Reference is made to the announcements dated 22 December 2025 and 20 February 2026 in relation to the Contract for Engineering, Procurement, Construction for Gas Sweetening Plant, Separation Plant, Related Permanent Infrastructure and Provision of Gas Sweetening Services ("Earlier Announcements"). Unless otherwise defined herein, all expressions used in this announcement shall carry the same meanings as defined in the Earlier Announcements.

The Board of Directors of Coastal wishes to announce that on 24 March 2026 (Mexico time), the Consortium was notified by Pemex, via an official letter, that the formalisation of the trust account is now expected to be completed by 30 April 2026. Upon such formalisation, the parties will enter into an addendum to the Contract to amend the relevant clauses accordingly.   

Under the Contract, Pemex is required to establish a trust account to facilitate the payment of remuneration for the abovementioned works and services to CD, with the source of payment being the sales proceeds derived from marketable hydrocarbons produced from the Ixachi Field. The Effective Date of the Contract refers to the first business day immediately following the date on which Pemex has completed the establishment of the trust account.

The Company will make further announcements as and when there are any material updates or developments in relation to the Contract.

This announcement is dated 25 March 2026.