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African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) and its subsidiaries (the “Group”) announced its results for the three months ended 31 March 2026. The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment.

The Group continued to expand its lending activities in Q1 2026, resulting in total credit exposure growing by 2% to reach a portfolio of US$42 billion, up from US$41 billion as of 31 December 2025. This performance reflects Afreximbank's leading role as a Development Finance Institution (DFI) in financing trade and trade-enabling infrastructure, and its strategic contribution to economic resilience across Africa and the Caribbean.

Average loans and advances for Q1 2026 stood at US$32 billion, up 8% compared to the same period in the prior year, driving the recorded growth in interest income. The Group's liquidity position remained strong, with cash and cash equivalents of US$5.6 billion, representing 14% of total assets, consistent with FY2025 and above the Bank's strategic minimum.

Asset quality also remained strong, with the non-performing loan (NPL) ratio at 2.40%, broadly in line with 2.43% at FY2025 and below industry average.

Shareholders' funds increased to US$8.6 billion at 31 March 2026, up from US$8.4 billion at FY2025, supported by internally generated capital of US$268.9 million and new equity investments received during the quarter, underscoring the Bank's continued ability to mobilise capital from its shareholders in support of its growth and development mandate.

The Group delivered strong profitability during the quarter.  Notwithstanding declining benchmark rates, total interest income rose by 14% year-on-year to reach US$813.6 million, while net interest income increased by 24% to US$510.0 million, compared with US$411.2 million in the first quarter of 2025. The Group's cost-to-income ratio remained contained at 19%, well within the Group's strategic ceiling of 30%. As a result, Profit for the period increased to US$268.9 million, up from US$215.4 million in Q1 2025.

The Group continued to maintain a strong capital position, with a capital adequacy ratio of 23% as at 31 March 2026, in line with the Bank's long-term capital management targets.

During the quarter, Afreximbank continued to demonstrate its counter-cyclical role in response to external shocks. In March 2026, the Bank launched a US$10 billion Gulf Crisis Response Programme to help member countries mitigate adverse spillover effects from the Gulf crisis. The facility is designed to support liquidity, stabilise trade and payments, and address supply-side disruptions, particularly in energy, tourism and aviation, fertilisers, food and other critical imports.

The Bank also continued to deploy targeted financing and advisory support to strengthen trade flows, industrial capacity and economic resilience across Africa and CARICOM. Regional integration received further momentum following South Africa's ratification of the Bank's Establishment Agreement in February 2026, bringing one of Africa's largest and most diversified economies into the Bank's membership and giving the Bank full continental coverage.

Highlights of the results for Afreximbank Group are shown below:

Financial Performance Metrics	Q1'2026	Q1'2025
Gross Income (US$ million)	874.1	784.9
Net Income (US$ million)	268.9	215.4
Return on average equity (ROAE)	13%	12%
Return on average assets (ROAA)	2.62%	2.38%
Cost-to-income ratio	19%	16%

Financial Position Metrics	Q1'2026	FY'2025
Total Assets (US$ billion)	41.7	42.3
Total Liabilities (US$ billion)	33.0	33.9
Shareholders' Funds (US$ billion)	8.6	8.4
Non-performing loans ratio (NPL)	2.40%	2.43%
Cash/Total assets	14%	14%
Capital Adequacy ratio (Basel II)	23%	23%

Mr. Denys Denya, Afreximbank's Senior Executive Vice President, commented:

“Against a backdrop of continued global uncertainty, heightened geopolitical risks and tight financial conditions, the Group delivered a resilient first-quarter performance, underpinned by disciplined balance sheet management, sound asset quality and strong capital and liquidity buffers. The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate. Our swift launch of the US$10 billion Gulf Crisis Response Programme further underscores Afreximbank's counter-cyclical role in supporting member countries during periods of disruption. We remain focused on stabilising trade flows, easing liquidity pressures and advancing the industrial and economic transformation of Africa and the Caribbean.”

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A strong supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2025, Afreximbank's total assets and contingencies stood at over US$48.5 billion, and its shareholder funds amounted to US$8.4 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), and Moody's (Baa2). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

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The upcoming ARPEL Conference—organized by the Association of Oil, Gas and Renewable Energy Companies of Latin America and the Caribbean taking place on June 1- 4 in Buenos Aires will serve as a primary catalyst for building a new cross-Atlantic energy corridor. Convening regional stakeholders and energy leaders from South America and the Caribbean, the event offers a strategic platform to advance South American commercial interests in Africa, opening doors for institutional technology transfer, cross-continental investment, and shared operational experiences. Centering this narrative at the summit, the African Energy Chamber (AEC) (https://EnergyChamber.org) will lead a delegation to Buenos Aires, with Executive Chairman NJ Ayuk scheduled to brief regional operators on the expanding scope of bilateral market entries.

Ayuk's participation comes as Africa enters one of its most active upstream investment cycles in over a decade. The continent is expected to see upstream capital expenditure of approximately $41 billion in 2026, while licensing rounds and new market entry opportunities continue to expand across Angola, Nigeria, Tanzania, Algeria, Sierra Leone and Equatorial Guinea. Emerging markets such as Namibia have already witnessed 60% exploration success in recent years, while new discoveries made in Ivory Coast and expanded drilling activities both onshore and offshore unlock pathways for commercial developments. Companies that establish themselves as early-movers stand to capture this value, highlighting a unique opportunity for South American companies, particularly those with proven frontier experience.

Perhaps one of the most strategic partnership avenues is the natural gas sector. For its part, Africa is rapidly positioning itself as one of the world's next LNG hubs, with companies moving to unlock resources in proven - yet undeveloped - margins. Up to 140 trillion cubic feet (tcf) of discovered yet undeveloped resources lie in the Mozambique's Rovuma (129 tcf) and Nigeria's Niger Delta (113 tcf) alone, highlighting the scale of opportunity across the continent. Africa already supplies 8.5% of global LNG, but with global geopolitical events tightening global supply chains, this figure is expected to quadruple by 2050.

Another growth frontier is Africa's shale gas market. While the continent possesses some of the world's largest untapped shale resources, many countries continue to face operational and technical barriers to commercialization. Algeria alone holds more than 700 tcf of un-risked shale gas resources, while countries such as South Africa and Tanzania are evaluating tight gas and shale opportunities of their own.

South America's expertise in gas production positions it as a key partner for Africa. Argentina's development of the Vaca Muerta shale formation - accounting for 70% of its gas production - has established operational expertise in horizontal drilling, hydraulic fracturing, completion design, supply chain optimization and unconventional regulatory management – capabilities many African markets are actively seeking. The country is currently one of the gas biggest producers in the region, with production corresponding to 4.5 billion cubic feet per day (bcf/d), alongside Brazil which currently produces 5.4 bcf/d - primarily from associated oil projects. Other markets such as Trinidad and Tobago and Venezuela offer proven experience in LNG, cross-border energy infrastructure and export facilities.  

“The Atlantic is no longer a barrier; it is a commercial corridor. No nation in the Southern Hemisphere is better positioned to partner with Africa on unconventional energy development than Argentina. By exporting the hard-won expertise of Vaca Muerta, South American firms can capture early-stage value in Africa's newest frontier basins,” says Ayuk.

These factors underscore South America's value as a strategic partner for Africa, making a strong case for cross-Atlantic technology transfer, shared value chains and investments. The same technology that has been at the core of South America's gas market are already operating in Africa. Notably, Golar LNG is advancing a multi-billion-dollar project in the Vaca Muerta shale formation, securing a two-decade-long charter for its FLNG unit last year. In Africa, the company pioneered FLNG solutions in Cameroon while supporting Senegal and Mauritania emergence as LNG producers through its Gimi vessel. 

As such, operational knowledge associated with FLNG infrastructure, offshore gas processing and midstream monetization is increasingly becoming a strategic advantage for companies seeking entry into African markets. The upcoming ARPEL Conference marks a strategic turning point for both South American, the Caribbean and Africa, laying the foundation for a South Atlantic energy revival while enabling two of the world's biggest frontier regions the chance to examine world-class resources, similar development challenges and shared interest in ensuring energy revenues translate into lasting economic growth.  

Distributed by APO Group on behalf of African Energy Chamber.