Launch of Share Buyback Programme

Further to its announcements of 9 April 2024 and 2 May 2024, 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 that it will commence a share buyback programme in respect of its ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") from the date of this announcement (the "Share Buyback Programme").

The Share Buyback Programme will operate in accordance with the terms of Company's general authority to purchase a maximum of 8,931,245 Ordinary Shares gained at the Company's General Meeting held on 2 May 2024 ("General Meeting"). Any Ordinary Shares purchased under the Share Buyback Programme will be cancelled and the number of Ordinary Shares in issue reduced accordingly.

The Company expects the Share Buyback Programme to be completed in tranches, over defined time periods, with the first tranche consisting of up to a maximum consideration of £1 million to purchase Ordinary Shares until 31 July 2024 ("Tranche 1"). The Company has given irrevocable and non-discretionary instructions to Shore Capital Stockbrokers Limited ("Shore Capital") in relation to Tranche 1. Shore Capital will act as principal during Tranche 1 and will make trading decisions concerning the timing of the purchases of Ordinary Shares independently of the Company. The Company will announce subsequent tranches of the Share Buyback Programme prior to the initiation of each new tranche. These tranches are expected to alternate between the Company's joint brokers, in each case acting as principal.

Details of the authority granted at the General Meeting can be found on our website under: https://upplc.com/investor-relations/annual-meeting/