Results of the Placing

Europa Oil & Gas (Holdings) plc, (AIM: EOG) the AIM quoted West Africa, UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that it has conditionally raised gross proceeds of approximately £3.5m, before expenses, through the conditional placing of 291,667,000 new Ordinary Shares of 1 pence each (the "Placing Shares") at an issue price of 1.2 pence per share (the "Issue Price").

In addition, one warrant will be issued for every four Placing Shares ("Placing Warrant") with an exercise price of 2 pence and an expiry date 2 years after the date of the Placing Shares' admission to AIM.

The issue of the Placing Shares and the Placing Warrants is conditional, inter alia, on shareholder approval at a General Meeting of the Company which will take place on or around 27 February 2026 (the "General Meeting").

The proceeds will extend the Company's cash runway to ensure that the Barracuda prospect is drilled and provide additional financial resources for the Company's ongoing working capital needs.

IF THE RESOLUTION TO BE PROPOSED AT THE GENERAL MEETING REGARDING THE ISSUE OF THE PLACING SHARES AND ANY SHARES TO BE ISSUED UNDER THE WRAP RETAIL OFFER IS NOT PASSED, THE COMPANY WILL NOT HAVE SUFFICIENT FUNDS TO MAINTAIN ITS CURRENT INTEREST IN ANTLER (AND THEREFORE THE EG-08 LICENCE) NOR TO CONTINUE ITS OTHER OPERATIONS AND THERE WOULD BE A MATERIAL UNCERTAINTY OVER THE COMPANY'S ABILITY TO CONTINUE AS A GOING CONCERN.

The Circular, containing further details of the Placing is expected to be posted by the Company to its shareholders shortly and will contain a notice convening the General Meeting. After posting, the Circular will also be available on the Company's website.

In connection to the Placing, Tennyson Securities (a trading name for Shard Capital Partners LLP) are acting as sole Broker to the Company.

If the necessary resolutions are not passed at the General Meeting, the Placing Shares will not be issued, and the proceeds of the Placing will not be available to the Company.

Application will be made for the Placing Shares to be admitted to trading on the AIM market of London Stock Exchange plc ("Admission"). Assuming the necessary shareholder resolutions are passed at the General Meeting, it is expected that Admission will take place at or around 8.00 a.m. (London time) on 3 March 2026 (or such later date as may be agreed between the Company and Tennyson) but in any event not later than 8.00 a.m. on 31 March 2026. The Placing is conditional upon, inter alia, Admission becoming effective and the placing agreement between the Company, and Tennyson (the "Placing Agreement") not having been terminated.

Broker Warrants

In connection with the Placing, 10,208,345 broker warrants are proposed to be granted to Tennyson Securities, exercisable at the Issue Price with a three-year expiry.