Dear Esteemed Colleagues,

We are at the end of 2022. It has been a great and eventful year but also one in which i could
not have achieved so much without your immense support. On behalf of myself, the board
and shareholders, I want to thank you for riding with me and the objectives of our great
Organization this year, and for helping us achieve our corporate objectives and goals. I
appreciate you all for your commitment and “can do’ spirit as well as the teamwork
demonstrated during the year which remain invaluable. For these i say thank you and well

Our corporate objectives and value system which revolves around integrity and passion for
excellence have remained central in our dealings with clients and stakeholders… i see the
passion in you all and would enjoin you to sustain these in the coming year.
At the start of the year, we could not have imagined that it would go the way it has gone, but
we knew that apart from our faith in God and our confidence in our demonstrable
competence, we could also always count on you and your cooperation. This has made a
significant difference for us this year.

By the last quarter 2021, we realized that for us as a business to have a lasting presence; we
must fix our challenges from the roots and build on a solid foundation. Hence our 2022
theme ‘Getting the Fundamentals Right.’ We can proudly announce to you that we have
made giant strides and achieved remarkable achievements in line with our 2022 theme.
The year 2022 started on a slow pace especially with the uncertainty around the macro-
economic environment and the restiveness in some of the communities where our clients
operate. Indeed the business terrain has been tough in 2022-the war in Ukraine which has
impacted globally was unexpected, unanticipated and negatively disruptive. Here in Nigeria,
we have had to contend with the most unpredictable fluctuations in the nations exchange
rate, forex scarcity leading to liquidity problems , the depreciation of the Naira and rising
inflation. Insecurity and low purchasing power has been our bane too.

Some of our scorecard:

1. We filled the strategic roles of Chief Financial Officer (CFO), Corporate
Communications Manager (CCM) and Internal Auditor, Emmy in accounts to improve
in our administrative and accounting process. We have the new, value-oriented joiners
in Sel Capital too. These Strategic recruitments helped us move forward with
competence at higher levels of administration.

2. We put in place and strictly adhered to a template for proper documentation, ensured
compliance with industry rules and thus strengthened our internal control. Our audit
is ongoing.

3. We achieved increased productivity in our workflow and delivery process by ensuring
general workforce recruitment is propelled by an eye for competence and job-relevant
skills and capacity.

4. As a result of the foregoing, we recorded a burst of business relationships and handled
a significantly higher volume of trade and business transactions in 2022, compared to

5. We standardized our business operations and established an internationally compliant
quality assurance while implementing a standard operational procedure. Thus, we
became ISO certified this year.

6. We have employed automation of processes to significant advantage in our service
delivery lifecycle leading to increased productivity and reduced time wastage.

7. Our corporate brand is repositioned, more visible, and has translated into an incredible
work atmosphere within the workplace as well as in our interactions with all our

8. Our staff recorded personal and corporate victories ranging from weddings, to
promotions, to certifications and other various significant milestones.

9. We deepened social bonding and harmony among staff and built a conducive work
environment where a healthy work ethic is encouraged and mental health is not taken
for granted.

10. We put in place mechanisms to recognize excellent work and to reward such, as
further motivation to everyone to put in their best.

11. I personally continue to observe the best amongst us and whilst appreciating them
continue to push them to do more.

12. We gained more though marriages and children and even our trials brought us closer.
Let’s continue to love and pray for Afolabi.

13. We disrupted the market through TIREX PE and even through the distinct challenge of
a smear campaign orchestrated against us as a pull-down syndrome we continue to
break myths. GMD, Paul, Nonso, Emmy, Afolabi and the rest of the Tirex team…I thank
you profoundly for standing tall, loyal, and productive.

There is so much more we continue to review and do and so much more we will achieve

Myself and the board and group remain committed to your welfare and career advancement
and accordingly the board has approved a restructuring programme during the new year thatwill ensure that everyone of you is recognized and have a progressive career in Still Earth
Holdings, Sel Capital, Tirex PE and Amber Suites.

Together, we achieved so much in 2022. All of us; Board, senior management, managers,
junior staff members- as stakeholders, we did this together, and I may not always say it or
have a bad way of showing it but I see each one of you and I thank you all for your cooperation and commitment which gives fuel to our drive and made our accomplishments possible.

As we revel with gratitude for 2022, we look forward to 2023 with hope. We recognize that
we still have a lot of work to do, and as always, we cannot do it without you. You have given
us your unflinching support through the years and especially in 2022. We continue to count on you as we gear up for 2023.

Our theme for 2023 is “Breaking Barriers and Standing tall!” We have the confidence to
believe that with the gains of this year, our irrepressible team, and with the unalloyed support, loyalty and continuous trust in our vision and mission from you all, we can expand our businesshorizon and take territories. With your support, we can soar.

As we wind up activities and plan, play and work into the new year, let us all continue to refine our faith and trust in GOD and in what best practices and objectives our great institution stands for and aspires to. I enjoin you all to sharpen your minds, push yourselves to putting in more effort into the company and her goals, eschew any gossip or situation that could frustrate your focus or your capacity to key into the above themed message for the new year and just do your best. Ask where you are in doubt and never take the convenient way that leads to nowhere. Feel free to disrupt constructively and to express your feelings. We can only grow that way. Let us love each other and our work.

We will be experiencing a few changes in line with the restructuring ongoing now and you will be informed by the appropriate officers as we firm positions up. We will still see some people go and we will welcome more people in the new year.

Our CFO, Mr. Festus Izevbizua who has just joined us bearing a lot of experience and goodwill
would be engaging you all either directly or in a supervisory role to drive and continue to
implement and execute our objectives on best practices in terms of culture, policy and process build and implementation, brand positioning, business development, structure, and
profitability…(after all we are in business to make more money). Please support him. He also
has the welfare of staff in mind and one of his very noble initiatives for the year 2023 to boost
staff welfare is the unbundling of a staff housing loan scheme.

To every staff who wants to be a landlord.The GMD will continue to drive the steer on business development and profitability and i will continue to guide and authorize business steers and prospects. The GMD has been a huge part of our story and has contributed immensely to our business process with his decades of experience in the field and there will be more on him soon. He has my special and effusive thanks as do some of you who I have thanked personally.

I hear there is a party being planned…I hope to see and meet you all on the dance floor and
boogie it all out.

Here’s wishing you all a very happy festive season and May 2023 usher in the best tidings on
you all and your families. May the Almighty God prosper the work of our hands and gladden
our hearts beyond our expectations in 2023.

Sincerely, and with gratitude and love,
Your EC,

Oyindamola Lami Adeyemi.