DISCLOSURE OF MATERIAL INFORMATION

Secretary's Department

SD/UBL/PSX/Sub-Division/NoC-SBP /25

23 May 2025

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building, 

Stock Exchange Road

Karachi

Dear Sir,

DISCLOSURE OF MATERIAL INFORMATION

In accordance with the applicable provisions of the Securities Act, 2015 and Rule Book of the Pakistan Stock Exchange Limited ("Exchange"), we hereby convey the following information:

"This is in continuation of our disclosure dated May 16, 2025, wherein it was communicated that the shareholders of United Bank Limited ("Bank") had approved the subdivision of the Bank's existing share capital, comprising authorized, issued, and paid-up capital, such that each one (01) ordinary share of face value of PKR 10/- would be subdivided into two (02) ordinary shares of face value of PKR 5/- each. This subdivision does not alter any rights, privileges, or entitlements attached to the shares. The implementation of the shareholders' resolution was subject to obtaining the State Bank of Pakistan's ("SBP") approval / No Objection for the necessary amendments in the Bank's Memorandum and Articles of Association.

We are pleased to inform you that the SBP, vide its letter dated 21 May 2025, has conveyed its "No Objection" to the proposed amendments in the Memorandum and Articles of Association of UBL reflecting the approved subdivision of the share capital of the Bank.

The Bank will continue to keep the Exchange informed of any material developments on this matter."

You are requested to disseminate the above information to TREC Holders of the Exchange.

Kind regards,

Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

Copy to:

1) HOD, Supervision Division, Securities and Exchange Commission of Pakistan, NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad.

2) London Stock Exchange

"ANNEXURE - A" 

DISCLOSURE FORM 

IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015

Disclosure of Material Information by Listed Company in Terms of Section 96 & 131 of the Securities Act, 2015.

"This is in continuation of our disclosure dated May 16, 2025, wherein it was communicated that the shareholders of United Bank Limited ("Bank") had approved the subdivision of the Bank's existing share capital, comprising authorized, issued, and paid-up capital, such that each one (01) ordinary share of face value of PKR 10/- would be subdivided into two (02) ordinary shares of face value of PKR 5/- each. This subdivision does not alter any rights, privileges, or entitlements attached to the shares. The implementation of the shareholders' resolution was subject to obtaining the State Bank of Pakistan's ("SBP") approval / No Objection for the necessary amendments in the Bank's Memorandum and Articles of Association.

We are pleased to inform you that the SBP, vide its letter dated 21 May 2025, has conveyed its "No Objection" to the proposed amendments in the Memorandum and Articles of Association of UBL reflecting the approved subdivision of the share capital of the Bank.

The Bank will continue to keep the Exchange informed of any material developments on this matter."

Sd/-

Aqeel Ahmed Nasir

Company Secretary & Chief Legal Counsel

Dated: 23 May 2025