Investor Presentaiton

Asset Overview Slide 7 South Atlantic Ocean ANGOLA AFRICA ENERGY PEL 37 Walvis Bay • Windhoek Gaborone NAMIBIA BOTSWANA Luderitz AFRICA ENERGY BLOCK 2B SOUTH AFRICA Bloemfontein LESOTHO • Block 11B/12B 4.9% effective interest increasing to 10% (1) • Operated by TotalEnergies • Brulpadda and Luiperd discoveries in 2019-2020 AE AFRICA ENERGY . ● • • • • • Development studies and gas commercialization Production Right application expected by September 2022 Block 2B 27.5% participating interest with carried well Operated by Eco Atlantic Oil & Gas (2) Proven oil basin with existing discovery from 1988 Rig contracted to spud Gazania-1 well by October 2022 PEL 37 14.6% effective interest (3) Cormorant-1 proved important play elements in 2018 Nearby activity planned in 2022-2023 Exploration License extension underway The Company has an option to acquire the direct 10% interest in Block 11B/12B by issuing 64.5 million shares to Arostyle. (1) (2) Subject to completion of the acquisition of Azinam Limited. (3) Tullow Oil has elected to withdraw from PEL 37. The Company is awaiting formal approval of the license extension, which will result in an increase in its effective interest. . Port Elizabeth Cape Town Mossel Bay AFRICA ENERGY BLOCK 11B/12B Africa Energy | March 2022

View entire presentation