1 Completion of transaction combining Arkan and Emirates Steel creates the UAE’s largest steel and building materials company The Combined Group is the UAE’s largest steel and building materials company The Group is well placed to scale and grow, ensuring that homegrown manufacturers are at the forefront of driving a sustainable, diversified national economy The transaction marks the first time that investors have access to a steel producer on a UAE public market Abu Dhabi, UAE, 6 October 2021 – Following the shareholder vote on 9 August 2021 and the receipt of all regulatory approvals, Arkan Building Materials Company PJSC (“Arkan”), a leading construction and building materials company in the UAE, confirms the legal completion of its combination with Emirates Steel Industries PJSC (“Emirates Steel”), a leading integrated steel manufacturer in the Middle East. The combination of Arkan and Emirates Steel (the "Combined Group") creates the UAE’s largest steel and building materials company with a compelling strategic proposition and strong potential for growth in the UAE and internationally. The transaction provides significant revenue diversification for the Combined Group and marks the first time that investors have access to a steel producer on a UAE public market. The Group is well placed to scale and grow, create new business opportunities and ensure that homegrown manufacturers are at the forefront of driving a sustainable, diversified national economy. Under key terms of the offer, Arkan issued to Senaat a convertible instrument, which converted into 5.1 billion ordinary Arkan shares. - ENDS – For further information please contact: Brunswick Phone: +971 (0)2 234 4600 / +971 (0)4 560 9600 Email: [email protected] ABOUT ARKAN Arkan Building Materials Company PJSC (ADX: ARKAN), is a public joint stock company specialising in the manufacturing of building and construction products in the UAE. Arkan’s vision is to build a large integrated building products business that serves the local and regional construction