Jahez International Company for Information System Technology (Jahez) announces the lapse of the period to fulfil the conditions under the share purchase agreement, and related extension addendums, for the acquisition of 100% of the share capital of The Chefz SPV LTD, without reaching an agreement to extend the period stipulated in the share purchase agreement

• the announcement made by Jahez International Company for Information Systems Technology (referred to hereinafter as “Jahez Company”) on 06/05/1444H (corresponding to 30/11/2022G) relating to the signing of a share purchase agreement (referred to hereinafter as the “SPA”) with each of Mr. Abdulrahman Abdullah Alshabanat, Mr. Abdulrahman Ahmed Almarshed, Mr. Abdullah Mohammed Aldosari, Saqr Fund L.P, Impact46 Seed Fund/Impact Seed Fund Co., and Muthmir Investment Company (referred to collectively as the “Shareholders of The Chefz” and together with Jahez Company as the “Parties” and each as the “Party”) for the purpose of acquiring one hundred thirty four thousand and six hundred twenty (134,620) shares in The Chefz SPV Ltd (referred to hereinafter as the “The Chefz”), representing 100% of the share capital of The Chefz;

• the announcement made by Jahez Company on 12/10/1444H (corresponding to 02/05/2023G) relating to the agreement by and between Jahez Company and the Shareholders of The Chefz to extend the period under the SPA to fulfil the conditions, following the expiration of the original period under the SPA, and until 13/01/1445H (corresponding to 31/07/2023G); and

• the announcement made by Jahez Company on 14/01/1445H (corresponding to 01/08/2023G) relating to the agreement by and between Jahez Company and the Shareholders of The Chefz to further extend the period under the SPA to fulfil the conditions, following the expiration of the original period under the SPA and the previous extension, and until 16/04/1445H (corresponding to 31/10/2023G),

(the extension agreements referred to hereinafter as the “Extension Addendums”),

Jahez Company announces the lapse of the period to fulfil the conditions under the SPA and the Extension Addendums without satisfying conditions and completing procedures stipulated in the SPA that are material and necessary for completing the transaction, and without agreeing a further extension period. As a result, the SPA and the Extension Addendums are deemed terminated without completing the acquisition of 100% of the share capital of The Chefz by Jahez Company.