This announcement is made in compliance with Paragraph 6.0 of PN32 of the Main Market Listing Requirements which requires results of a report by a Competent Person to be announced.

Hibiscus Petroleum Berhad’s (“Hibiscus”) indirect wholly-owned subsidiary, Anasuria Hibiscus UK Limited (“AHUK”) had appointed Tetra Tech RPS Energy Limited (“RPS”) to undertake an independent evaluation of the Teal West Development in Licence No. P2535 Block 21/24d in the UK North Sea (“Teal West”) (“Competent Person’s Report”). Such Competent Person’s Report is intended to support the potential financing of the Teal West development as part of its capital initiative to optimise sources of funding and maintain standby lines of credit.

The Company is pleased to announce a summary of the Competent Person’s Report prepared by RPS, as contained in the attachment.

This announcement is dated 30 December 2024.