Notice Received Under SPA with Woodside Energy

Capricorn Energy PLC announces that, on 14 November 2023, it received notification that Woodside Energy ("Woodside") had received a notice from the Senegalese Tax Authority. The notice from the Senegalese Tax Authority states that:

• Senegalese registration duty (US$28.2m including interest and penalties) should have been paid on the transfer (in December 2020) by Capricorn to Woodside of its PSC interests offshore Senegal, and
• Senegalese real estate capital gains tax (US$14.5m including interest and penalties) should have been withheld by Woodside from the price paid to Capricorn in respect of the sale of those PSC interests.