Saudi Industrial Investment Group announces an unplanned shutdown for one of its subsidiaries

Saudi Industrial Investment Group announces an unplanned shutdown for one of its subsidiaries (Saudi Polymers Company) as a result of a technical issue in the Ethylene refrigeration unit. Operators at the site are currently working on repairing the technical issue and will work on gradually restarting the plant, Current estimation is being back in production next Friday February 3rd .

The financial impact of this shutdown cannot be measured at this time due to the fluctuation of product prices. The financial impact of this shutdown will be reflected in SIIG’s Q1, 2023 results. SIIG will announce any material developments in a timely manner.