Exercise of Warrants, Issue of Shares and TVR

Corcel Plc (London AIM: CRCL), the Angolan focused exploration and production company, is pleased to announce that it has received notice of the exercise of 39,285,714 warrants at a price of £0.0021 per share, for gross proceeds of £82,500.00, which have been credited to the Company's account. Accordingly, the Company has issued 39,285,714 new ordinary shares of £0.0001 each ("Warrant Shares") in the Company.

Admission to Trading on AIM and Total Voting Rights

Application is being made for the Warrant Shares 39,285,714 in total, to be admitted to trading on AIM, the admission of which is expected on or around 4 January 2024.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Shares, its issued ordinary share capital will comprise 1,638,814,702 ordinary shares.

All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 1,638,814,702. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.