Agm resolutions

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P. O. Box 70986, Victoria Island, Lagos.

Tel: 09054744444, MUTUAL CARE: 09054644444

E-mail: info@mutuang.com Website: https://www.mutualng.com

At the 28th and 29th Annual General Meeting of Mutual Benefits Assurance Plc, held virtually on Thursday, August 7, 2025, the following resolutions were proposed and duly passed:

1. The Audited Financial Statements for the years ended December 31, 2023 and December 31, 2024, together with the Reports of the Directors, Auditors, and the Statutory Audit Committee thereon, were presented and duly received by the shareholders.

2. A dividend of N401,232,447.94, representing 2 Kobo per ordinary share of 50 Kobo each, was declared and approved for payment to shareholders whose names appeared in the Company's Register of Members as at the close of business on July 24, 2025.

3. The appointments of Alhaji Lamis Sheu Dikko and Mrs. Asia El-Rufai

   as Directors of the Company were approved.

4. The retirement and re-election of Dr. Akin Ogunbiyi and Mr. Adesoye Olatunji as Directors of the Company were approved.

5. The Board of Directors was authorised to fix the remuneration of the Auditors for the financial year ending December 31, 2025.

6. The disclosure of the remuneration of Managers in the Annual Report was noted by the shareholders.

7. The following individuals were elected as members of the Statutory Audit Committee:

   • Mr. Osato Aideyan
   • Mr. Olabisi Fayombo
   • Dr. Anthony Omojola

     2015 Overall Highest Award (The PEARL of the Capital Market)

     (Courtesy: PEARLAwards Nigeria)

     Africa's Most Innovative Insurance Company Award, 2015

     (Courtesy: African Reinsurance Corporation)

     Chairman: Dr. Akin A.Ogunbiyi

     Non-Executive Directors: Dr. Eze Ebube (American), Adesoye Olatunji, Kadaria Ahmed, Boye Oyewumi, Abidemi Sonoiki, Alh Lateef Bakare, Mrs Wunmi Eniola-Jegede Managing Director/CEO: Femi Asenuga, Executive Directors: Biyi Ashiru-Mobolaj, Joseph Oladokun

     AUTHORISED AND REGULATED BY NATIONAL INSURANCE COMMISSION. RIC-027(G)

     
     
     
     
     
     

     The following directors were nominated to represent the Board on the

     Statutory Audit Committee:
     • Mr. Adesoye Olatunji
     • Mrs. Asia El-Rufai

8. The remuneration of the Non-Executive Directors was approved at

₦41,000,000 (Forty-One Million Naira only) for the financial year ending December 31, 2025.

Thank you

Mutual Benefits Assurance Plc has a dedicated investors' portal on its corporate website, which can be accessed via this link https://www.mutualng.com/plc/about-investor. The Company's Investors' Relations officer can be reached through electronic mail at investor.relations@mutualng.com or by telephone on +2349054644444 for any investment-related inquiry.

2015 Overall Highest Award(The PEARLof the Capital Market)

(Courtesy: PEARL Awards Nigeria)

Africa's Most Innovative Insurance Company Award, 2015

AUTHORISED AND REGULATED BY NATIONAL I INSURANCE COMMISSION. RIC-027(G)