Update due to Russian Invasion

1 March 2022

UKRPRODUCT GROUP LTD
("Ukrproduct" or the "Company")

Update due to Russian Invasion

Ukrproduct Group Ltd (AIM: UKR), one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass), advises that in light of nearby Russian military activity in Ukraine, it has temporarily suspended operations at its Zhytomyr plant.  The Company produces processed cheese and Kvass at this site.  Operations continue at its Starokostiantyniv and Letychiv plants, although they have of course been affected by the invasion of the country.  The Starokostiantyniv plant, where Ukrproduct produces the bulk of its products and in particular packaged butter, spreads, hard cheese and skimmed milk powder, is currently operating at approximately half of its normal volumes for this time of year.  Deliveries have been affected due to military activity on the roads and nightly curfews.  As will be appreciated, the financial impact of the invasion will be negative on the Company but it is too early at this stage to estimate the extent of that impact.

The Company is taking all measures available to protect and safeguard its personnel and business. The safety and wellbeing of its personnel is paramount and the Company will continue to take all possible steps to ensure their safety.

Further announcements will be provided as appropriate.

For further information, please contact:

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.