Mr. Shahin Amini reports

AFRICA OIL SHARE CAPITAL AND VOTING RIGHTS UPDATE

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

As a result of the cancellation of shares repurchased by Africa Oil under the company's previously announced share repurchase program, Africa Oil now has 451,622,022 common shares issued and outstanding with voting rights as at April 30, 2024.

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.