TANZANIA BREWERIES LIMITED HOSTS 51ST ANNUAL GENERAL MEETING

TBL Board Chairman, Mr. Leonard Mususa addresses shareholders during the 51st Annual General Meeting (AGM) held at the Julius Nyerere International Convention Centre in Dar es Salaam yesterday. This event highlighted TBL PLC’s financial performance, strategy and market position. With him left is the Company Secretary, Esther Kuja and Board Member, Phocus J.I. Lasway (right).

Dar es Salaam, July 25, 2024 - Tanzania Breweries Public Limited Company (TBL PLC), Tanzania's leading beverage manufacturer, is delighted to announce its 51st Annual General Meeting (AGM) at the renowned Julius Nyerere International Convention Centre. This event will highlight TBL's financial performance, strategy, and market position.

The AGM, expected to be attended by various stakeholders, will cover the growth and development of TBL and the entire group, as well as the challenges faced over the past year. TBL will also showcase how their applied innovations in driving production growth.

A crucial agenda item at the AGM will be the ratification of dividends paid of TZS 537 per share (equivalent to TZS 158,445 million) for the year ended December 31, 2023, an 85% increase over the prior year. This illustrates TBL PLC's commitment in delivering consistent returns to its esteemed shareholders.

TBL Board Chairman Mr. Leonard Mususa, said, "We are proud to announce that despite the challenging operating conditions of 2023, including global geopolitical tensions and local excise duty hikes, Tanzania Breweries Public Limited Company (TBL PLC) demonstrated resilient growth and delivered significant value to our shareholders. Our steadfast execution of strategic initiatives and the market's confidence in our diverse portfolio of brands resulted in a notable increase in revenue, enabling us to approve and distribute a dividend of TZS 537 per share—an impressive 85% increase over the previous year. This accomplishment underscores our commitment to creating long-term value for our shareholders and reinforces our position as one of the nation’s leading contributors to economic growth."

Furthermore, the AGM involved the approval of the appointment of PricewaterhouseCoopers as the external auditors for the upcoming financial year ending December 31, 2024, highlighting TBL PLC's unwavering dedication to sound financial governance and transparency.

Key Performance Indicators:

• Revenue and Profit Growth: The company delivered another year of consistent profitable growth, with revenue increasing by 12% and operating profit by 4%. Revenue growth was driven by both beer and spirits, with significant contributions from the core and core-plus segments of the beer business and spirits. The Group continues to execute its proven commercial strategy and increase sales and marketing investments behind its portfolio of beer and beyond beer brands to deliver consistent growth and long-term value creation.
• Local Sourcing and Employment: TBL procures over 74% of its raw materials from within the country, directly and indirectly supporting the creation of over a million jobs throughout its supply chain. These accomplishments have reinforced TBL's status as Tanzania's top employer and manufacturer.
• Tax Contributions: TBL paid TZS 586 billion in taxes to the government in 2023, compared to TZS 528 billion the year before, solidifying its position as one of the nation's biggest taxpayers.

The AGM promises to be an insightful event, reflecting on TBL’s achievements and setting the stage for future success.

About Tanzania Breweries Public Limited Company (TBL PLC):

Tanzania Breweries Public Limited Company (TBL Plc) is Tanzania’s first and oldest brewery. Established in 1933 as Tanganyika Breweries, we are a proud member of the AB InBev Group of companies, the largest brewer in the world. We operate breweries in Dar es Salaam, Arusha, Mwanza and Mbeya, a distillery in Dar es Salaam and seven depots across the country.

TBL Plc has a portfolio of over 15 brands, which include Safari Lager, Kilimanjaro Premium Lager Kili Lite, Castle Lite, Castle Lager, Balimi Lager, Flying Fish, Safari Double Malt, Redds Premium Cold, Bia Bingwa, Eagle Lager, and Grand Malt. Other prominent brands associated with TBL Plc are Konyagi Gin, Valeur Brandy, Zanzi Cream Liqueur, and Dodoma and Imagi Wines.

TBL is also a Sustainable business dedicated to inspiring and empowering consumers to create a Better World. This is because building a better world is a task that can only be achieved when we work together, even when we’re at a distance.