Mr. Francis Letourneau reports

NURAN SIGNS A 200-SITE NAAS AGREEMENT WITH MTN BENIN, RECEIVES US $2.5M AND RESUMES NEW SITE BUILDS

Nuran Wireless Inc. has signed an agreement for up to 200 sites with MTN Benin for the deployment of rural 2G, 3G and 4G sites under the network-as-a-service (NaaS) business model in Benin, West Africa.

The five-year agreement with MTN Benin now places Nuran in eight countries throughout Sub-Saharan Africa with NaaS agreements signed. The contract includes a renewal for an additional five years at the end of the initial term. This agreement has been signed under the MTN framework agreement announced on July 21, 2022, serving as further evidence of the strong partnership between MTN and Nuran, both dedicated to empowering lives in rural communities across Africa.

The project is expected to support 2G, 3G and 4G with a variety of site categories to cover different population densities and coverage areas. Nuran expects to retain ownership of the infrastructure after completion of the contract, which increases the overall value of the agreement.

Nuran now has a total of 5,092 sites under contract with multiple mobile network operators (MNOs), now surpassing more than 50 per cent of its goal of 10,000 sites within five years of the NaaS framework being launched. This milestone not only showcases Nuran's ability to execute large-scale deployments but also underscores its commitment to bridging connectivity gaps in remote and underserved areas.

Initial drawdown of $2.5-million (U.S.) received and new site build resumption

Management is also very pleased to announce that the initial $2.5-million (U.S.) drawdown from the facility for energy inclusion (FEI) has been received. As a result of this, Nuran is resuming its rollout plan. While the majority of the amount will be dedicated to Cameroon, Nuran expects to dedicate a portion to initiate site builds in the Ivory Coast, Benin and Madagascar, as well as to deliver sites already in inventory in South Sudan.

About MTN Benin

MTN is an emerging market mobile operator at the forefront of technological and digital changes. It provides a diverse range of voice, data, digital, fintech (financial technology), wholesale and enterprise services to more than 280 million customers in 21 markets. Established in South Africa at the dawn of democracy in 1994 as a leader in transformation, it offers services to communities across Africa and the Middle East. MTN Benin is a telecommunications company that offers telecommunications products and services in Benin, Africa. The company is also the first established mobile network in the Benin region.

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.

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