Oando PLC – Update on Tranche 2 Share Distribution

Oando PLC
(Incorporated in Nigeria and registered as an external company in
South Africa)
Registration number: RC 6474
(External company registration number 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or the "Company")


                      Oando PLC – Update on Tranche 2 Share Distribution

                                             19 February 2025


    At the 45th Annual General Meeting (AGM) of Oando Plc ("the Company") held on Tuesday,
    17 December 2024, shareholders approved that the Company may distribute shares received to
    shareholders of record on such date(s) as the Board of Directors may determine from time to time,
    on a pro-rata basis.

    Pursuant to this shareholder resolution, the Company notified the Nigerian Exchange Limited and
    the investing public on Wednesday 5 February 2025 that the Board of Directors on Thursday
    30 January 2025, resolved to implement the distribution of the Company's shares made available
    under the 45th AGM resolution in phases. The Company further committed to ensuring that all
    shares to be distributed pursuant to the AGM resolution would be distributed within 36 (thirty-six)
    months commencing on Thursday 30 January 2025.

    The Board of Directors of the Company resolved that the first phase of the distribution would apply
    to shareholders on the Company's register of members at the close of business on Friday
    14 February 2025 (Tranche 1); and on Monday 30 June 2025 (Tranche 2) (the "Qualification
    Dates").

    Following the completion of the Tranche 1 distribution in August 2025, and in furtherance of the
    above shareholder resolution, the Nigerian Exchange Limited and the investing public are hereby
    notified that on Tuesday 10 February 2026, the Board of Directors of the Company resolved to
    proceed with the Tranche 2 distribution of the remaining 604,348,395 ordinary shares under the
    first phase. The distribution will be made to shareholders on the register of members as at the
    Tranche 2 Qualification Date of Monday 30 June 2025, on a pro-rata basis of two (2) new ordinary
    shares for every twenty-seven (27) existing ordinary shares. The Tranche 2 distribution is
    expected to be completed on or before Tuesday 31 March 2026.

    The dates below apply in South Africa in respect of the Tranche 2 distribution:

     Event                                               Date
     Last Day to Trade                                   25 June 2025
     Ex date                                             26 June 2025
     Record Date                                         30 June 2025
     Estimated Payment Date                              31 March 2026

    In respect of fractional entitlements that arise, all allocations will be rounded down to the nearest
    whole number if they are less than 0.5 and rounded up to the nearest whole number if they are
    equal to or greater than 0.5, and no cash portion will be payable for any fractional entitlement.

    South African shareholders are advised to consult their own tax and/or professional advisors to
    understand the tax implications of the distributions.

    Ends
    For further information, please contact:

    Folasade Ibidapo-Obe
    Company Secretary
    The Wings Office Complex,
    17a Ozumba Mbadiwe Avenue,
    Victoria Island, Lagos, Nigeria.
    Tel: +234 (1) 270400, Ext 6012
    fibidapo-obe@Oandoplc.com


    Adeola Ogunsemi
    Group Chief Financial Officer
    The Wings Office Complex
    17a Ozumba Mbadiwe Avenue,
    Victoria Island, Lagos, Nigeria.
    Tel: +234 (1) 270400, Ext 6506
    aogunsemi@oandoplc.com


    For: Oando PLC


    Mrs. Folasade Ibidapo-Obe
    Chief Compliance Officer & Company Secretary


JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited

Date: 19-02-2026 01:49:00
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