The acquisition process comes within the framework of the Elevator Solutions Company’s strategy to invest in expanding the market for selling, installing and maintaining elevators and escalators, and the continuous growth and sustainability that it achieves.

The company targets it within the framework of the general policy of Mayar Holding Company.

This memorandum aims to define the framework of understanding about the initial mutual obligations and rights between the two parties.

The agreement is also conditional on the results of the financial and legal due diligence work and negotiation to reach the final evaluation.

The memorandum of understanding also includes a number of generally accepted provisions that regulate the confidentiality of information, exclusivity, and restrictions on some essential actions. It should be noted that the

implementation of the potential deal is subject to the parties agreeing to a final, binding agreement that determines the terms and conditions of the deal together.

It will not be renewed except by a written addendum between the parties, and it will expire at the end of its term or with the signing of a binding agreement between the parties.