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Updated Trading Statement

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”)

UPDATED TRADING STATEMENT

Further to the trading statement released on SENS on 23 May 2019, as an updated trading statement, shareholders are advised that for the year ended 28 February 2019, the loss per share is expected to be between 52.64% and 72.6% more than the loss per share reported for the year ending 28 February 2018 (“Comparative Period”) of 42.34 cents, at between -64.63 and -73.09 cents per share.

Headline loss per share is not expected to differ by more than 20% compared to the headline loss per share for the Comparative Period of 42.20 cents.

The financial information on which this trading statement is based has not been reviewed or reported on by the auditor of the Company. The results for the year ended 28 February 2019 are expected to be published today.

Johannesburg

31 May 2019

Sponsor

PSG Capital

For further information please contact:

Efora Energy Limited

Tariro Gadzikwa +27 (0)10 591 2260

Buchanan (Financial PR adviser)

Ben Romney / Chris Judd +44 (0)20 7466 5000

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 in South 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.

Date: 31/05/2019 17:09:00

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IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES

If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.

Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.

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