Riyadh – Mubasher: Theeb Rent a Car Company has reached a mutual agreement with HungerStation to significantly modify the scope of a contract addendum originally signed on 15 July 2026.

Under the new terms finalized on 3 September 2026, the number of vehicles to be provided has been reduced by approximately 82.50%.

The revised agreement is now valued at a total of SAR 88.07 million. Theeb Rent a Car attributed the adjustment to shifts in vehicle availability, supply costs, pricing, and shipping expenses.

The company confirmed that all vehicles required under the newly modified scope have already been delivered, and no further units remain for delivery under this specific addendum.

Regarding the financial impact, the company stated that the total expected value of the addendum will decrease due to the reduced vehicle count. However, the amendment will not result in the reversal or adjustment of previously recognized revenues, as income is only recorded for vehicles actually delivered.

This update follows a prior disclosure made on 19 July, regarding the ongoing commercial relationship between the two parties.