NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

A copy of the Admission Document is available for viewing on Coastal Africa Group Limited's corporate website at https://coastalafrica.com, subject to certain access restrictions.

This announcement is not a prospectus (or prospectus equivalent) and not an offer of securities for sale nor a solicitation of an offer to acquire or a recommendation to sell or buy securities in any jurisdiction, including in or into the United States, Canada, Australia, New Zealand, the Republic of South Africa or Japan.

10 June 2026

COASTAL AFRICA GROUP LIMITED

Admission to AIM and First Day of Dealings

Coastal Africa Group Limited ("Coastal" or the "Company") (AIM: CAGL), an AIM-quoted investing company focused on acquiring and investing in the oil and gas sector, energy infrastructure, energy services and energy assets across West Africa, is pleased to announce the admission of its ordinary shares of no par value each in the Company ("Ordinary Shares") to trading on the AIM market of the London Stock Exchange ("Admission"). The Company's Ordinary Shares will commence trading at 8.00 a.m. today under the ticker symbol "CAGL" and the ISIN VGG1963P1009.

The Company has raised gross proceeds of approximately £17.36 million via the issue of 10,783,627 Ordinary Shares by the Company ("Subscription") at a price of 161 pence per share ("Subscription Price"). In addition, upon Admission, BP Oil International Limited ("BP Oil") has agreed to subscribe for £10 million of convertible loan notes, issued by the Company pursuant to a convertible loan note agreement dated 4 June 2026 ("Convertible Loan Notes").

On Admission, Coastal will have 135,783,627 Ordinary Shares in issue with a market capitalisation of approximately £218.66 million at the Subscription Price. The Company is an investing company for the purposes of the AIM Rules. Coastal has been established with the ultimate objective of creating value for its investors through the acquisition and management of companies or assets in the energy sector.

The Company's acquisition strategy will be primarily focused on the oil and gas sector (including upstream and midstream opportunities), energy infrastructure, energy services and energy assets in West Africa, though it may consider opportunities in other jurisdictions where the Directors believe there are opportunities to create shareholder value.

The Company does not currently own any trading businesses or operational assets and has not generated revenue to date. The Company has three subsidiaries, one of which is incorporated in a core target jurisdiction, and no subsidiary has traded to date. The Company expects to achieve its investment objectives and strategy and deliver capital appreciation by undertaking an acquisition, which will result in the Company becoming an operating company and its Investing Policy ceasing to apply (the "Acquisition").

Whilst the Company seeks to identify and undertake the Acquisition, it intends to use some or all of the net proceeds of the Subscription and the Convertible Loan Notes to (i) acquire a portfolio of minority, non-controlling interests in assets in the West African oil and gas sector (the "Minority Investments"); (ii) fund transactional due diligence costs and minor corporate expenses to enable the Company to seek opportunities and pursue its strategy in relation to the Acquisition and any Minority Investments; and (iii) fund, in part, the Acquisition.

The Company's Admission Document and information required pursuant to AIM Rule 26 is available on the Company's website at https://coastalafrica.com.

Commenting, Peter Kimpel, Non-Executive Chairman of Coastal, said:

"Today marks an important milestone for Coastal as the Company commences trading on AIM and begins executing its strategy to identify and develop compelling energy opportunities across West Africa. The Company is now well-equipped to capitalise on the opportunities in the region, which continues to present a highly attractive environment for experienced operators capable of partnering constructively with governments, local stakeholders, and industry participants to unlock value from strategically important energy assets."

Conrad Clauson, Chief Executive Officer of Coastal, added:

"We are pleased to complete our Admission to AIM which puts Coastal in a strong position to pursue its growth strategy. Our approach is founded on the integration of upstream, evacuation and marine capabilities, which we believe can enhance operational efficiency, reduce execution risk and support stronger asset economics. We see a significant opportunity across shallow-water West African projects and look forward to leveraging the experience of our team to progress opportunities capable of delivering attractive returns for shareholders while supporting broader regional development objectives."

Highlights:

TOTAL VOTING RIGHTS

The total number of Ordinary Shares in issue on Admission will be 135,783,627, each carrying the right to one vote and the total number of voting rights will therefore be 135,783,627. No shares are held in treasury. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

IMPORTANT NOTICES:

This announcement does not constitute or form part of any offer for sale or subscription or any solicitation of any offer to buy or subscribe for any securities and neither this announcement nor any part of it forms the basis of or may be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

The information contained in this announcement is for background purposes only and does not purport to be full or complete, nor does this announcement constitute or form part of any invitation or inducement to engage in investment activity. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The contents of this announcement are not to be construed as legal, financial or tax advice.

Forward-looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The Company undertakes no obligation to update or revise publicly the forward-looking statements contained in this announcement to reflect any change in expectations or to reflect events or circumstances occurring or arising after the date of this announcement, except as required in order to comply with its legal and regulatory obligations.

Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all or part of the amount invested. Persons considering making such an investment should consult an authorised person specialising in advising on such investments.

This announcement does not constitute a recommendation concerning the Ordinary Shares. The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. On any sale of an investment an investor may get back less than he or she originally invested. Potential investors should consult a professional adviser as to the suitability of the Ordinary Shares for the person concerned before making any investment decision. Past performance cannot be relied upon as a guide to future performance. This announcement includes information regarding the track record and experience of the directors and senior management. Such information is not necessarily comprehensive and prospective investors should not consider such information to be indicative of the possible future performance of the Company.

Neither S.P. Angel Corporate Finance LLP ("S.P. Angel"), nor any of its affiliates, directors, officers or employees, advisers, agents or any other person accepts any responsibility or liability whatsoever for the contents of, or makes any representations or warranties, express or implied, as to the accuracy, completeness, fairness, reasonableness, verification or sufficiency of the information presented or contained in this announcement or any other statement made or purported to be made by it or them, or on its or their behalf, relating to the Company, its subsidiaries and their associated companies, the Ordinary Shares or Admission and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or the future. or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, each of S.P. Angel and its affiliates, directors, officers or employees, and any other person acting on their behalf expressly disclaims, to the fullest extent possible, any and all liability whatsoever for any and all loss howsoever arising from, or in reliance upon, the whole or any part of the contents of this announcement, whether in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

S.P. Angel is acting exclusively for the Company and no-one else in connection with Admission. S.P. Angel will not regard any other person (whether or not a recipient of this announcement) as a client in relation to Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to Admission, the contents of this announcement or any transaction, arrangement or other matter referred to herein. The responsibilities of S.P. Angel, as nominated adviser under the AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange and are not owed to the Company, any Director, or any other person in respect of their decision to acquire Ordinary Shares in reliance on any part of this announcement.

S.P. Angel Corporate Finance LLP is authorised and regulated in the United Kingdom by the FCA.

For the avoidance of doubt, the contents of the Company's website are not incorporated by reference into, and do not form part of, this announcement.

ENDS