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Mdundo.com A/S

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Mdundo is a leading music service for Africa with millions of people streaming and downloading music from our app and website every month. We aim to provide Africa’s millions of internet users with easy access to music whilst contributing structure, legality, and income to the sector.

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Decisions of Annual General Meeting in Mdundo.com A/S29.10.2024 17:15:36 CET | Mdundo.com A/S | Resolutions of annual general meeting

Company Announcement no. 15-2024 Today Tuesday 29th of October 2024, at 15:30 CET, the Company held its Annual General Meeting. The agenda was as following: Report from the board of directors on the past year Presentation of the annual report and any consolidated annual report for adoption. The board of directors recommends that the annual report for 2023/24 is adopted. Approval of the remuneration for the board of directors for the current financial year. The board of directors recommends that the proposed remuneration is approved. Decision on the allocation of profit or transfer of loss in respect of the adopted annual report. The board of directors recommends that the loss for the year is carried forward to next year. Election of board members. According to clause 11.1 of the articles of association, board members are elected by the general meeting for a period of one (1) year at a time and re-elections may occur. At the ordinary general meeting in 2024, Jesper Vesten Drescher (Chai

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Mdundo.com Quarterly Report: Continued user growth and commitment to a unique local music experience10.10.2024 11:08:53 CEST | Mdundo.com A/S | Interim information

Mdundo.com, one of Africa’s leading music services, continues to demonstrate its growth and commitment to providing a locally relevant music experience. In Q1 2024/25, the platform reached 37.8 million monthly active users. The company's strategic partnerships with major telecommunication firms, as well as its focus on regional languages, have been key focus areas within the quarter.

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Mdundo.com A/S: Notice of extraordinary general meeting. EY recommended as new auditor3.9.2024 17:54:54 CEST | Mdundo.com A/S | Company Announcement

As explained in Company Announcement Number 08-2024 Grant Thornton has informed the Company that they have to resign as auditor of the Company, due to a newly identified compromise of Grant Thornton’s independence. After a quick request for proposal process, the board of directors recommends election of EY Godkendt Revisionspartnerselskab as Mdundo.com A/S’ new auditor.

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Grant Thornton to resign as auditor due to compromise of independence29.8.2024 09:13:54 CEST | Mdundo.com A/S | Company Announcement

Company Announcement Number 08-2024 On 26th of October 2023 the general meeting elected Grant Thornton, Statsautoriseret Revisionspartnerselskab as auditors. Due to a newly identified compromise of Grant Thornton’s independence, Grant Thornton has informed the Company that they have to resign as auditors of Mdundo.com A/S. A extraordinary general meeting shall be convened by the board of directors as soon as proposals from alternative auditors have been assessed.

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Mdundo.com: Financial guidance and strategy update for FY 2024/25, expecting 40 million MAUs and an improvement of DKK 1 - 3 million in EBITDA13.6.2024 19:41:15 CEST | Mdundo.com A/S | Company Announcement

Mdundo.com, a leading African music platform, announces the guidance for the fiscal year 2024/25 covering the period from July 2024 to June 2025. The company expects to improve EBITDA significantly from expected minus DKK 6 - 7 million in 2023/24 to minus DKK 4 - 5 million moving towards EBITDA positive. Mdundo is expecting to limit the focus on customer acquisition while focusing on improving the unit economics, as a result hereof, the company is replacing the long term goal of 50 million monthly active users by 2025 to 40 million monthly active users by June 2025. The company still has a goal of positive EBITDA by the end of calendar year 2025.

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Mdundo.com quarterly statement: Reaches 34.5 million monthly users, on track for year on year EBITDA improvement16.4.2024 15:53:24 CEST | Mdundo.com A/S | Interim information

Company Announcement Number 06-2024 Highlights: User Growth Trajectory: Mdundo.com maintains its upward trajectory, reaching 34.5 million monthly active users in March 2024, marking a 41% increase from the previous year. The company anticipates further growth, projecting an increase to 35 million monthly active users by June 2024 and aiming for 50 million by 2025. Revenue Outlook: Targeting revenue of DKK 12-14 million for the financial year ending June 2024. EBITDA Improvement: The company expects a year on year improvement and with an expected minus DKK 6 to 7 million, Mdundo.com is demonstrating progress towards its strategic goal of being EBITDA positive. Regional Focus and Stakeholder Engagements: Mdundo.com expanded its market presence with targeted campaigns, engaging audiences in regions such as northern Nigeria and Kenya's Kalenjin tribe. Furthermore, the company hosted successful stakeholder events, such as the "Mdundo Mixers" in Uganda and Ghana, driving insights, conversati

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Mdundo.com is adjusting guidance for the current financial year, expecting improved EBITDA and lower revenue as a result of currency fluctuations.26.3.2024 13:51:37 CET | Mdundo.com A/S | Company Announcement

The company, a leading music service in Africa, is adjusting EBITDA expectations from minus DKK 6.5 - 7.5 million to between minus DKK 6.0 - 7.0 million as well as adjusting the revenue expectations from DKK 14-17 million to DKK 12-14 million for the financial year ending June 2024. The adjustment is a result of a significant depreciation of the Nigerian naira by 38% against DKK in the period 31st January to 24th March. Since the beginning of the financial year the naira has declined by 53% against DKK.

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Mdundo.com A/S: Issuing of warrants to employees29.2.2024 14:07:06 CET | Mdundo.com A/S | Company Announcement

Company Announcement Number 04-2024 The Board of Directors of Mdundo.com A/S‘ (the “Company”) has decided to exercise part of its authoritization to issue and grant warrants, and has thus issued a total of 105,000 warrants to key employees of the Company and the Company‘s subsidiary (the “Employees”). Each warrant can be exercised to subsribe for one share of nominally DKK 0.10 in the Company. The Board of Directors is authoritized to issue a total of 1,019,666 warrants. By the decision of issuing 105,000 warrants the Board of Directors has issued a total of 995,000 warrants each entitle the holder to subscribe for one share of nominally DKK 0.10. The purpose of the issuing of warrants is to retain and motivate key employees of the Company, to honor already performed tasks and work as well as to provide incentive for them to make a special effort for the value creation of the Company. Each warrant gives the right to subscribe for one newly issued share in the Company of nominally DKK 0

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Mdundo.com A/S reaches new milestone of 30.8 million monthly active users in December 2023 and limits cash-burn to DKK 2.1 million in 1H 2023/247.2.2024 20:20:14 CET | Mdundo.com A/S | Interim information

The company is presenting a solid half-year report with steep growth in monthly active users reaching 30.8 million. The company had a slight overall decline in revenue however with a steep growth in subscriber revenue of 48% and an improved EBITDA of 21% compared to the same period last year.

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Mdundo.com: Nedjusterer guidance for omsætningen i 2023/24 og forventer nu en vækst på 11-35% fra sidste regnskabsår, ned fra en tidligere forventet vækst på 35-67%. EBITDA og bruger-guidance fastholdes7.12.2023 12:01:39 CET | Mdundo.com A/S | Selskabsmeddelelse

Den afrikanske musiktjeneste, Mdundo.com, har nedjusteret forventningerne til omsætningen for regnskabsåret 23/24 fra tidligere meddelt DKK 17 - 21 mio. kr. til DKK 14 - 17 mio. kr. Den nye forventning repræsenterer en vækst på 11-35 % i forhold til det seneste regnskabsår. EBITDA-forventningerne er uændrede, og selskabet lægger vægt på en fortsat stærk vækst fra betalende abonnenter.

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Mdundo.com 1st Quarter Report 2023-24: Hitting 29.2 million monthly active users in September 202312.10.2023 09:19:22 CEST | Mdundo.com A/S | Interim information

Company announcement no. 6-2023 HIGHLIGHTS Contentious strong user growth: Mdundo.com reaches 29.2 million monthly active users in September 2023, up from 21.5 million in September 2022 representing a 36% growth. Strategic Partnerships with Aleph Group: Mdundo.com has appointed Aleph Group as the reseller of audio ads in key African territories, Aleph is a reseller of X, Meta, Snapchat, Tiktok, Spotify and Google advertising in Africa. Contentious growth of talk-audio and podcast content: The service is experiencing a further growth of podcast and talk-audio content. In September 2023, 4% of all downloads were from this category, up from 2% in March 2023. This is in alignment with the vision of providing Africa with easy and legal access to online entertainment, and not only music. The most popular categories include music reviews, football highlights and educational content. OUTLOOK - Strategic Goals: Mdundo.com A/S aims to reach 50m monthly active users as well as EBITDA positive by

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Mdundo is a leading music service for Africa with millions of people streaming and downloading music from our app and website every month. We aim to provide Africa’s millions of internet users with easy access to music whilst contributing structure, legality, and income to the sector.

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