Stampede Natural Resources S.à r.l. Files Early Warning Report “`

1997698ccb080e9f5921f7df441dbffd 2 STAMPEDE NATURAL RESOURCES S.À R.L. ISSUES EARLY WARNING PRESS RELEASE

LUXEMBOURG, January 19, 2025 – This press release is issued by Stampede Natural Resources S.à r.l. (“Stampede”), in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, regarding its beneficial ownership of common shares (the “Common Shares”) of Africa Oil Corp. (the “Company”), headquartered at Suite 2500, 666 Burrard Street, Vancouver, British Columbia, Canada V6C 2X8.

Stampede has sold a total of 12,511,849 Common Shares of the Company (the “Dispositions”), as detailed below.

Between April 17, 2024 and January 17, 2025, Stampede sold 9,350,329 Common Shares through open market transactions at the prevailing Toronto Stock Exchange and Nasdaq Stockholm prices, receiving CAD$19,581,835 (an average of CAD$2.11 per share). Additionally, during this period, Stampede transferred 3,161,520 Common Shares to non-affiliates without receiving any compensation.

Immediately before the Dispositions, Stampede held 66,569,922 Common Shares, representing approximately 14.59% of the issued and outstanding Common Shares (undiluted). After the Dispositions, Stampede’s beneficial ownership stands at 54,058,073 Common Shares, or roughly 12.31% (undiluted). The Dispositions reduced Stampede’s holdings by approximately 2.28% (undiluted).

Stampede sold the Common Shares for investment purposes. Stampede will periodically review its holdings and may buy or sell additional Company securities based on market conditions and other factors. While Stampede currently has no plans to acquire more Company securities, it intends to regularly review its investment and may decide, independently or as part of a group, to (i) acquire additional securities through open market or private transactions, (ii) sell some or all of its Company securities through open market or private transactions, or (iii) pursue other actions, potentially involving corporate transactions with the Company. Any such acquisitions, dispositions, or transactions will comply with all applicable laws and regulations, subject to any transfer restrictions. Stampede retains the right to alter its intentions regarding these matters.

Stampede, a Luxembourg company, is an investment holding company involved in holding, distributing, and selling securities. Stampede’s registered office is at 16 Rue Eugène Ruppert L-2453 Luxembourg, Grand Duchy of Luxembourg.

An early warning report detailing these Dispositions, in accordance with Canadian securities laws, will be filed with relevant regulators and will be accessible on SEDAR+ under the Company’s profile. A copy of the report is available from Stampede using the contact information below.

SOURCE Stampede Natural Resources S.à r.l.

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