Saudi Arabian Mining Ma'aden : Invitation to the 8th Extraordinary General Meeting (First Meeting)

The Board of Directors of Saudi Arabian Mining Company (Ma'aden) is pleased to invite the

Company's shareholders to attend the 8th Extraordinary General Meeting (First Meeting) via modern technology means provided by Tadawulaty. The meeting will be held on 30 May 2021 corresponding 29101443H at 19:30 to discuss and vote on the following agenda:

• 1. Vote to approve the Consolidated Financial Statements for the fiscal year ended on 31

  December 2021;

• 2. Vote to approve the External Auditors report for the fiscal year ended on 31 December 2021;

• 3. Vote to approve the Board of directors' report for the fiscal year ended on 31 December 2021;

• 4. Vote to approve the Board of Directors recommendation to not distribute cash dividends for the fiscal year ended on 31 December 2021;

• 5. Vote on the discharge of Board of Directors members from liabilities for their management of the company during the financial period ended 31 December 2021;

• 6. Vote to pay the amount (SAR 5,430,781) as remuneration of the Board of Directors members & the Committees for the fiscal year ended on 31 December 2021;

• 7. Vote on the Board of Directors' Resolution to appoint Mr. Robert Wilt as an Executive Director, board member starting from the date of his appointment on 01/02/2022 to complete the Board term until the end of the current Board term on 24/10/2023, succeeding the former member Eng. Mosaed AlOhali (Executive Director). (CV attached).

8.

Vote on the Board of Directors recommendation to increase the Company's capital by granting bonus shares as follows:

• ▪ Total amount of increase: SAR 12,305,911,460

• ▪ Capital before increase: SAR 12,305,911,460

• ▪ Capital after increase: SAR 24,611,822,920

• ▪ Increase percentage: 100%

• ▪ Number of shares granted: granting one share for each share

• ▪ Number of shares before increase: 1,230,591,146

• ▪ Number of shares after increase: 2,461,182,292

• ▪ The Company aims to strengthen its capital base, in which contributes to boost the future growth plans.

• ▪ The increase will be through capitalization of 12,305,911,460 SAR statutory reserve (share premium) and part of the retained earnings.

• ▪ If the item is approved, the eligibility of the bonus shares shall be for shareholders owning shares by the end of trading day of the Company's Extraordinary General Assembly meeting date and are registered at Securities Depository Center Company (Edaa) by the end of the second trading day following the Extraordinary General Assembly meeting date.

• ▪ In case of bonus shares fractions occurrence, the Company will collect all fractions in a single portfolio to be sold at market price, the value will be distributed to eligible shareholders each by their share during 30 days from the allocation of new shares to each shareholder.

• ▪ Amend Article (7) of the Company's Articles of Association relating to the Company's capital and shares, to reflect the above capital increase. (Attached)

The Meeting shall be valid if attended by shareholders representing at least 50% of the Company's capital. If the First Meeting does not quorate, the next meeting will be held an hour after the first meeting. The second meeting shall be valid if attended by shareholders representing at least 25% of the Company's capital.

Also, each shareholder who is registered in the Company's Shareholders Register at the Securities

Depository Center at the end of the trading session preceding the Extraordinary General Assembly meeting has the right to register electronic attendance and vote using the Tadawulaty system at the Assembly meeting, according to the rules and regulations.

If there are any enquiries regarding the Extraordinary General Assembly agenda, please contact the Governance and Market Compliance Department at:

Tel:

0118748290, 0118748276

E-mail:

MarketCompliance@maaden.com.sa