Africa Energy restructures Main Street deal, targets 75% stake in Block 11B/12B

• Africa Energy restructured its investment agreements with Arostyle for Main Street, extending the long-stop date to Dec. 31, 2028.
• Main Street is set to receive the joint venture’s remaining 90% stake in Block 11B/12B, lifting its holding to 100% pending approvals.
• Africa Energy will buy Arostyle’s 51% stake in Main Street, taking 100% of common shares plus 100% of Class B shares.
• Main Street will transfer 25% of Block 11B/12B to Arostyle, leaving Africa Energy with a 75% participating interest.
• All interparty loan claims will be settled in full, subject to regulatory approvals including Section 11 transfer consent.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Africa Energy Corp. published the original content used to generate this news brief via CNW (Ref. ID: 202609291730CANADANWCANADAPR_C4851) on September 29, 2026, and is solely responsible for the information contained therein.