To Our Dear Stakeholder

LADOL Free Zone and its Land Lease are Intact and Fully Operational.

We are pleased to inform our stakeholders and the public at large that we have received
notification to the effect that:

1. The Presidential approval issued in 2018 granting Global Resource Management
   Limited a 25 year lease covering the entire area of the Free Zone is valid and
   subsisting.
2. All stakeholders should comply with the Federal Government’s final directive,
   which is geared towards resolving the dispute, restoring investor confidence to
   the industry and bring NPA’s actions in conformity with extant laws and Federal
   Government Policy on Local Content.
3. The LADOL Free Zone is whole and intact and all Enterprises, visitors,
   stakeholders and others in the Zone should adhere to the rules and regulations of
   the Zone.

This decision shows due recognition and understanding for the spirit in which LADOL
Group’s shareholders, both private and public, have been investing in developing the
Zone out of a disused swampy area since 2004. This investment continues today, in line
with the policies of the Federal Government and in support of the economy of Nigeria.

We thank you unequivocally – our dear employees, stakeholders, and customers for your
loyalty, patience and support, and for keeping faith with us throughout this period.

LADOL remains committed to helping to make Nigeria the industrial hub for West Africa.

Our shareholders remain undeterred in their long-term commitment to making
investments that will turn the Zone into a Sustainable Industrial Special Economic Zone
which will be a blueprint for sustainable industrialisation of Africa. LADOL remains a law
abiding corporate citizen and is looking forward to continuing our strategic partnerships
with the Nigerian Content Development and Monitoring Board, the Nigerian Ports
Authority, the Nigeria Export Processing Zones Authority, all the agencies in the Zone
and our stakeholders.

LADOL wishes to express its sincere appreciation to all stakeholders for their successful
mediation. This timely intervention has saved jobs, protected huge private and public
investments and highlighted a deep commitment to the local content policy.
LADOL is open for business. Kindly contact us for all enquiries and further information.
Signed

Mr. Ladi Jadesimi
Chairman

Jun 18th, 2020