• Recorded accounting profits in the same quarter of the previous year against settlement discounts for some outstanding obligations with some banks, amounting to approximately 20.1 million Saudi riyals, compared by nil in the current quarter.

• Recorded accounting profits in the same quarter of the previous year as a result of reversing some fixed provisions in previous years in the same quarter of the previous year, amounting to 27 million Saudi riyals approximately, compared by nil in the current quarter.

And despite that, the following reasons positively affected the current quarter's net loss:

• Sales continued to recover in the current quarter at a value of 5 million Saudi riyals due to the backlog balance of the carried-over business during the Corona pandemic period and the recovery in the volume of new orders, and the company's efforts to reduce sales costs by 22.6 million Saudi riyals compared to the same quarter of the previous year.

• Reversal of provisions for credit losses in the current quarter amounting to 12.8 million Saudi riyals as a result of the collection and scheduling of some old debts compared by nil in the same quarter of the previous year.

• A decrease in the provision for zakat in the current quarter by 5.1 million Saudi riyals compared by the same quarter of the previous year.

a) Amiantit Company recorded an increase in revenues during the current quarter, amounting to 2.4 million Saudi riyals, at a rate of 2% compared to the previous quarter. The increase is mainly attributed to the backlog balance of the carried-over business during the Corona pandemic period and the recovery in the volume of new orders, and the company’s efforts to reduce sales costs by 6.6 million Saudi riyals compared to the previous quarter.

b) Reversal of provisions for credit losses in the current quarter amounting to 12.8 million Saudi riyals as a result of the collection and scheduling of some old debts compared by nil in the previous quarter.

The profit (loss) per share for the period ending on March 31, 2022G was SAR (0.61), calculated by dividing the net (loss) profit attributable to shareholders of the company of SAR (5.980) million on the weight average number of outstanding shares 9,851,647, and the profit (loss) per share for the comparative period ending on March 31, 2021G was SAR (0.14), calculated by dividing the net (loss) profit attributable to shareholders of the company of SAR (1.345) million on the weight average number of outstanding shares 9,851,647.

With respect to calculating the earnings per share (loss), the earnings per share (loss) has been calculated in accordance with “International Accounting Standard 33 (IAS 33): Earnings per share.”, Which requires that the number of ordinary shares outstanding before the event be adjusted proportionally to the number of ordinary shares The list is as if the event occurred at the beginning of the earliest displayed period (i.e. comparative figures) and, accordingly, the earnings per share (loss) was calculated by dividing the profit (loss) for the period as if the reduction was made on January 1, 2021G, and accordingly the number of issued shares is calculated 9,900,000 shares according to the new capital, minus the number of shares held on the Employee Ownership Program, which amounts to 48,353 shares.

b) It is worth noting that in the announcement introduction, the profit (loss) after zakat and foreign income tax and total comprehensive income (loss) have been added only for shareholders of the company, whereby in the period ending on 31-03-2022G, the net profit (loss) after zakat and foreign income tax is SAR (7.377) million, includes SAR (1.397) million for non-controlling interests and SAR (5.980) million for shareholders of the company, and in the period ending on 31-03-2021G, the net profit (loss) after zakat and foreign income tax is SAR (2.288) million includes SAR (0.943) million for non-controlling interests and SAR (1.345) million for shareholders of the company, and in the period ending on 31-12-2021G, the net profit (loss) after zakat and foreign income tax is SAR (24.606) million includes SAR (1.086) million for non-controlling interests and SAR (23.520) million for shareholders of the company.

For the total comprehensive income (loss) in the period ending on 31-03-2022G is SAR (16.306) million, includes SAR (0.427) million for non-controlling interests and SAR (15.879) million for shareholders of the company, and in the period ending on 31-03-2021G, the total comprehensive income (loss) is SAR (20.827) million includes SAR (0.904) million for non-controlling interests and SAR (19.923) million for shareholders of the company, and in the period ending on 31-12-2021G, the total comprehensive income (loss) is SAR (37.637) million includes SAR (0.866) million for non-controlling interests and SAR (36.771) million for shareholders of the company.

c) Accumulated Losses reaching 28.90% of Share Capital:

The company came to know on this announcement publishing date that its accumulated losses have reached 28.90% of its share capital, the total accumulated losses reached 28.614 million Saudi riyals, and the company will apply the procedures and instructions in this regard.

So according to article three of chapter two of the procedures and instructions related to listed companies with accumulated losses reaching 20% or more of their share capital, the company should, immediately and without delay, disclose to the public in a separate announcement when its Accumulated Losses reach 20% or more and less than 35% of its Share Capital. The announcement should reflect the total Accumulated Losses, its percentage of the capital, and the main reasons that caused the losses as mentioned above, with reference that these procedures will be applicable.

In case the announcement coincides with the interim or annual financial results announcement, the company is exempt from the disclosure as a separate announcement if it disclosed the required information as per this paragraph in the interim or annual financial results announcement.