Resolutions passed at the fourth annual general meeting

Lagos, September 12, 2025

At the Fourth Annual General Meeting of the members of BUA Foods Plc held on Thursday, 11th September 2025, at Transcorp Hilton Hotel, No. 1, Aguiyi Ironsi Street, Maitama, Abuja, at 11:00a.m, the following resolutions were duly passed:

1. That the Audited Financial Statements of the Company together with the Report of the Directors and Auditors thereon as well as the Audit Committee Report for the year ended 31 December 2024 be received.

2. That the recommended dividend of N13:00 (Thirteen Naira) per one ordinary share of 50k be and is hereby approved.

3. That the re-election of the following directors, Kabiru Rabiu and Chimaobi Madukwe retiring by rotation be and is hereby approved.

4. That the Directors be and are hereby authorised to determine the remuneration of the Auditors for the financial year ending 31st December 2025.

5. That the following shareholders' representative be and are hereby appointed as members of the Statutory Audit Committee:

   1. Musa Bichi

   2. Eric Akinduro Akinnifesi

   3. Nwokocha Innocent Peters

      The Board's representative on the Statutory Audit Committee are:

   4. Oluyemisi Lowo Adesola

   5. Chimaobi Madukwe

6. That the remuneration of the Managers of the Company be and is hereby disclosed.

7. That the remuneration of the Non-Executive Directors for the 2025 financial year be and is hereby approved.

8. That the attainment of 70 Years by Finn Arnoldsen be and is hereby disclosed.

   
   
   

9. That in compliance with the rules of the Nigerian Exchange Limited governing transactions with related parties or interested parties, a general mandate be and is hereby granted to the Company, acting through its directors, to enter recurrent transactions with related parties for the Company's day-to-day operations, including the procurement of goods and services, on normal commercial terms.