First Energy Africa Oil Corp. Appoints Industry Veterans Simon Akit and Frederick Kozak to Board

First Energy Africa Oil Corp. ("First Energy Africa" or the "Corporation"), a Calgary-based energy corporation, announced the appointment of Simon Akit and Frederick Kozak to its Board of Directors, effective July 13, 2026. The new directors bring a combined 60 years of experience in capital markets and the resource industry, reinforcing the board's expertise as the company pursues exploration and block acquisitions in sub-Saharan Africa.

Simon Akit, founder and managing partner of a resource advisory firm, has over 25 years of experience in Canadian and U.S. capital markets, complemented by seven years of engineering and operations in the resource sector. He has held senior capital markets and leadership roles at Ventum Financial and 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. Akit holds an MBA from the Rotman School of Management at the University of Toronto, is a Professional Engineer (APEGA), and serves on the boards of several public and private companies.

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

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 appointments signal a strengthening of the board as the company navigates the complexities of resource development in the region, with an emphasis on leveraging the new directors' capital markets expertise and technical background to advance its strategic goals.