1.  INTRODUCTION

The Board of Directors of Perdana Petroleum Berhad (the “PPB” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Perdana Nautika Sdn Bhd (“PNSB”) has received a work order award from PETRONAS Carigali Sdn Bhd (“PCSB”) (the “Charterer”) on 17 February 2023 for the provision of Accommodation Work Barge (“AWB”) for Petronas Carigali Sdn Bhd (“Contract”).

2.  DETAILS OF THE CONTRACT

The Contract has commenced on 20 March 2023 (“Commencement Date”) and is for a duration of up to two hundred and twenty-nine (229) days from the Commencement Date.

PNSB shall provide 1-unit of AWB vessel with crews and equipment to perform a continuous service as per the scope of works agreed to assist PCSB’s project activities.

3.  FINANCIAL EFFECTS

The Contract is expected to contribute positively to the earnings and net assets of PPB Group for the financial year ending 31 December 2023. The Contract will not have effect on the share capital and shareholding structure of PPB.

4.  RISK FACTORS

The risks associated with the Contract are normal operational risks which can be mitigated through PPB Group's system of project management and internal business controls.

5.  DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and/or major shareholders or persons connected to them have any direct or indirect interest in the Contract.

6.  DIRECTORS' STATEMENT

The Board of Directors of PPB is of the opinion that the acceptance of the Contract is in the best interest of PPB.

The approval of the Charterer to release this announcement is required and the Company has on 27 March 2023 obtained the Charterer’s approval to release the same.

This announcement is dated 28 March 2023.