Further to the announcement made by the National Agricultural Development Company (NADEC) on the Tadawul website dated 8/7/1439H corresponding to 25/3/2018G in connection with the signing of a definitive agreement to acquire 100% of the shares in Al Safi Danone Company Limited in consideration for issuing new shares in the National Agricultural Development Company (NADEC) to the shareholders of Al Safi Danone Company Limited through a capital increase (the Transaction), the National Agricultural Development Company (NADEC) is pleased to announce to its shareholders that the board of directors of the General Authority for Competition, pursuant to its meeting no. 53 dated 18/10/1439H corresponding to 2/7/2018G, has issued its non-objection in respect of completing the economic concentration transaction arising from the proposed acquisition of Al Safi Danone Company Limited by the National Agricultural Development Company (NADEC).

The National Agricultural Development Company (NADEC) will continue to announce any material developments with respect to the progress of the Transaction.