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This announcement is not a prospectus and is not an offer of securities for sale or subscription in any jurisdiction, including in or into the United States, Canada, Australia, South Africa or Japan.

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Any offer to acquire shares is made pursuant to, and any investor should have made its investment decision solely on the basis of the information that is contained in, as the case may be, the final prospectus or international offering memorandum (each an “Offering Document”, including in each case any supplement thereto), published by Asyad Shipping Company SAOG (under transformation) (the "Company" or “Asyad Shipping”) in connection with the listing of its ordinary shares to trading on the Muscat Stock Exchange (the "MSX").

Asyad Shipping Company S.A.O.G (under transformation) announces final IPO price at the top of the range

• Asyad Shipping has set the final price for its IPO at Bzs 123 per share, at the top of the marketed price range of Bzs 117 to Bzs 123 per share, raising gross proceeds of c. OMR 128.1 million (equivalent to c. USD 332.8 million) (based on FX rate used: 1 USD = 0.385 OMR) for Asyad Group SAOC (“Asyad Group”).
• Asyad Shipping appointed Ubhar Capital SAOC as price stabilization manager and liquidity provider, with Asyad Group allocating OMR 10 million from the IPO proceeds to reinforce the price stability at the final offer price.
• Strong institutional investor support with the Category I (Institutional Investor) tranche multiple times oversubscribed (excluding anchor investors). This reflects the strength of the Company’s modern fleet and the opportunity to invest in a key player in the Omani economy with global reach and a strong market outlook.
• Strong backing by anchor investors Mars Development and Investment LLC and Falcon Investments LLC, a subsidiary of the Qatar Investment Authority, who committed to subscribe for 10% and 20% of the Offering, respectively, at Bzs 123 per share, also drove confidence in the Offering.

Muscat, Oman, 4 March 2025: Asyad Shipping Company SAOG (under transformation) (“Asyad Shipping” or “ASC” or “the Company”), one of the world’s largest diversified maritime providers and a global leader in deep-sea transportation, today announces the final offer price and demand levels for its initial public offering (the “IPO” or the “Offering”) on the Muscat Stock Exchange (“MSX”).

The final offer price has been set at Bzs 123 per share, at the top of the previously announced offer price range of Bzs 117 to Bzs 123 per share, raising gross proceeds of c. OMR 128.1 million (c. USD 332.8 million) for Asyad Group SAOC, (“Asyad Group” or the “Selling Shareholder”). Based on the final offer price, Asyad Shipping’s market capitalization upon listing will be c. OMR 641 million (c. USD 1.66 billion).

The Offering comprised of a total of 1,041,748,856 existing shares (“Offer Shares”) by Asyad Group, representing 20% of Asyad Shipping’s total issued share capital. Of those, 25% of Offer Shares were allocated for Category II (Retail Investor) applicants and 75% of Offer Shares were allocated for Category I (Institutional Investor) applicants. In the Category I tranche, 30% of Offer Shares were allocated to the two anchor investors, Mars Development and Investment LLC and Falcon Investments LLC, a subsidiary of the Qatar Investment Authority, who committed to subscribe for 10% and 20% of the Offer Shares respectively, at Bzs 123 per share.

Asyad Shipping, in collaboration with Asyad Group, appointed Ubhar Capital SAOC as the price stabilization manager and liquidity provider for the Offering. Asyad Group has allocated OMR 10 million from the IPO proceeds to Ubhar Capital to conduct stabilizing transactions in the Company’s shares at the final offer price commencing on the first day of trading and for a period of up to 30 calendar days thereafter. The Asyad Shipping IPO will be the first IPO in Oman where a price stabilization manager has been appointed.

The backing of Asyad Shipping’s Offering by prominent local and regional anchor investors played a significant role in the strong demand seen during the Offering. Mars Development and Investment LLC and Falcon Investments LLC, a subsidiary of the Qatar Investment Authority, showed substantial confidence in Asyad Shipping’s competitive strengths such as its revenue backlog of USD 1.9 billion, its backing by the Oman Investment Authority (“OIA”), its highly experienced management team, and its industry-leading adjusted EBITDA margin of 68%. Their participation provided crucial momentum, contributing to the oversubscription levels experienced in the IPO.

ASC shares are expected to commence trading on or around 12 March 2025 under the ticker symbol “ASCO” and ISIN OM0000010120.

About Asyad Shipping

Asyad Shipping Company SAOG (under transformation) is one of the world’s largest diversified maritime providers and a global leader in deep-sea transportation with a full suite of operational capabilities, including liner services, ship management and chartering activities. Based in Oman, the company operates 89 vessels reaching over 60 countries. Established in 2003, the Company has developed fully integrated operations and cultivated longstanding relationships with a diverse and international top-tier customer based. Asyad Shipping offers a comprehensive range of maritime shipping solutions across five key business segments: Container Ships, Product Tankers, Dry Bulk Carriers, Crude Tankers, and Gas Carriers. The Liner Shipping segment, operated through its subsidiary Asyad Line Co. (“ASL”), connects Omani ports to strategic markets in the GCC, China, and Southeast Asia, while also providing value-added services such as storage, transportation, and customs clearance.

Moreover, ASC offers full-fledged maritime transportation services of the highest industry standards through its subsidiaries, including Oman Charter Company (“OCC”), Oman Ship Management Company (“OSMC”), Asyad Ship Management Company SPC (“ASMC”), ASL, and Asyad Shipping Pte Ltd (Singapore). These services include chartering activities for ASC-owned and third-party ships, as well as the commercial management of vessels that have been chartered-in to support the Company’s customers.

For more information about Asyad Shipping, please visit: https://AsyadShipping.om/