BRIEF-Saudi Aramco Establishes Integrated Corporate Development Organization To Optimize Portfolio

SAUDI ARABIAN OIL CO:

* ARAMCO ANNOUNCES CORPORATE DEVELOPMENT ORGANIZATION

* ANNOUNCED ESTABLISHMENT OF AN INTEGRATED CORPORATE DEVELOPMENT ORGANIZATION TO OPTIMIZE COMPANY'S PORTFOLIO

* CORPORATE DEVELOPMENT IS MANDATED TO CREATE VALUE, ASSESS EXISTING ASSETS

* ORGANIZATION WILL SUPPORT RAPID AND EFFECTIVE DECISION-MAKING ON THE COMPANY’S PORTFOLIO AND CORPORATE DEVELOPMENT ACTIVITIES

* ORGANIZATION WILL BE LED BY SENIOR VICE PRESIDENT ABDULAZIZ M. AL-GUDAIMI

* ORGANIZATION WILL BECOME OPERATIONAL STARTING SEPTEMBER 13, 2020

* CORPORATE DEVELOPMENT IS MANDATED TO SECURE GREATER ACCESS TO GROWTH MARKETS AND TECHNOLOGIES THROUGH PORTFOLIO OPTIMIZATION AND STRATEGIC ALIGNMENT Further company coverage:

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