Saudi Electricity Company

• SE and Kraken sign definitive agreements to establish a joint venture headquartered in Riyadh to accelerate digital energy transformation across the Middle East and North Africa

• The joint venture will extend Kraken's AI-powered operating system by building regional digital capabilities, and creating high-quality jobs

• The joint venture will also reserve licensing rights to deploy Kraken for 11.5m customer accounts across the Kingdom of Saudi Arabia

• SE to acquire a minority strategic equity stake in Kraken to reinforce long-term alignment

Saudi Electricity Company Appoints Eng. Khalid Bin Salem AlGhamdi as Chief Executive Officer