Riyadh – 7th September, 2026 – Alvarez & Marsal (A&M), the global professional services firm known for its senior-led, operator-driven approach, has acted as Financial Due Diligence (FDD) advisor to Armah Sports Company (Armah), one of Saudi Arabia’s leading fitness and wellness operators, in connection with its transfer from the Parallel Market (Nomu) to the Main Market of the Saudi Exchange (Tadawul).

The transaction represents an important milestone in Armah’s development as a publicly listed company and marks one of A&M’s first equity markets mandates in Saudi Arabia.

A&M worked alongside Armah and its other advisors throughout the transfer process, providing FDD services in relation to the transaction and supporting key stages of the filing and regulatory review process with the relevant regulatory authorities and the exchange.

Ali Anwar, Managing Director and Middle East Head of Transaction Advisory, Alvarez & Marsal, said: “We are proud to have supported Armah on this important milestone in the company’s journey. The successful transfer to the Main Market reflects Armah’s continued development and ambition, and we are pleased to have worked alongside the company and its advisors throughout the process.”

The transaction further strengthens A&M’s track record in Saudi Arabia’s capital markets and reflects the firm’s continued expansion of its transaction advisory capabilities across the Kingdom. A&M supports corporates, sovereign wealth funds and private equity investors across the deal lifecycle, combining senior-led financial, tax, commercial, operational and technical due diligence expertise with broader M&A and capital markets experience.

ENDS

About Alvarez & Marsal

Founded in 1983, Alvarez & Marsal is a leading global professional services firm. Renowned for its leadership, action and results, Alvarez & Marsal provides advisory, business performance improvement and turnaround management services, delivering practical solutions to address clients’ unique challenges. With a world-wide network of experienced operators, world-class consultants, former regulators and industry authorities, Alvarez & Marsal helps corporates, boards, private equity firms, law firms and government agencies drive transformation, mitigate risk and unlock value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com.

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