UPDATE ON THE PUBLICATION OF THE AUDITED FINANCIAL STATEMENT OF OANDO PLC

Lagos, Nigeria – Oando PLC (“Oando” or the “Company”) wishes to update its shareholders and stakeholders on the delay in the release of its 2020 and 2021 Audited Financial Statements, as well as Q1-Q3 2022 Unaudited Financial Statements as prescribed by the NGX Rules on Filing of Accounts and Treatment of Default Filing.

Further to the Press Release of the Company dated February 3, 2022, the Company held its 43rd Annual General Meeting in August 2022, at which shareholders approved the 2019 Audited Financial Statements of the Company and appointed BDO Professional Services as new external auditors for the purpose of auditing the Company’s 2020 and 2021 Audited Financial Statements.

Unfortunately, due to the lengthy onboarding process required for new external auditors and the complexity of auditing the several companies that make up the Oando Group, we wish to notify the market that the conclusion of the audit has been slightly delayed. We envisage that the board of directors and auditors will be in position to approve our financial statements in line with the now revised timetable below:

	Tentative dates	Accounts to be released
1	February 28, 2023	2020 Audited Financial Statements
2	May 31, 2023	2021 Audited Financial Statements
3	June 30, 2023	Q1-Q4 2022 Unaudited Financial Statements
4	August 31, 2023	2022 Audited Financial Statements

The Company sincerely regrets the inconvenience caused to our esteemed stakeholders by this further delay and can confirm that concerted efforts are being made to finalize the above-stated accounts as soon as possible so as to ensure that the Company is in full compliance with its regulatory obligations.

Ends.

For further information, please contact:

Ayotola Jagun

Company Secretary

The Wings Office Complex

17a Ozumba Mbadiwe Avenue

Victoria Island,

Lagos, Nigeria.

Tel: +234 (1) 270400, Ext 6159

ajagun@oandoplc.com

Alero Balogun

Head, Corporate Communications