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April 18, 2024

Lagos, Nigeria

UPDATE ON THE PROPOSED MERGER OF DANGOTE SUGAR REFINERY PLC, NASCON ALLIED INDUSTRIES PLC AND DANGOTE RICE LIMITED.

Nascon Allied Industries Plc. ("Nascon") hereby notifies the Nigerian Exchange Limited and the investing public, that further to its announcement of August 30, 2023 in respect of the proposed merger of Dangote Sugar Refinery Plc, Nascon and Dangote Rice Limited, a decision has been taken to suspend the said merger at this time.

The suspension is due to the comments and recommendation of the Securities and Exchange Commission ("SEC") centered around the current non-operational status of Dangote Rice Limited.

Nascon wishes to express its appreciation to all its stakeholders and will keep the public informed of any developments as they arise.

Investor Relations Information

Nascon Allied Industries Plc has a dedicated investors' portal on its corporate website, which can be accessed via this link: https://nascon.dangote.com. The Company's Investors' Relations Officer can also be reached through electronic mail at investors.nascon2@dangote.com for any investment- related enquiry.

Thank you.

A. A. Samuel

Company Secretary

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NASCON Allied Industries plc published this content on 18 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 April 2024 14:50:05 UTC.