Exhibit 1: Saudi Vision 2030 Governance Model Defining Council of Ministers Support Units directions and making decisions Council of Economic and Finance Committee ee — J econ | | (CEDA) CEDA's Public Strategy Committee 1 Aramco = Project Level 2 i Investment ff « National > SGA Tronstorrations F227) Brragram | "@psermation Strategic Ofice ety eae pttaunaies ele Program — Management Office Ministry of CEDA Economy §f Delivery and Unit | i] *Adaa” Planning Level 3 Ex 8 Pol Implementing, ecution Bodies re arte mts Initiatives Management BB selection of programs adopted in Vision 2030 WD Additional programs under consideration Source: Saudi Vision 2030 A web of Strategic Programs Saudi Vision 2030 incorporates a number of Executive Programs and initiatives, with implementation carried out by several government entities. The Vision continues to centralize decision-making into CEDA, chaired by Deputy Crown Prince Mohammed bin Salman, and reporting to the Council of Ministers. The Ministry of Economy and Planning also retains an important role, with lower emphasis being put on the Ministry of Finance. The Project Management Program also suggests emphasis on ongoing review of capital expenditures, whereby existing review served to examine their approval process, and control their level. From a macro perspective, the three most important programs for now are: a) the re-shaping of the Public Investment Fund (PIF) into a USS2trn Sovereign Wealth Fund (SWF); b) the new corporate strategy for Saudi Aramco to transform it into an energy and industrial conglomerate; and, c) the National Transformation Plan (NTP) which encompasses medium-term growth boosting initiatives and fiscal consolidation measures (alongside the Fiscal Balance and Privatization Programs). We discuss these three elements in turn below. Table 1: Strategic Programs introduced by the Saudi Vision 2030 Strategic Program Comment Government Restructuring Program Supreme Councils have already been implemented, and t