Africa Energy (AEC) Corporate presentation summary

Exploration and discoveries

• Two major gas condensate discoveries, Brulpadda (2019) and Luiperd (2020), were made on Block 11B/12B offshore South Africa, with significant additional exploration upside identified in the area.

• Three remaining drill-ready prospects with AVO conformance and flat spots have been identified, de-risked by previous discoveries.

• Total field resources are estimated between 2.2 and 3.2 billion barrels of oil equivalent (Bboe).

• 3D seismic data validates large resource potential and thick reservoir development in the Paddavissie Fairway.

Asset ownership and corporate structure

• Following partner withdrawals, effective interest in Block 11B/12B is set to increase from 4.9% to a direct 75%, pending regulatory approval.

• The restructuring involves acquiring 100% of Main Street 1549, with 65% interest transferred to Main Street 1549 and 25% to Arostyle.

• Market capitalization stands at $57 million with no debt and $4.1 million in cash as of June 30, 2025.

• Major shareholders include Hosken Consolidated Investments (37%) and Impact Oil & Gas (21%).

Development plans and infrastructure

• Production Right application was submitted in September 2022, with approval expected in Q4 2026.

• Early Production System (EPS) for Luiperd is planned, leveraging existing infrastructure and pipelines to Mossel Bay.

• Final Investment Decision (FID) is anticipated after PR approval, with first production expected 36–48 months post-FID.

• Domestic gas market potential includes power plants, GTL refinery, and industrial users, with full field development expected as demand grows.