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Element List	Explanation
Introduction	With reference to Methanol Chemicals Company’s (Chemanol) announcement published on the Tadawul website on 09/04/2025 regarding its intention to initiate a Forensic Audit with respect of the acquisition of Addar Chemicals Company and the Global Company for Chemical Industries — which were completed during the term of the previous Board of Directors, and following the negative impact of the acquired companies on Chemanol’s financial results during the previous and current financial years, and in line with the Board of Directors’ commitment to protecting the rights and interests of the Company’s shareholders, the Company, since announcing its intention to initiate the Forensic Audit procedures, has engaged one of the major specialized firms to carry out the Forensic Audit. Consequently, the firm entrusted with the Forensic Audit thoroughly examined all acquisition documents to assess the implications of the two transactions. The report, finalized on 07/12/2025, included a number of findings and facts that constitute the basis for certain material violations. Among these findings, the Forensic Audit revealed conflicts of interest between some members of the former Board of Directors and its subcommittees, and certain former owners of the acquired companies. In addition, the report included several material observations regarding the failure and negligence of certain members of the former Board of Directors to exercise the required diligence in fulfilling their statutory duties and responsibilities in connection with the two acquisitions. Many of the findings of the due diligence reports were disregarded, despite containing numerous risk indicators concerning the performance of the two companies and raising doubts about their ability to continue operations, given their poor financial position and heavy indebtedness. The report also incorporated an independent valuation of the acquired companies conducted by a specialized firm, the outcome of which was fundamentally different from the valuation carried out during the acquisitions under the tenure of the former Board of Directors. That earlier valuation was performed by a non‑accredited valuer not recognized by the Saudi Authority for Accredited Valuers. Based on the findings of the recently completed report, Chemanol will share the results with the relevant authorities to enable them to take the necessary actions. In addition, a specialized law firm has been appointed to initiate the statutory procedures required in light of the violations identified in the report, to safeguard the rights and interests of the Company’s shareholders.
Previous Announcement	Methanol Chemicals Company (Chemanol) announcement regarding its intention to investigate the acquisition of Addar Chemicals Company (ACC) and Global Company for Chemical Industries (GCI)
Date of Previous Announcement on Saudi Exchange’s Website	2025-04-09 Corresponding to 1446-10-11
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The Forensic Audit report has been finalized, and Chemanol has shared the results with the relevant authorities to enable them to take the necessary actions. At the same time, additionally the Company has appointed a specialized law firm to initiate statutory legal proceedings in light of the violations identified, with the aim of safeguarding and recovering the rights of shareholders adversely affected by the two acquisitions.
Reasons For The Delay on The Date of The Event Previously Announced	N/A
The costs associated with the event, and if they have changed or not with indication of the reasons.	N/A
Delay consequences on the Company’s financial results	N/A
Additional Information	The Company will duly announce any updates or developments in this regard.

Methanol Chemicals Co. Announces an update on its announcement regarding its intention to investigate the acquisition of Addar Chemicals Company (ACC) and Global Company for Chemical Industries (GCI)