SINGAPORE / NAGOYA, JAPAN  - 23 October 2025 - Tolaram Pte. Ltd. ("Tolaram") today announced the signing of a Memorandum of Understanding (MoU) with Toyota Tsusho Corporation ("Toyota Tsusho") to explore a strategic partnership focused on Africa's consumer and infrastructure sectors.

Tolaram, with nearly five decades of presence in Africa, has significant investments in the manufacture and distribution of consumer goods as well as large-scale infrastructure projects such as Lekki Port and the Lagos Free Zone in Nigeria.

Toyota Tsusho, which operates in 54 African countries under its guiding philosophy "WITH AFRICA FOR AFRICA", brings deep expertise in mobility, healthcare, consumer products, and infrastructure development.

The MoU provides a framework for discussions around potential collaboration in areas such as consumer products, infrastructure development, and joint business opportunities, including creating a platform that functions as a gateway for global companies wishing to enter Africa. Together, both companies aim to leverage their complementary strengths to contribute to Africa's sustainable economic growth and address key social challenges through long-term, responsible business development.

About Tolaram

Tolaram is a family-owned, professionally managed business headquartered in Singapore, investing in emerging markets to build brands that drive growth.

Established in 1948, Tolaram has evolved from a single retail shop into a diversified global enterprise spanning consumer goods, fintech, infrastructure, and industrial sectors across Africa, Asia, and Europe.

Across Africa and the Middle East, Tolaram is among the largest consumer goods companies, producing and distributing food, beverage, personal and home care products with partners including Indofood, Arla, Kellanova, Colgate-Palmolive and Diageo. In Nigeria, Tolaram developed and operates Lagos Free Zone with an integrated deep seaport, Lekki Port.

About Toyota Tsusho

Toyota Tsusho Group is committed to the mission: "Passing on a better Earth to the children of the future". Operating in over 130 countries, the Group contributes to building a prosperous and sustainable society through diverse business activities.

In Africa, under the vision "WITH AFRICA FOR AFRICA", the Group is actively engaged in four business sectors: Mobility, Green Infra, Healthcare, and Consumer. With approximately 23,000 employees across all 54 African nations, the Group has contributed to local economic development for more than 170 years. Its commitment goes beyond solving social issues - Toyota Tsusho Group aims to create long-term value and envisions a sustainable future "for the future children of Africa".

Photos: Left - Toshimitsu IMAI, President & CEO, Toyota Tsusho Corporation

Right - Haresh ASWANI, Chief Executive, Tolaram

The issuer is solely responsible for the content of this announcement.