Crown Energy

Over the past few months, Crown Energy has focused on the development within our operational areas and would like to provide an update on the ongoing operations and our priorities moving forward.

Crown Energy has seen a trend of growing demand for real estate and related asset and management services throughout the year, creating new potential opportunities for expansion within our existing operational areas. This aligns with the increasing global attention Angola is receiving, as evidenced by recent high-profile engagements such as President Joe Biden's visit to Luanda in November 2024. We are working hard to ensure that these trends lead to new partnerships and projects going forward. Angola remains an important market for us, and we are committed to strengthening our engagement in the region in line with our goal of creating sustainable growth and value for our shareholders.

In November, the board and management conducted a site visit to Angola to explore existing assets and evaluate potential new projects and business opportunities, especially in relation to sustainable investment initiatives. The visit included meetings with local business partners and decision-makers, as well as a more in-depth review of the KAYA initiative in the Malanje region. During the visit to Malanje, local employees, consultants, and external experts highlighted the positive reception of the project and expressed confidence in our commitment. The delegation from Crown Energy also had the opportunity to engage with regional leadership, including the Governor of Malanje, who participated in the site visit to gain further insights into the project and its potential regional significance.

CEO Yoav Ben-Eli also participated in a breakfast seminar organised by Business Sweden, where discussions were held with representatives from larger companies about opportunities in Angola. The seminar was followed by a meeting with local representatives from Sweden, where the company’s operations and ambitions, as well as the EU’s growing role in international climate-related projects, were discussed.

Regarding the special examination requested by minority shareholders at the extraordinary general meeting in September, the Swedish Companies Registration Office decided in November to appoint the special examiner. However, the company has appealed the selection of the examiner to ensure that an independent candidate is assigned. Crown Energy will cooperate fully with the person who is ultimately appointed.