Announcement: Musharaka REIT Fund obtains banking facilities amounting to 400 million riyals from Al Rajhi Bank

Musharaka REIT Fund announces the signing of a financing facility agreement with Al Rajhi Bank under the deferred sale system, compliant with the standards of the Shariah Supervisory Board, as follows:

1. The agreement was signed on 30/05/2018.

2. The value of the financing facility is 400,000,000 SAR, with a cost of six-month LIBOR + 1.85%.

3. The duration of the agreement is 7 calendar years.

4. The financing facility was secured by a mortgage on the fund’s real estate assets and a promissory note.

5. The facility will be drawn within one and a half years from the date of signing the agreement.

6. Only the financing cost will be paid during the term of the contract.

7. The full value of the financing facility will be repaid at the end of the seventh year.

8. The fund’s objective in securing this financing is to expand in order to enhance the achievement of investment goals and acquire income-generating real estate and long-term usufruct contracts, in line with the fund’s strategy and to reduce its risks. This will positively impact the fund’s profits and the sustainability of annual cash distributions after deducting the annual financing costs