Operational Update for Q4 and FY2025

Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together with its subsidiaries, the "Group"), an independent mixed-asset energy company with world-class gas processing facilities and export hub in north-west Kazakhstan, today announces its operational update for the year ended 31 December 2025 ("FY 2025") and provides production guidance for 2026. This update is being issued in advance of the release of Nostrum's audited consolidated accounts for the same period. The financial information disclosed in this announcement is unaudited and remains subject to the completion of Nostrum's year-end external audit.

Viktor Gladun, Chief Executive Officer of Nostrum Oil & Gas, commented:

"Nostrum remains dedicated to driving strategic growth through strong leadership while upholding the highest standards of health and safety.

2025 was a year of continued operational and strategic progress, achieved despite lower oil prices and natural decline at the mature Chinarevskoye Field. The business demonstrated resilience through reliable operations, disciplined capital management, and a 23.2% increase in average processed volumes, driven by the ramp‑up of third-party feedstock and stable plant performance. Together with the successful drilling and workover programme at Chinarevskoye, this resulted in higher titled production and sales volumes year-on-year. New well 116_1 was brought onstream at the end of November 2025 following the successful completion activities and is delivering production levels consistent with management's expectations.

During the year, we advanced planning for the Stepnoy Leopard development options while ensuring alignment with project objectives and regulatory requirements.

Looking ahead, Nostrum remains focused on maximising asset value, deepening strategic partnerships, restructuring debt maturing in June 2026, maintaining financial discipline, and delivering enduring benefits for shareholders, stakeholders and the people of Kazakhstan."

FY 2025 Highlights:

Operational

Production and sales

§ A 23.2% increase in average processed volumes (including third party condensate tolling volumes) to 24,431 boepd in FY 2025 (FY 2024: 19,831 boepd). A 12.9% increase in average daily titled production volumes (i.e. final products processed and owned by Nostrum) to 16,867 boepd in FY 2025 (FY 2024: 14,935 boepd). These increases were achieved through continuing to process the ramping up feedstock from Ural Oil & Gas LLP ("Ural O&G"), and managing expected decline in Chinarevskoye production through well workovers.

§ The titled production volume split was as follows:

*Stabilised condensate volumes exclude Ural O&G processed volumes for which Nostrum receives a fixed tolling fee

§ A 16.2% increase in average daily sales volumes to 15,146 boepd in FY 2025 (FY 2024: 13,038 boepd), reflecting higher titled production. The difference between titled production and sales volumes is primarily due to the internal consumption of dry gas produced and timing of product deliveries, which may lead to inventory increases or decreases at period end.

Chinarevskoye drilling and workover programme

The Company's Chinarevskoye limited-scale drilling programme for 2025 targeted most economic subsurface opportunities while also ensuring compliance with license obligations.

On 13 October 2025, the Company successfully completed drilling operations on the well 116_1. After completing perforation, stimulation and flowline tie-in, the well was put on production on 21 November 2025, achieving production rates in line with management's expectations. In parallel, during the year the Company continued to carry out optimised well workovers to minimise production decline and enhance operational efficiency.

A comprehensive review and assessment of potential well workovers and new drilling prospects is underway.

Stepnoy Leopard Fields

A comprehensive review of the overall development strategy for the Stepnoy Leopard Fields is underway, taking into account key factors such as project economics, infrastructure access, sales delivery points, compliance with regulatory requirements and licence commitments.

Processing of Ural O&G products

Throughout FY 2025, the Company continued processing raw gas and condensate volumes from Ural O&G, resulting in the increases in titled production and processed volumes. As announced on 21 March 2025, the Company signed a new agreement with Ural O&G, extending third-party hydrocarbon processing terms through May 2031, strengthening cash flows, supporting efficient plant operations, and facilitating cost-effective development of the Rozhkovskoye field.

Financial

• FY 2025 revenue is estimated to be approximately US$118 million (FY 2024: US$137.1 million). The increase in titled production and processed volumes from Ural O&G feedstock and continued well workover had a positive impact on revenues. However, this was offset by a natural production decline at the Chinarevskoye field (approximately 21% decrease in production) and a 13.2% decrease in the average Brent crude oil price (US$70.0/bbl in FY 2025 vs US$80.6/bbl in FY 2024).
• The unrestricted cash and cash equivalents balance as at 31 December 2025 was in excess of US$143 million (31 December 2024: US$150.4 million). The restricted cash balance (debt service retention account ("DSRA") and asset liquidation fund) was in excess of US$26 million as at 31 December 2025 (31 December 2024: US$25.9 million).
• In FY 2025, the Group generated a healthy net operating cashflow, before non-recurring items. After the limited capital expenditures on the Chinarevskoye and Stepnoy Leopard fields and one-off payments under the management incentive plan the Group's unrestricted cash and cash equivalents balance reduced by approximately US$7 million during FY 2025.
• The Group remains focused on maximising facility uptime with the annual plant maintenance completed earlier than planned, controlling costs wherever possible, and improving efficiencies across all facets of business. At the same time, we are committed to allocating and utilising resources efficiently to support our growth projects.

HSE and ESG

• Zero fatalities among employees and contractors during operations in 2025 (2024: zero).
• Total Recordable Incidents Rate (incidents per million man-hours) of 0.92 in 2025 (2024:0.63).
• Zero Lost Time Injury Rate (incidents per million man-hours) in 2025 (2024: zero).
• 4,048 tonnes of air emissions emitted in 2025 against 5,188 tonnes permitted for 2025 under the Kazakhstan Environmental Code.
• Safety of all staff and contractors, along with a commitment to sustainable operations, remains the Group's priority.

2026 production guidance

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2026 average daily production for the Chinarevskoye field is forecast at 5,000 - 6,000 boepd.

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Nostrum plans to release its annual report and audited financial statements in respect of the financial year ended 31 December 2025 on or around 29 April 2026.