NIGERIAN EXCHANGE : ANNOUNCEMENT ON NGX GROUP AUDITED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

NGX Group Audited FY 2023 Results

NGX Ticker: NGXGROUP; Bloomberg Ticker: NGXGROUP:NL

RC: 2321

ANNOUNCEMENT1

NGX Group Achieves Profit After Tax of N5.2bn

---approves N1.5bn dividend for shareholders. Lagos, 3 March 2024

Nigerian Exchange Group Plc (NGX Group or the Company) on Friday, 1 March 2024 released its full year Audited Financial Statements for the year ended 31 December 2023, with a profit after tax of N5.2bn during the financial year.

Gross earnings surged by 57.4%, increasing to N11.8 billion in FY 2023 from N7.5 billion in FY 2022. This was driven by notable performances in core revenue and other income segments. Transaction fees rose by 52.6% on the back of amplified trading activities. Listing fees increased by 42.2% just as rental income rose by 41.8% and strategic 5.4% boost in treasury investment income.

Other income, representing 29.7% of gross earnings, saw an unprecedented rise of 163.6%, reaching N3.504 billion. Key contributors to this were market data income which increased by 44.1%, and an exceptional 304.8% rise in other operating income.

Following the strong operational performance, the Board had approved a final dividend of N1.5bn at 75 Kobo per share for the year ended 31st December 2023, in addition to an interim dividend of N495.53m at 25 Kobo per share that was paid in August 2023, bringing the total dividend for FY 2023 to N1 per share. While the information on the interim dividend was disclosed, the final dividend of N1.5bn was inadvertently omitted in the financial statements published on 1 March 2023. This information has now been included in the revised financial statements released.

NGX Group's profitability metrics highlight a significant turnaround and operational success. Operating profit reversed from a loss to an impressive gain of N433 million, a 130.2% improvement, reflecting operational efficiency and profitability transformation. Profit before income tax skyrocketed by 639%, reaching N5.27 billion, driven by strong revenue performance and optimized cost management. This was capped by a 788% surge in after-tax profit to N5.25 billion, with a dramatically improved profit after tax margin of 44.49%, showcasing the Group's financial health and earnings quality.

Cyril Eigbobo

Group Chief Financial Officer

Statement on Investors' Relations Nigerian Exchange Group Plc has a dedicated investors' portal on its corporate website which can be accessed via this link: https://ngxgroup.com/investor- relations/The Company's Investors' Relations Department can also be reached through electronic mail at: [e-mail]; or telephone on: [phone], [phone] for any investment related enquiry.

1 Numbers in this press release are subject to rounding errors.

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