Introduction

Africa Oil Corp (“Africa Oil”) recognizes that oil and gas activities may result in disturbance to the environment in its areas of operation and we aim to minimize this impact.

We operate as responsible stewards in compliance with the applicable environmental laws and regulations of the countries in which we operate, and we manage our activities based on good international industry practice, including the Performance Standards on Environmental and Social Sustainability of the International Finance Corporation. Where national law and good industry practice differ, we will follow the most stringent requirement.

Our Commitments

Operational Planning

  • We will develop an appropriate management system to implement this Policy, and measure performance as part of a process of continuous improvement.
  • We identify the potential environmental and ecological risks and impacts of our activities and any that cannot be mitigated by design are managed and monitored via our management systems.
  • We obtain and maintain all of the necessary permits and licenses for our activities.
  • We consult with our stakeholders on environmental issues that may affect them.
  • We investigate all environmental incidents, ensuring diligence in our response and provide corrective and preventative actions.
  • We develop and maintain emergency response procedures for the protection of our operating environment, the prevention of pollution, and the protection of workers, contractors and local communities.
  • We design and plan our operations so that adequate resources are available to meet closure requirements and so we can restore operational sites to their previous land use capability in a timely manner in line with local legislative requirements.

Resource Management

  • We will consider the impact of our activities on the availability of water in the areas where we operate and consider local conditions to manage and mitigate our impacts. If impacts cannot be avoided, we adopt mitigation measures to remedy the impact.
  • We strive to minimize water consumption at our assets.
  • We ensure that any discharges to the natural environment meet relevant environmental standards.
  • We strive to improve operational efficiency and monitor our water use, energy use and greenhouse gas and air emissions, setting appropriate and measurable objectives and targets that promote the efficient use and conservation of natural resources.

Biodiversity

  • We recognize that oil and gas activities may result in disturbances to the vegetation and wildlife in our areas of operation.
  • We assess and put measures in place to minimize our impact on biodiversity and ecosystems in line with the mitigation hierarchy and, where appropriate, undertake offsetting measures to ensure that our activities lead to a no net loss of important biodiversity and habitats.

Waste

  • We store all materials onsite in an appropriate manner and we manage and monitor our waste streams by applying the waste hierarchy to our operations. We provide for safe storage and disposal of residual wastes and process residues.

Monitoring and Reporting

  • In seeking to minimize the environmental impact of our business, we will establish relevant, quantifiable year-on-year targets.
  • We regularly review our objectives and targets for improved environmental performance and report our performance externally to our stakeholders in a timely and transparent manner.

Governance

Application

This Policy applies to all staff at Africa Oil and our Operated Assets, including our contractors and sub- contractors.

Where we do not have operational control, we encourage, support and work with our operating partners to the extent possible to act in a manner consistent with the commitments set out in this Policy.

This Policy will be reviewed on a regular basis to ensure that it continues to support and encourage a high standard of environmental performance on our projects.

Accountability

Africa Oil’s Chief Operating Officer has overall responsibility for the implementation and enforcement of this policy.

Senior leadership within Africa Oil and its subsidiaries are accountable for the implementation of, and adherence to, this Policy.

Adopted by the Board on May 6, 2021