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Clarifying Statement

August 17, 2017

On Saturday August 12th, 2017, at the Four Seasons hotel in Moscow, HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud Chairman of Kingdom Holding Company met with Mr. Alexey Khotin, the owner of Four Seasons hotel in Moscow. Prince Alwaleed and Mr. Khotin discussed future developments of the Four Seasons hotel in Moscow and the investment environment in Russia. Other subjects were discussed including a proposal of investing in the banking sector in Russia which was not one of KHC objectives at this time.