OANDO PLC - Oando Plc Provides an Update on the 2023 Audited Financial Statements Filing Timeline

Oando Plc Provides an Update on the 2023 Audited Financial Statements Filing Timeline

 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")


                             Lagos, 25 October 2024

   OANDO PLC PROVIDES AN UPDATE ON THE 2023 AUDITED FINANCIAL STATEMENTS
                              FILING TIMELINE

Oando PLC ("Oando" or the "Company"), Nigeria's leading indigenous energy group listed on the
Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE), hereby refers
the public and our shareholders to our prior publication of October 2, 2024, wherein we informed
of a delay in the completion and publication of our 2023 Audited Financial Statements (AFS) due
to the materiality of our recently completed acquisition, and communicated that we would be
publishing said financials by October 23, 2024. We hereby regret to notify the public of a seven-
day delay.

We wish to further provide an update that the Audit Committee and Company's Board had
convened as scheduled to review and approve the 2023 AFS and had provisionally approved the
financials presented subject to the issuance of the auditors' opinion. However, the Auditors
requested additional time to finalize their Audit Opinion, which now includes evaluating the impact
of the acquisition.

Once the Audit Opinion is issued and the financial statements are approved by the Audit
Committee and the Board on October 30, 2024, the Auditors will submit the financials to the
Financial Reporting Council of Nigeria (FRCN) for approval, after which they can be published on
the NGX and JSE Limited. Accordingly, and in line with the FRCN's approval timeline, we
anticipate that the 2023 AFS will be published on or before November 1st, 2024.

Again, we sincerely apologize for any inconvenience these delays may have caused and greatly
appreciate the patience of our stakeholders during this time.

Ends

For further information, please contact:

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

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

For: Oando PLC

Ayotola Jagun (Ms.)
Chief Compliance Officer and Company Secretary

JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited

Date: 28-10-2024 07:05:00
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