<div id="readability-page-1"><div>RNS Number : 0757Y Afentra PLC 04 September 2025 4 September 2025AFENTRA PLCBlock 3/24Afentra signs Heads of Terms for first operated license offshore AngolaAfentra plc ('Afentra' or the 'Company') (AIM: AET), the upstream oil and gas company focused on acquiring production and development assets in Africa, announces that it has signed Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG) for the Risk Service Contract (RSC) for offshore Block 3/24, located adjacent to its existing Block 3/05 &amp; 5A interests in Angola. The formal award of the license is expected in the coming months following the completion of the Government approval process.Key HighlightsMaterial acreage expansion: Afentra's gross offshore acreage position increases from 265km2 to 810 km2Established discoveries: Block 3/24 contains five oil and gas discoveries all located in shallow waterInfrastructure-led development: Proximity to Block 3/05 offers short-cycle, low-cost development potentialExploration potential: several exploration prospects identified within the acreage on existing 3D seismicFirst offshore operatorship: Block 3/24 provides Afentra's first offshore operatorshipContract Terms and Joint Venture StructureHeads of Terms for the Block 3/24 RSC have been signed with ANPG and set out the following key terms:- Initial five-year period to review the development potential for existing discoveries and exploration prospectivity.- 25-year production period that would subsequently be awarded when a discovery is developed.- Afentra to be Operator with a 40% interest in the block, alongside Maurel &amp; Prom Angola S.A.S. (40%) and Sonangol E&amp;P (20%).About Block 3/24Block 3/24 covers 545 km2 and is adjacent to Afentra's existing producing oil fields and undeveloped discoveries in Blocks 3/05 and 3/05A. The block adds a further five discoveries - Palanca North East, Quissama, Goulongo, Cefo and Kuma - all located in the same Pinda reservoir as the existing oil fields in Block 3/05 and 3/05A. In addition, the block contains the previously developed Canuku field cluster, which has produced up to 12,000 bopd. The block is estimated to include over 130 mmbbls of STOIIP and 400 bcf GIIP of already discovered resourceThese discoveries and previous development assets offer a significant opportunity to apply modern technology to deliver short-cycle, low-cost developments tied back to the existing infrastructure in Block 3/05. A number of exploration prospects have also been identified based on existing 3D seismic date.Key Discoveries- Palanca North East discovered in 1988, tested at 6,000 bopd (38 API).- Goulongo discovered in 1988, tested at a constrained rate of 2,400 bopd (23 API).- Quissama discovered in 1987, appraised in 1992 and tested at a constrained rate of ~3,000 bopd (36 API).- Kuma discovered in 1988, tested at 1,800 bopd (32 API).- Cefo discovered in 1988, tested at 1,150 bcpd and 32 mmcfd (48 API condensate with high H₂S content)- Canuku field cluster developed by Sonangol (2001-2008); produced up to 12,000 bopd (31 API)CEO Paul McDade commented:&#34;We are pleased to announce this Heads of Terms and excited to progress towards Operatorship of Block 3/24, which represents the next step in our strategy to build a material production business in Angola. We look forward to reviewing the most efficient development options for the numerous discoveries, utilising the extensive Block 3/05 infrastructure. This will provide upside potential to enhance the overall redevelopment plan for the Block 3/05 area where we expect to significantly increase production and reserves, delivering long-term value and cashflows. Furthermore, we see potential for future infrastructure led exploration given the prospectivity of the area.We appreciate the trust invested in Afentra by the ANPG and our joint venture partners and we look forward to building on the successful collaborative working relationship with Block 3/05 Operator Sonangol to ensure we deliver the full potential of this multi-billion barrel area.&#34;Supporting PresentationA short presentation summarising the strategic context and technical opportunity associated with Block 3/24 is available on the Company's website: https://wp-afentra-2025.s3.eu-west-2.amazonaws.com/media/2025/09/Block-324-final.pdfFor further information contact:Afentra plc +44 (0) 20 7405 4133Paul McDade, CEOAnastasia Deulina, CFOChristine Wootliff, Investor RelationsBurson Buchanan (Financial PR) +44 (0) 20 7466 5000Ben RomneyBarry ArcherGeorge PopeStifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) +44 (0) 20 7710 7600Callum StewartSimon MensleyAshton ClanfieldTennyson Securities (Joint Broker) +44 (0) 20 7186 9033Peter KrensAbout AfentraAfentra plc (AIM: AET) is an upstream oil and gas company focused on opportunities in Africa. The Company's purpose is to support a responsible energy transition in Africa by establishing itself as a credible partner for divesting IOCs and Host Governments. Offshore Angola, Afentra has a 30% non-operated interest in the producing Block 3/05 and a 21.33% non-operated interest in the adjacent development Block 3/05A in the Lower Congo Basin and a 40% non-operating interest in the exploration Block 23 in the Kwanza basin. Onshore Angola, Afentra has a 45% non-operated interest in the prospective Blocks KON15 &amp; KON19 located in the western part of the onshore Kwanza basin. Afentra also has a 34% carried interest in the Odewayne Block onshore southwestern Somaliland.Inside InformationThis announcement contains inside information for the purposes of article 7 of Regulation 2014/596/EU (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) and as subsequently amended by the Financial Services Act 2021 ('UK MAR'). Upon publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain. For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of Afentra is Paul McDade, Chief Executive Officer.Glossary<div><table><tbody><tr><td>bcpd</td><td>barrels of condensate per day</td></tr><tr><td>bopd</td><td>barrels of oil per day</td></tr><tr><td>GIIP</td><td>gas initially in place</td></tr><tr><td>mmbbls</td><td>million barrels of oil</td></tr><tr><td>mmboe</td><td>million barrels of oil equivalent</td></tr><tr><td>mmcfd</td><td>million cubic feet per day</td></tr><tr><td>STOIIP</td><td>stock tank oil initially in place</td></tr></tbody></table></div>StandardEstimates of reserves and resources have been prepared in accordance with the June 2018 Petroleum Resources Management System (&#34;PRMS&#34;) as the standard for classification and reporting.Technical InformationThe technical information contained in this announcement has been reviewed and approved by Robin Rindfuss, Head of Sub-Surface at Afentra plc. Robin Rindfuss has over 30 years of experience in oil and gas exploration, production and development. He is a member of the Society of Petroleum Engineers (SPE) and holds a Bachelor of Science (BSc) and a Bachelor of Science Honours (BSc Hons) in Physics and Mathematics from the University of Cape Town.This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. 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Afentra PLC has signed Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels for a Risk Service Contract for offshore Block 3/24. This agreement expands Afentra's offshore acreage from 265 km² to 810 km² and includes five established oil and gas discoveries. The contract allows for a five-year review period and a subsequent 25-year production period, with Afentra holding a 40% interest. CEO Paul McDade expressed optimism about enhancing production and reserves in the area, leveraging existing infrastructure.

REG - Afentra PLC - Block 3/24