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Africa Oil Corp
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April 2024 Townhall Presentation
| Roger Tucker | Page 5 of 11 |
May 02, 2024
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AFRICA OIL CORP. Deliver the business in line with the new strategy Formulate new strategy, key relationships management, reorganization & key hires DEVELOPMENTS SINCE THE LEADERSHIP CHANGE Town Hall Presentation | April 2024 SLIDE 5 JAN 2024 Implemented a strategic farm down agreement for Impact’s Blocks 2912 and 2913B, offshore Namibia JUL 2023 Increased operated working interest in Orange Basin Block 3B/4B, offshore South Africa OCT 2023 New strategy approved by the Board NOV 2023 Participated in a USD 40m equity placement by Impact to fund its activities in 2023 JUL 2023 New President and CEO appointed, marking the next phase of growth and focus on shareholder value and returns JAN/FEB 2024 Started share buybacks & declared first 2024 semi- annual dividend MAR 2024 Farm down agreement for Block 3B/4B, offshore South Africa MAR 2024 Offer to Impact’s minority shareholders to purchase up to 8% additional interest in Impact New strategy approved and new ExCom in place to deliver the business plan Two strategic transactions announced, significantly de-risking AOC’s growth profile Launched new NCIB share buyback program Base dividend policy maintained