Regulatory disclosures

• Entity: PennyTree Business Limited, incorporated in Nigeria.
• Registration: SEC/CRC/2021/0000 (to be confirmed).
• Capacity: crowdfunding intermediary operating a portal under the SEC Rules on Crowdfunding made 21 January 2021.
• PennyTree does not provide investment advice, does not recommend offers, and does not underwrite, guarantee or participate in any offer listed on the portal.

Subscription monies are paid into a segregated trust account held by an independent custodian registered with the Commission (custodian to be confirmed). PennyTree does not hold, control or commingle investor funds. Funds are released to a Fundraiser only where the offer has met its minimum threshold, there is no unresolved material adverse change, and the securities registration is confirmed.

• These investments are not offered under a prospectus and carry no prospectus-based protection.
• You have no claim against the National Investor Protection Fund.
• The segregated trust account protects your money from PennyTree's and the Fundraiser's insolvency before release. It is not deposit insurance and it does not protect you against the business failing after release.
• There is no secondary market for these instruments. You should expect to hold until the Fundraiser offers an exit.

• A Fundraiser may raise ₦50m, ₦70m or ₦100m in a twelve-month period by enterprise size.
• An offer may run for up to 60 days, extendable once by a further 30 days.
• A minimum threshold must be at least 50% of the target.
• A retail investor may invest no more than 10% of net annual income across crowdfunding investments in any twelve-month period.

PennyTree, its directors and its officers do not hold a financial interest in any Fundraiser listed on the portal, and no officer is compensated by reference to whether a particular offer succeeds. Any interest that arises will be disclosed in the relevant deal room before the offer opens.

Records are retained for at least seven years in a non-alterable format and can be produced to the Commission within five working days. PennyTree files periodic reports with the Commission and provides a copy of every offering document before an offer opens.