5 May 2022

UP Global Sourcing Holdings plc

"Ultimate Products" or the "Group"

Exercise of options under the Employee Share scheme,

PDMR dealing and EBT holding in Company

Ultimate Products, the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, est.1760) and Beldray (est.1872), is pleased to announce that under its Save As You Earn Scheme (the "SAYE Scheme"), a total of 719,963 share options have been exercised at the price of 39.5 pence per option and will be satisfied by the transfer of 719,963 existing ordinary shares of 0.25 pence in the Company ("Shares") currently held by the UP Global Sourcing Employee Benefit Trust ("the EBT"). Of the 719,963 share options exercised, in aggregate, 154,931 share options were exercised by persons discharging managerial responsibilities ("PDMRs") as set out more fully below.

Following the above transaction, the EBT now holds 3,025,851 Shares, representing 3.39 % of the Company's issued share capital with voting rights. The EBT holds Shares for the benefit of the Company's employees and satisfies the vesting of awards made under the Company's incentive schemes.

The issued share capital of the Company on 5 May 2022 was 89,312,457 Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules of the FCA.

For more information, please contact:

Ultimate Products +44 (0) 161 627 1400

Simon Showman, CEO

Andrew Gossage, Managing Director

Graham Screawn, Finance Director

Shore Capital +44 (0) 20 7408 4090

Mark Percy

Malachy McEntyre

James O'Neill

Powerscourt +44 (0) 207 250 1446

Rob Greening

Sam Austrums

ultimateproducts@powerscourt-group.com

Pursuant to the notification obligations in accordance with Article 19 of the Market Abuse Regulation (MAR)

About Ultimate Products

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group's products.

Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling. Other brands include Progress (cookware and bakeware), Kleeneze (laundry and floorcare), Petra (small domestic appliances) and Intempo (audio).

The Group's products are sold to a broad cross-section of both large national and international multi-channel retailers as well as smaller national retail chains, incorporating discount retailers, supermarkets, general retailers and online retailers.

Founded in 1997, Ultimate Products employs over 350 staff, a significant number of whom have joined via the Group's graduate development scheme, and is headquartered in Oldham, Greater Manchester, where it has design, sales, marketing, buying, quality assurance, support functions and warehouse facilities across two sites. Manor Mill, the Group's head office, includes a spectacular 20,000 sq ft showroom that showcases each of its brands. In addition, the Group has an office and showroom in Guangzhou, China and in Cologne, Germany.

Please note that Ultimate Products is not the owner of Russell Hobbs. The company currently has licence agreements in place granting it an exclusive licence to use the "Russell Hobbs" trademark for cookware (NB this does not include Russell Hobbs electrical appliances).

For further information, please visit www.upgs.com