Coastal Africa Group Limited ("CAGL" or the "Company")

C/o Harneys Corporate Services Limited

Craigmuir Chambers

P.O. Box 71

Road Town

Tortola

VG 1110

British Virgin Islands

British Virgin Islands

From Admission the following website will include AIM Rule 26 disclosures.

www.coastalafrica.com

CAGL is an investing company which was incorporated in BVI on 30 December 2025. The Company 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 mid-stream 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 two subsidiaries, one of which is incorporated in a target jurisdiction, and neither subsidiary has traded to date. Upon Admission, the Company will be an 'investing company' for the purposes of the AIM Rules. In due course the Company intends to undertake an acquisition which will result in the Company becoming an operating company and its Investing Policy will cease to apply (the "Acquisition").

Whilst the Company seeks to identify and undertake an Acquisition, it intends to acquire a portfolio of minority, non-controlling interests in assets in the West African oil and gas sector (the "Minority Investments").

The Directors believe that production from shallow water assets in Nigeria has dwindled due to dilapidated infrastructure and underinvestment but there remains significant untapped, recoverable resources. With a series of these assets potentially coming to market through: (i) the ongoing Nigeria Upstream Petroleum Regulatory Commission licensing round for undeveloped fields, which the Company has pre-qualified for, has procured the relevant data packages and is currently preparing its technical and commercial submission, (ii) legacy and current bid rounds awarded to companies seeking Technical and Financial Partners and (iii) the Nigerian National Petroleum Company Limited's major divestment programme, announced in December 2025, for which the Company has also been pre-qualified and intends to bid for specific asset packages as part of a competitive auction process.

Investing Policy:

Sector Focus - the Company intends to focus its search in relation to both the Acquisition and the Minority Investments on the oil and gas sector (including upstream and mid-stream opportunities), energy infrastructure, energy services and energy assets.

Geographic focus: the Company's initial focus will be on offshore assets in West Africa, in particular in the core target markets of Nigeria and Angola, though in the future, the Company may invest across Africa and, where there is a marine evacuation opportunity, may consider onshore or swamp assets.

Proposed targets: The Company intends to make the Acquisition and become an operating company within 18 months of Admission in accordance with the AIM Rules for Companies. The Acquisition, which would result in the Company becoming an operating company, may be direct or indirect licence acquisitions, direct interests in producing and/or non-producing oil and gas assets, quoted or unquoted companies, made by acquisition or through farm-ins, in companies, partnerships or incorporated or unincorporated joint ventures or licence interests. The Company may target "stranded jewels" (formerly prolific assets whose production has dwindled), proven stand-alone shallow water brownfields with existing appraisal wells or cluster developments. The Company may also seek to undertake investments in processing, storage and evacuation facilities through the provision of Floating Production Storage and Offloading units (FPSOs), Floating Storage and Offloading units (FSOs) and Mobile Offshore Production Units (MOPUs). The Company may also consider appraisal stage assets as part of a wider development/drilling programme.

Whilst the Company seeks to identify and undertake the Acquisition, the Company anticipates investing in the Minority Investments through the acquisition of interests in licences or working interests, incorporated or unincorporated joint ventures or shares in companies. These assets include producing and/or non-producing as well as oil and gas processing, storage and evacuation facilities. The Minority Investments will be classified as investments and the Company will continue to function as an investing company.

Types of investment and control of investments: Once suitable assets for the Acquisition have been identified, it is anticipated that the Company will acquire directly or indirectly and control one or more licences which it will operate alone or through incorporated or unincorporated joint ventures or working interests, assets, businesses or shares or companies on a long-term basis and the Company will become an operating company at this stage. The Company intends, where possible, to actively support the management and development of the assets that it acquires irrespective of the equity ownership acquired in the assets with a view to improving performance and adding value to the assets. The Company will not seek to make stand-alone debt investments.

Whilst the Company is seeking to identify and undertake the Acquisition, it is anticipated that the Company will acquire non-controlling, non-operated minority interests in projects, assets, businesses or shares in companies or through incorporated or unincorporated joint ventures. There is no maximum or minimum number of such investments that the Company can hold at any one time. Similarly, there are no limits nor minimum or maximum exposure limits to any such investments or geography.

Investment size and leverage: When making the Acquisition the Company places no limitation on the size of the investment it seeks to make and the Company may utilise debt facilities to fund in whole or part of the Acquisition. 

Nature of returns: it is anticipated that returns to Shareholders will be delivered through an appreciation in the Company's share price. The Company's current intention ahead of the Acquisition is to retain earnings for its further operations, per the Company's dividend policy.

Whilst the Company seeks to identify and undertake the Acquisition, any Minority Investments made would be made from existing cash resources available to the Company. If necessary, additional capital investment is expected to be funded through further equity issuance.

Number of ordinary shares of no par value each in the share capital of the Company ("Ordinary Shares") to be admitted: TBC

Issue price per ordinary share: TBC

No Ordinary Shares will be held in treasury.

The Ordinary Shares will be freely transferable and have no restrictions as to transfer placed on them.

Capital to be raised on Admission: TBC

Anticipated market capitalisation on Admission: TBC

TBC

None

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Peter Kimpel, Non-Executive Chairman

Conrad Johan Clauson, Chief Executive Officer

Ogbemi Eyituovo Ofuya, Chief Financial Officer

Cornelius Johan Eek Clauson, Commercial Director

Richard James Edward Moore, Independent Non-Executive Director

Not applicable

i)          31 December

ii)         N/A - no historical financial information

iii)   Unaudited interim accounts for the period 30 December 2025 to 30 June 2026 by 30 September 2026; audited annual accounts for the period 30 December 2025 (incorporation) to 31 December 2026 by 30 June 2027; unaudited interim accounts for the six month period ending 30 June 2027 by 30 September 2027

Early June 2026

SP Angel Corporate Finance LLP

Prince Frederick House

35-39 Maddox Street

London

W1S 2PP

SP Angel Corporate Finance LLP

Prince Frederick House

35-39 Maddox Street

London

W1S 2PP

21 May 2026

New