INCREASED RECOMMENDED CASH OFFER for Capricorn Energy plc (“Capricorn”) by Genel Energy No.9 Limited

Genel Energy PLC, through its subsidiary Bidco, has increased its recommended cash offer for Capricorn Energy plc to US$5.74 per share, comprising US$4.75 in cash and a US$0.99 special dividend. This represents a significant premium to Capricorn's share price prior to the offer period and is superior to a competing offer from DNO Bidco AS. The total implied value for Capricorn is approximately US$436 million, or £330 million. Key regulatory conditions, including approval from the Egyptian Competition Authority, have been met, with only the Egyptian Condition remaining outstanding. Major shareholders have provided irrevocable undertakings supporting the increased offer, representing approximately 39.1% of Capricorn's share capital. The Capricorn Directors, advised that the terms are fair and reasonable, have withdrawn their recommendation for the DNO offer and now recommend Genel's increased offer. The transaction is expected to complete in the fourth quarter of 2026.