ARADEL HOLDINGS PLC

Aradel Holdings Plc originates from the Midas Drilling Fund, established in Nigeria on March 25, 1992, as the nation's inaugural integrated oil and gas investment company. It underwent a name change to Niger Delta Exploration and Production Plc in November 1996 and adopted its current identity as Aradel Holdings Plc in May 2023. The company has evolved into a fully integrated energy group with a legacy rooted in enabling ordinary Nigerians to invest in and benefit from the oil and gas sector. Its operations encompass a broad spectrum of the energy industry, including exploration, production, refining, and distribution, alongside interests in power and renewables. Aradel Holdings primarily serves the Nigerian market, with its flagship asset being the Ogbele Marginal Field in Rivers State, and aims to deliver sustainable energy solutions across Africa. The core business of Aradel Holdings involves the exploration and production of crude oil and natural gas, and the refining and distribution of various petroleum products. Its product offerings include crude oil, natural gas, Automotive Gas Oil (AGO), Dual Purpose Kerosene (DPK), Marine Diesel Oil (MDO), Heavy Fuel Oil (HFO), and Naphtha. The company operates through several key subsidiaries: Aradel Energy Limited, which focuses on exploration and harnesses opportunities in the energy industry; Aradel Gas Limited, leveraging investment opportunities in the gas sector; Aradel Refineries Limited, operating a refinery at the Ogbele field; and Aradel Investments Limited, which manages the group's non-oil and gas assets. Additionally, Aradel Holdings holds an equity interest in Shell Petroleum Development Company (SPDC) Limited, Nigeria, through its participation in Renaissance Africa Energy Company Limited.