ARBICO : AGM 2022

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the Annual General Meeting of ARBICO Plc will hold at Plot D, Block 7, Industrial Crescent, Ilupeju, Lagos on September 8, 2022 at 11.00am to transact the following business:

ORDINARY BUSINESS

1. Presentation of Audited Financial Statement:

To receive and lay before the meeting the Audited Financial Statements for the year ended December 31, 2021 together with the reports of the Directors, Auditors and Audit Committee thereon.

2. Retirement and Re-election/Appointment of Directors

To retire one-third of the directors of the Company and to re-appoint or appoint new directors in place of those retiring from office or those duly nominated by member(s) of the Company in accordance with the provisions of the Company's Articles of Association and the Companies and Allied Matters Act (CAMA).

3. Appointment and fixing of remuneration for the Auditors

To re-appoint as External Auditors of the Company, the firm of Ernst & Young and to authorize the Directors to fix the remuneration of the External Auditors.

4. Election of members of the Audit Committee

To elect members of the Audit Committee of the Company.

5. Disclosure of remuneration of the Company's managers

To disclose the remuneration of managers of the Company.

NOTES:

1. Proxy

A member of the Company entitled to attend and vote at the Annual General Meeting is entitled to appoint a Proxy to attend and vote on his/her behalf. A proxy need not be a member of the Company. A proxy form is enclosed and if it is to be

valid for the purpose of the Meeting, it must be completed, duly stamped by the Commissioner of Stamp Duties and deposited at the registered office of the Company, the office of the Registrar of the Company, Apel Registrars Limited, 8, Alhaji Bashorun Street, off Norman Williams Crescent, South-West Ikoyi Lagos or forwarded by email to [e-mail] [e-mail] later than 48 hours before the time fixed for the meeting. A corporate member of the Company is required to execute a proxy under seal. Please note that the Company will bear the cost of stamping the proxy forms in line with the guidelines issued by the Corporate Affairs Commission.

However, in line with the Company's obligation to comply with the restriction on mass gatherings and social distancing guidelines prescribed by the Federal Government and Lagos State Government in the conduct of the meetings, members are encouraged to jointly appoint proxies for the meeting as only 15 shareholders will be allowed to be physically present at the venue. For this purpose, the selected proxies include the following;

1. Elder N.C.U Okoro
2. Mr Afolabi Aiyeola
3. Mr Eyo Asuquo
4. Mr Fidelis Ajayi
5. Mr Alkimos Makaronidis
6. Mr Azubuike Okpalaoka
7. Mr Vitalis Anyiam
8. Mr Ademola Olugboyega
9. Anyiam-OsigweRaymond and
10. Greenwich Securities Limited

The meeting will also be accessible to members virtually should such members wish to participate directly without the use of proxies. Members can thus personally join the meeting via Zoom using log-in details which will be provided prior to the meeting.

2. Audit Committee

In accordance with Section 404(6) of the Companies and Allied Matters Act No. 3, 2020 any member may nominate another shareholder as a member of the Audit Committee by giving notice in writing of such nomination to the Company Secretary at least 21

days before the Annual General Meeting. The Securities & Exchange Code of Corporate Governance provides that members of the Audit Committee should have basic financial literacy and should be able to read financial statements. We therefore request that that nominations be forwarded with a copy of the nominee's curriculum vitae.

1. Closure of Register of Members
   The Register of Members and Transfer Books of the Company will be closed from 23rd to 24th August 2022 (both days inclusive).
2. Rights of Shareholders to Ask Questions
   Shareholders have a right to ask questions at the Annual General Meeting and shall be required to send their written questions at least five (5) days before the meeting.

BY ORDER OF THE BOARD

Dated this 8th day of August 2022.

Olaniwun Ajayi LP

COMPANY SECRETARY

FRC/2013/00000000001615