PROFIT WARNING

The Board of Directors of Uganda Clays Limited (the Company) wishes to inform shareholders and the general public that according to the unaudited financial statements for the half-year January - June 2023, the Company has made a loss.

The loss position is mainly due to a shortage of products that was occasioned by machinery breakdowns. This was exacerbated by the unfavorable macroeconomic conditions, characterized by high inflation and the depreciation of the Ugandan shilling against the Euro, which impacted the company's overall operating and production costs, thus negatively impacting the bottom line.

Accordingly, the shareholders and the general public are advised to exercise caution when dealing in the Company's securities. The Company is the leading manufacturer of quality baked clay building products in Uganda, operating plants in Kajjansi and Kamonkoli. The Company is listed on the Uganda Securities Exchange.

Shareholders are urged to contact the Company's Share Registrar, SCD Registrars, to update their contact details for ease of communication and receipt of dividends. The contacts of the Share Registrar are: UAP Nakawa Business Park, Plot 3-5,New Port

Bell Road, Block A, 4th Floor, P. O. Box 23552, Kampala. Tel: +256-312-370-815/7/8;

email: registry@use.or.ug.

For more details about the Company, please visit: http://www.ugandaclays.co.ug/

This statement is issued according to the USE listing rules, section 38 of the general obligations for disclosure.

Eng. Martin Kasekende

CHAIRMAN OF THE BOARD

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Uganda Clays Ltd. published this content on 18 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2023 07:20:00 UTC.