Page 16 - ELM- JANUARY & FEBRUARY 2023

Press Release

Elm Signs a Cooperation Agreement with ESNAD

14 February 2023- Elm, a pioneering digital solution company, signed a cooperation agreement
with the Saudi Mining Services Company (ESNAD), to jointly improve the business efficiency
and quality of industrial complexes and mining sector, by employing the latest technologies.

The agreement was concluded on the sidelines of LEAP 2023 taking place in Riyadh from 6 to 9
February 2023. It was signed by Dr. Nasser bin Zaid Al-Meshari, Elm's VP of Business Sector,
and Ahmed Al-Otaif, ESNAD's General Manager of Procurement and Strategic Alliances. Under
this agreement, Elm and ESNAD will cooperate and leverage top-tier technologies to enhance the
controls tools and methodologies applied to mining activities in the Kingdom, uplift the quality of
industrial establishments and complexes to the highest international standards, apply best practices
and governance principles, and promote business in the sector.

The agreement provides for unifying the efforts of both parties and employing Elm's leading
technical capabilities to upgrade the integrated solutions and services system provided by ESNAD
to local and international investors in the Saudi mining field, develop the mining sector, and
monitor and control its financial and regulatory compliance.
This step is part of the Kingdom's efforts to increase the contribution of the mining sector to the
GDP and make it the third pillar of industry in the Kingdom, in addition to the oil and
petrochemical industries, by optimally leveraging mineral resources and developing their
industries. By leveraging cutting-edge technologies, Elm-ESNAD cooperation will help raise
business efficiency in the sector, drive sustainability, raise transparency and reliability in various
mining activities, ensure optimal utilization of mineral resources, protect the environment, enhance
the safety of workers, and expand investment prospects.

Majid bin Saad Al-Arifi, Elm's Spokesperson and Executive Vice President of Marketing, said:
"We are pleased to conclude a cooperation agreement with ESNAD to help upgrade its business
in various fields. This agreement is an embodiment of our commitment to work with various
entities in the Kingdom, and an illustration of our advanced digital transformation and technology
services capabilities. This agreement is crucial given the role that ESNAD plays in the
management of regulatory activities and quality assurance in the mining sector, which is a vital
sector with fundamental contributions to the Kingdom's economy."

Al-Arifi added: "We are confidently looking at the joint work prospects offered by this agreement
in the context of the technical progress in ESNAD's fields of work. We look forward to employing
world-class digital solutions and services to enhance control and inspection activities in various
industrial complexes in the Kingdom, and support sustainability in the mining sector by applying
best practices and ensuring compliance with governance and environmental protection standards.