NIGERIAN BREWERIES : NOTIFICATION OF BOARD CHANGES

LAGOS, 7TH DECEMBER 2023

NOTIFICATION OF BOARD CHANGES

Nigerian Breweries Plc ("the Company') hereby announces the following changes in its Board of Directors ("the Board") arising from the Board Meeting of today, 7th December 2023.

MR. ASUE IGHODALO

The Chairman informed the Board today of his decision to offer himself for public service. As a result, he will be resigning from the Board and as the Chairman of the Board on the 31st of December 2023 to enable him devote his full attention to the new cause.

MR. SIJBE "SIEP" HIEMSTRA

To give the Board enough time to appoint a substantive Chairman, the longest serving Director, Mr. Sijbe "Siep" Hiemstra was appointed to act as the Chairman in the interim effective the 1st of January 2024. During this transition period, Mr. Hiemstra will steer the affairs of the Board and oversee the process of appointing a substantive Chairman. Currently a member of the Governance Committee, Mr. Hiemstra also served on the Statutory Audit Committee. He joined the Board on the 1st of August 2011 and is a past Heineken Regional President for Africa and Middle East.

MRS. NDIDI O. NWUNELI, MFR

Following the completion of her 9-year tenure as an Independent Non-Executive Director, Mrs. Ndidi O. Nwuneli, MFR notified the Board of her stepping down from her position as a Director, by the 31st of December 2023.

MRS. STELLA OJEKWE-ONYEJELI

The Board resolved to appoint Mrs. Stella Ojekwe-Onyejeli as an Independent Non-Executive Director effective the 1st of January 2024, to fill the vacancy on the Board. Mrs. Ojekwe-Onyejeli brings to the Board years of experience as a risk manager with a demonstrated history of working in the financial services industry, and skilled in enterprise risk management, business planning, internal audit, and analytical skills. She currently serves on the boards of Coronation Insurance Plc and Rand Merchant Bank, amongst others. The Company is pleased to have someone with her knowledge and experience join its Board.

Following from above, the Company's Board shall be composed as follows effective the 1st of January 2024:

S. Hiemstra (Dutch) - Chairman; H. Essaadi (Dutch) - Managing Director/Chief Executive; Mrs. J. Anammah; Mrs. A.O. Aroyewun; Mrs. I.M. Omoigui Okauru, MFR; Mrs. S. Ojekwe-Onyejeli; J.A.A. Overmars (Dutch); R. Pirmez (Belgian); I.A. Puri; B.A. Wessels Boer (Dutch).

Uaboi G. AGBEBAKU, FCIS

Company Secretary

Nigerian Breweries Plc has a dedicated Investor Relations page on its corporate website: https://nbplc.com/investor-relations.html.For any

investment-related inquiries, please reach out to our dedicated Investor Relations Team via e-mail:[e-mail];or telephone: +234

(1) 2717400

DIRECTORS: A. Ighodalo - Chairman; H. Essaadi (Dutch) - Managing Director/Chief Executive; Mrs. J. Anammah; Mrs. A.O. Aroyewun; S. Hiemstra (Dutch); Mrs. N.O. Nwuneli, MFR; Mrs. I.M. Omoigui Okauru, MFR; J.A.A. Overmars (Dutch); R. Pirmez (Belgian); I.A. Puri; B.A. Wessels Boer (Dutch).