The business and contracts between stc and Wala’a Cooperative Insurance Co. (Walaa), in which Mr. Jameel A. Al-Mulhem, has an indirect interest being a Member of the Boards of Directors of stc and Walaa. The disclosed indirect interest is regarding the agreement with Walaa, which includes signing a supplementary contract to provide stc with insurance coverage for six years starting from 10-12-2021 for an amount of SAR 19.3 million. The signed supplementary contract was part of the ordinary businesses that have offered no preferential advantages that was approved by the Ordinary General Assembly meeting held on 21-02-2022.

The business and contracts between stc and Wala’a Cooperative Insurance Co. (Walaa); in which Mr. Jameel A. Al-Mulhem, has an indirect interest being a member of the Board of Directors of stc and Walaa.The disclosed indirect interest is regarding the agreements with Walaa, which includes signing a number of insurance contracts to provide general insurance coverage for stc and its subsidiaries for three years starting from 03-06-2022 with an amount of SAR 36.76 million (annually). The signed contracts were part of the ordinary businesses that have offered no preferential advantages that was approved by the Extraordinary General Assembly meeting held on 30-08-2022.

The business and contracts between stc and eWTPA Technology Innovation Limited Company, Alibaba Cloud (Singapore) Private Limited, Saudi Company for Artificial Intelligence (SCAI) and Saudi Information Technology Company (SITE) with regards to signing a joint venture agreement (JV) to establish a limited liability company specialized in cloud computing (General Cloud Computing Company for Information Technology - SCCC) with a total capital of SAR (894) million upon establishment. The shares are distributed as follows: (stc 55%, eWTPA 27%, Alibaba Cloud 10%, SCAI 4%, and SITE 4%). The JV agreement is within the ordinary businesses that have offered no preferential advantages. The Public Investment Fund (PIF) is a related party as it is the largest shareholder in stc with 64% ownership, as well as a limited partner in eWTPA through its wholly owned subsidiaries and owns all the shares of SCAI and SITE, and the Board of Directors following members have indirect interest as a representative of the PIF: H.E Dr. Khaled H. Biyari, Mr. Yazeed A. AlHumied, Ms. Rania M. Nashar, Mr. Arndt F. Rautenberg and Mr. Sanjay Kapoor that was approved by the Extraordinary General Assembly meeting held
on 30-08- 2022.

The business and contracts between stc and Public Investment Fund (PIF) with regards to signing a joint venture agreement (JV) to establish a limited liability company specialized in the field of internet of things (Internet of Things Information Technology Company - IoT squared), with a total capital of SAR 492 million upon establishment. The Joint Venture Agreement allows the possibility to increase the company’s capital up to SAR 900 million, as needed, and based on the company’s business requirements, at the end of the 3rd financial year from establishment, subject to the competent authorities and regulatory approvals, with 50% ownership for both stc and PIF. The JV agreement is within the ordinary businesses that have offered no preferential advantages. The PIF is a related party as it is the largest shareholder in stc with 64% ownership, and the Board of Directors following members have indirect interest as a representative of the PIF: H.E Dr. Khaled H. Biyari, Mr. Yazeed A. AlHumied, Ms. Rania M. Nashar, Mr. Arndt F. Rautenberg and Mr. Sanjay Kapoor that was approved by the Extraordinary General Assembly meeting held on 30-08-2022.