Date: 11/03/2021

On Thursday 11/03/2021 the SDC completed the process of decreasing the share capital of (4,000,000) JOD/share with a nearly 57 percent of the capital of the Intermediate Petrochemicals Industries Company to redeem part of the company’s rotated losses as of 31/12/2019.

Thereby, the SDC records of the Intermediate Petrochemicals Industries Company indicates the decrease of its capital from (7,000,000) JOD/share to a registered capital of (3,000,000) JOD/share as a result of the mentioned share capital decrease.

The above mentioned procedure is conducted based upon the company's General Assembly's resolution made in its extraordinary meeting held on 04/10/2020, and upon the approval of the Ministry of Industry, Trade and Supply on the share capital decrease issued on 25/02/2021.