Title :

Appointment of Tharawat Energy and Mining SPC to manage the Quarries of Raysut Cement Company SAOG and its subsidiaries

 

Content :

The Board of Directors is pleased to inform you of the following;

 

Appointment of Tharawat Energy and Mining SPC to manage the Quarries of Raysut Cement Company SAOG and its subsidiaries

 

We are pleased to advise that the Board of Directors of Raysut Cement Company SAOG (the "Company"), by way of a Circular Resolution dated 29 July 2026, approved the appointment of Tharawat Energy & Mining SPC to manage the quarries of Raysut Cement Company SAOG and its subsidiaries.

The Board's decision was based on the Company's and the Group's strategic objective to centralize the management and utilization of its quarry assets, enhance operational efficiency, and maximize the value derived from its mining assets.

Accordingly, the Board resolved the following:

First: To approve the appointment of Tharawat Energy & Mining SPC, a wholly owned subsidiary of Raysut Cement Company SAOG, to manage, operate, and supervise all quarries of the Raysut Cement Group and its subsidiaries, in accordance with the applicable laws and regulations.

Second: Tharawat shall assume responsibility for the management of the quarries, including, without limitation, planning and operations, management of licenses and permits, coordination with the relevant governmental authorities, management of mining operations, and the development and utilization of the Group's quarry assets. This appointment is intended to promote best industry practices, improve operational efficiency, and enhance value creation across the Group.

Third: To authorize the Executive Management to undertake all necessary actions required to implement this resolution, including the preparation and execution of any agreements, memoranda of understanding, or intercompany arrangements, as well as obtaining all necessary regulatory and legal approvals required for its implementation.

Fourth: This resolution shall become effective from the date of its approval. Executive Management shall provide the Board of Directors with periodic reports on the implementation of this resolution and on the progress and performance of Tharawat in managing the Group's quarries.

The Company will continue to keep the market informed of any material developments in accordance with the applicable disclosure requirements.