ICD SERVES AS BOOKRUNNER FOR SAUDI ELECTRICITY COMPANY'S LANDMARK USD 2.4 BILLION TRIPLE-TRANCHE SUKUK ISSUANCE

• ICD serves as Bookrunner for SEC's USD 2.4 billion triple-tranche Sukuk with 3-year, 6-year, and 10-year tenors.
• First mandate with Saudi Electricity Company on its international Sukuk programme.
• Transaction supports sustainable infrastructure development aligned with Saudi Arabia's Vision 2030.
• Reinforces ICD's commitment to deepening Islamic capital markets and mobilizing institutional capital for sustainable development.
• Strengthens SEC's funding base for critical energy transition investments including grid modernization, renewable energy integration, and smart grid infrastructure.

Jeddah, Saudi Arabia, 27 January 2026 - The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, has participated as Bookrunner in Saudi Electricity Company's (SEC) landmark USD 2.4 billion triple-tranche Sukuk issuance. This significant transaction demonstrates continued investor confidence in both SEC's strategic positioning as Saudi Arabia's premier utility company and the depth of Shariah-compliant capital markets supporting sustainable infrastructure development in the Kingdom.

This marks ICD's first mandate with Saudi Electricity Company on its international Sukuk programme, representing a strategic milestone in the Corporation's collaboration with systemically important infrastructure issuers across the region. The triple-tranche structure, comprising 3-year, 6-year, and 10-year maturities, provides SEC with flexible, long-term Shariah-compliant financing for general corporate purposes. This diversified tenor profile addresses diverse investor preferences while optimizing SEC's funding strategy to support its capital-intensive infrastructure development programme.

The Sukuk proceeds will support SEC's ongoing investments in critical energy infrastructure, including grid strengthening and expansion, renewable energy integration, and advanced digitalization initiatives such as smart grid technologies. These strategic investments directly align with Saudi Arabia's Vision 2030 objectives for sustainable economic diversification, enhanced energy efficiency, and the Kingdom's ambitious renewable energy targets. As the backbone of Saudi Arabia's electrical power infrastructure, SEC plays a pivotal role in enabling the energy transition required to support the Kingdom's economic transformation and climate commitments.

ICD's participation as Bookrunner reflects its strategic commitment to developing Islamic capital markets across member countries and mobilizing global institutional capital for sustainable infrastructure and private sector development. This mandate underscores ICD's technical expertise in structuring and distributing Shariah-compliant securities for large-scale infrastructure financings, reinforcing the Corporation's pivotal role in deepening capital markets infrastructure and expanding financing alternatives for systemically important institutions driving economic development across its member countries.

The successful execution of this Sukuk issuance highlights the robust global appetite for high-quality Shariah-compliant investment opportunities from premier regional utilities. It also demonstrates the growing sophistication of Islamic capital markets in channeling institutional capital toward sustainable infrastructure development, energy transition initiatives, and climate-aligned investments that support long-term economic resilience and environmental sustainability across the broader Middle East and North Africa region.

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About Saudi Electricity Company: Saudi Electricity Company (SEC) is the Kingdom of Saudi Arabia's principal electric utility, responsible for the generation, transmission, and distribution of electricity throughout the nation. As a systemically important infrastructure provider and key enabler of Saudi Arabia's Vision 2030, SEC plays a critical role in the Kingdom's energy transition through strategic investments in grid infrastructure modernization, renewable energy integration, energy efficiency programmes, and smart grid technologies. SEC is committed to delivering reliable, sustainable, and affordable electricity services that underpin economic growth, social development, and environmental sustainability across Saudi Arabia.

About the Islamic Corporation for the Development of the Private Sector: ICD, a member of the Islamic Development Bank (IsDB) Group, is a multilateral financial institution established in 1999. ICD promotes economic development in member countries by financing private sector projects, fostering competition and entrepreneurship, offering advisory services, and encouraging cross-border investments. It holds strong credit ratings, including A2 by Moody's, A+ by Fitch, and A by S&P. ICD focuses on Shari'ah-compliant financing for projects like infrastructure and private equity funds, aiming to create jobs and boost exports.

For more information, visit: www.icd-ps.org.

For media inquiries, contact: icd.communication@isdb.org