ANNUAL REPORT
2017

Dear Shareholders

The Board of Directors is pleased to present to you the Annual Report of The United Basalt Products Limited ("UBP") for the year ended June 30, 2017, the contents of which are listed hereafter.

This report was approved by the Board of Directors on September 21, 2017

Sign Marc F.

MARC FREISMUTH

Chairman

Sign Stephane U.

STÉPHANE ULCOQ

Chief Executive Officer

Annual Report by NUMBERS