The envisioned acquisition reflects Miahona's continued growth strategic journey & strengthens its presence in Riyadh across multiple customer segments such as the residential sector, and the commercial sector, while further supporting its position within the industrial sector.

Sha`s Water Service Company Ltd. has owned and operated water distribution facilities in Riyadh since 1998, as it has been providing water services through both networked and non-networked infrastructure. The acquisition is anticipated to support Miahona's objectives and contributions towards sustainable water solutions that are in line with Saudi Vision 2030, through combining expertise & competencies under one umbrella.

Completion of the acquisition remains subject to regulatory approvals, from the General Competition Authority, & customary closing conditions. Further updates will be announced through Tadawul.