Al Khaleej Training and Education Company Announces the Latest Developments Regarding the Non-Binding Memorandum of Understanding with GFH Bank for the Purpose of Merging Educational Assets and Establishing a New Entity.

Al Khaleej Training and Education Company extended its non-binding Memorandum of Understanding (MoU) with GFH Bank for an additional 180 days, moving the expiry date to December 17, 2026.
The extension allows more time to complete due diligence, valuations, and negotiations regarding the proposed merger of 13 schools owned by Al Khaleej with 10 schools and one university owned by GFH Bank.
The transaction is structured as a 100% in-kind share swap to establish a new educational entity, with all original terms and conditions remaining unchanged.
The company noted that the counterparty has officially changed its name from GFH Financial Group to GFH Bank, with no impact on the obligations or rights under the MoU.

Element List	Explanation
Introduction	With reference to Al Khaleej Training and Education Company's announcement published on the Saudi Exchange (Tadawul) website on 18/01/2026 regarding the signing of a non-binding Memorandum of Understanding with GFH Bank to study the merger of the basic education assets and companies owned by Al Khaleej Training and Education Company (comprising 13 schools) with educational assets and companies owned by GFH Bank (comprising 10 schools and one university), through a 100% in-kind share swap transaction. The Company would like to announce that it has agreed with GFH Bank to extend the term of the non-binding Memorandum of Understanding for 180 days from the expiry of the initial term under the same terms and conditions.
Previous Announcement	Al-Khaleej Training and Education Company announces the signing of a non-binding memorandum of understanding with GFH Bank for the purpose of merging educational assets and establishing a new entity.
Date of Previous Announcement on Saudi Exchange’s Website	2026-01-18 Corresponding to 1447-07-29
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The non-binding Memorandum of Understanding is extended for 180 days from the expiry date of the initial deadline, from18, June 2026 to 17,December 2026, under the same previous terms and conditions, in order to complete the evaluation and due diligence work and to complete the negotiations, including the structural, financial, tax and legal aspects, by the independent advisors appointed by both parties.
Reasons For The Delay on The Date of The Event Previously Announced	Not applicable.
The costs associated with the event, and if they have changed or not with indication of the reasons.	Not applicable.
Delay consequences on the Company’s financial results	Not applicable.
Additional Information	The Company will announce any material developments in this regard in due course and in accordance with the applicable laws and regulations. The Company would like to inform its shareholders that the name of the first party for the Memorandum of Understanding has been changed from "GFH Financial Group" to "GFH Bank", in accordance with the name change adopted by the first party. This change is limited to the name only and does not result in any amendment to the nature, objectives, terms, obligations, or rights associated with the Memorandum of Understanding