Commentary & Deal Flow

Azule Energy Finance Plc (“Azule Energy” or the “Company”), (B2/B+ both stable by Moody’s/Fitch) a wholly-owned subsidiary of Azule Energy Holdings Limited, which is a 50/50 JV between BP and Eni and one of the largest independent E&P groups in Sub-Saharan Africa by production with assets in Angola and Namibia, has mandated Citi, J.P. Morgan, Rand Merchant Bank, Standard Bank and Standard Chartered Bank as Joint Bookrunners, to arrange fixed income investor calls starting on [Monday, 12 January 2026]. A Global Investor Call will also take place at [2:00pm UK / 9:00am NY] on the same day.

A USD dual-tranche 5NC2 and 7NC3 benchmark size 144A/RegS senior unsecured notes offering will follow, subject to market conditions. The Notes are expected to be rated B2 by Moody’s and B+ by Fitch.

Standard Bank will be coordinating logistics.