[Riyadh، Saudi Arabia: Saudia Dairy and Foodstuff Company (SADAFCO) ranks among the highest performing non-financial companies in corporate governance among listed companies on Tadawul, based on the Alfaisal Corporate Governance Index (Alfaisal CGI) assessment for the Fiscal Year 2024, issued by the Corporate Governance Center at Alfaisal University.

Established in 2017 in collaboration with consultants from Harvard University and Kobirate, the Alfaisal CGI evaluates Saudi listed companies across core governance pillars, including the Board of Directors, Shareholders’ Rights, Public Disclosure & Transparency, and Stakeholders’ Rights. The assessment aligns with governance principles set by the Capital Market Authority (CMA), the Saudi Central Bank (SAMA), and the Organisation for Economic Co-operation and Development (OECD), and aims to strengthen governance standards, transparency, accountability, and sustainable corporate growth.

In recognition of this achievement, SADAFCO was honored with the Corporate Governance Excellence Award Certificate during the Fourth Annual Corporate Governance Conference, held on Thursday, 18 December 2025, at the DoubleTree by Hilton – Financial District in Riyadh.

Commenting on the recognition, Patrick Stillhart, CEO of SADAFCO, said:
“This recognition reflects SADAFCO’s governance culture and the discipline we apply in managing our business. Sound governance and compliance are essential to achieving long-term performance, and we remain committed to accountability and responsible practices across all levels of the company.”

Sultan Alghamdi, Chief Legal, GRC Officer and Board Secretary, added:
“This recognition reflects the tangible progress the company has achieved in strengthening governance principles and activating oversight and compliance mechanisms during Fiscal Year 2024. It also reaffirms SADAFCO’s continued commitment to further developing and enhancing its governance framework in line with globally recognized best practices and standards, supported by the ongoing confidence of the Board of Directors and executive management. This has contributed to sustaining this achievement and maintaining the company’s ability to consistently earn this recognition.”

The conference was held under the theme “Good Governance for Productivity, People, and Planet”, shedding light on governance frameworks that balance financial performance with social responsibility and environmental sustainability, in support of Saudi Vision 2030.

About Saudia Dairy & Foodstuff Company (SADAFCO)

SADAFCO is a publicly listed company that has been producing high-quality dairy and foodstuff products under the Saudia brand name since 1976, a year after the company was formed. Saudia enjoys being one of the market leaders in the Kingdom of Saudi Arabia in the production of tomato paste, ice cream, and milk.

Headquartered in Jeddah, SADAFCO operates sales and distribution activities across 24 locations within the Kingdom of Saudi Arabia, in addition to its presence in Gulf Cooperation Council (GCC) countries. The company also exports its Saudia-branded products to selected markets across the Middle East and North Africa (MENA) region.

For more information about SADAFCO, please visit www.sadafco.com

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