The National Gas And Industrialization Holding Company (Gasco) Announces The Establishment Of A Fiberglass Cylinders Manufacturing Plant Through Fiber Gas Industrial Company, A Subsidiary Of Khazeen Company Wholly Owned By Gasco.

Introduction: The National Gas and Industrialization Holding Company (GASCO) announces the commencement of the implementation of a project to establish a fiberglass cylinders manufacturing plant through Fiber Gas Industrial Company, which is a subsidiary of Khazeen Company wholly owned by GASCO. In addition, Fiber Gas Industrial Company entered into a design and execution services agreement with the technical partner of the project on 30 March 2026.

The Company is currently completing the procedures related to the site, in addition to obtaining the required regulatory approvals and permits from the relevant authorities, in preparation for commencing execution works.

This project comes in line with the Company’s strategy to diversify its investment activities and enhance returns and is aligned with the objectives of Saudi Vision 2030 in promoting local content and localizing supply chains.

Project Start Date: During the second quarter of 2026.

Project Cost: The total estimated cost of the project is approximately SAR 88,700,000.

Financing method for the project: The project will be financed through the Company’s own resources, in addition to external financing sources.

Expected completion date of the project: The expected completion date of the project is during the fourth quarter of 2027.

Expected Financial Impact of the Project on the Company’s Results: The project is expected to have a positive impact on the Company’s financial results after the actual commencement of operations of the new plant.

The Start of the Expected Impact of the Project on the Company’s Results: The financial impact of the project is expected to be reflected in the Company’s financial results during the first quarter of fiscal year 2028.

Expected Date for the Pilot Production of the Project to Begin: Trial production is expected to commence in the Fourth quarter of 2027.

Duration of the pilot production of the project: (3) months.

Expected date for the commercial production of the project: Commercial production is expected to commence in the first quarter of 2028.

Executing Party/Counter Party in the Project/Contract: ECS Service GmbH, a company specialized in the design and engineering of composite gas cylinders and their production lines, and which will be responsible for the engineering and technical works of the project.

Related Parties: There are no related parties.

Additional Information: The Company confirms that it will announce any material developments in this regard in due course, in accordance with the relevant laws and regulations.