulaziz bin Ayyaf (Chairman of the Board)

2. Mr. Yazid bin Mohammed Al-Jard

The meeting was chaired by the Vice Chairman of the Board.

1. Mr. Majid bin Nasser Al-Subaie (Chairman of the Executive Committee).

2. Mr. Sulaiman bin Nasser Al-Hatlan (Chairman of the Audit Committee).

3. Mr. Abdulrahman bin Ayed Al-Qahtani (Chairman of the Remuneration and Nominations Committee).

2. Approval was granted for the company’s auditor’s report for the fiscal year ending on 31/12/2025 after discussion.

3. The financial statements for the fiscal year ending on 31/12/2025 were reviewed and discussed.

4. Approval was granted for the appointment of Messrs. Ernst & Young Professional Services – Certified Public Accountants, among the nominated candidates based on the recommendation of the Audit Committee, to examine, review, and audit the financial statements for the second and third quarters and the annual financial statements for fiscal year 2026, the first, second, and third quarters and the annual financial statements for fiscal year 2027, the first, second, and third quarters and the annual financial statements for fiscal year 2028, and the first quarter of fiscal year 2029, for a total fee of SAR 4,425,000 (Four Million Four Hundred Twenty-Five Thousand Saudi Riyals only).

5. Approval was granted to discharge the members of the Board of Directors from liability for the fiscal year ending on 31/12/2025.

6. Approval was granted for the payment of SAR 1,800,000 as remuneration to the members of the Board of Directors for the fiscal year ending on 31/12/2025.

7. Approval was granted for the Board of Directors’ recommendation to distribute cash dividends of SAR 0.25 per share to the company’s shareholders for the second half of 2025, representing 2.5% of the nominal value per share, totaling SAR 58,482,704.50. Eligibility shall be for shareholders owning shares at the close of trading on the day of the General Assembly meeting and registered in the company’s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date. The dividend distribution date will be Monday, 01/06/2026.

8. Approval was granted to authorize the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2026.

9. Approval was granted to delegate to the Board of Directors the authority of the Ordinary General Assembly regarding the license stated in Paragraph (1) of Article Twenty-Seven 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 delegated Board term, whichever comes first, in accordance with the conditions set out in the Executive Regulations of the Companies Law for listed joint-stock companies.

10. Approval was granted for the transactions and contracts concluded during the fiscal year ending on 31 December 2025 between Riyadh Development Company and Tilal Educational Facilities Development Company, in which His Royal Highness Prince Dr. Faisal bin Abdulaziz bin Ayyaf (Chairman of Riyadh Development Company and Chairman of Riyadh Holding Company) has an indirect interest, as both companies are shareholders in Tilal Educational Facilities Development Company. The nature of the transactions includes additional capital contributions, settlement of amounts due to the associate company, financing provided to the associate company, and expenses paid on its behalf, totaling SAR 112,786,592. These transactions were conducted in the ordinary course of business and in accordance with prevailing market terms without any preferential conditions.

11. Approval was granted for the transactions and contracts concluded during the fiscal year ending on 31 December 2025 between Riyadh Development Company and Deira Development for Real Estate Development and Investment Company, in which His Royal Highness Prince Dr. Faisal bin Abdulaziz bin Ayyaf (Chairman of Riyadh Development Company and Chairman of the Board of Managers of Deira Development for Real Estate Development and Investment Company) has an indirect interest. The transactions include balances collected from customers of the associate company, dividend distributions, amounts collected on behalf of the associate company, expenses paid on its behalf, rental payments, and financing costs related to right-of-use assets, totaling SAR 30,156,216. These transactions were conducted in the ordinary course of business and in accordance with prevailing market terms without any preferential conditions.

12. Approval was granted for the transactions and contracts concluded during the fiscal year ending on 31 December 2025 between Riyadh Development Company and Sumou Holding Company, in which Mr. Abdulrahman bin Ayed Al-Qahtani (Board Member of Riyadh Development Company and Board Member of Sumou Holding Company) has an indirect interest, as both companies are shareholders in Tanal Real Estate Investment and Development Company. The transaction relates to the exit from the investment in Tanal Real Estate Investment and Development Company at book value, amounting to SAR 89,778. These transactions were conducted in the ordinary course of business and in accordance with prevailing market terms without any preferential conditions.

13. Approval was granted for the transactions and contracts to be concluded during fiscal year 2026 between Riyadh Development Company and Sumou Holding Company, in which Mr. Abdulrahman bin Ayed Al-Qahtani (Board Member of Riyadh Development Company and Board Member of Sumou Holding Company) has an indirect interest. The transaction involves Riyadh Development Company selling its units in the Al Arabi Riyadh Development Real Estate Fund to Sumou Holding Company for SAR 184,479,915. These transactions will be conducted in the ordinary course of business and in accordance with prevailing market terms without any preferential conditions.