Restructuring update

Further to its announcement dated 11 September 2025, the Group is advancing discussions towards a binding agreement with SAMSUNG E&A and Saipem regarding their claims relating to the Thai Oil project.

As previously communicated, the Group is focused on completing the Restructuring in the shortest possible time and by the end of November 2025. It continues to advance more than one route to implement the Restructuring, each supporting the Group’s operational capability and ongoing delivery. These routes include those which may result in no residual value being retained by existing shareholders. The implementation route will be determined on the basis of input from funding parties and key creditors, such that it is not within the Company’s sole discretion.

The Company will continue to share further details as soon as appropriate to do so, in line with its disclosure obligations.