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SINGAPORE – Media OutReach Newswire – 10 February 2025 – Kids Haven, a kid’s furniture provider, is pleased to announce the continuation of its partnership with Children’s Wishing Well, a charity supporting children and families in need. Building on their successful collaboration in 2022, both organisations are now working together on a long-term fundraising initiative with another children’s art workshop planned for March 2025. Kids Haven is partnering with Children’s Wishing Well Ongoing Fundraising Campaign In 2024, the company launched a fundraising campaign within its showroom to raise funds for Children’s Wishing Well. The campaign includes the sale of keychains and plushies to support the Children’s Enrichment Programme (CEP), with all proceeds going directly to the charity. The CEP provides children with opportunities to attend various enrichment classes, including fencing, arts, and public speaking workshops. To facilitate donations, the company has set up a Giving.sg account, enabling customers to donate conveniently. The platform also tracks the total funds raised, ensuring transparency throughout the campaign. In addition to running the fundraising campaign, Kids Haven has also raised awareness for the programme and the charity organisation. The company has displayed posters in its showroom, featured a website banner, and shared a YouTube video on its channel to provide the public with information about the beneficiaries and the CEP. Past Collaboration and Long-Term Commitment Kids Haven first partnered with Children’s Wishing Well in 2022 for a workshop that introduced children to various roles within the furniture industry. The workshop provided hands-on experiences in areas such as delivery and design. Following the positive response from the event, the company decided to strengthen the collaboration by establishing a long-term partnership focused on lasting impact. Additionally, the company has collaborated with Ngee Ann Polytechnic’s Corporate Purpose Internship Programme to hire interns who are familiar with community engagement initiatives. These interns oversaw the company’s partnerships with charity organisations, including Children’s Wishing Well, and explored further opportunities to give back to society. Future Plans and Upcoming Workshop In March 2025, the company will host a workshop for children from Children’s Wishing Well, which would include art activities and games. Artwork created during the session may be considered for future product designs, with proceeds from those items donated to the charity. This workshop follows the company’s commitment to integrating community involvement while aligning with its mission of providing quality children’s furniture. “Our partnership with Children’s Wishing Well reflects our commitment to supporting initiatives that benefit the community,” said Jeremy Teo, Co-Founder of Kids Haven. “This fundraising campaign aligns with our goal to contribute meaningfully to children’s well-being through sustained collaboration.” For more information about their ongoing fundraising campaigns, visit the websites of Kids Haven and Children’s Wishing Well. Hashtag: #KidsHaven https://kidshaven.sg/https://sg.linkedin.com/company/kids-haven-children-furniturehttps://www.facebook.com/KidsHavenChildrenFurniture/https://www.instagram.com/kidshaven_sg The issuer is solely responsible for the content of this announcement. About Kids Haven Kids Haven is a retailer specialising in high-quality furniture tailored for children’s rooms. Prioritising safety, functionality, and sustainability, the company provides a wide range of products designed to meet the needs of families. Customers can conveniently shop for furniture online in Singapore, including beds, desks, and storage solutions. About Children’s Wishing Well Children’s Wishing Well is a non-profit organisation in Singapore dedicated to supporting children and families experiencing financial challenges. The organisation offers a range of initiatives aimed at enhancing the well-being and opportunities available to children.

SINGAPORE – Media OutReach Newswire – 10 February 2025 – Kids Haven, a kid’s furniture provider, is pleased to announce the continuation of its partnership with Children’s Wishing Well, a charity supporting children and families in need. Building on their successful collaboration in 2022, both organisations are now working together on a long-term fundraising initiative with another children’s art workshop planned for March 2025. Kids Haven is partnering with Children’s Wishing Well Ongoing Fundraising Campaign In 2024, the company launched a fundraising campaign within its showroom to raise funds for Children’s Wishing Well. The campaign includes the sale of keychains and plushies to support the Children’s Enrichment Programme (CEP), with all proceeds going directly to the charity. The CEP provides children with opportunities to attend various enrichment classes, including fencing, arts, and public speaking workshops. To facilitate donations, the company has set up a Giving.sg account, enabling customers to donate conveniently. The platform also tracks the total funds raised, ensuring transparency throughout the campaign. In addition to running the fundraising campaign, Kids Haven has also raised awareness for the programme and the charity organisation. The company has displayed posters in its showroom, featured a website banner, and shared a YouTube video on its channel to provide the public with information about the beneficiaries and the CEP. Past Collaboration and Long-Term Commitment Kids Haven first partnered with Children’s Wishing Well in 2022 for a workshop that introduced children to various roles within the furniture industry. The workshop provided hands-on experiences in areas such as delivery and design. Following the positive response from the event, the company decided to strengthen the collaboration by establishing a long-term partnership focused on lasting impact. Additionally, the company has collaborated with Ngee Ann Polytechnic’s Corporate Purpose Internship Programme to hire interns who are familiar with community engagement initiatives. These interns oversaw the company’s partnerships with charity organisations, including Children’s Wishing Well, and explored further opportunities to give back to society. Future Plans and Upcoming Workshop In March 2025, the company will host a workshop for children from Children’s Wishing Well, which would include art activities and games. Artwork created during the session may be considered for future product designs, with proceeds from those items donated to the charity. This workshop follows the company’s commitment to integrating community involvement while aligning with its mission of providing quality children’s furniture. “Our partnership with Children’s Wishing Well reflects our commitment to supporting initiatives that benefit the community,” said Jeremy Teo, Co-Founder of Kids Haven. “This fundraising campaign aligns with our goal to contribute meaningfully to children’s well-being through sustained collaboration.” For more information about their ongoing fundraising campaigns, visit the websites of Kids Haven and Children’s Wishing Well. Hashtag: #KidsHaven https://kidshaven.sg/https://sg.linkedin.com/company/kids-haven-children-furniturehttps://www.facebook.com/KidsHavenChildrenFurniture/https://www.instagram.com/kidshaven_sg The issuer is solely responsible for the content of this announcement. About Kids Haven Kids Haven is a retailer specialising in high-quality furniture tailored for children’s rooms. Prioritising safety, functionality, and sustainability, the company provides a wide range of products designed to meet the needs of families. Customers can conveniently shop for furniture online in Singapore, including beds, desks, and storage solutions. About Children’s Wishing Well Children’s Wishing Well is a non-profit organisation in Singapore dedicated to supporting children and families experiencing financial challenges. The organisation offers a range of initiatives aimed at enhancing the well-being and opportunities available to children.

The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process HARARE, ZIMBABWE – EQS Newswire – 8 February 2025 – The Government of the Republic of Zimbabwe is honouring its commitment to compensate investors protected by Bilateral Investment Protection and Promotion Agreements (BIPPAs), whose investments were affected by the Land Reform Programme in 2000. This follows the disbursement of funds from the US$20 million allocated for the compensation of BIPPA-protected farms in the 2024 National Budget. The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process. Providing an update on the payments, the Minister of Finance, Economic Development, and Investment Promotion, Honourable Professor Mthuli Ncube stated, “I am pleased to announce that the compensation process has begun. We believe that this process is crucial for building trust, honouring our commitments, and ensuring consistency with our Constitution as we address Zimbabwe’s debt challenge.” The payments towards the compensation of investors under BIPPA protection began in the second week of January 2025. Payments are being made to the claimants’ Bank accounts of choice. Only claimants from countries with BIPPAs signed and ratified before the 2000 Land Reform Programme are eligible for compensation. 94 farms were approved for compensation. The claimants are from Denmark, Germany, the Netherlands, Switzerland and former Yugoslavia. The Harare-based ambassadors of Germany, the Netherlands and Switzerland jointly welcomed the announcement: “The framework established by the Government of Zimbabwe leading to the full compensation of affected BIPPA farmers protected by Bilateral Investment Promotion and Protection Agreements, is indeed a historic achievement. We commend the Government’s allocation of funds in the National Budget as of 2024 to make the compensation a reality. Several affected investors have received initial payouts, and an emerging sense of closure exists. It marks a significant milestone, and we consider it a very encouraging step towards a comprehensive and fair settlement for farmers and investors in Zimbabwe, be it in terms of financial compensation or land tenure. Now, it is important for the Government to keep this positive momentum.” The BIPPA farmers are being compensated for land and improvements on the farms in line with Section 295 (2) of the Constitution of Zimbabwe. The President of the African Development Bank Group and the Champion of the Zimbabwe Arrears Clearance and Debt Resolution, Dr Akinwumi Adesina said, “The compensation demonstrates the Government’s goodwill and commitment to building trust in the process and improving investor confidence in the country. The progress Zimbabwe has made, the commitment and resilience it is showing, calls for support from development partners to facilitate the country’s effort in implementing on going reforms and to provide the much-needed cushion to particularly the vulnerable members of the population.” The compensation of these investors is one of the key reforms under the Structured Dialogue Platform on the country’s Arrears Clearance and Debt Resolution Process. Zimbabwe aims to clear its arrears, resolve debt, and unlock new concessional external financing to achieve its development goals. The Government established in December 2022, a Structured Dialogue Platform (SDP) with all its creditors and development partners, to institutionalise engagement on economic and governance reforms to underpin the Arrears Clearance and Debt Resolution Process. The Resolution of BIPPA-protected farms is under the auspices of one of the three Sector Working Groups (SWG) of the country’s Structured Dialogue Platform for Arrears Clearance and Debt Resolution Process. It falls under the Land Tenure Reforms, Compensation for Former Farm Owners, and the Resolution of BIPPAs SWG. This SWG is co-chaired by the Office of the President and Cabinet, Switzerland and the United Nations Development Programme. The other two SWGs are Economic Growth and Stability Reforms, and Governance Reforms. At the last High-Level SDP Meeting held in Harare on 25 November 2024, His Excellency, Dr Emmerson Dambudzo Mnangagwa, the President of the Republic of Zimbabwe, reiterated the Government’s ownership of the Arrears Clearance and Debt Resolution Process, and his commitment to the implementation of reforms underpinning the Process, in line with the country’s National Development Strategy 1. The resolution of BIPPAs is also part of the country’s engagement and re-engagement initiatives with the international community. After disbursing the US$20 million from the 2024 National Budget for BIPPA-protected farms, the remaining US$125.9 million will be paid over four years (2025 to 2028) through annual fiscal allocations. Additionally, the Government has allocated another US$20 million in the 2025 National Budget for this purpose. Table 1: Approved BIPPA Farms for Compensation Country Number of Farms Approved for Compensation Farmers Value (US$ millions) Denmark 6 5 13.4 Germany 14 7 14.0 Netherlands 46 33 88.2 Switzerland 27 10 27.0 Former Yugoslavia 1 1 3.3 Total 94 56 145.9 Download Image (1): https://apo-opa.co/3Q9tX08 Download Image (2): https://apo-opa.co/3WR1b8k Download Image (3): https://apo-opa.co/42LnIHa Download Image (4): https://apo-opa.co/4hQ4aWH Caption for Images: Sixth High-Level Structured Dialogue Platform on Zimbabwe’s Arrears Clearance and Debt Resolution Process held in the country’s capital, Harare in November 2024 Download Video: https://apo-opa.co/3CFZ5kJ Video Caption: Zimbabwe’s Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Ncube Speaks about Compensation of Investors under Bippa-protection Download Audio: https://apo-opa.co/3Q8JY6A Download Document: https://apo-opa.co/4grXMUo Social Media: Facebook: Zim Treasury X: @ Zimtreasury The issuer is solely responsible for the content of this announcement.

The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process HARARE, ZIMBABWE – EQS Newswire – 8 February 2025 – The Government of the Republic of Zimbabwe is honouring its commitment to compensate investors protected by Bilateral Investment Protection and Promotion Agreements (BIPPAs), whose investments were affected by the Land Reform Programme in 2000. This follows the disbursement of funds from the US$20 million allocated for the compensation of BIPPA-protected farms in the 2024 National Budget. The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process. Providing an update on the payments, the Minister of Finance, Economic Development, and Investment Promotion, Honourable Professor Mthuli Ncube stated, “I am pleased to announce that the compensation process has begun. We believe that this process is crucial for building trust, honouring our commitments, and ensuring consistency with our Constitution as we address Zimbabwe’s debt challenge.” The payments towards the compensation of investors under BIPPA protection began in the second week of January 2025. Payments are being made to the claimants’ Bank accounts of choice. Only claimants from countries with BIPPAs signed and ratified before the 2000 Land Reform Programme are eligible for compensation. 94 farms were approved for compensation. The claimants are from Denmark, Germany, the Netherlands, Switzerland and former Yugoslavia. The Harare-based ambassadors of Germany, the Netherlands and Switzerland jointly welcomed the announcement: “The framework established by the Government of Zimbabwe leading to the full compensation of affected BIPPA farmers protected by Bilateral Investment Promotion and Protection Agreements, is indeed a historic achievement. We commend the Government’s allocation of funds in the National Budget as of 2024 to make the compensation a reality. Several affected investors have received initial payouts, and an emerging sense of closure exists. It marks a significant milestone, and we consider it a very encouraging step towards a comprehensive and fair settlement for farmers and investors in Zimbabwe, be it in terms of financial compensation or land tenure. Now, it is important for the Government to keep this positive momentum.” The BIPPA farmers are being compensated for land and improvements on the farms in line with Section 295 (2) of the Constitution of Zimbabwe. The President of the African Development Bank Group and the Champion of the Zimbabwe Arrears Clearance and Debt Resolution, Dr Akinwumi Adesina said, “The compensation demonstrates the Government’s goodwill and commitment to building trust in the process and improving investor confidence in the country. The progress Zimbabwe has made, the commitment and resilience it is showing, calls for support from development partners to facilitate the country’s effort in implementing on going reforms and to provide the much-needed cushion to particularly the vulnerable members of the population.” The compensation of these investors is one of the key reforms under the Structured Dialogue Platform on the country’s Arrears Clearance and Debt Resolution Process. Zimbabwe aims to clear its arrears, resolve debt, and unlock new concessional external financing to achieve its development goals. The Government established in December 2022, a Structured Dialogue Platform (SDP) with all its creditors and development partners, to institutionalise engagement on economic and governance reforms to underpin the Arrears Clearance and Debt Resolution Process. The Resolution of BIPPA-protected farms is under the auspices of one of the three Sector Working Groups (SWG) of the country’s Structured Dialogue Platform for Arrears Clearance and Debt Resolution Process. It falls under the Land Tenure Reforms, Compensation for Former Farm Owners, and the Resolution of BIPPAs SWG. This SWG is co-chaired by the Office of the President and Cabinet, Switzerland and the United Nations Development Programme. The other two SWGs are Economic Growth and Stability Reforms, and Governance Reforms. At the last High-Level SDP Meeting held in Harare on 25 November 2024, His Excellency, Dr Emmerson Dambudzo Mnangagwa, the President of the Republic of Zimbabwe, reiterated the Government’s ownership of the Arrears Clearance and Debt Resolution Process, and his commitment to the implementation of reforms underpinning the Process, in line with the country’s National Development Strategy 1. The resolution of BIPPAs is also part of the country’s engagement and re-engagement initiatives with the international community. After disbursing the US$20 million from the 2024 National Budget for BIPPA-protected farms, the remaining US$125.9 million will be paid over four years (2025 to 2028) through annual fiscal allocations. Additionally, the Government has allocated another US$20 million in the 2025 National Budget for this purpose. Table 1: Approved BIPPA Farms for Compensation Country Number of Farms Approved for Compensation Farmers Value (US$ millions) Denmark 6 5 13.4 Germany 14 7 14.0 Netherlands 46 33 88.2 Switzerland 27 10 27.0 Former Yugoslavia 1 1 3.3 Total 94 56 145.9 Download Image (1): https://apo-opa.co/3Q9tX08 Download Image (2): https://apo-opa.co/3WR1b8k Download Image (3): https://apo-opa.co/42LnIHa Download Image (4): https://apo-opa.co/4hQ4aWH Caption for Images: Sixth High-Level Structured Dialogue Platform on Zimbabwe’s Arrears Clearance and Debt Resolution Process held in the country’s capital, Harare in November 2024 Download Video: https://apo-opa.co/3CFZ5kJ Video Caption: Zimbabwe’s Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Ncube Speaks about Compensation of Investors under Bippa-protection Download Audio: https://apo-opa.co/3Q8JY6A Download Document: https://apo-opa.co/4grXMUo Social Media: Facebook: Zim Treasury X: @ Zimtreasury The issuer is solely responsible for the content of this announcement.

LONDON, UNITED KINGDOM – Newsfile Corp. – 7 February 2025 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”) is pleased to invite investors to a webinar on February 18, 2025, at 4:15 p.m. ET. The exclusive event, hosted by RedChip Companies, will feature Gorilla Technology’s Chairman and CEO, Jay Chandan, and interim-CFO, Bruce Bower. Attendees will gain valuable insights into the Company’s role as a global leader in AI-driven nternet of Things (IIOT) solutions, security convergence, and big data analytics. With a rapidly expanding global footprint, Gorilla Technology is at the forefront of smart cities and critical infrastructure transformation. The Company entered 2025 with a $93 million backlog and a $2 billion pipeline of multi-year opportunities, driving projected revenues of $90 million to $100 million for the year. Gorilla’s innovative edge AI and cybersecurity solutions are gaining traction across US, LATAM, Europe, APAC, and MENA, securing strategic projects such as AI-powered smart city initiatives and critical security deployments. Backed by record-setting financial performance, a veteran leadership team, and an expanding market presence, Gorilla Technology is well-positioned for continued revenue growth and long-term value creation. A live question and answer session will follow the presentation by Chandan and Bower. To register for the free webinar, please visit: https://redchip.zoom.us/webinar/register/WN_RCEHpBZmRbm_bAUAkaqpwg#/registration Questions can be pre-submitted to [email protected] or online during the live event. The issuer is solely responsible for the content of this announcement. About Gorilla Technology Group Inc. Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies. Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents. For more information, please visit our website: Gorilla-Technology.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about our ability to execute definitive agreements related to this smart education project, attract the attention of customers and win additional projects, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

LAGOS, NIGERIA – Media OutReach Newswire – 8 February 2025 – Tolaram, the Singapore-headquartered owners and operators of Lagos Free Zone are proud to announce that the International Finance Corporation (IFC) has committed an equity investment of up to $50 million to support the development of Lagos Free Zone. The investment, aimed at closing key infrastructure gaps to enhance Nigeria’s global competitiveness, will help accelerate the first phase development of the 860-hectare Lagos Free Zone through expanding land development, industrial facilities, and logistics infrastructure. Directly integrated with the Lekki Deep Sea Port, Lagos Free Zone is uniquely positioned to offer an efficient, unified industrial ecosystem that facilitates seamless import and export operations, positioning Nigeria as a critical player in global value chains. By addressing critical infrastructure bottlenecks and improving connectivity, this investment is expected to open new business opportunities, strengthen Nigeria’s position as a leading regional economic hub, and contribute to the long-term prosperity of the nation. “Tolaram’s businesses have a long-standing history in Nigeria and are deeply committed to unlocking the country’s economic potential. With the critical investments made in Lagos Free Zone, we are not only tackling infrastructure challenges but also creating a conducive environment for local and international businesses to thrive,” said Navin Nahata, Managing Director for Fintech and Infrastructure at Tolaram. Adesuwa Ladoja, Managing Director/CEO of Lagos Free Zone Company, added, “IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria. Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development. We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC.” Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International as well as Lekki Port – Nigeria’s deepest and most advanced port. 30,000 direct, indirect, and induced jobs are expected to be created when the Lagos Free Zone is fully occupied, delivering long-term economic benefits to Nigeria. With the Nigerian economy projected to grow by 3.7% in 2026, investments of this nature are vital to ensuring the country’s sustained growth and economic resilience. Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa, noted, “This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets. We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.” The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)- certified buildings and climate-resilient infrastructure. This investment aligns with Nigeria’s ongoing economic reforms and supports IFC’s broader strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both prioritising economic diversification, the development of competitive business clusters, and investments in climate-resilient infrastructure. Hashtag: #Tolaram #LagosFreeZone #LekkiPort #IFC The issuer is solely responsible for the content of this announcement. About Tolaram Tolaram is a family-owned business, headquartered in Singapore, focused on investing in emerging market opportunities and building brands that drive economic growth. Since its founding in 1948, Tolaram has evolved from a single retail shop into a diversified global business with interests spanning consumer goods, fintech, infrastructure, and industrial sectors in Africa, Asia, and Europe. Across Africa, Tolaram has established a significant presence through its consumer business. Through partnerships with global corporations such as Indofood, Arla Foods, Kellanova, Colgate-Palmolive, and Diageo, Tolaram manufactures and distributes a wide range of products, making it one of the continent’s largest consumer goods enterprises. Tolaram also owns and operates Nigeria’s first wholly owned private free trade zone with a deep seaport. Tolaram also owns and operates a digital bank and an insurtech business in Indonesia as well as an integrated paper mill in Estonia.

LAGOS, NIGERIA – Media OutReach Newswire – 8 February 2025 – Tolaram, the Singapore-headquartered owners and operators of Lagos Free Zone are proud to announce that the International Finance Corporation (IFC) has committed an equity investment of up to $50 million to support the development of Lagos Free Zone. The investment, aimed at closing key infrastructure gaps to enhance Nigeria’s global competitiveness, will help accelerate the first phase development of the 860-hectare Lagos Free Zone through expanding land development, industrial facilities, and logistics infrastructure. Directly integrated with the Lekki Deep Sea Port, Lagos Free Zone is uniquely positioned to offer an efficient, unified industrial ecosystem that facilitates seamless import and export operations, positioning Nigeria as a critical player in global value chains. By addressing critical infrastructure bottlenecks and improving connectivity, this investment is expected to open new business opportunities, strengthen Nigeria’s position as a leading regional economic hub, and contribute to the long-term prosperity of the nation. “Tolaram’s businesses have a long-standing history in Nigeria and are deeply committed to unlocking the country’s economic potential. With the critical investments made in Lagos Free Zone, we are not only tackling infrastructure challenges but also creating a conducive environment for local and international businesses to thrive,” said Navin Nahata, Managing Director for Fintech and Infrastructure at Tolaram. Adesuwa Ladoja, Managing Director/CEO of Lagos Free Zone Company, added, “IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria. Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development. We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC.” Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International as well as Lekki Port – Nigeria’s deepest and most advanced port. 30,000 direct, indirect, and induced jobs are expected to be created when the Lagos Free Zone is fully occupied, delivering long-term economic benefits to Nigeria. With the Nigerian economy projected to grow by 3.7% in 2026, investments of this nature are vital to ensuring the country’s sustained growth and economic resilience. Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa, noted, “This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets. We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.” The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)- certified buildings and climate-resilient infrastructure. This investment aligns with Nigeria’s ongoing economic reforms and supports IFC’s broader strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both prioritising economic diversification, the development of competitive business clusters, and investments in climate-resilient infrastructure. Hashtag: #Tolaram #LagosFreeZone #LekkiPort #IFC The issuer is solely responsible for the content of this announcement. About Tolaram Tolaram is a family-owned business, headquartered in Singapore, focused on investing in emerging market opportunities and building brands that drive economic growth. Since its founding in 1948, Tolaram has evolved from a single retail shop into a diversified global business with interests spanning consumer goods, fintech, infrastructure, and industrial sectors in Africa, Asia, and Europe. Across Africa, Tolaram has established a significant presence through its consumer business. Through partnerships with global corporations such as Indofood, Arla Foods, Kellanova, Colgate-Palmolive, and Diageo, Tolaram manufactures and distributes a wide range of products, making it one of the continent’s largest consumer goods enterprises. Tolaram also owns and operates Nigeria’s first wholly owned private free trade zone with a deep seaport. Tolaram also owns and operates a digital bank and an insurtech business in Indonesia as well as an integrated paper mill in Estonia.