Mr. Brian Reinsborough reports

RECONAFRICA ANNOUNCES CLOSING OF $21.9 MILLION BOUGHT-DEAL PUBLIC OFFERING, INCLUDING FULL EXERCISE OF THE OVER-ALLOTMENT OPTION, TO CONDUCT HORIZONTAL SIDETRACK AND PRODUCTION TESTING PROGRAM AT THE KAVANGO WEST 1X OF THE HUTTENBERG FORMATION

Reconnaissance Energy Africa Ltd. (ReconAfrica) has completed its previously announced and upsized bought-deal public offering of 29,932,200 units of the company at a price of 73 cents per unit for aggregate gross proceeds to the company of $21,850,506, including the full exercise of the overallotment option.

The offering was led by Research Capital Corp. as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Canaccord Genuity Corp. and ATB Cormark Capital Markets.

Each unit comprises one common share of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 93 cents until Sept. 10, 2029. The warrants are expected to commence trading on the TSX Venture Exchange under the symbol RECO.WT.D in the following week, subject to final TSX-V acceptance.

The net proceeds from the offering will be used for conducting an open-hole horizontal sidetrack and production testing program, targeting the primary reservoir in the Huttenberg formation and/or the secondary reservoir in the Elandshoek formation, and for general corporate purposes and working capital.

The offering was completed by way of a prospectus supplement, to the company's short form base shelf prospectus dated April 13, 2026, with the securities regulatory authorities in each of the provinces of Canada (except Quebec). Copies of the base shelf prospectus and any supplement thereto to be filed in connection with the offering are available under the company's profile on SEDAR+.

In connection with the offering, the company paid the underwriters an aggregate cash commission of $1,282,910.76 and issued to the underwriters an aggregate of 1,757,412 broker warrants. The underwriters also received an aggregate advisory fee of $15,000 and an aggregate of 6,000 advisory warrants on the same terms as the broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at a price of 73 cents until Sept. 10, 2029.

About Reconnaissance Energy Africa Ltd.

ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold belt and Kavango Rift basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the company holds petroleum licences and access to approximately 13 million contiguous acres. The company also operates the Ngulu block in the shallow waters offshore central Gabon, covering 1,214 square kilometres (km) (equivalent to 54 Gulf of Mexico blocks), which is strategically located near producing oil fields and infrastructure. The Ngulu block includes the Loba oil field discovery and a large inventory of high-impact prospects in the presalt and postsalt plays. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.

We seek Safe Harbor.