African Pioneer Significant Shareholders

As at Admission on 01 June 2021 the Company had in issue 189,459,550 ordinary shares of zero par value

As at the close of business on 25 May 2021 (the “Latest Practicable Date”), insofar as the Company has been notified, the following persons were directly or indirectly interested in 3 per cent. or more of the Company’s issued share capital. Their proportionate ownership immediately following Admission is also set out below.

* Christian Cordier’s shareholding includes 4,000,000 Ordinary Shares held by Tonehill Pty Ltd and 3,000,000 Ordinary Shares held by Coreks Super Pty Ltd both of which companies are owned and controlled by Mr Christian Cordier, the Company’s Director. It also includes 8,000,000 Ordinary Shares held via Breamline Pty Ltd of which Mr Christian Cordier is a director and which is a trustee company for Breamline Ministries “Breamline”.

** Colin Bird’s shareholding includes 5,000,000 Ordinary Shares held by Campden Park Trading, a company owned and controlled by Mr Colin Bird, the Company’s Chairman.