We refer to the announcements dated 2 June 2021, 4 June 2021, 9 June 2021, 23 June 2021, 2 July 2021, 14 July 2021, 12 November 2021, 8 December 2021, 10 December 2021, 13 December 2021 and 28 December 2021 in relation to the Proposed Acquisition.

On behalf of the Company, CIMB Investment Bank Berhad wishes to announce that Repsol Exploración, S.A. (“Repsol”) has informed Hibiscus Petroleum that it has received the joint approval of Petroliam Nasional Berhad and Vietnam Oil and Gas Group dated 19 January 2022 for the change of control of Repsol’s rights, interests and obligations through its affiliates under the Block PM3 CAA production sharing contract (“PSC”) and unitisation agreement of the East Bunga Kekwa – Cai Nuoc field under Block 46 PSC to Peninsula Hibiscus Sdn Bhd (“Peninsula Hibiscus”).

Following receipt of the joint approval, Repsol and Peninsula Hibiscus have also confirmed the fulfilment of all conditions precedent under the sale and purchase agreement dated 1 June 2021 (as referred to in Section 2.1 of Appendix I of the Circular dated 13 December 2021 for the Proposed Acquisition) and that the parties will now proceed to completion of the transaction accordingly.

Hibiscus Petroleum will make an announcement once the Proposed Acquisition has been completed.

This announcement is dated 20 January 2022.