– Announcement –

Alkhabeer Capital Announcement on the Renew and Restructure of the Fund’s Banking Facilities with Al Rajhi Bank Amounting to
SAR 1,035 Million

Alkhabeer Capital in its capacity as the Fund Manager of Alkhabeer REIT (the Fund) announces that the Fund’s banking facilities with Al Rajhi Bank amounting to SAR 1,035 million have been renewed and restructured.

The Fund’s current total funding is SAR 737.5 million as of 31 December 2022. The principal is due at varying intervals in the years 2024 and 2025.

The most important terms of the financing agreement:

– Reducing the profit margin by not less than 30% compared to the financing previously granted to the Fund.

– Extending the maturity date of the total financing to September 2031.

– Continue to benefit from the profit rate hedging that have been previously concluded until its termination date.

The Fund Manager expects that the impact resulting from this event to be generally positive on the Fund’s performance, due to reduced profit margin, and increased possibility of acquiring new real estate assets by accessing the unutilized amount of the bank facility.

– Ends –