EFORA ENERGY LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE Share Code: EEL

ISIN: ZAE000248258

(“Efora” or “the Company”)

UPDATE ON ENCHA PAYMENT

Shareholders are referred to the announcement released on SENS on 22 November 2019 outlining Encha Group Limited’s indebtedness to the Company of R75 million plus interest and arbitration costs. We are progressing the recovery of these amounts and shareholders will be notified as soon as payment is received from Encha.

Johannesburg

31 January 2020

Sponsor

PSG Capital

For further information please contact:

Efora Energy Limited

Tariro Gadzikwa

+27 (0)10 591 2260

About Efora

Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout Southern Africa. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.