Mr. Shahin Amini reports

AFRICA OIL ANNUAL GENERAL MEETING TO BE HELD ON MAY 23, 2024

Africa Oil Corp.'s annual general meeting of shareholders will be held on Thursday, May 23, 2024, at 9 a.m. Pacific Time at Bennett Jones LLP Fraser Boardroom, Park Place, 666 Burrard St., suite 2500, Vancouver, B.C., V6C 2X8.

The purpose of the meeting is as follows:

1. To receive the consolidated audited financial statements and accompanying management's discussion and analysis of the company for the year ended Dec. 31, 2023, together with the report of the auditor;
2. To appoint PricewaterhouseCoopers LLP as auditor of the company to hold office until the next annual general meeting, at a remuneration to be fixed by the directors of the company;
3. To consider and, if deemed advisable, to approve an advisory resolution to accept the company's approach to executive compensation;
4. To elect directors to hold office for the ensuing year.

The record date for the annual general meeting of shareholders was April 15, 2024. The notice of meeting, management information circular and related meeting materials are now available under the company's profile on SEDAR+ and on the company's website.

How to vote if your securities trade on the Nasdaq Stockholm Exchange

The information set forth in this section is of significance to shareholders who hold their securities through Euroclear Sweden AB, which securities trade on Nasdaq Stockholm. Shareholders who hold Euroclear-registered securities are not registered holders of voting securities for the purposes of voting at the meeting. Instead, Euroclear-registered securities are registered under CDS & Co., the registration name of the Canadian Depositary for Securities. Holders of Euroclear-registered securities will receive a VIF by mail directly from Computershare Sweden. The VIF cannot be used to vote securities directly at the meeting. Instead, the VIF must be completed and returned to Computershare Sweden, strictly in accordance with the instructions and deadlines that will be described in the instructions provided with the VIF.

About Africa Oil Corp.

Africa Oil is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery, offshore Namibia, 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.