Mr. Francis Letourneau reports

NURAN RECEIVES US$ 1M FROM FEI, A CYGNUM CAPITAL'S FUND

Nuran Wireless Inc. has received approval for the third drawdown of $1-million (U.S.) from the Facility for Energy Inclusion (FEI), a fund managed by Cygnum Capital.

This follows the first drawdown of $2.5-million (U.S.) received on July 16, 2024, and the second drawdown of $1.05-million (U.S.) received on Feb. 28, 2025, under the $5-million (U.S.) loan facility agreement initially announced on April 26, 2024. The third drawdown was made possible following the recent amendment signed with Orange for Nuran's operations in the Democratic Republic of the Congo (DRC) and approval of the award of its infrastructure licence. The remaining $450,000 (U.S.) will be disbursed upon the delivery of an additional 50 sites.

Funds from this drawdown will mainly be used for expanding mobile sites in Africa and restarting Nuran's operations in the DRC, supporting its NaaS model and financial growth. The financing will cover operational and construction costs for rural infrastructure, helping Nuran advance toward its 2025 goal of activating sites across sub-Saharan Africa and connecting thousands in remote areas.

About Cygnum Capital Group

Cygnum Capital Group is an investment bank and asset manager, operating across frontier and emerging markets. Cygnum Capital Asset Management manages six pioneering funds: five debt funds including: (i) the African Local Currency Bond Fund (ALCBF), a groundbreaking investment vehicle established to support local currency capital markets, (ii) Off-Grid Energy Access Fund (OGEF) which supports companies in off-grid energy such as SHS and small- medium mini-grids, (iii) FEI which support companies that provide a range of renewable energy solutions such as medium-large mini-grids, C&I and IPP with a maximum capacity of 25 megawatts (MW), (iv) AfricaGoGreen Fund (AGG) which supports companies combating climate change by reducing the use of fossil fuels through new technologies and that increase energy efficiency and promote economic development in high-impact target sectors, (v) Africa Agriculture Trade Investment Fund (AATIF), which is dedicated to uplift Africa's agricultural potential through improving food security and providing additional employment and income to farmers, entrepreneurs and labourers by investing in efficient local value chains; and a VC private equity fund and (vi) E3 Low Carbon Economy Fund for Africa (E3 LCEF) which invests in climate-smart services, digital connectivity and applications, low-carbon productivity enablers. Cygnum Capital Asset Management has over $1.1-billion (U.S.) in assets under management with investments in 37 African countries.

About Nuran Wireless Inc.

Nuran Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G and 4G technologies, Nuran Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably.

We seek Safe Harbor.