Tingo, Inc.

Tingo, Inc., including its subsidiary Tingo Mobile, is an agri-fintech company offering a comprehensive platform service through the use of smart phones — ‘device as a service’ (using Global System for Mobile communication (“GSM”) technology), which seeks to create a marketplace that enables subscribers, primarily within the agricultural sector (and other sectors) to manage their commercial activities of growing and selling fresh produce to market participants domestically in Nigeria.

The Tingo ecosystem provides a ‘one stop shop’ solution that enables subscribers to manage features ranging from airtime top ups, bill payment services for utilities and other service providers, access to insurance services and micro finance to support their value chain from ‘seed to sale’. Tingo has approximately 9.3 million subscribers using its mobile phones, approximately 98% of whom also use Tingo’s Nwassa platform.

Nwassa is believed to be Africa’s leading digital agriculture ecosystem that empowers rural farmers and agri-businesses by using proprietary technology that enables users to access markets in which they operate. Using Tingo’s ecosystem, farmers can ship produce from farms throughout Nigeria, in both retail and wholesale quantities. Tingo’s system provides real-time pricing, straight from the farms, which eliminates middlemen. The customers of Tingo users pay for produce bought using available pricing on the platform.

Tingo is a leading technology and device-as-a-service platform aimed at accelerating digital commerce, targeting Africa’s Agritech and Fintech verticals in three principal ways:
o Tingo helps farmers acquire mobile phones through a three-year leasing plan, connecting them to mobile and data network through its own virtual mobile network;
o Tingo also connects farmers to markets, services and resources via Nwassa, its digital agri-fintech marketplace platform that commenced operations in 2020. Customers can also use the Nwassa platform to purchase airtime, pay for utilities, obtain mobile insurance, access loans through its brokerage service;
o Tingo is developing Tingo Pay — a B2B and B2C fintech app aimed at providing financial services to users inside and outside of the agriculture value chain services include mobile wallets, bill pay services, pier to pier lending, access in app e-commerce services, financial products including micro-insurance and pension products; and
o In H2 2022, Tingo intends to launch its SuperApp that will combine both Nwassa and TingoPay into
a single platform/app that will make interoperability easier and more cost efficient. This integrated approach will deliver strong financial inclusion and provide access to the Banking System nationally to millions of our customers.

Tingo is bundling complete digitally inclusive ecosystems that promotes financial inclusion and delivers disruptive micro-finance solutions, empowers societies, produces social upliftment in rural communities and opens domestic and international opportunities.

We believe that a truly connected world will help contribute to a better global society. Tingo’s core focus areas are financial services/fintech and agritech delivered through our mobile devices on our voice and data packages. Tingo’s goal is to provide a best-in-class customer experience, support the domestic economies of its host countries and support technological and financial inclusion to end the poverty premium.

Global Climate Change is challenging our productivity for sustainable production and Food Security. Social upliftment is a key area of global interest under the United Nations Sustainable development Goals (SDGs) and ESG impact investing. Tingo’s strategy and market execution provides an opportunity for Africa to be a core focal point to solve several key areas including Food Security. We do this through our unique Nwassa service model. We aim to deliver, in a tangible and measurable way, alignment and compliance with the key UN SDGs — Gender equality through upliftment of female entrepreneurship, financial inclusion, poverty alleviation and zero hunger.