Yanbu Cement Company Announces Board Resolution for the Voluntary Liquidation of its Associate Company, Cement Knowledge Center for Training Co. Ltd.

This decision arises as part of restructuring the Company’s activities related to training and development, in line with its direction towards supporting the national initiatives in developing human capital in the sector, most notably the recent launch of the National Academy for Industrial Minerals.

The Company will undertake all necessary regulatory procedures to complete the liquidation process in accordance with the applicable laws and regulations.

The liquidation is not expected to have a material financial impact on the Company’s financial statements. Any financial impact, if any, will be reflected in the Company’s consolidated financial statements upon completion of the liquidation process.