Pre-emption outcome

THIS IS AN ANNOUNCEMENT AND NOT A CIRCULAR OR PROSPECTUS AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION ON THE BASIS OF ITS CONTENTS. A COMBINED CIRCULAR AND PROSPECTUS IN RELATION TO THE PROPOSED ACQUISITIONS DESCRIBED IN THIS ANNOUNCEMENT WILL BE PUBLISHED IN DUE COURSE.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

EnQuest PLC

("EnQuest", "the Company" or "the Group")

Update on Significant Acquisition in Malaysia

Further to the announcement made on 10 June 2026 (the "FOA Announcement"), EnQuest is pleased to confirm that, following the signing of three separate conditional farm‑out agreements with PETRONAS CARIGALI SDN. BHD. ("CARIGALI") and E&P Malaysia Venture Sdn. Bhd. ("EPMV") (as applicable), confirmation has been received that the existing PSC partners have waived their rights of pre-emption in relation to Package 2. Package 1 and Package 3 were not subject to any pre-emption rights.

As a result, and subject to satisfaction of the Completion conditions outlined in the FOA Announcement, the Company will acquire the entirety of the Participating Interests being: i) a 90% operated participating interest in Balingian PSC and 100% operated participating interest in SK8 PSC (Package 1); ii) a 50% operated participating interest in D35-D21-J4 PSC (Package 2); and iii) a 30% non-operated participating interest in PM6-12 PSC (Package 3).

Further information relating to the Proposed Acquisitions will be included in the combined shareholder circular and prospectus, which are expected to be published in due course. The Company will make a further announcement upon publication.

Completion of the Proposed Acquisitions is anticipated, subject to the satisfaction of certain customary completion conditions, to be on 31 December 2026.

Unless otherwise defined, all definitions used in this announcement have the same meanings as described in the Company's FOA Announcement on 10 June 2026.

The Proposed Acquisitions together constitute a reverse takeover for the purposes of the UKLRs and are therefore notifiable in accordance with UKLR 7.5.1R(1). In addition, the acquisition of Package 1 alone (regardless of whether the acquisitions of Package 2 or Package 3 complete) constitutes a reverse takeover under the UKLRs. Pursuant to UKLR 7.5.1R(2), the Prospectus in connection with the Proposed Acquisitions will be published in due course. Peel Hunt LLP is acting as the Company's sponsor and Ashurst LLP is acting as the Company's legal counsel in connection with the publication of the Prospectus.