Aramco addresses recent development in connection with transfer of a portion of the State’s ownership in the Company to PIF

Reference is made to the State’s announcement on the Saudi Press Agency on 12/7/1443H (corresponding to 13/2/2022G) in relation to the State’s transfer of 4% of the Saudi Arabian Oil Company’s (Aramco) shares to the Public Investment Fund (PIF).

Following the transfer, the State remains Saudi Aramco’s largest shareholder, retaining more than 94% shareholding.

This is a private transfer between the State and PIF, and the Company is not a party to the transfer and did not enter into any agreements or pay or receive any proceeds from the transfer.

The transfer will not affect the Company’s total number of issued shares, and the shares transferred will rank equally alongside other existing ordinary shares in the Company.

The transfer does not have an impact on the Company’s operations, strategy, dividends distribution policy or governance framework.

The Company will announce any material development as required by the applicable rules and regulations.