WRAP Retail Offer

Afentra plc ("Afentra" or the "Company") (AIM: AET), an upstream oil and gas company focused on acquiring production and development assets in Africa is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to £2 million (the "WRAP Retail Offer") through the issue of new ordinary shares of £0.10 each in the capital of the Company ("Ordinary Shares"). Under the WRAP Retail Offer up to 2,985,074 new Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at a price of 67 pence per share to eligible investors in the United Kingdom.

In addition to the WRAP Retail Offer and as announced on 3 June 2026, the Company has announced a placing (the "Placing") of new Ordinary Shares (the "Placing Shares" and, together with the WRAP Retail Offer Shares, the "New Ordinary Shares") to raise approximately US$40 million through a bookbuild process at a price of 67 pence per share (the "Issue Price"). The Issue Price represents a discount of approximately 5.2 per cent. to the mid-market closing price of an Ordinary Share on 2 June 2026 (being the latest practicable date prior to the Placing announcement). The issue price of the WRAP Retail Offer Shares is equal to the Issue Price.

The WRAP Retail Offer and the Placing are conditional on the New Ordinary Shares being admitted to trading on AIM ("Admission"). The Company intends to convene a shareholder meeting, expected to be held on or around 25 June 2026, to approve the allotment of the Conditional Placing Shares and the WRAP Retail Offer Shares. Afentra will publish a Notice of General Meeting, setting out the Resolutions requiring approval, on or around 9 June 2026.

Settlement for, and Admission of, the Conditional Placing Shares and the WRAP Retail Offer Shares is expected to take place on or around 8.00 a.m. on 26 June 2026, subject to the Company's shareholders approving the allotment of the Conditional Placing Shares and the WRAP Retail Offer Shares on a non-pre-emptive basis.

Capitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's announcement dated 3 June 2026.

WRAP Retail Offer

Therefore, the Company is making the WRAP Retail Offer open to eligible investors in the United Kingdom, being new or existing shareholders of Afentra, following release of this announcement and through certain financial intermediaries.

The WRAP Retail Offer is expected to close at 16:30 on 8 June 2026. Eligible retail investors should note that financial intermediaries may have earlier closing times. The result of the WRAP Retail Offer is expected to be announced by the Company on or around 9 June 2026.

There is a minimum subscription of £100 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

UK Product Governance Requirements