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Kingdom Holding Company signed a Share Purchase Agreement to acquire a stake in Breakthrough Energy Ventures, LLC (BEV) from its Chairman, HRH Prince Alwaleed bin Talal, for SAR 255 million (USD 68 million).
The transaction price represents a 30% discount on the stake’s estimated value of USD 98 million (SAR 367.5 million) based on BEV’s 2024 audited financial statements.
BEV is a clean-energy and sustainability technology investment firm founded by Bill Gates that targets breakthroughs in agriculture, buildings, electricity, manufacturing, and transportation.
The acquisition is funded through Kingdom Holding Company's internal resources and is categorized as a related-party transaction.

Element List	Explanation
Introduction	Kingdom Holding Company announces that it has signed a Share Purchase Agreement (“SPA”) to acquire a stake in Breakthrough Energy Ventures, LLC (“BEV”) from His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz AlSaud, for a total consideration of SAR 255,000,000 (USD 68,000,000).
Transaction Details	The transaction involves Kingdom Holding Company acquiring a stake in "BEV" from HRH Prince Alwaleed bin Talal bin Abdulaziz Al Saud. The estimated value of the acquired stake amounts to USD 98 million (SAR 367.5 million), based on BEV’s latest audited financial statements. The transaction was executed for a total consideration of USD 68 million (SAR 255 million), reflecting an agreed purchase price at a 30% discount to the estimated value.
Transaction Amount	SAR 255,000,000 (USD 68,000,000)
Transaction Conditions	None
Parties of the Transaction	1- Seller: HRH Prince Alwaleed bin Talal bin Abdulaziz AlSaud, Chairman of Kingdom Holding Company 2- Buyer: Kingdom Holding Company
Transaction Financing Method	Kingdom Holding Company's internal resources
Date of Entering Into The Transaction	2026-04-01 Corresponding to 1447-10-13
Description of Activity of The Asset Subject of The Transaction	“BEV” is a Company that focuses on investing in innovative clean-energy and sustainability technologies aimed at enabling a low-carbon economy. The Company was founded by Bill Gates and invests in companies that develop breakthrough solutions across agriculture, buildings, electricity, manufacturing, and transportation.
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction	Based on the audited financial statements of BEV as at 31 December 2024, 2023, and 2022, the stake being acquired by Kingdom Holding Company is valued at USD 98.0 million, USD 91.4 million, and USD 96.6 million, respectively.
Transaction reasons	The transaction aligns with KHC’s investment philosophy of providing shareholders access to unique investment opportunities not broadly accessible to the market, while acting as an early investor in innovative and transformative technologies.
Expected Impact of the Transaction on the Company and Its Operations	Kingdom Holding Company is an investment holding company managing a diversified portfolio. The transaction is undertaken in the ordinary course of the Company’s investment activities and is consistent with its role as an investment holding company.
Related Parties	HRH Prince Alwaleed bin Talal bin Abdulaziz AlSaud is the Chairman of the board of Kingdom Holding Company, and the largest shareholder therein.
Additional Information	None

Element List

Explanation

Introduction

Kingdom Holding Company announces that it has signed a Share Purchase Agreement (“SPA”) to acquire a stake in Breakthrough Energy Ventures, LLC (“BEV”) from His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz AlSaud, for a total consideration of SAR 255,000,000 (USD 68,000,000).

Transaction Details

The transaction involves Kingdom Holding Company acquiring a stake in "BEV" from HRH Prince Alwaleed bin Talal bin Abdulaziz Al Saud.

The estimated value of the acquired stake amounts to USD 98 million (SAR 367.5 million), based on BEV’s latest audited financial statements. The transaction was executed for a total consideration of USD 68 million (SAR 255 million), reflecting an agreed purchase price at a 30% discount to the estimated value.

Transaction Amount

SAR 255,000,000 (USD 68,000,000)

Transaction Conditions

None

Parties of the Transaction

1- Seller: HRH Prince Alwaleed bin Talal bin Abdulaziz AlSaud, Chairman of Kingdom Holding Company

2- Buyer: Kingdom Holding Company

Transaction Financing Method

Kingdom Holding Company's internal resources

Date of Entering Into The Transaction

2026-04-01 Corresponding to 1447-10-13

Description of Activity of The Asset Subject of The Transaction

“BEV” is a Company that focuses on investing in innovative clean-energy and sustainability technologies aimed at enabling a low-carbon economy.

The Company was founded by Bill Gates and invests in companies that develop breakthrough solutions across agriculture, buildings, electricity, manufacturing, and transportation.

Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction

Based on the audited financial statements of BEV as at 31 December 2024, 2023, and 2022, the stake being acquired by Kingdom Holding Company is valued at USD 98.0 million, USD 91.4 million, and USD 96.6 million, respectively.

Transaction reasons

The transaction aligns with KHC’s investment philosophy of providing shareholders access to unique investment opportunities not broadly accessible to the market, while acting as an early investor in innovative and transformative technologies.

Expected Impact of the Transaction on the Company and Its Operations

Kingdom Holding Company is an investment holding company managing a diversified portfolio. The transaction is undertaken in the ordinary course of the Company’s investment activities and is consistent with its role as an investment holding company.

Related Parties

HRH Prince Alwaleed bin Talal bin Abdulaziz AlSaud is the Chairman of the board of Kingdom Holding Company, and the largest shareholder therein.

Additional Information

None

Kingdom Holding Company announces that it has acquired a stake in Breakthrough Energy Ventures, LLC (BEV) from His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz AlSaud, for a total consideration of SAR 255,000,000 (USD 68,000,000)