6 - 8 Ahmadu Bello Way Victoria Island Lagos Nigeria

Telephone +234 (1) 277 9000

Websites: www.tcn.com.ng

ww.suninternational.com

Lagos, 15 March 2024

The Tourist Company of Nigeria Plc (TCN) - Expected Delay in filing of Annual Report for the Year Ended 31 December 2023

The Tourist Company of Nigeria Plc (TCN or the Company) wishes to notify Nigerian Exchange Limited (NGX), its shareholders and the investing public that the Company will not be able to release its Audited Financial Statements for the year ended 31 December 2023 (2023 AFS) within the regulatory due date of 31 March 2024.

This delay is due to the fact that TCN's external auditor, BDO Professional Services, will likely qualify its opinion as there is a Material Uncertainty Related to Going Concern paragraph which will be included in its audit opinion.

In compliance with Section 8 (1)(n) of the Financial Reporting Council Act No. 6, 2011, Rule 5 which states that the Financial Reporting Council of Nigeria (FRCN) shall receive copies of all qualified reports together with detailed explanations for such qualifications from the auditors of the financial statements, and that the financial statements shall not be released until all accounting issues have been resolved by the Financial Reporting Council of Nigeria (FRCN), BDO is required to send a copy of the financial statements approved by the TCN Board together with an explanatory memorandum to the FRCN, for review and clearance before the results can be released to the investing public.

However, the Company anticipates that the 2023 AFS will be released on or before 28 June 2024.

For: PUNUKA Nominees Limited

Lovelyn Aniekwe

Company Secretary

The Tourist Company of Nigeria Plc (trading as Federal Palace Hotel & Casino) Directors Chief A Idigbe SAN A Bulama T A Ibru U Ibru

AG Johnston* DR Mokhobo* GI Wood* TJD Kliegl* ** (*South African) (**Executive)

Company Registration No.: RC3781; TIN No.: 00275919-0001

Company Secretary: Punuka Nominees Limited

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Tourist Company of Nigeria plc published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2024 08:46:09 UTC.