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Element List	Explanation
Introduction	With reference to Jazan Development and Investment Company’s (JAZADCO) announcement dated 30-10-2025 regarding the extension of the Memorandum of Understanding between the shareholders of Al-Reef Sugar Refinery Company and Ethraa Holding Company until 31-01-2026, based on Ethraa Holding Company’s request to complete the requirements of the Saudi Industrial Development Fund and other relevant authorities to finalize the transaction. JAZADCO announces that on 22-12-2025, an agreement was signed to terminate the Memorandum of Understanding signed between Al-Reef Sugar Refinery Company and Ethraa Holding Company due to the failure to meet the requirements related to the acquisition process, without any financial or legal obligations on either party.
Previous Announcement	Jazan Development and Investment Company announces the latest developments regarding the Memorandum of understanding which was extended by the shareholders of one of its investee companies (Al-Reef Sugar Refinery Company) for the Sale of All Shares to Ethraa Holding Company
Date of Previous Announcement on Saudi Exchange’s Website	2025-11-02 Corresponding to 1447-05-11
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	Termination of the Memorandum of Understanding (MoU) between Al-Reef Sugar Refinery Company and Ethraa Holding Company, due to failure to meet the requirements related to the acquisition process, without imposing any financial or legal obligations on either party.
The costs associated with the event, and if they have changed or not with indication of the reasons.	none
Additional Information	Al-Reef Sugar Company is currently undergoing a financial restructuring procedure, pursuant to a judicial ruling issued by the competent court on 10-11-2025, and under the supervision of the Trustee of the procedure, and the scope of the procedure includes the debtor and guarantors according to the judgment, which results in the suspension of claims on the company and its guarantors for up to 180 days from the date of the start of the procedure, in accordance with the Bankruptcy Law.

Jazan Development and Investment Company announces the latest developments regarding the Memorandum of Understanding which was extended by the shareholders of one of its investee companies (Al-Reef Sugar Refinery Company) for the sale of all shares to Ethraa Holding Company