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Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE.

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Investment Committee

1. Mandate

The functions and responsibilities of the Committee shall be:

1.1 Primary duties

Role vis-à-vis Executive Management:

The Executive Management of the Company shall be responsible for identifying acquisition, merger and disposal opportunities. The Committee shall assist and advise Executive Management on such opportunities and all aspects of other material transactions not in the ordinary course of business, and matters related thereto.

The Committee shall approve any recommendations or proposals to be made to the Board in relation to such opportunities or transactions. The Committee shall further monitor the performance of investments and provide regular feedback and/or recommendations to the Board on the performance of the investments.

Role vis-à-vis the Board:

The Committee shall make recommendations to the Board, monitor on behalf of the Board and report to the Board on material acquisition, merger, or disposal opportunities and on-going material transactions, including post acquisition recommendations and all matters related thereto.

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