Saudi Aramco Base Oil Company - Luberef announces that it has received an official notification for Sales Gas price increase

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Announcement Detail	Saudi Aramco Base Oil Company – Luberef would like to announce that it has received official notification from Saudi Arabian Oil Company (Saudi Aramco) on 01/01/2025 informing the Company of an increase in the price of sales gas which is used in the Company’s operational activities at its facility in Yanbu starting from 01/01/2025. The expected financial impact of the price increase is approximately 0.2% of the Company's cost of revenue (SAR 13.5 million) according to the preliminary Financial Statements for the nine months period ended September 30,2024. This impact will be reflected starting from the first quarter of the fiscal year 2025. The Company would like to highlight that the current adjustment has no significant impact on the Company’s profitability over the coming period. Moreover, the Company will continue its efforts in enhancing its operational efficiencies to minimize the impact of the price increase and continue to deliver value to its shareholders as part of its business transformation journey.

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Explanation

Announcement Detail

Saudi Aramco Base Oil Company – Luberef would like to announce that it has received official notification from Saudi Arabian Oil Company (Saudi Aramco) on 01/01/2025 informing the Company of an increase in the price of sales gas which is used in the Company’s operational activities at its facility in Yanbu starting from 01/01/2025.

The expected financial impact of the price increase is approximately 0.2% of the Company's cost of revenue (SAR 13.5 million) according to the preliminary Financial Statements for the nine months period ended September 30,2024. This impact will be reflected starting from the first quarter of the fiscal year 2025.

The Company would like to highlight that the current adjustment has no significant impact on the Company’s profitability over the coming period. Moreover, the Company will continue its efforts in enhancing its operational efficiencies to minimize the impact of the price increase and continue to deliver value to its shareholders as part of its business transformation journey.