In compliance with the Bank of Zambia (BOZ) Currency Directive issued on 26 December 2025, which requires that all domestic transactions be settled in Zambian Kwacha (ZMW), the CEC Group has commenced full compliance with this directive. All suppliers are required to comply accordingly.

Suppliers are hereby informed that:

• All payments for goods and services provided within Zambia will be made in ZMW. This applies to all suppliers whose tax residency is in Zambia.
   

  Note: Electricity trading-related transactions are exempt.

• Where a contract or agreement is denominated in a foreign currency, settlement will be effected in the equivalent amount expressed in ZMW.
• Payments to impacted suppliers will be processed using the 09:30 hours average of the BOZ buying and selling exchange rates, as published on the Bank of Zambia website: www.boz.zm.

To avoid payment delays, all suppliers are requested to take the following actions with immediate effect:

• Update invoices to reflect settlement in ZMW.
• Submit confirmed ZMW banking details on official bank letterhead.

Your cooperation and support, as we ensure full compliance with this regulatory requirement, is greatly appreciated.

BY ORDER OF MANAGEMENT