Lagos, Nigeria – 24th October 2025

Aradel Holdings Plc (“Aradel” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Aradel Energy Limited has entered into a definitive agreement to acquire a 40% equity interest, in ND Western Limited (“NDW”) from Petrolin Trading Ltd. (“Petrolin”).

Aradel Energy Limited currently owns 41.67% of NDW. Upon completion of this transaction, Aradel’s total shareholding in NDW will significantly increase, reinforcing its strategic position within Nigeria’s upstream oil and gas sector.

NDW holds a 45% participating interest in OML 34 (“OML 34”), a producing Oil Mining Lease located in the Western Niger Delta. OML 34 contains material crude oil and associated gas reserves contributing to Nigeria’s domestic energy supply and exports. In addition, NDW owns 50% of the share capital of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited which operates the Renaissance Joint Venture.

Completion of the Transaction remains subject to necessary regulatory approvals from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Competition and Consumer Protection Commission (FCCPC) and Ministerial Consent.

Responsibility for publication
The person responsible for arranging the release of this announcement on behalf of Aradel Holdings Plc is Adegbola Adesina.

Adegbola Adesina
Chief Financial Officer
Email: [email protected]; [email protected]