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Element List	Explanation
Introduction	Group Five Pipe Saudi Co. announces that the Saline Water Conversion Corporation (SWCC) and Group Five Pipe Saudi Co. have mutually agreed to reduce the total quantity of the Ras Al Khair Project by 39%, in line with the relevant authorities' plan to complete the project ahead of the original contract execution deadline. The remaining quantity of project pipes will be delivered by Group Five in accordance with the approved delivery schedule by Q1 2026. However, this reduction in Quantity does not affect the operating plans for 2025-26 during the period scheduled for implementation.
Previous Announcement	Group Five Pipe Saudi Co. Announces Contract Sign Off with Saline Water Conversion Corporation (SWCC).
Date of Previous Announcement on Saudi Exchange’s Website	2024-03-25 Corresponding to 1445-09-15
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	Adjustment and Reduction of Quantities for the SWCC Ras Al Khair Project
The costs associated with the event, and if they have changed or not with indication of the reasons.	There are no costs related to the event.
Additional Information	Management is quite optimistic about the outlook of the company, due to the increasing local demand for water transmission lines to support initiatives aimed at increasing water reserves across the Kingdom. Moreover, the strategic alignment of our business objectives with the Kingdom’s policies, along with projects under execution, will continue to drive our growth going forward, unlock our potential to the fullest, and help explore additional opportunities that will enable Group Five to achieve greater milestones in the Kingdom along with Vision 2030.

Group Five Pipe Saudi Co. Announces an update on Group Five Pipe Saudi Co. Announces Contract Sign Off with Saline Water Conversion Corporation (SWCC).