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Investor Presentaiton

KEY TAKEAWAYS 1 2 Sub-optimal growth due to bottlenecks, low labour productivity & underutilization of capital stock Spiraling inflation - currently at a 17-year high of 22.22% • Defying the CBN's policy response (monetary policy tightening) • Ways and means provision now 15% of preceding year's actual revenue, up from 5% 3 Monetary policy transmission mechanism is weak • 364-day t/bill rate down to 7.99%p.a. - widening the negative real rate of return to -14.23% Sensitivity: MTN Internal 6

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