Intelligent Oud Company for Trading Announces an Update on Intelligent Oud Company (IOUD) Announces the Signing of a Non-Binding Memorandum of Understanding with Afaq Food Fund to Acquire Thannah Trading Company and the Appointment of Amwal Financial as the Financial Advisor for the Transaction

, the company received official letters from all the current owners of Thannah, namely:

• Afaq Food Fund with an ownership percentage of (99.99%).

• An individual shareholder (private ownership) with an ownership percentage of (0.01%).

These letters included the preliminary acceptance of the offer submitted by IOUD to acquire 100% of Thannah.

According to the offer, IOUD will acquire 100% of Thannah through a share swap, by issuing (1,170,000) new shares in IOUD in favor of the owners of Thannah.The The share price for the swap shares has been determined based on the Volume Weighted Average Price (VWAP) methodology, which is the adopted method in such acquisitions, calculated over the three-month period preceding the signing of the Memorandum of Understanding (from 9 February 2025 to 9 May 2025), which included 60 trading days. Accordingly, the share price for the purposes of the swap was determined at SAR 50.83 per share, resulting in a total estimated transaction value of approximately SAR 59,471,100.

• Afaq Food Fund with an ownership percentage of (99.99%).

• An individual shareholder (private ownership) with an ownership percentage of (0.01%).

These letters included the preliminary acceptance of the offer submitted by IOUD to acquire 100% of Thannah.

According to the offer, IOUD will acquire 100% of Thannah through a share swap, by issuing (1,170,000) new shares in IOUD in favor of the owners of Thannah.The share price for the swap shares has been determined based on the Volume Weighted Average Price (VWAP) methodology, which is the adopted method in such acquisitions, calculated over the three-month period preceding the signing of the Memorandum of Understanding (from 9 February 2025 to 9 May 2025), which included 60 trading days. Accordingly, the share price for the purposes of the swap was determined at SAR 50.83 per share, resulting in a total estimated transaction value of approximately SAR 59,471,100

The company confirms that the transaction is still subject to completing regulatory procedures and obtaining the required approvals from the relevant authorities.

The completion of the transaction shall remain subject to the signing of the final acquisition agreement and obtaining all relevant regulatory approvals.