07 December 2025

Saudi Aramco Base Oil Company – Luberef (“Luberef” or the “Company”) announces receiving a notice from Saudi Arabian Oil Company (“Saudi Aramco”) regarding a successor feedstock supply agreement for the Company’s Jeddah Facility on 04 December, 2025 corresponding to (13/06/1447H).

The successor feedstock supply agreement will replace the current Feedstock Supply Agreement which is set to expire on 28 August, 2026.

The Company’s IPO Prospectus indicated that the Jeddah Facility was expected to close by mid-2026, however, the availability of feedstock will ensure continued operations after mid-2026.

Saudi Aramco’s notification is in furtherance of the Ministry of Energy’s allocation for Jeddah Facility and represents a significant milestone, reaffirming the ongoing collaboration between Saudi Aramco & Luberef towards a common strategic goal, the continuity of the Jeddah Facility beyond 2026.

Any material developments will be disclosed once the successor feedstock supply agreement is finalized and signed, in accordance with applicable regulations.

With the continuation of Jeddah Facility, the Company will maintain its current maximum production capacity of 275 thousand metric tons per year of Group I Base Oils, and with the completion of Growth-II Project in Yanbu, the total maximum production capacity of the Company will reach to 1.53 million metric tons per year, which will further strengthen Luberef’s unique position in the region as the only supplier offering Group I, Group II, and Group III Base Oils.