#1ببة للاستثمار TAIBA INVESTMENTS J9JUR Creating a new Saudi hospitality champion Investor presentation presentation OUR شركة دور للضيافة. Our Hospitality Company November 2023 شركة طيبة للاستثمار TAIBA INVESTMENTS J9JUR شركة دور للضيافة Dur Hospitality Company#2طيبة للاستثمار TAIBA INVESTMENTS J9JUR Disclaimer By viewing this document, you irrevocably agree to be bound by the following terms. The information provided in these slides and any written or verbal accompanying communication regarding or by Taiba Investments Company ("Taiba") and/or Dur Hospitality Company ("Dur") (together, the "Companies") or relating to these slides (collectively, the "Information") is provided for information purposes only in relation to the proposed acquisition by Taiba of the shares of Dur (hereinafter the "Proposed Transaction"). The Information is qualified in its entirety by the information contained in the offer document and shareholders' circulars that the Companies will issue later (the "Offer Documents"). The Information does not purport to be full, accurate or complete. No reliance may be placed for any purpose on the Information or its accuracy, fairness, or completeness. It is not the intention to provide, and you may not rely on the Information as providing, a complete or comprehensive analysis of the financial or commercial position or prospects of Taiba, Dur or the Proposed Transaction. The Information is not and must not be relied upon, treated or construed, as tax, legal, investment or other specialist advice, a recommendation to investors or potential investors, or a solicitation for a commitment or recommendation to vote on the Proposed Transaction in a certain way. The aggregated financial information included might not match the pro forma financial information included in the Offer Documents; these differences will arise as a result of various factors and adjustments. Neither Company nor any of their respective directors, officers, employees, agents, affiliates or subsidiaries accept any responsibility or liability whatsoever (whether in contract, tort or otherwise) for, or guarantee or give any explicit or implicit warranty, representation or undertaking, as to, the accuracy, fairness or completeness of any of the Information, and disclaims all liability and responsibility for any loss or damage (including in respect of direct, indirect or consequential loss or damage) caused by any action taken or not taken as a result, or on the basis, of the Information or otherwise arising in connection therewith. 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This document and the Information may not to be distributed, copied or reproduced without the written consent from the Companies. 2#3Agenda طيبة للاستثمار TAIBA INVESTMENTS 1 Key transaction highlights 2 Transaction structure 3 Strategic rationale 4 Key highlights J9JUR#4REVAN STARBUCKS Agenda طيبة للاستثمار TAIBA INVESTMENTS 1 Key transaction highlights 2 Transaction structure 3 Strategic rationale 4 Key highlights J9JUR#5طيبة للاستثمار TAIBA INVESTMENTS J9JUR Taiba Investments ("Taiba") acquisition of Dur Hospitality ("Dur") - a highly compelling transaction between two established hospitality developers in KSA The proposed transaction combines two hospitality players with complementary portfolios that enables stronger market outreach while capitalizing on the National Tourism Strategy, coupled with potential long term value creation for all shareholders Taiba: Shareholders to own 62% of Taiba post transaction طيبة للاستثمار TAIBA INVESTMENTS 1:1 exchange ratio - 1 share of Taiba for each share of Dur Key transaction highlights J9JUR > Premium of 22.5% as of the last trading day prior to the day of signing of Implementation Agreement date and a premium of 31.0% to Dur unaffected share price as of 15/12/2022 Dur: Shareholders to own 38% of Taiba post transaction > Implying a valuation of SAR 29.5 for each Dur share ■Total combined market cap of SAR6.8bn², resulting in the creation of #3 largest hospitality company (post transaction) in the KSA by market cap Strong EPS accretion potential for Taiba and Dur shareholders ■Combined management excellence and expertise to manage the company post transaction and drive future growth from operational efficiency and planned development projects Source: Saudi Exchange Notes: 1 April 06, 2023; 2 Based on combined market caps of both Taiba and Dur, as of November 08, 2023 5#6Overview of the proposed transaction and key terms 1 2 TRANSACTION STRUCTURE FINANCIAL TERMS 3 SHAREHOLDERS POST- TRANSACTION 4 GOVERNANCE 5 REQUIRED APPROVALS Notes: 1 Based on Taiba's closing price as of April 6, 2023 Stock-for-stock transaction between Taiba and Dur, with Taiba to buy 100% of Dur's shares in exchange for newly issued shares in Taiba Dur delists and becomes a closed joint stock company wholly owned by Taiba طيبة للاستثمار TAIBA INVESTMENTS J9JUR A final exchange ratio of 1.00 share in Taiba for each share in Dur was agreed, corresponding to a total of 100,000,000 new shares issued to Dur shareholders, valuing Dur at SAR 2,950mm1 The exchange ratio implies a premium to Dur shareholders of 22.5% vs. the closing share price of Dur on 6 April 2023 (the last business day prior to the announcement of the implementation agreement signing) Taiba and Dur shareholders to own 62% and 38% of the combined company respectively Assila Investment Company and Muhammad bin Ibrahim Al-issa will remain the majority shareholder with a pro forma ownership (following Taiba's acquisition of Dur) of 21% and 9% respectively At least one third of the combined board after the acquisition will comprise of Dur nominees An integration committee is composed to plan and strategize the integration (subject to board approval) Approval of GAC (General Authority For Competition), CMA (Capital Market Authority), the Saudi Exchange, and Shareholders' approval#7طيبة للاستثمار TAIBA INVESTMENTS J9JUR Scale and coverage to become one of the leading Saudi Arabian hospitality companies in terms of both market cap and # of keys #3 Hospitality company in KSA by market cap (SAR bn) Top 6 hospitality listed companies in the Kingdom One of the largest hospitality players by # of keys among certain selected peers¹ X # of hotels Bars represent # of Keys 23.2 جبل عمر Jabal Omar #3 7.6 6.8 4.2 2.6 0.7 0.6 سيرا SEERA طيبة للاستثمار TAIBA INVESTMENTS J9JUR طيبة للاستثمار TAIBA INVESTMENTS J9JUR SHAMS شمس مجموعة الحكير al hokair group 11 28 35 13,000 22 22 8 6 5,746 5,122 3,863 2,285 1,883 جبل عمر طيبة للاستثمار Jabal Omar TAIBA INVESTMENTS J9JUR مجموعة الحكير J9JUR al hokair group سيرا SEERA طيبة للاستثمار TAIBA INVESTMENTS Increased market capitalization and # of keys will allow Taiba post transaction to leverage both companies' know-how, achieving best-in-class operational and commercial capabilities, thus unlocking potential value for both sets of shareholders Source: Saudi Exchange, as of November 08, 2023 Note: 1 The graph shows certain selected companies (listed companies in the same or similar sector) and does not represent all players in the market. This is only illustrative and is not intended to show order or size compared to the overall market#8Agenda طيبة للاستثمار TAIBA INVESTMENTS Key transaction highlights 2 Transaction structure 3 Strategic rationale 4 Key highlights J9JUR#9Taiba's acquisition of Dur through a Tender Offer Share swap process Overview of the acquisition process Structure: Taiba offers to buy 100% of Dur's shares in exchange for newly issued shares in Taiba. Dur's shareholders, if the offer is accepted, become shareholders in Taiba طيبة للاستثمار TAIBA INVESTMENTS Taiba shareholders Note: All percentages are rounded New shares in Taiba issued to Dur shareholders J9JUR Dur shareholders Post-transaction shareholding structure طيبة للاستثمار TAIBA INVESTMENTS J9JUR طيبة للاستثمار TAIBA INVESTMENTS 100% J9JUR Result: Both companies remain in existence. Dur delists and becomes a closed joint stock company wholly owned by Taiba. Taiba's capital will be increased, and Taiba will remain listed In addition, the transfer of shareholders from Dur to Taiba post transaction will result in a more diversified shareholder base Pro-forma direct shareholding structure Pro-forma Shareholding 0 Assila Investment Company: 20.7% Muhammad bin Ibrahim Al-Issa: 9.2% Public investment fund: 8.5% Others: 61.6% 6#10Agenda طيبة للاستثمار TAIBA INVESTMENTS 1 Key transaction highlights 2 Transaction structure 3 Strategic rationale 4 Key highlights J9JUR#11There is a solid strategic rationale for the envisaged transaction Post transaction, the company will become one of the leading hospitality owners and operators in Saudi Arabia, which will in turn create more opportunities for growth Enhanced diversification through scale and pan KSA presence by leveraging a combined portfolio of real estate properties in the hospitality, residential space across the Kingdom including hotels, serviced apartments, residential properties, retail centers and others Major asset concentration risks (i.e. COVID like events) are expected to reduce as a result of a diversified pool of real estate assets between the two companies Combined portfolio of assets in prime locations allowing Taiba post the transaction to be well positioned, which in turn is expected to result in increasing competitive advantage, creating a better value proposition to its shareholders طيبة للاستثمار TAIBA INVESTMENTS J9JUR 1° Podium positioned KSA hospitality company in terms of scale, profile, and geographic coverage 29 Achieve best-in-class operational and commercial capabilities 3. Propels national agenda by catalysing delivery of Vision 2030 4. Significant value creation potential from synergies 11#12طيبة للاستثمار TAIBA INVESTMENTS J9JUR 1 Podium positioned KSA hospitality company in terms of scale, profile, and geographic coverage Creation of one of the leading hospitality players in the Kingdom 28 hotels with 5,700 keys 11 residential properties with 1,500 units Achieving such scale in KSA allows for economies of scale benefits... 6 commercial centres spanning 55,000 sqm Riyadh Madinah Makkah Tabuk Jeddah Jubail Combined revenue of c. SAR 900mm¹ to represent growing market share in mid-market and luxury hotel segment Comprehensive KSA footprint covering key cities ...providing opportunities to grow market share by leveraging its pan KSA geographic footprint... IHG HOTELS & RESORTS ACCOR Marriott INTERNATIONAL Hilton مكارم MAKAREM __ nur Hotels by Makarem شدا Shada افة | Hospitality للضي darabilɔ ...which will increase partnerships with leading international brands and enable the company to become the local brand of choice through further promotion of Umrah and Hajj visits Note: 1 Based on the pro forma financials prepared for the year ended 31 December 2022 12#132 Achieve best-in-class operational and commercial capabilities Post transaction, the company will have a sound balance sheet, extensive real estate expertise, and strong local hospitality brand with deep know-how in: Hospitality management and operations - leveraging at scale across the combined portfolio شدا Shada nur و مكارم MAKAREM للضيافة | Hospitality Full suite of in-house brands darabjl> طيبة للاستثمار TAIBA INVESTMENTS Providing opportunity to further develop its capabilities and be the preferred choice in all commercial angles Trusted partnerships Brand affluence Real estate property development, both in hospitality projects and commercial centres development Significant number of assets under development post the transaction Stronger relationship for international franchising/management agreements Through continued innovation of established brands Global partnerships and relationships, given experience with major international flags IHG Marriott Hilton HOTELS & RESORTS INTERNATIONAL ACCOR J9JUR Expertise in development projects Demonstrated through successful development pipeline Digital/Tech leader R&D focus for customer experience enhancement and hotel operations efficiency 13#143 Propels national agenda by catalysing delivery of Vision 2030 طيبة للاستثمار TAIBA INVESTMENTS J9JUR Vision 2030 is a government driven strategic framework to diversify and create a sustainable Saudi Arabian economy underpinned by being a global investment powerhouse, and an integral hub of international trade that connects Africa, Asia, and Europe Creation of a hospitality champion in Saudi Arabia that is fit to meet Vision 2030 requirements playing a vital role to unlock opportunities and tapping into key growth areas to support in delivering Saudi's National Tourism Strategy VISION 2030 HOSPITALITY TARGETS ■500k keys by 2030 100m annual visits by 2030 ■3 Saudi cities recognized in top 100 cities in the world TAIBA + DUR KEY EDGE Ambitious development plans from the acquisition to achieve ability to supply the market Strong combined hospitality presence in Madinah, Riyadh, and Jeddah to boost city reputation ■Increasing GDP contribution from tourism to >10% by 2030 Post-transaction, Taiba will become a bigger and stronger hospitality company in KSA which will serve as a catalyst for revenue expansions ■Hosting 30 million pilgrims by 2030 Significant existing and growing scale in Makkah and Madinah Source: Saudi Vision 2030 14#154 Significant value creation potential from synergies¹ PRK Areas for value creation مکارم MAKAREM طيبة للاستثمار TAIBA INVESTMENTS J9JUR 100% Revenue synergies Cross-selling of Makkah-Madinah hospitality package bundles Utilizing the known "Makarem" brand in Madinah and Makkah Leveraging of Taiba's landbank for further development projects $ Cost synergies Balance Sheet synergies Optimisation of hotel manpower through sharing best practices in hotel management/ operations TQ IT Procurement costs to benefit from economies of scale Centralised IT infrastructure systems Stronger balance sheet to reduce financing cost over time Combining capex spending for better relationship with suppliers Potential value creation from synergies could result in higher cashflow generation allowing for increased capacity for dividend distribution Note: These are potential areas that could result in synergies. There has been no decision on any synergy and integration plans and the potential areas might not be necessarily pursued. 15#16Agenda طيبة للاستثمار TAIBA INVESTMENTS 1 Key transaction highlights 2 Transaction structure 3 Strategic rationale 4 Key highlights J9JUR#17Key highlights Bi Saudi national champion of hospitality, with bespoke brands for all customers سيبة للاستثمار TAIBA INVESTMENTS Leveraging best of both companies to maximise long term value creation Supporting the Kingdom's ambitions from company's capability to achieve Saudi Vision 2030 Better alignment and streamlining of objectives for shareholders of both companies UR 19.JUR شركة دور itality Co. J9JUR 17