DANGOTE SUGAR REFINERY : UPDATE ON THE PROPOSED MERGER OF DSR, NASCON AND DRL

April 24, 2024

Lagos, Nigeria

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

Dangote Sugar Refinery Plc (the "DSR or Company") wishes to provide an update to the Nigerian Exchange Limited and the investing public further to its announcement of July 31, 2023, on the Merger of the Company with NASCON Allied Industries Plc. ("NASCON") and Dangote Rice Limited ("DRL") vide an internal restructuring to be executed through a Scheme of Merger ("Scheme"), under Section 711 of the Companies & Allied Matters Act, 2020 (as amended) and other applicable rules and regulations.

Given the recommendation of the Securities & Exchange Commission (SEC) on the status of DRL, the Merging Entities have agreed to suspend the merger for the time being.

Further information would be provided to the Investing public and Regulators in due course.

Thank you.

For: DANGOTE SUGAR REFINERY PLC

Mrs. Temitope Hassan (FCIS.)

Company Secretary/Legal Adviser