First: Approval of reducing the company’s capital from one hundred million Saudi riyals (100,000,000) to thirty-four million Saudi riyals (34,000,000), divided into (3,400,000) nominal shares of equal value, each of which is (10) ten Saudi riyals.

Second: Approval of the amendment of Article Seven of the Articles of Association related to the company’s capital in accordance with the reduction decided in the first clause of the amendment as follows: “The company’s capital (34,000,000) determined by thirty-four million Saudi riyals, divided into (3,400,000). Three million four hundred thousand shares of nominal value, the value of each of which is (10) ten Saudi riyals, all of which are cash’s & ordinary shares.

Third: Approval of the amendment of Article Eight of the Articles of Association related to subscribing to shares in accordance with the reduction prescribed in the first clause, so that the article after the amendment becomes as follows: “The founder subscribed to the entire capital shares and paid their full value.”

Also, this reduction does not have any effect on the continuity of the company's business or its obligations.

Accordingly, the Saudi Real Estate Development Company will complete the rest of the statutory procedures resulting from the decision of the assembly’s resolution.