AFRICA OIL ANNOUNCES SHARE CAPITAL

Vancouver, BC, April 30, 2025 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) reports the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act.

As a result of the issuance of 762,907 common shares due to a residual settlement of performance share units, triggered by the completion of the amalgamation to consolidate all of the Prime Oil & Gas Coöperatief U.A shareholding in Africa Oil, the Company has 675,436,334 common shares issued and outstanding with voting rights as at April 30, 2025.

Additional Information

This information is information that Africa Oil is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 5:00 p.m. EDT on April 30, 2025.

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