NEM INSURANCE : NOTICE OF DELAY IN FILING OF 2023 AUDITED FINANCIAL STATEMENTS

20th March 2024

Lagos, Nigeria.

NOTICE OF DELAY IN FILING AND PUBLICATION OF AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31ST DECEMBER 2023

This is to notify our esteemed stakeholders, and the investing public that NEM Insurance Plc ("the Company") may be unable to file its Audited Financial Statements (AFS) for the year ended 31st December 2023, within the regulatory due date of 30th March 2024, as required by the Rules of the Nigerian Exchange Limited (NGX) and the Consolidated Rules of the Securities & Exchange Commission.

This is due to unforeseen delays in concluding the approval process within the stipulated time, particularly with the introduction of the IFRS 17 Accounting Standards which require several changes in the disclosure methods. The Nigerian Insurers Association (NIA) after various engagements with the National Insurance Commission (NAICOM) on the above subject matter, has graciously obtained on behalf of listed insurance companies, an extension of time for submission of the Audited Financial Statements ("AFS") to the Exchange and the Securities & Exchange Commission (SEC).

Please be assured that the company is working assiduously to ensure that the Audited Financial Statements for the year ended 31st December 2023 is filed not later than the 30th of May 2024.

NEM Insurance Plc regrets the inconveniences that this delay may cause its esteemed stakeholders and the investing public.

Thank you.

For: NEM Insurance Plc.

Ifunanya Iwuagwu

Company Secretary

NEM HOUSE

199, Ikorodu Road, Obanikoro, Lagos.

P.O.Box 654, Marina. Tel:[phone]

NEM Support Centre: 01-4489570-2

Tope Smart (Chairman), Papa Ndiaye (Non-Executive), Kelechi Okoro (Non-Executive), Yakasai Ahmed (Independent), Anthony Aletor (Non- Executive), Joy Teluwo (Non-Executive)

Dr. Daphne Dafinone (Non-Executive), Abisola Giwa-Osagie(Non-Executive), Idowu Semowo (Executive), Andrew Ikekhua (Managing)