Lagos, Nigeria

29 October 2021

NOTICE OF ESTABLISHMENT OF A ₦50,000,000,000 (FIFTY BILLION NAIRA) BOND ISSUANCE PROGRAMME BY UAC OF NIGERIA PLC (THE "PROGRAMME") AND THE PROPOSED ISSUANCE OF BONDS THEREUNDER

UAC of Nigeria PLC (the "Company") hereby notifies the Nigerian Exchange Regulation Limited ("The Exchange") and the general public of the establishment of a ₦50,000,000,000 (Fifty Billion Naira) bond issuance programme (the "Programme") by the Company and the potential issuance of bonds under the Programme.

The final decision to proceed with the issuance of any series of bonds under the Programme will be subject to market conditions, and the specific details of such issuance will be disclosed in the appropriate transaction documents at the relevant time.

Potential Investors are advised that nothing in this announcement shall constitute an offering of any securities under the Programme. Any decision to participate in, and subscribe for bonds under, the Programme will be made based on the investor's review of the information contained in, and incorporated by reference into, the shelf prospectus and pricing supplement to be published; and after due consultation with its stockbroker, solicitor, accountant, banker or independent investment adviser.

BY THE ORDER OF THE BOARD

Nkemdirim Agboti

Company Secretary/General Counsel.

uac of nigeria plc RC 341

uac house, 1 - 5 odunlami street, p.o. box 9, lagos nigeria. telephone: 01- 2701879, 0815 989 0023. www.uacnplc.com

Directors: Mr. Dan Agbor (Chairman); Mr. Folasope Aiyesimoju (GMD); Dr. Vitus Ezinwa (ED); Mrs. Babafunke Ijaiya-Oladipo (ED) Dr. Umaru Alka; Mrs. Suzanne Iroche; Mr. Babatunde Kasali; Dr. Okechukwu Mbonu; Mr. Karl Olutokun Toriola; Mr. Bolaji Odunsi

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UAC of Nigeria plc published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 16:21:10 UTC.