ReconAfrica Announces Grant of Stock Options and Restricted Share Units – Charm

CALGARY, Alberta, Aug. 26, 2026 (GLOBE NEWSWIRE) — Reconnaissance Energy Africa Ltd. (the “Company”, “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces that its Board of Directors has approved the grant of an aggregate of 7,715,900 stock options and 3,981,900 restricted share units to certain directors, officers, employees and consultants pursuant to the Company’s Option Plan and RSU/DSU Plan approved by shareholder at the AGM held on February 19, 2026. A total of 6,188,600 options and 3,484,200 restricted share units were granted to insiders. A total of 4,210,000 options expired since the previous granting of options on September 30, 2025.

The Options are exercisable for common shares of the Company at $0.79 per share for a five-year term and vest in accordance with the Stock Option Plan. The RSUs vest over a three-year period in accordance with the terms of the RSU/DSU Plan and with applicable regulatory requirements.

The grants form part of the Company’s annual compensation program. The program is intended to align the interests of employees and other participants with those of shareholders by linking a portion of compensation to the Company’s long-term share-price performance. Details of the plans can be found in the Company’s Management Information Circular available on Sedar+ (www.sedarplus.ca).

About ReconAfrica

ReconAfrica is a Canadian oil and gas company engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia, southeastern Angola and northwestern Botswana, where the Company holds petroleum licences and access to ~13 million contiguous acres. The Company also operates the Ngulu block in the shallow waters offshore central Gabon covering 1,214 Km² (equivalent to 54 Gulf of Mexico blocks) which is strategically located near producing oil fields and infrastructure. The Ngulu block includes the Loba oil field discovery and a large inventory of high impact prospects in the pre-salt and post-salt plays. In all aspects of its operations, ReconAfrica is committed to minimal disturbance of habitat in line with international standards and implementing environmental and social best practices in its project areas.

For further information contact:
Brian Reinsborough, President & Chief Executive Officer
Mark Friesen, Vice President, Investor Relations & Capital Markets

IR Inquiries Email: investors@reconafrica.com
Media Inquiries Email: media@reconafrica.com
Tel: +1-877-631-1160

Cautionary Note Regarding Forward-Looking Statements:

Certain statements contained in this press release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations. Please see the Company’s annual information form (available on Sedar+) dated April 14, 2026, for the financial period ended December 31, 2025 for a complete list of risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.