PRESS RELEASE

Knauf Completes Acquisition of Majority Stake in Saudi Arabia’s United Mining Industries Company

[Riyadh, 13th May, 2026] – Knauf, the leading international building materials manufacturer, today announced the successful completion of its acquisition of a 63.2% majority stake in United Mining Industries Company (“UMI”), a Saudi-based building materials manufacturer serving Saudi Arabia and the wider region.

The transaction was completed through the acquisition of the entire shareholding of UMI’s substantial shareholders, representing 8,850,669 shares, at a price of SAR 57 per share, for a total consideration of approximately SAR 504.5 million.

Following completion of the transaction, Knauf has become a majority shareholder in UMI, marking an important step in the Group’s long-term strategy in the Kingdom of Saudi Arabia.

Focus on continuity and long-term development

Following completion of the transaction, Knauf intends to submit a tender offer to acquire the remaining shares of UMI it doesn’t already own, in accordance with applicable laws and regulations. There can be no assurance that such an offer will be completed, and shareholders are advised to refer to the relevant regulatory disclosures and documentation in due course.

Lazard acted as financial advisor to Knauf, while AS&H Clifford Chance served as legal counsel.

About Knauf Group

The Knauf Group is an international building materials manufacturer based in Iphofen, Germany. Founded in 1932, the family-owned company today is the world's leading producer of gypsum-based construction materials and systems, energy-efficient insulation, and system solutions for ceilings. It operates more than 300 production sites and sales organizations in over 90 countries on all continents. In 2024, its approximately 43,500 employees generated sales of EUR 15.6 billion.