TERMS AND CONDITIONS FOR SUBSCRIPTION VIA V APP BY VFD MICROFINANCE BANK LIMITED

These Terms and Conditions (“Terms”) govern your subscription to the Initial Public Offer of Dangote Petroleum Refinery & Petrochemicals FZE (the “Issuer”) submitted through the V App operated by VFD Microfinance Bank Limited (“the Bank”). By submitting a subscription, you confirm that you have read and accepted these Terms, the Customer Declaration and Indemnity, and the Prospectus.

1. The Offer

Dangote Petroleum Refinery & Petrochemicals FZE (“Issuer”) is offering ordinary shares at an Offer Price of ₦525 per share.

The Offer is scheduled to open on 14 September 2026 and close on 13 October 2026, subject to any extension or amendment in accordance with the applicable Offer terms and regulatory requirements.

The minimum subscription is 10 shares at ₦525 per share, totaling ₦5,250. Subsequent applications must be made in multiples of 10 shares. Full payment is required at the time of application.

2. VFD MFB’s Role

The Bank is not a stockbroker, investment adviser, issuing house or securities dealer. Its role is limited as a financial intermediary sponsored by Anchoria Securities Limited and providing the App interface, collecting your subscription instruction and debiting your account for the subscription amount.

Anchoria Securities Limited (“Anchoria”), a SEC-licensed Broker/Dealer and NGX Dealing Member, acts as [Receiving Agent / participating stockbroker] for the Offer and is solely responsible for transmitting your subscription to the Registrar and for all securities-related aspects of the transaction.

Vetiva Advisory Services Limited is the Lead Issuing House to the Offer. The Bank is not an issuing house and does not verify, endorse or warrant any information in the Prospectus.

The Bank does not determine the Offer Price, allotment or allocation, and gives no advice or recommendation on the Offer.

3. Subscription and Allotment

Submitting an application does not guarantee. Allotment is determined by the Issuer and the Issuing Houses, subject to SEC clearance, and may be scaled down.

Allotted shares will be credited to your CHN/CSCS account within the period stated in the Offer documents. Where you do not hold a valid CHN/CSCS account, your shares will be allotted against a Registrar Identification Number (RIN) and warehoused in the Registrar’s custody at the CSCS until valid CHN/CSCS details are provided.

Any unallotted subscription monies will be refunded in accordance with the Offer documents, to the account debited for the subscription.

4. Dividends and Corporate Actions

Dividends can only be paid into an account held with a CBN-licensed Deposit Money Bank registered on the e-DMMS platform.

You are responsible for mandating a valid Deposit Money Bank account for dividend receipt. The Bank accepts no liability for dividends that cannot be paid for this reason.

Post-listing holdings, corporate actions and any sale of the shares are handled through Anchoria or another stockbroker of your choice, not through the Bank.

5. Charges

No brokerage commission, CSCS, SEC or NGX charge is deducted by the Bank on primary market subscriptions. Any applicable charges are disclosed on the subscription screen before you confirm.

6. Investment Risk

Shares carry risk. The market price after listing may be above or below the Offer Price and you may lose part or all of your investment.

Dividends are at the Issuer’s discretion and are not guaranteed. Allotment, listing dates and trading commencement may be delayed.

Neither the Bank nor Anchoria guarantees any return, dividend or capital appreciation. Any retail holding incentive referred to in the Offer documents is offered by the Issuer on the conditions stated there and subject to requisite approvals; the Bank does not administer or guarantee it.

You should read the Prospectus, including the Risk Factors, before subscribing, and obtain independent advice from an SEC-licensed adviser if required.

7. Eligibility and Accuracy of Information

You must be at least 18 years of age with capacity to contract under Nigerian law, be legally permitted to invest on the NGX, and be subscribing with funds from lawful sources.

All information provided, including your name, BVN, address and CHN/CSCS details, must be accurate and current. You accept liability for any loss or failed allotment arising from incorrect details.

The Bank may decline to transmit, or may suspend, a subscription instruction where required by law or regulation, by a regulatory or judicial directive, or where there is reasonable suspicion of fraud or an AML/CFT concern. Acceptance or rejection of a subscription for allotment purposes is the decision of the Issuer, the Issuing Houses and the Registrar.

8. Authority and Data

You irrevocably authorise the Bank to debit your designated account for the subscription amount and to transmit your subscription instruction and the related data to Anchoria, the Issuing Houses, the Registrar, CSCS, NIBSS and the relevant regulators as required for the Offer.

Personal data is processed in line with the Nigeria Data Protection Act 2023 and the Bank’s Privacy Policy.

You are responsible for the security of your credentials, PIN, OTP and device. Any instruction submitted through an authenticated session is treated as authorised by you.

9. Order of Precedence

Where there is any inconsistency, the following order applies: (i) the Prospectus and Offer documents, the Customer Declaration and Indemnity and these Terms.

10. Complaints

Queries on allotment, refunds, CHN/CSCS and settlement: Anchoria Securities Limited: [email protected]

Tel: 02018890026

Queries on App access, debits and payment confirmation: VBank support, [email protected]

Tel: 02012271396

11. Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria, including the Investments and Securities Act 2025, BOFIA 2020, the SEC Consolidated Rules, the NGX Rules and applicable CBN directives.

12. Confirmation

By tapping “Subscribe”, you confirm that the Offer Price is ₦525 per share and the minimum subscription is 10 shares (₦5,250); allotment is not guaranteed; you may lose your invested capital; the Bank is not your stockbroker or adviser; and you have read or had the opportunity to read the Prospectus.

VFD Microfinance Bank Limited (VFD MFB)