Options, PDMR dealings and EBT Shareholding

Exercise of Options, PDMR dealing and EBT Shareholding

Ultimate Products, the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, est.1760) and Beldray (est.1872), announces the following purchase of shares on behalf of a Director, grant of options, exercise of options and certain PDMR dealings as a consequence of exercise of options.

Deferred Director Bonus

Following the release of its final results, JTC Employer Solutions Trustee Limited ("JTC"), in its capacity as trustee of the Ultimate Products Employee Benefit Trust ("the Trust"), has purchased 14,624 shares of 0.25 pence each ("Ordinary Shares") on behalf of Chris Dent, Chief Financial Officer. The Ordinary Shares were purchased at 145 pence on 4 December 2023 and represent 30% of Mr Dent's FY23 bonus ("Bonus") as part of the Ultimate Products' Executive Remuneration Policy (the "Remuneration Policy"). Under the terms of the Remuneration Policy, 30% of the Bonus is deferred into Ordinary Shares and will be held by JTC, in a nominee capacity under the Trust, for Mr Dent, vesting in three equal tranches over three years.

As a result, Mr Dent increased his holding to 88,479 Ordinary Shares, representing 0.1% of the Company's issued share capital.

Employee Share Scheme

The Company is pleased to announce that it has made a further round of invitations under its Save As You Earn Scheme (the "SAYE Scheme") to all eligible employees. Under the SAYE Scheme, employees have been offered the opportunity to participate in the future growth of the Company through the granting of share options.

Eligible employees were invited to subscribe for options over Ordinary Shares with an exercise price of 105 pence per Ordinary Share, representing a 20% discount to the average closing mid-market price of the Ordinary Shares on 8 November 2023, being the business day prior to opening of the SAYE scheme for application. The options have a savings contract start date of 1 March 2024 and are exercisable between 1 March 2027 and 30 September 2027.

Out of the 229 eligible employees, 96 elected to participate in the SAYE Scheme and, pursuant to this, a grant of 553,532 options over Ordinary Shares has been made on 4 December 2023, equating to 0.6% of the current issued share capital of 89,312,457 Ordinary Shares. It is currently intended that any future exercise of these options will be satisfied through the Ordinary Shares held in trust by the UP Global Sourcing Employee Benefit Trust, with no dilution to existing shareholders.

As a tax-advantaged share plan compliant with Schedule 3 of the Income Tax (Earnings and Pensions) Act 2003, eligible employees included all UK-based employees and full-time directors who have been employed by the Group for twelve months or more.

Exercise of Options

Further to is announcement on 13 March 2019, on 4 December 2023, under the Company's UP Global Sourcing Performance Share Plan 2017 (the "Plan"), 264,805 share options were exercised at a price of 0.25 pence per option, 208,366 share options were exercised at a price of 59.17 pence per option, 32,967 share options were exercised at a price of 98.87 pence per option and were satisfied by the transfer of, in aggregate, 506,138 Ordinary Shares held by the UP Global Sourcing Employee Benefit Trust (the "EBT"). Of the 506,138 Ordinary Shares allocated from the EBT in satisfying the option exercises, 474,085 Ordinary Shares were subsequently sold in the market at a price of 145 pence per Share.

PDMR dealing

Pursuant to the above, certain persons discharging managerial responsibilities ("PDMR") were granted options over, in aggregate 70,664 Ordinary Shares, certain PDMRs exercised options over, in aggregate, 337,867 Ordinary Shares and of those options exercised, certain PDMRs subsequently sold, in aggregate, 321,244 Ordinary Shares in the market as more fully disclosed in the tables set out further below.

EBT and Issued Share Capital

Following the above transactions, the EBT holds 2,680,132 Ordinary Shares, representing approximately 3.00% of the Company's issued share capital.

The current issued share capital of the Company remains 89,312,457 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules of the FCA.

• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Ordinary Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017
• Price and volume Price (PENCE) Volume Purchase of Ordinary Shares 145.00 14,624 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Purchase of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant of options off-market and purchase of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name Katie Maxwell
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Trading Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Ordinary Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 13,232 Exercise of Options 59.17 17,329 Exercise of Options 98.87 3,759 Sale of Ordinary Shares 145.00 30,417 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Ordinary Shares: 34,320 Option Shares: 40.80 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name David Bloomfield
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Supply Chain Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Ordinary Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 36,868 Exercise of Options 59.17 10,104 Sale of Ordinary Shares 145.00 46,972 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Shares: 46,972 Option Shares: 12.92 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name Emma Greenhalgh (Rawley)
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Trading Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 29,865 Exercise of Options 59.17 37,138 Sale of Ordinary Shares 145.00 67,003 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Shares: 67,003 Option Shares:32.91 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name Duncan Singleton
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Trading Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Ordinary Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 29,865 Exercise of Options 59.17 37,138 Sale of Ordinary Shares 145.00 67,003 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Shares: 67,003 Option Shares:32.91 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name Pete Rawley
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Trading Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 29,865 Exercise of Options 59.17 37,138 Sale of Ordinary Shares 145.00 67,003 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Shares: 67,003 Option Shares:32.91 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name Craig Holden
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Operations & HR Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 18,499 Exercise of Options 59.17 9,284 Sale of Ordinary Shares 145.00 15,063 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Shares: 27,783 Option Shares: 19.94 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Name Jenny Stewart (Scales)
• Details of PDMR / person closely associated with them ( ' PCA ' )
• Position / status Commercial Director
• Initial notification / amendment Initial notification
• Name Ultimate Products Plc
• LEI 213800Q5GWTVIW6KJW33
• Description of the financial instrument Ordinary shares of 0.25p each in the capital of Ultimate Products plc ("Ordinary Shares") ISIN: GB00BYX7MG58
• Nature of the transaction Exercise of options over Shares pursuant to the Company's UP Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares
• Price and volume Price (PENCE) Volume Exercise of Options 0.25 18,499 Exercise of Options 59.17 9,284 Sale of Ordinary Shares 145.00 27,783 Grant of Options 105.00 8,833
• Aggregated information Aggregated volume Price Option Shares: 27,783 Option Shares: 19.94 pence Sale of Ordinary Shares: as above Grant of Options: as above
• Date of the transaction 4 December 2023
• Place of the transaction Grant and exercise of options off-market and sale of shares on-market