Tingo Group issues response to statement by Hindenburg Research

Tingo Group issued a response to a statement made by short seller Hindenburg Research on September 5. The Company noted that Hindenburg has once again attempted to repeat its previous allegations despite the completion of a detailed investigation into the short-seller report of June 6 which disproved all such allegations. Stockholders are reminded of Hindenburg’s disclaimers in its short seller report and subsequent statements. Having concluded the investigation into the allegations made by Hindenburg against the Company and its businesses, which was deemed to be the highest priority, the Company and its outside counsel will now proceed to investigate Hindenburg’s allegations against the founder of Tingo Mobile and Tingo Foods, Dozy Mmobuosi.