In terms of the listing requirements of the Malawi Stock Exchange Limited, a listed company is required to publish a Trading Statement as soon as there is a reasonable degree of certainty that the financial results for the period to be reported upon next will vary by at least 20% from that of the previous corresponding period.

NICO Holdings plc informed the public in its trading statement published on 29 December 2023 that its consolidated profit after tax for the year ended 31st December 2023 was expected to fall in the range of MK61 billion to MK66 billion representing an increase of between 61% and 74% on the profit after tax of MK38 billion reported in the previous corresponding period. In addition, the consolidated profit after tax attributable to owners of the parent company (NICO Holdings plc) was expected to fall in the range of MK32 billion to MK34 billion representing an increase of between 60% and 70% on the profit after tax of MK20 billion reported in the previous corresponding period.

NICO Holdings plc now advises that after further review, its consolidated profit after tax for the year ended 31st December 2023 is expected to fall in the range of MK58 billion to MK60 billion representing an increase of between 53% and 58% on the profit after tax of MK38 billion reported in the previous corresponding period. In addition, the consolidated profit after tax attributable to owners of the parent company (NICO Holdings plc) is now expected to fall in the range of MK30 billion to MK32 billion representing an increase of between 50% and 60% on the profit after tax of MK20 billion reported in the previous corresponding period.

The information on which the above trading statement is based has not been reviewed or reported on by NICO Holdings plc external auditors nor has it been reviewed by the statutory actuary.

Angela Kandani

Company Secretary

17  April 2024