CONOIL Plc's 55th agm resolutions

CONOIL PLC

Registered office: Bull Plaza, 38/39, Marina,

P.M.B. 12915, Lagos

Operations Office:

1, Conoil/AP Road, Off Naval Dockyard Road

P.O. Box 45, Apapa, Lagos

www.con oilpIe.com

RC: 7288

RESOLUTIONS OF CONOIL PLC'S SSTH ANNUAL GENERAL MEETING

The Annual General Meeting of Conoil Plc (the Company) for the year ended December 31, 2024 was held on Friday, 19th December 2025 and the following resolutions were passed:

1. To lay before the members, the Report of the Directors and the Statement of Financial position as at December 31, 2024 together with the Statement of Profit or Loss.

   The Report of the Directors and the Statement of Financial position as at December 31, 2024 was laid before the members in the Annual General Meeting together with the Statement of Profit or Loss and Other Comprehensive Income for the year ended on that day as well as the Reports of the Auditors and the Audit Committee. The same were unanimously adopted by members in the Annual General Meeting.

2. To declare a dividend.

   The Members in Annual General Meeting adopted the proposed resolution that a dividend of Three Naira Fifty Kobo (t43.50k) per share in respect of and out of the profit for the year ended December 31, 2024 be declared payable to the shareholders registered in the Company s books as at the close of business on Tuesday, November 25, 2025 subject to the deduction of the statutory Withholding Tax of 10O/«.

3. To elect and re-elect Directors.

   Pursuant to the Articles of the Company, the following Directors: Dr. Mike Adenuga, Jnr. (GCON), Mr. Joshua Ariyo, and Mr. Mike Jituboh who are Non-Executive Directors became due to retire by rotation and being eligible, offered themselves for re-election.

   By a single motion, the Members in Annual General Meeting passed the resolution that Dr. Mike Adenuga, Jr. (GCON), Mr. Joshua Ariyo, and Mr. Mike Jituboh be re-elected as Non-Executive Directors of the Company.

4. To disclose the remuneration of Managers of the Company in compliance with Section 257 of CAMA 2020

   Appropriate disclosure regarding the remuneration of Managers of the Company in compliance with Section 257 of the Companies and Allied Matters Act, 2020 was made to the Members in Annual General Meeting.

5. To ratify the appointment the new External Auditor and to authorise the Directors to fix the remuneration of the new External Auditor for the ensuing year.

   The members at the Annual General Meeting unanimously adopted the following resolutions.

   1. The meeting approve that the new External Auditor should be shortlisted and engaged by the Board of Directors.

   2. The remuneration of the new External Auditor should be agreed by the Board of Directors.

   3. That the new External Auditor engaged by the Board of Directors should be presented for ratification at the next Annual General Meeting of the Company.

6. To elect/re-elect the members of the Statutory Audit Committee.

   The following representatives of the Shareholders were elected as members of the

   Statutory Audit Committee for the next financial year:

   1. Mr. Adejuwon, Ademola Timothy

   2. Mr. Adetunji, Ajani Babajide

   3. Mr. Udoh, Ebong Indongest

      The following Non-Executive Directors were nominated to represent the Board on the

      Statutory Audit Committee:

   4. Mr. Joshua Ariyo, and;

   5. Mr. Ademola Idowu

7. To fix the remuneration of the Non-Executive Directors.

The Members unanimously adopted the proposed resolution and Special Business to fix the remuneration of the Non-Executive Directors.

Bol ji Owolabi

Acting Company Secretary/Legal Adviser

owolabi.b@conoiIpIc.com;

+234 805 557 0106