• Continued sales growth, as Amiantit recorded an increase in revenues during the current year 2022G by 16% compared to the revenues of the previous year 2021G, due to an increase in the volume of new orders.

• Accounting profits as a result of reversing a fixed assets impairment provision for one of the cash-generating units with a net value of 37 million Saudi riyals, after calculating its depreciation retroactively in the current year 2022G.

• Accounting profits as a result of reversing some provisions for expected credit losses in the current year 2022G with a value of 13 million Saudi riyals.

• An increase in the company's investment profits of SAR 23 million was recorded in the current year 2022G compared to the previous year 2021G.

The profit (loss) per share for FY 2022G was SAR (0.89), calculated by dividing the net profit (loss) attributable to shareholders of the company of SAR (8.781) million on the weight average number of outstanding shares 9,851,647, and for the comparative period ending December 31, 2021G SAR (17.39), calculated by dividing the net profit (loss) attributable to shareholders of the company of SAR (171.317) 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 2022G, the net profit (loss) after zakat and foreign income tax is SAR (5.063) million, includes SAR3.718 million for non-controlling interests and SAR (8.781) million for shareholders of the company, While in 2021G, the net profit (loss) after zakat and foreign income tax is SAR (172.421) million, includes SAR (1.104) million for non-controlling interests and SAR (171.317) million for shareholders of the company.

For the total comprehensive income (loss) in 2022G is SAR 17.152 million, includes SAR 3.710 million for non-controlling interests and SAR 13.442 million for shareholders of the company, while the total comprehensive income (loss) in 2021G is SAR (203.923) million, includes SAR (0.859) million for non-controlling interests and SAR (203.064) million for shareholders of the company.

c) Apply the fair value or revaluation model to measure real estate and investment properties:

In reference to what the company announced on the Tadawul website on 28/12/2021G regarding its board of directors’ resolution to use the fair value or revaluation model to measure real estate and investment properties, it has started implementing this policy as of the second quarter of 2022G, and according to the Capital Market Authority Circular No. (S/7/5/61/20) dated 07/05/1441H corresponding to 02/01/2020G, the real estate and investment properties have been re-evaluated at the end of The current year 2022G, and as a result, the company would like to note that the financial impact over the net assets increased by 373.014 million riyals Saudi, in addition to an accounting profit resulting from the evaluation of investment properties for the current year 2022G at a value of 3.3 million Saudi riyals, and that it does not result in a cash flow within the company.

d) Accumulated Losses reaching 34.9% of Share Capital:

The company came to know on this announcement publishing date that its accumulated losses have reached 34.9% of its share capital, the total accumulated losses reached 34.559 million Saudi riyals, and the company will apply the procedures and instructions in this regard.

The main reasons that led to these accumulated losses over the prior years are due to applying the international accounting standards, the lack of liquidity in general, the negative effects of the Corona pandemic, and the failure to obtain sufficient sales orders equivalent to the company’s production capacity, and despite that, the year 2022 witnessed a decrease in these accumulated losses due to the reasons that referred in the introduction to the announcement.

So according to article three 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.

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.