Arik Air Limited- Expression Of Interest To Bid For The Immediate Sale Of Two (2) Airbus A340-500 Aircraft

ARIK AIR LIMITED EXPRESSION OF INTEREST TO BID FOR THE IMMEDIATE SALE OF TWO (2) AIRBUS A340-500 AIRCRAFT

BACKGROUND Mr Kamilu A Omokide, FCA-the Receiver Manager of Arik Air Limited (the Receiver Manage) pursuant to his statutory powers hereby calls for expressions of interest to purchase either, or both of two (2) Airbus Aircraft with details described as follows:

Reg No Aircraft Type Serial Number Location CS-TFW A340-500 MSN 910 Lagos, Nigeria CS-TFX A340-500 MSN 912 France

The Aircraft were operated in Africa, the United States of America, Europe and the United Arab Emirates and are being sold ‘’AS IS” and “WHERE IS’’.

ELIGIBILITY TO PARTICIPATE To participate in the process, an interested party must meet the following criteria: i. Corporate entities or individuals who have been convicted of offences relating to forgery of documents, fraud, misappropriation, money laundering, extortion or financial offences, are excluded. ii. Individuals who are employees, relatives of an employee or a member of the Board of Arik Air Limited (Arik) before and after it went into receivership, are excluded. iii. Employees or relatives of the Receiver Manager and those of his legal advisers are excluded. iv. Corporate entities that are bankrupt, or being wound up, or dissolved, or are under compulsory administration, or under re-organisation procedure/special liquidation/arrangement with its creditors, or under suspension of business activities or under a pending application or procedure concerning such matters, or under any equivalent situation arising from a similar procedure under the laws of the country of its current residence /establishment is also excluded from submitting a bid.

2. MODE OF APPLICATION AND REQUIREMENTS Interested buyers of any of, or the two Aircraft are required to send their bids to the address below on or before Tuesday, November 2, 2021, indicating the offer price for any of the two Aircraft they are interested in. The profile of the buyer should contain the following: i. Constitutive documents (showing details of the company's directors, shareholders, and ownership structure), if corporate body. ii. Certified copies of international passports in the case of individuals. iii. Financial consideration offered for the aircraft which can either be in Naira or a foreign denominated currency iv. Proof of funds in line with the procedure for submission detailed in subsequent paragraphs (which shall be verified in line with the provisions of the Money Laundering Act) v. The contact persons, office, and contact address, including telephone numbers and e-mail addresses of interested bidders should also be provided.

3. INSPECTION OF THE AIRCRAFT Bidders are encouraged to visit the Aircraft at their present locations between the date of this publication and Friday, October 29, 2021, before submitting their Bids. Inspection visits can be scheduled on request. The cost of such due diligence shall be exclusively borne by the bidders and no sort of disassembly will be allowed in the context of such due diligence.

4. PROCEDURE FOR THE SUBMISSION OF BIDS i. All Bids must be submitted in a sealed envelope with one original and 5 copies, duly signed by the authorized representative of the applicant and delivered alongside 5% of the bid amount in Certified Bank Draft from a financial institution lawfully operating in the jurisdiction of the applicant and payable to Arik Air Limited In Receivership) or evidence of the transfer of 5% of the bid sum to a bank account to be provided for local bidders. For international bidders, they may provide a financial standby letter of credit (SBL) to be issued by a first-class international Bank for 5% of the bid sum to be released to Arik Air Limited (In Receivership) upon acceptance of the bid (wordings to be communicated on request). This is in lieu of bank draft or direct account transfer. The 5% advance bid sum shall be treated as part of total bid sum. Where a bid is accepted it will become non-refundable. ii. The bid and supporting documents are to be sent in a sealed envelope with the top left corner marked "PROPOSAL FOR THE PURCHASE OF AIRBUS AS40 AIRCRAFT" and physically submitted and dropped in a specific bid box at the following office address Arik Aviation Centre Murtala Muhammed Airport (Domestic Wing) Ikeja, Lagos. iii. The Receiver Manager considers it necessary to afford interested buyers the opportunity to comment on, or request clarifications in respect of this bid process prior to submission of their proposals. To this end, comments or clarifications may be addressed to the Receiver Manager, and forwarded to the above address or to his email address: RM.A340sales@arikair.com iv. The Receiver Manager reserves the right to, whether on his initiative or as a result of a request for clarification by an interested buyer, modify the request for proposal by issuing an addendum at any time prior to the deadline for submission of proposals which addendum shall be communicated promptly before the deadline for the submission of proposals to the interested buyers and which shall be binding on the interested buyers.

5. EVALUATION OF BIDS In evaluating the bids, the Receiver Manager will be guided by the following considerations i. As part of the evaluation process, Receiver Manager will review the bids submitted by bidders alongside supporting documents ii. The Receiver Manager may, at his absolute discretion, request for clarifications from any interested buyer on its Offer and may allow the interested buyer to submit supplementary documentation or clarify its offer within a specified duration iii. Each Aircraft will be offered to the highest bidder(s), subject to the bid being higher or equal to the reserve price iv. Compliance of the bids with money laundering laws and KYC requirements v. Readiness of a bidder to make full payment within 30 days of the receipt of notification of the success of the bid vi. The Aircraft are to be sold "as is and "where is", and no warranty or guarantee is given on the condition of the Aircraft.

6. NOTIFICATION OF RESULTS Successful bidder(s) will be informed in writing. If the need arises communication may be made to multiple bidder(s) on the basis of first to pay.7.8.

7. COMMUNICATION: All bids and applications should be clearly marked "PURCHASE OF AIRBUS A340" and addressed to The Receiver Manager Arik Air Limited Arik Aviation Centre Murtala Muhammed Airport Domestic Wing Ikeja, Lages

8. DISCLAIMER The foregoing publication is Subject to terms and conditions of sale available upon request from any interested bidder

Signed Omokide, Kamilu A, FCA Receiver Manager Arik Air Limited [In Receivership] RM.A340sales@arikair.com

Arik Air Limited- Expression Of Interest To Bid For The Immediate Sale Of Two (2) Airbus A340-500 Aircraft

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