New directors bring 60 years of combined capital markets and resource industry expertise

CALGARY, ALBERTA - Media OutReach Newswire - 14 July 2026 - First Energy Africa Oil Corp. ("First Energy Africa" or the "Corporation"), a Calgary-based energy corporation , today announced the appointment of Simon Akit and Frederick Kozak to its Board of Directors, effective July 13th, 2026.

Mr. Akit is founder and managing partner of a resource advisory firm, bringing more than 25 years of experience in Canadian and U.S. capital markets and seven years of engineering and operations experience in the resource industry. He has held senior capital markets and leadership roles at Ventum Financial, Canaccord Genuity, among others and has raised over $5 billion in equity and debt financing for resource companies from institutional investors across Canada, the United States, Europe, and Asia. He holds an MBA from the Rotman School of Management at the University of Toronto, is a Professional Engineer (APEGA) and currently serves on the boards of several public and private companies.

A Canaccord Genuity former oil and gas research analyst, Kozak is an award winning financial analyst and corporate executive. He brings more than 40 years of experience in the resource and capital markets sector with a focus in Africa and South America. Mr. Kozak holds an MBA from the Ivey School of Business at the University of Western Ontario. He is a Professional Engineer (APEGA) with Lifetime status in Alberta and currently serves on the boards of one public company and one private company.

"Simon and Fred are bringing complementary technical and capital markets seniority required for our complex business. We are confident their contributions will set the right approach on our strategic priorities," said Jeff Ruskowsky, President, First Energy Africa

The Corporation remains committed to upholding the highest standards of governance and sustainability as it continues to responsibly unlock value across its resource portfolio.

About First Energy Africa Oil

First Energy Africa Oil Corp. is a privately held Canadian corporation pursuing exploration and block acquisitions in sub-Saharan Africa. The Company is headquartered in Calgary, Alberta, Canada.

The issuer is solely responsible for the content of this announcement.

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