Sat, 20 Aug 2022

Washington, District of Columbia - DUBAI, United Arab Emirates, Evertise Digital, August 1, 2022 - The governing board of DHS Ventures & Holdings announced today through its Executive Vice Chairman, Fernando Aguirre , that it has closed on the acquisition of Triton Oil Ltd. Triton Oil Ltd. is a leading fully integrated oil refineries in Saudi Arabia. The transaction represents one of the region's largest acquisitions in the oil and gas markets and is the first of many acquisitions by DHS Ventures & Holdings, a private equity and venture capital investment firm.



'The acquisition of Triton Oil Ltd. represents our first transaction as we embark on a journey to build an integrated, customer-centric and technology-focused end-to-end global oil refinery business. We intend to support the region's fast-paced economies while expanding our offering beyond the Saudi Arabia,' said Fernando Aguirre, Executive Vice Chairman of DHS Ventures & Holdings and Vice President of DHS Holdings Saudi Group.

Triton Oil Ltd. founded in the 1982, is a highly specialized oil and gas producer business and has state-of-the-art operations and assets across Yemen, Qatar and the UEA, with a regional hub in Dubai. It has over 2,450 staff, 780 trucks and 350,000 square feet of warehouse capacity.

'We are humbled by what we have built over the past forty years and we could not have found a better-suited investor to take Triton Oil Ltd. into its next phase of its growth. DHS Ventures & Holdings ambition to build a regional oil and gas refinery with global reach is inspiring and we are pleased that Triton will be the foundation from which this vision is realized,' said Edgar Fuller Armstrong, outgoing CEO of Triton Oil Ltd. and Chairman of Edson Holdings.

DHS Ventures & Holdings, a private equity and venture capital investments firm headquartered in Washington, DC, aims to build an integrated oil and gas refinery services powerhouse to tap into Saudi Arabia and the world's growing energy sector. The firm is backed by regional industry leaders, including UAE-based DHS Holdings Saudi Group and SISCO, a company in Saudi Arabia.

'We see tremendous opportunity in Saudi Arabia, as well as the broader global oil and gas industry, and we intend to leverage our decades of experience and expertise to build, through M&A, a globally integrated petroleum businesses,' said Rakesh Sarna, Group CEO of DP World and Chairman of DHS Ventures & Holdings .



'We aim to offer unparalleled services to regional and global markets, while we support partners and customers to unlock and create value. In addition, the growing e-commerce sector, both regionally and globally, represents an important growth segment we intend to capitalize on,' added Chairman Sarna.

'Triton Oil Ltd. is well positioned to capitalize on the projected growth in the petroleum sector as well as the broader express gas market, both in saud Arabia and around the world. We will capture value from the industry's growth by strengthening our network and offering, while also exploring global growth opportunities,' said Mohammad Sharaz, Incoming CEO of Triton Oil Ltd.

ABOUT DHS VENTURES & HOLDINGS

DHS Ventures & Holdings is a high-stakes private equity, venture capital, investments firm. Our strategic insights and innovative programming build and sustain strong corporate and brand reputations. We provide our clients with counsel and program development across the spectrum of private equity investments, venture capital. Our clients are companies, industry associations, nonprofit organizations, professional services firms, and other large organizations.

We began as a unique grassroots and lobbying firm with customized services for an elite group of clients. Our work applies equally to regulatory issues as well as legislative ones, and we manage issues for our clients at the local, state, federal, and international levels of government.

We use our core competencies and reach to gain competitive advantage for clients. Our expertise comes from extensive must-win campaign experience and operating successfully at the highest rung of business, government, politics, and media. Our reach is the ability to use strategic intelligence to mobilize the message and persuade the toughest audiences. We know what it takes to win in difficult situations. We have proven results for prominent figures, leading advocacy groups and the world's most successful companies. We leverage what others cannot.

FOR DHS INVESTORS

RATIONALE FOR USE AND ACCESS TO NON-GAAP RESULTS

Management uses and presents GAAP and non-GAAP results to evaluate and communicate its performance. Non-GAAP measures should not be construed as alternatives to GAAP measures. Free cash flow, earnings from continuing operations before special items, operating profit before special items, adjusted EBITDA, adjusted EBITDA margin, and comparable results are common supplemental measures of performance used by investors and financial analysts.



expenditures.

Results before special items are supplemental non-GAAP financial measures. While these adjusted results are not a substitute for reported results under GAAP, management believes this information is useful as an aid to further understand Meredith's current performance, performance trends, and financial condition.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. These statements are based on management's current knowledge and estimates of factors affecting the Company and its operations. Statements in this release that are forward-looking include, but are not limited to, statements related to the proposed merger, the spin-off and DHS Group Equity Partners' future financial strength, including its leverage ratio, following the spin-off, the timing of the transaction and the growth of the Company following the transactions. Forward-looking statements can be identified by words such as may, should, expects, provides, anticipates, assumes, can, will, meets, could, likely, intends, might, predicts, seeks, would, believes, estimates, plans, continues, guidance, or outlook, or variations of these words or similar expressions.

Actual results may differ materially from those currently anticipated. Factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: market conditions; the impact of the COVID-19 pandemic; the parties' ability to consummate the proposed merger and spin-off; the conditions to the completion of the transactions, including the receipt of approval of DHS Group Equity Partners' investors; the regulatory approvals required for the proposed merger not being obtained on the terms expected or on the anticipated schedule; the parties' ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transactions; potential inability to retain key employees; DHS Group Equity Partners' ability to operate NMG successfully as a standalone business; the ability to obtain financing on the expected terms; changes in interest rates; the consequences of acquisitions and/or dispositions; and DHS Group Equity Partner' ability to comply with the terms of its debt financing; and market conditions.

Additional information concerning these, and other risk factors can be found in DHS Group Equity Partners' filings with the Securities and Exchange Commission ('SEC'), which are available on the SEC's website at . Such risk factors may be amplified by the COVID-19 pandemic and its potential impact on the Company's business and the global economy. DHS Group Equity Partners assume no obligation to update or revise publicly the information in this communication, whether as a result of new information, future events or otherwise, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

DHS® is a trademark or registered trademark of DHS Investments, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owner.

CONTACT

Kali Ferrati, Vice President of Communications

202-719-0398

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