Mr. Shahin Amini reports

AFRICA OIL SHARE CAPITAL AND VOTING RIGHTS UPDATE

Africa Oil Corp. has provided the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act.

As a result of the exercise of stock options under the company's stock option plan, Africa Oil now has 463,831,871 common shares issued and outstanding with voting rights as at Dec. 28, 2023.

About Africa Oil Corp.

Africa Oil is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, and an exploration/appraisal portfolio in west and south of Africa, as well as Guyana. The company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol AOI.