| Introduction | MBC Group Company (the "Company") announces that MBC FZ-LLC (its wholly owned subsidiary) ("MBC FZ") has received a service order from ARA International Productions Company ("AIP") to provide services under the existing Master Services Agreement between MBC FZ and AIP (the "Service Order"), which was previously disclosed in the Company's prospectus. |
| Date of Announcement of the Award | 2024-12-31 Corresponding to 1446-06-30 |
| Contract Subject Matter | Provision of media services. |
| The Entity with Which the Contract was Signed | ARA International Productions Company. |
| Date of Signing the Contract | 2024-12-31 Corresponding to 1446-06-30 |
| Contract Value | The value of the Service Order is USD 92,000,000 (equivalent to SAR 345,000,000), exclusive of Value Added Tax. |
| Contract Details | MBC FZ, and other subsidiaries of the Company, will provide AIP, pursuant to this Service Order, with operational and broadcasting services for radio stations, as well as technical services, content production, marketing, promotion, brand development, and TV channel and digital platform management services. The Service Order is governed by the terms and conditions of the Master Services Agreement dated 01 August 2018G between MBC FZ and AIP which was disclosed in the Company's prospectus. |
| Contract Duration | 12 months. |
| Financial Impact and the Relevant Period | The financial impact of the Service Order shall be reflected in the financial results of the Company for the Fiscal Year 2024G. |
| Related Parties | AIP is considered a related party. The Chairman of the Company owns 50% of ARA International Holding Company, with the remaining 50% owned by Istedamah Holding Company, and ARA International Holding Company wholly owns AIP. |
| Additional Information | The Company confirms that the Service Order was concluded in the ordinary course of business and does not include any preferential benefits. |
