Phase3 Telecom will continue to remain steadfast in its commitment to ethical governance, sustainability, and regulatory compliance, especially in an era where corporate responsibility is increasingly under the microscope. The board of directors and every member of the Phase 3 team, recognize that trust is the foundation of every enduring institution, and will continue to uphold the highest standards in corporate accountability and operational integrity.

A Governance-First Approach to Growth
From its inception, Phase 3 Telecom has been a pioneering force in digital infrastructure, empowering businesses and communities with cutting-edge connectivity solutions. However, our mission transcends technology. It is anchored in the principles of transparency, compliance, and stakeholder engagement.

As we close the first quarter of 2025, our focus has been on reinforcing our internal governance structures. Our Governance Committee with oversight on Governance, Ethics, System integrity and Compliance has spearheaded initiatives to strengthen our internal governance processes and methodologies, financial reporting, audit frameworks, and regulatory alignment at all nodes of statutory interface. Also, we have not only engaged independent auditors for enhanced oversight but have also expanded our internal compliance team to ensure proactive alignment with all statutory obligations.

Regulatory and Compliance Commitments: A Broader Scope
Phase 3 Telecom operates in a highly regulated sector where compliance is a key determinant of long-term sustainability. Our unwavering commitment to regulatory excellence beyond operating levies, permits and tax-compliant requirements also extends to:
Data Protection and Cybersecurity Compliance: As a critical player in the digital infrastructure space, we adhere to the highest data protection and cybersecurity standards. In Q1 2025, we enhanced our cybersecurity policies and reinforced data privacy protocols in full alignment with the Nigeria Data Protection Regulation (NDPR) and global best practices.

Environmental and Infrastructure Compliance: Our commitment to sustainable infrastructure development has seen us continuously improve adherence to environmental impact assessments and infrastructure deployment standards. We continue to collaborate with regulatory bodies to ensure responsible network expansion that aligns with national and global environmental benchmarks as structured and functional to our operating clime.

Sustainability and Tax Compliance: A Core Imperative
A sustainable business thrives within a well-structured economic system, and Phase 3 Telecom fully supports ongoing tax reforms in Nigeria. These reforms are designed to enhance efficiency, promote equity, and foster economic resilience. As a responsible corporate citizen, Phase 3 Telecom remains committed to meeting all tax obligations, ensuring that we contribute our fair share to national development.
The evolving tax landscape has necessitated the recalibration of our compliance mechanisms. In Q1 2025, we have undertaken a comprehensive internal audit of all tax processes, optimized our reporting systems, and engaged with relevant regulatory bodies to align our frameworks with emerging compliance expectations. We continue to engage in constructive dialogue with tax authorities and are fully aligned with the Federal Capital Territory Internal Revenue Service (FCT-IRS) in its drive for enhanced fiscal responsibility.

Q2 2025 and Beyond: Strengthening Our Commitments
As we move into the second quarter of 2025, our priorities remain clear:
Enhanced Regulatory Engagement: We will intensify collaboration with tax authorities, data protection regulators, and environmental agencies to ensure seamless compliance and foster industry-wide bestpractices.
Operational Transparency: Our board will continue to refine governance mechanisms that ensure full accountability in financial disclosures and infrastructure deployment.
Sustainability-Driven Initiatives: Beyond compliance, we are reinforcing our Environmental, Social, and Governance (ESG) framework, embedding sustainability into our long-term strategy.
At Phase3 Telecom, compliance is not just a statutory requirement, it is a cornerstone of our corporate philosophy. We remain committed to ethical leadership, operational excellence, and sustainable growth, ensuring that our business continues to create value for all stakeholders while upholding the highest standards of integrity.

Board of Directors
Phase 3 Telecom