AFRICA OIL SHARE CAPITAL AND VOTING RIGHTS UPDATE

<br /> AFRICA OIL SHARE CAPITAL AND VOTING RIGHTS UPDATE<br />

Canada NewsWire

VANCOUVER, BC

,

Aug. 31, 2022

/CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI)

– Africa Oil Corp.

(“Africa Oil”, or the “Company”) reports the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act.

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As a result of the exercise of stock options under the Company’s Stock Option Plan, the Company now has 477,413,774 common shares issued and outstanding with voting rights as at

August 31, 2022

.

About Africa Oil

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater

Nigeria

; development assets in

Kenya

; and an exploration/appraisal portfolio in

Africa

and

Guyana

. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.

Additional Information

This information is information that Africa Oil is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at

5:30 p.m. ET

on

August 31, 2022

.