OANDO PLC - Oando Signs Production Sharing Contract for Block KON 13 in Angola

Oando Signs Production Sharing Contract for Block KON 13 in Angola

 Oando PLC
 (Incorporated in Nigeria and registered as an external company in
 South Africa)
 Registration number: RC 6474
 (External company registration number 2005/038824/10)
 Share Code on the JSE Limited: OAO                                                       
 Share Code on the Nigerian Stock Exchange: UNTP
 ISIN: NGOANDO00002
 ("Oando" or the "Company")


Oando Signs Production Sharing Contract for Block KON 13 in Angola

Lagos, Nigeria - March 31, 2026

Oando PLC ("Oando" or the "Company"), Africa's leading indigenous energy solutions provider listed
on both the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE), is pleased
to announce that the Production Sharing Contract (PSC) for Block KON 13 has been executed between
the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG) and the contractor group, further
to its announcement of 22 January 2025 regarding the award of the block.

Block KON 13 is located in the onshore Kwanza Basin, Angola. The block has two (2) exploration wells
previously drilled to a total depth of 3,000m, with oil shows encountered in one well across various
depths.

With a 45% participating interest, Oando's wholly owned subsidiary, Oando Exploration and Production
Angola Ltd, will serve as operator of the block. The other partners in the consortium are Effimax Energy
– Serviços, Lda (30%), Sonangol Exploração & Produção (15%), and Walcot Ltd (10%).

Commenting on the signing, Wale Tinubu CON, Group Chief Executive of Oando said, "The execution
of this Production Sharing Contract advances our geographic footprint across Africa and reaffirms a
commitment to excellence and execution we have repeatedly demonstrated on the continent. We bring
proven technical expertise to this asset and a clear mandate to create value for our partners and
advance Angola's energy ambitions for the benefit of the continent. We look forward to working with
ANPG, our co-venturers, and key stakeholders in moving from agreement to action."

This milestone further solidifies Oando's strategic entry into the Angolan oil and gas sector and
represents a significant step in its long-term vision to grow its upstream operations across Africa. It also
represents the Company's first operated international upstream joint venture and further strengthens its
position as a prominent player in the continent's energy landscape.

Following the successful acquisition of Nigerian Agip Oil Company Limited, the addition of Block KON
13 further bolsters the Company's upstream portfolio and underscores its commitment to driving
regional growth and energy security. Today, Oando, through its upstream businesses, holds interests
in 14 oil and gas assets spanning exploration, development, and production activities, both onshore
and offshore, in Nigeria and São Tomé and Príncipe. The Company maintains an extensive asset
portfolio comprising over 22,447 square km of acreage, a capacity to handle 483,000 barrels of oil per
day (bopd), a gas handling capacity of 3,663 million standard cubic feet per day (mmscf/d), 3.5 million
barrels of terminal capacity, a pipeline network spanning over 1,255 km, 14 flow stations, and a 1GW
power plant.


For further information, please contact:

Folasade Ibidapo-Obe
Company Secretary
The Wings Office Complex,
17A Ozumba Mbadiwe Avenue,
Victoria Island, Lagos, Nigeria.
Tel: +234 (1) 270400, Ext 6159
Email: fibidapo-obe@oandoplc.com


For: Oando PLC

Mrs. Folasade Ibidapo-Obe
Chief Compliance Officer & Company Secretary

JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited

Date: 31-03-2026 10:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.