Ma'aden
Strategy Review

A changing world creates challenges for business, but it also creates opportunities. This is why in 2020 we refreshed our 2019 corporate strategy – to be able to flexibly respond to the challenges that the world may throw at us. This review provided us with the chance to look at how we can build resilience, responding positively and proactively to shifting global trends in the industry, and also to changes in our operating environment in Saudi Arabia.

The refreshed strategy identified a number of key priorities that we pursued in 2020 and will continue to pursue in 2021:

• First, we need to position ourselves as an industry leader in creating a safe working environment for all of our staff. This is why in 2020 our key focus was on the roll-out of new organizational standards and support in EHSS.
• Second, we focus on understanding, responding to, and meeting the needs of our customers. In 2020 we continued to develop approaches which put our customers at the heart of what we do, such as streamlining our systems and concentrating on developing bespoke products for specific emerging markets in fertilizers.
• Third, we attract and retain the best people to deliver on our vision. Our team needs to be empowered to deliver for the business. This is why, in 2020, we rolled-out our new rewards package, and strengthened the way in which we capture and use the expertise of our staff in driving wider business decision-making.
• Fourth, we also put strong emphasis on operational excellence to deliver additional value and finance growth, by debottlenecking plants, driving asset utilization, improving planning and coordination across assets, optimizing consumables use and labor productivity and driving cross-SBU synergies.
• As a result, our strategy continues on creating value for our shareholders while leading the Saudi Mining Industry. In 2020 we continued our journey of business transformation, with the Ma'aden Transformation Program, Mining Exploration Program, Lean Management training across Ma'aden, and the increasing use of Automation and Digitalization to achieve efficiencies in areas such as extraction and processing of ore.

In 2020, our focus has been on strengthening in all of our priority areas, to provide a solid platform for future growth.