WEMABANK — WEMA BANK Disclosures

* Shareholders approved a dividend payment of N1.25 per share for the 2025 financial year, payable to members on the register as of April 29, 2026. * The Bank received authorization to proceed with the acquisition of a licensed commercial bank or pursue other business combinations to support growth objectives. * Members ratified the appointment of Engr. Wilson Agu, re-elected three existing directors, and elected a new Statutory Audit Committee comprising three shareholder representatives and two board representatives. * Directors' annual fees for the 2025 financial year were approved at N144,500,000.00.

* Wema Bank has publicly rejected allegations regarding its acquisition of Banana Island properties, asserting that the properties were lawfully acquired as part of recovery efforts for an outstanding debt owed by the defunct Gulf Bank. * The bank contends that the Nigeria Deposit Insurance Corporation (NDIC) is precluded from contesting these actions because the NDIC previously admitted to Gulf Bank's indebtedness, acknowledged the property relinquishments, and participated in settling the final financial shortfall. * While the NDIC has initiated legal proceedings against Wema Bank concerning these legacy transactions, Wema Bank states it will defend its position in court and refrain from further public comment on the active litigation.