Sim Leisure Group Ltd. announced that the Company has on 8 March 2023 completed the setting-up and activating exercise of the business entity, a wholly-owned limited liability company, Sim Leisure Arabia Contracting Company ("SL Arabia") in the Kingdom of Saudi Arabia ("KSA") ("SL Arabia Registration"). The share capital of SL Arabia is at SAR 20,000 represented by twenty (20) shares at the value of SAR 1,000 each. The intended principal activity of SL Arabia is to carry out the business of design and construction of theme attractions and parks as well as theme features mainly for restaurants and hotels and general construction in KSA.

The SL Arabia Registration coincides with the organic growth plan of the Group to capitalise on its "SIM LEISURE" and "ESCAPE" brands and further expand its presence in the Gulf Cooperation Council (GCC) countries. The SL Arabia Registration was funded by the Group's internal resources and is not expected to have any material effect on the consolidated net tangible assets per share and earnings per share of the Company and the Group for the current financial year ending 31 December 2023. None of the Directors or substantial shareholders of the Company and their respective associates, has an interest, direct or indirect, in the SL Arabia Registration, save for their interests arising by way of their shareholdings and/or directorships, as the case may be, in the Company.