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Africa Oil Corp
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April 2024 Townhall Presentation
| Roger Tucker | Page 18 of 11 |
May 02, 2024
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AFRICA OIL CORP. AOC’S STANDBY CREDIT FACILITY PROVIDES CRITICAL LIQUIDITY HEADROOM Town Hall Presentation | April 2024 AFRICA OIL CORP. SLIDE 18 • Debt-free with access to an unused USD 175m standby corporate facility • Commitment fees of 40% of the margin rate payable on the undrawn portion ? Interest rates at 1M SOFR + 7.0% to SOFR + 7.5% ? Maturity of October 20, 2025 • Provides critical liquidity headroom at a reasonable cost • Banks providing this facility are also lenders to Prime’s RBL facility and are expected to continue providing support • Maintain key banking relationships in an increasingly challenging market as banks shrink their oil and gas lending AOC’s Successful Track-Record of Debt Financing Jan’20 - USD 250m Loan to Acquire 50% Interest in Prime May’21 - USD 150m Refinancing of the Acquisition Loan