Announcement of MBC Group’s intention to proceed with an initial public offering and listing on the Main Market of the Saudi Exchange

HSBC Saudi Arabia in its capacity as Lead Manager, and HSBC Saudi Arabia, J.P. Morgan Saudi Arabia and SNB Capital as Financial Advisors, Book-runners and Underwriters on the potential initial public offering of MBC Group (“MBC” or the “Company”) announce the Company’s intention to proceed with the initial public offering (“IPO”) and listing of 33,250,000 ordinary shares through a capital increase (“Offer Shares”), representing 10% of the Company’s share capital (following the issuance of the Offer Shares and increase of the Company’s share capital). GIB Capital is acting as the financial advisor to the substantial shareholders.

The Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on 15 November 2023G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 33,250,000 New Ordinary Shares through a capital increase (representing 10% of the Company’s share capital) on 21 November 2023G. The price at which all subscribers in the offering will purchase the Shares will be determined after the book-building period.

MBC GROUP Intention to Float

Date: 21 November 2023