OANDO PLC - Oando Announces Successful US$550m Participation in Project Gazelle

Oando Announces Successful US$550m Participation in Project Gazelle

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 Announces Successful US$550m Participation in Project Gazelle
                                              June 7, 2024


LAGOS, NIGERIA June 6, 2024 – Oando PLC, Nigeria's leading indigenous energy group, hereby wishes
to notify the public that on May 17, 2024, it was party to the successful closure of a US$925m accordion
arranged and coordinated by African Export-Import Bank (Afreximbank) for Project Gazelle. The accordion
arrangement saw a contribution of US$550m by Oando Trading, a subsidiary of Oando PLC. The balance
$375m was raised by other parties to get a total disbursement amount of US$925m.

Project Gazelle is a US$3.3 billion structured crude oil-backed forward-sale finance facility sponsored by
the Nigerian National Petroleum Company Limited (NNPC Limited).

This landmark US$3.3bn Afreximbank-arranged financing is the largest syndicated loan ever raised by
Nigeria in the international market and one of the largest syndicated debts raised in Africa in recent years.

Speaking on Oando's participation, Wale Tinubu, Group Chief Executive, Oando PLC said "The successful
completion of this facility signifies another win for the company and the country at large. The transaction
further reinforces Oando's ability to create value and the Company's status as the indigenous partner of
choice in Nigeria. As a proudly indigenous company our ambition has always been to use our platform to
support the sustainable development of the nation. Against this backdrop, Project Gazelle will be
instrumental in realizing the Federal Government's efforts to boost the country's socio-economic indices.
Afreximbank as lead arranger continues to support African corporations - public and private growing
confidence in the market and continent."


Ends.

For further information, please contact:


 Ayotola Jagun                                   Alero Balogun
 Company Secretary                               General Manager, Business Support Group
 The Wings Office Complex,                       The Wings Office Complex,
 17a Ozumba Mbadiwe Avenue,                      17a Ozumba Mbadiwe Avenue,
 Victoria Island, Lagos, Nigeria.                Victoria Island, Lagos, Nigeria.
 Tel: +234 (1) 270400, Ext 6159                  Tel: +234 (1) 270400, ext. 6761
 ajagun@oandoplc.com                             albalogun@oanodplc.com


For: Oando PLC
Ayotola Jagun (Ms.)
Chief Compliance Officer and Company Secretary


JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited

Date: 07-06-2024 11:16:00
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