Afentra (Angola) Ltd. entered into an agreement to acquire 4% working interest in Block 3/05 and 5.33% interest i Block 3/05A from INA-Industrija nafte, d.d. (ZGSE:INA) for $23 million on July 19, 2022. Block 3/05 - 4% Working Interest will be acquired for • $9 million cash up-front subject to customary completion adjustments • $10 million payment upon licence extension1 • Up to $6 million of contingent payments – Subject to a price hurdle of $65/bbl with limited to an annual cap of $2 million. Block 3/05A - 5.33%2 Working Interest will be acquired for • $3 million cash up-front, subject to customary completion adjustments • Up to $5 million of contingent payments linked to successful future developments of of existing discoveries, subject to oil price of $65/bbl. The acquisition is anticipated to be funded with new debt facilities and cash on balance sheet. The Acquisition is subject to satisfaction of Conditions Precedent customary for a transaction of this nature which mainly relate to Governmental approvals and waiver of state pre-emption rights, these are expected in Q3/Q4 2022.As on January 12, 2023 the transaction is approved by Ministry of Mineral Resources, Oil and Gas. The license extension of Block 3/05 which will trigger the incremental payment of $10 million is also expected to be granted in Q3/Q4 2022. The asset interests being acquired under the INA Transaction generated an EBITDA of $5.3 million for the year ended 31 December 2021. Peel Hunt LLP acted as financial advisor for Afentra plc. The transaction is expected to close in early 2023. The transaction is expected to close in early May 2023. Peter Krens of Tennyson Securities acted as financial advisor to Afentra plc on the transaction.

Afentra (Angola) Ltd. completed the acquisition of 4% working interest in Block 3/05 and 4% interest i Block 3/05A from INA-Industrija nafte, d.d. (ZGSE:INA) on May 10, 2023. Subject to final approval of the distribution of the China Sonangol International ('CSI') interest to the remaining joint venture partners, Afentra's working interest in Block 3/05A increases from 4% to 5.33%. On May 11, 2023, Watson Farley & Williams has advised Mauritius Commercial Bank as agent and lender on an up to $110 million reserve-based lending (“RBL”) facility and an up to $30 million working capital facility granted to Afentra (Angola) Ltd for the acquisition from INA-Industrija d.d. of 4% interests in Block 3/05 and Block 3/05A offshore Angola in the Lower Congo Basin.