BRIEF-Saudi Aramco Announces Restructuring Of Sadara Chemical Senior Debt Financing

SAUDI ARABIAN OIL CO: * ANNOUNCES THE SUCCESSFUL RESTRUCTURING OF SADARA CHEMICAL COMPANY’S SENIOR DEBT FINANCING AS WELL AS THE EXECUTION OF OTHER AGREEMENTS RELATED TO SADARA CHEMICAL COMPANY (RELATED PARTY)

* IN CONNECTION WITH RESTRUCTURING OF SADARA CHEMICAL SENIOR DEBT FINANCING, SAUDI ARAMCO AND DOW CHEMICAL COMPANY (DOW) HAVE AGREED TO GUARANTEE UP TO AN AGGREGATE OF US$3.7 BILLION OF SENIOR DEBT * TERMS OF RESTRUCTURING ALSO INCLUDE BENEFICIAL TERMS LIKE A PRINCIPAL REPAYMENT GRACE PERIOD UNTIL 15 JUNE 2026

* TERMS OF RESTRUCTURING ALSO INCLUDE AN EXTENSION OF FINAL MATURITY DATE FROM 2029 TO 2038, IN CONNECTION WITH ALL OF FACILITIES * AGREED TO GUARANTEE UP TO AN AGGREGATE OF US$3.7 BILLION OF SENIOR DEBT PRINCIPAL IN PROPORTION TO THEIR OWNERSHIP INTERESTS IN SADARA

* SAUDI ARAMCO, DOW AND SADARA HAVE ALSO ENTERED INTO AGREEMENTS TO PROVIDE ADDITIONAL FEEDSTOCK BY INCREASING QUANTITY OF ETHANE AND NATURAL GASOLINE SUPPLIED BY SAUDI ARAMCO * TO PROVIDE GRADUAL INCREASE IN SAUDI ARAMCO’S RIGHTS TO MARKET, THROUGH SABIC, FINISHED PRODUCTS PRODUCED BY SADARA OVER NEXT FIVE YEARS.

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