Tingo, Inc. (IWBB) Corporate Media Kit

Nigeria is central to Africa’s growth story ì Largest Economy in Africa ì Emerging middle class with higher disposable income and growing household spending ì Increasingly urbanized ì Favorable demographics 18 years Median age in Nigeria 201m Nigeria’s population Rural : urban mix expected to shift from 52:48 in 2015 to 48:52 in 2021 2.5% Annual population growth Largest economy in Africa $443 billion Nigeria’s 2020e GDP Economy contracted by 1.9% in 2020 as a result of Covid-19 restrictions. Growth forecast to be 1.5% in 2021 6x Nigeria’s middle- class growth from 2000 to 2014 Middle class households expected to grow from 4.1mn to 11.7mn by 2030 1 2 3 4 Cities with population over 1 million people 11 40 45 62 70 56 56 0 20 40 60 80 2015 2016 2017 2018 2019 Household spending grew by USD30bn from 2015 – 2020 2020 Household spending 8