An announcement from Taiba Holding regarding the termination of the land lease contract for the Arak Al Ola Hotel and the location between Arak Company – a subsidiary of Taiba – and the municipality of Ala

Further to the announcement published on 2017/07/11 on the termination of the land lease signed between the Arab Company for Tourist Areas (Arak) with the Municipality of Ala, we would like to clarify that the financial impact referred to in the declaration is not material to the financial statements of Taiba Holding and the Arab Zone Company The total value of the facilities erected on the leased land during the rental period has been depreciated and any amounts relating to the disposal of the furniture or property of the hotel which will have no material impact on these lists during the third quarter ending 2017 (9/30).