Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%

LAGOS, NIGERIA - EQS Newswire - 13 June 2022 - The United Bank for Africa Plc (�UBA� or the �Group�) (www.UBAGroup.com) on Wednesday 8^th June, redeemed its $500 million 5-year Eurobond notes, with a maturity date of June 8, 2022.

Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%.

As part of UBA�s liability management strategies, in November 2021, the Group repurchased $310.9 million of the notes through a cash tender offer. Upon maturity, the outstanding portion of $189.1 million and the coupon of $7.3 million were paid.

"The Group�s selective participation in international debt markets is a testament to UBA�s robust and prudent liquidity management strategies, coupled with a very strong and diversified asset and liability management process." said Kennedy Uzoka, GMD/CEO of UBA.

�Our significant customer base, diversified geographical spread and multiple decades of proven track record, continue to ensure that UBA is the preferred destination for investors, individuals, and businesses alike,� Uzoka continued.

With presence in 20 African countries, including Nigeria, as well as operations in France, the UK and being the only sub-Saharan African bank with a deposit-taking licence in the USA, UBA is a leading African financial institution providing banking and financial services to over 33 million customers across the globe.

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The issuer is solely responsible for the content of this announcement.