Red Sea International Co. Announces an update on Red Sea International Co. Announcement Regarding Its Strategic Plan to Write Off Accumulated Losses Before the End of the Year 2025

In light of the scheduling of the Company’s Extraordinary General Assembly meeting at the beginning of the first quarter of 2026 (specifically on 15/07/1447H, corresponding to 04/01/2026), during which a vote will be held on the agenda item related to transferring the entire balance of the share premium, amounting to SAR 295,693,911, to accumulated losses, In light of the above, the Company would like to note that it is expected that the procedures of its plan will be completed in the first half of 2026.

The Company confirms that this adjustment relates solely to the timeline for completing the required regulatory procedures, and it remains committed to moving forward with the implementation of its plan to support its financial position and achieve its announced objectives. All developments in this regard will be announced in due course.