Investor Presentaiton

uac since 1879 ..and will work to streamline our balance sheet to drive ROIC 1. -234 2. 3. 4. Investment in subsidiaries Cash and cash equivalents Other ■ UAC (the HoldCo) has N46.7 billion in total assets of which N14.6 billion¹ (31%) relate to our subsidiary holdings ■ These businesses generated N4.6 billion² of attributable EBIT in FY 2020 Allocating capital to high ROIC subsidiaries will drive overall performance ■ N14.8 billion³ in cash and US$5.9 million³ invested in Eurobonds with an average yield of 8% present a drag on returns ■ We retain this for strategic investing flexibility ■ Our HoldCo cash balance supports investments, acquisitions and shareholder distributions " N2.3 billion³ in real estate, N3.7 billion³ stake in UPDC, N1.6 billion³ stake in MDS Logistics (associate companies) ■ NO.2 billion share of loss from UPDC and MDS Logistics in Q1 2021 NO.23 billion in rental income, yield of 10% Investment in subsidiaries EBIT of subsidiaries prior to consolidation Carrying values for the Holdco as at 31 December 2020 Share of profit from associates for the period recognized in the consolidated financial statements 16

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