SIKKO : SIGNS 3-YEAR MOU TO SUPPLY BIO NPK FERTILIZER FOR $23 MN

• MOU with Operation Wealth Creation (OWC), a Presidential initiative of the Government of Uganda, for organic fertilizer granules (Bio NPK) • Year 1 quantity 50,000 MT at USD 138.96 per MT; firm-rate value ~$6.95 million • Year 2 at 55,000 MT (~$7.64 million) and Year 3 at 60,500 MT (~$8.41 million), both indicative • Three-year total quantity 1,65,500 MT with an indicative value of ~$23 million • Payment contemplated 50% advance before production and 50% by irrevocable letter of credit at sight against bill of lading • Contract to run 3 years from date of execution; Years 2 and 3 subject to two-way annual price review and approvals

Sikko Industries Limited

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