Investigation by the Securities and Exchange Commission 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”) Lagos, Nigeria -July 14, 2017 – Investigation by the Securities and Exchange Commission Our attention has been drawn to a report released by Channels TV on Friday the 14th day of July, 2017 stating that Oando PLC (“the Company” or “Oando”) is “…under a comprehensive investigation by the Securities and Exchange Commission…..following petitions filed by some foreign investors in Oando Nigeria PLC, in relation (sic) shareholding structure following the 1.65 billion Dollars cash that Oando paid in June 2014 to acquire the oil production assets of Conoco-Phillips in Nigeria…”. The Company understands that the SEC is in receipt of correspondence containing (in our opinion) unsubstantiated, misleading and defamatory claims with respect to various matters that had already received board, shareholder and where required SEC approval. The Company is fully co-operating with the SEC in the discharge of its duties as the capital markets regulator by providing all appropriate clarifications and rebuttals on the matters raised in the said correspondence. Oando will be happy to provide full disclosure of the outcome as soon as the SEC review is completed. Oando's corporate communications team is always available to respond to any enquiries by members of the public and media. The Company is concerned about media houses going public with information without first obtaining a balanced view as this may in some cases lead to the publication of unconfirmed, misleading and damaging information. Oando is a public listed company quoted on both the Nigerian and Johannesburg Stock Exchanges and any damaging information in the public domain could have a material impact on the Company. We therefore demand an immediate retraction of the report and urge media houses to refrain and/or desist from further publications in future, without first verifying the accuracy of such facts from Oando. For further information, please contact: Ayotola Jagun Chief Compliance Officer & Company Secretary 2, Ajose Adeogun Street, Victoria Island, Lagos, Nigeria. Tel: +234 (1) 270400, Ext: 6159 ajagun@oandoplc.com. Nigeria 17 July 2017 Sponsor: Sasfin Capital Proprietary Limited (a division of the Sasfin Group) Date: 17/07/2017 07:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.