Announcement by Alinma Investment Company regarding a material development of Alinma Hospitality REIT Fund

11 Shaʻban 1445 AH H - 21 February 2024 G

Alinma Investment Company (“Fund Manager”), in its capacity as the Fund manager of the Alinma Hospitality REIT Fund, announces that it has reached an agreement with Ashad Company, which includes Ashad Company pledging additional units of the units it owns in the Fund and the proceeds associated with them in addition to the previous pledge, bringing the total units pledged to the Fund to 12,900,000 Unit, this pledge is valid for a period of 5 years from the date of operation of the Fund unless the Fund manager decides to waive the pledge or part of it.

This agreement comes as part of the keenness of both parties to preserve the interests of the Fund and the unit holders and as an affirmation of Ashad Company’s commitment to performing its obligations related to the asset owned by the Fund (Vittori Palace Hotel).

The Impact Caused by the Event:

Increasing the guarantees provided by Ashad Company in order to preserve the interests of the Fund and the unit holders.