RECOMMENDED CASH ACQUISITION of Capricorn Energy plc by Genel Energy No.9 Limited

Genel Energy plc, through its subsidiary Bidco, has announced a recommended cash acquisition of Capricorn Energy plc for US$4.74 per share, comprising US$3.75 in cash and a US$0.99 special dividend, valuing Capricorn at approximately US$360 million. This offer represents a significant premium of 34% to Capricorn's closing price on March 10, 2026. The acquisition, structured as a scheme of arrangement, is expected to close in the second half of 2026 and aims to create a larger, more diversified MENA-focused exploration and production company by combining Genel's Kurdistan assets with Capricorn's Egyptian portfolio. The Capricorn Board unanimously recommends the offer to its shareholders.