Methanol Chemicals Company signed a Non-Binding Memorandum of Understanding (MOU) with a company owned by a number of industrial entities and a government fund to co-invest MethylDiethanolamine MDEA) product at cost of about SAR 450 million. This MOU is considered as an enhancement to Chemanol-s future plans for strategic transformation to become one of the manufacturers of specialty chemical products in the region in line with the Kingdom-s Vision 2030. It is worth mentioning that the relevant financial impact shall be determined upon the completion of all agreements related to this MOU.

However, the Company will announce any updates or developments regarding this MOU in due course of time.