ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE STRATEGIC ACQUISITION OF SHARES IN ANOTHER LISTED ENTITY

Advanced Petrochemical Company announces that it has purchased strategic shares in the capital of a public company (the Target Company) listed on the Saudi Stock Exchange Market (Tadawul) for the total value of Saudi Riyals 387 million (which amount exceeds 10% of its net assets according to the last reviewed interim financial statements) subject to increase as may be decided by the investment committee of the board of directors. The acquisitions of these strategic shares were effected through a series of on-market transactions over the period of the last ten months and were funded by internal resources of the Company as a long term investment.

It is expected that the financial impact of the above strategic investment will be reflected in the financial statements of the future periods based on the actual performance of the Target Company.