The Warrants D are issued to the entitled shareholders of Borneo Oil Berhad ("Bornoil") pursuant to the bonus issue of up to 528,085,453 new Warrants D on the basis of one (1) free Warrant D for every eight (8) existing ordinary shares in Bornoil ("Bornoil Share(s)") held as at 5.00 p.m. on 26 May 2017 ("Bonus Issue of Warrants").

Each Warrant D carries the entitlement to subscribe for one (1) new Bornoil Share at the exercise price of RM0.07 and at any time during the exercise period of ten (10) years as indicated above ("Exercise Period") commencing from and including the issue date and ending at 5.00 p.m. on the expiry date (provided that if such a day is not a market day, then it shall be the market day immediately preceding the said non-market day). The Warrants D are subject to the adjustments in accordance with the provisions of the deed poll dated 30 May 2017, constituting the Warrants D. Any Warrants D not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose.