NASCON ALLIED INDUSTRIES : BUSINESS TRANSACTED AT THE ANNUAL GENERAL MEETING

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May 23, 2024

Lagos, Nigeria,

OUTCOME OF THE BUSINESS TRANSACTED AT THE ANNUAL GENERAL MEETING OF NASCON ALLIED INDUSTRIES PLC.

This is to announce that the Annual General Meeting ("AGM") of Nascon Allied Industries Plc. was held on Thursday, 23 May 2024, at the Jewel Aeida, Hakeem Dickson Rd, Lagos at 11.00 a.m. The AGM was streamed live from www.youtube.com/dangotegroup, while the Annual Report is accessible at https://nascon.dangote.com. The following resolutions were unanimously passed at the AGM:

1. The Audited Financial Statements for the year ended December 31 2023, as well as the Reports of the Directors, Auditors and the Audit Committee were laid before the members.
2. The re-elections of Professor Chris Ogbechie, Mr. Olakunle Alake and Hajia Fatima Wali-Abdurrahman, being Non-Executive Directors who retired by rotation, were approved.
3. The Board of Directors was authorised to fix the remuneration of the Auditors.
4. Dr. Okey Nwuke, Dr. Umar Farouk and Mrs. Kudaisi Ayodele Sarat, were elected as representatives of the shareholders on the Statutory Audit Committee. They shall serve along with Professor Chris Ogbechie and Ms. Halima Aliko-Dangote, (who represent the Board of Directors) until the conclusion of the next AGM.
5. The remuneration of the managers of the Company was disclosed on page 149 of the Annual Report.
6. The remuneration of the Chairperson of Five Million Naira and of the Non-Executive Directors of Four Million Naira each, for the year ending December 31 2024 was approved.
7. The general mandate to enable the Board and Management on behalf of the Company, enter into related party transactions that are considered beneficial to the Company on a normal commercial and competitive basis and at arms' length was approved.
8. The amendment of the Articles of Association to permit the holding of general meetings virtually was approved.
9. The issuance of bonus shares in the proportion of 1 new ordinary share of 50 kobo for every 50 existing ordinary shares of 50 kobo was approved.

For: Nascon Allied Industries Plc.

Adedayo A. Samuel

Company Secretary