Element List	Explanation
Introduction	With reference to the previous announcement by Basic Chemical Industries Company regarding the signing of a Memorandum of Understanding with Italmatch Middle East Company dated 23 May 2023, and the subsequent extension of the MoU dated 4 May 2025, the Company would like to announce its decision not to renew the Memorandum of Understanding after the expiry of its current term.
Previous Announcement	Signing of a Memorandum of Understanding with Italmatch Middle East Company
Date of Previous Announcement on Saudi Exchange’s Website	2025-05-04 Corresponding to 1446-11-06
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The Company would like to announce its decision not to renew the Memorandum of Understanding after the expiry of its current term.
Reasons For The Delay on The Date of The Event Previously Announced	This decision is attributable to the extension of the project timelines of Italmatch, which has resulted in the absence of tangible project progress that does not align with the future strategic plans of Basic Chemical Industries Company at the current stage.
The costs associated with the event, and if they have changed or not with indication of the reasons.	The Company confirms that the termination of the Memorandum of Understanding does not entail any financial or contractual obligations on Basic Chemical Industries Co., and that no binding agreements or financial investments requiring disclosure have been entered into.
Delay consequences on the Company’s financial results	There is no material financial impact on the Company’s financial statements at this stage as a result of the termination of the Memorandum of Understanding.
Additional Information	The Company confirms that this decision does not close the door to any future collaboration opportunities with Italmatch, and Basic Chemical Industries Company looks forward to resuming discussions should Italmatch’s projects materialize in the future in a manner consistent with the Company’s strategy.