Subject: OQ Exploration & Production Signs Amendment to Block 9 Exploration and Production Sharing Agreement

Subject: OQ Exploration & Production Signs Amendment to Block 9 Exploration and Production Sharing Agreement

On 22^nd June 2026, OQ Exploration & Production S.A.O.G. (“OQEP”) signed an amendment to the Exploration and Production Sharing Agreement (“EPSA”) attributable to the participating interests of partners in Block 9 in Ad Dhahirah Governorate with the Ministry of Energy and Minerals (“MEM”), Occidental Oman, and Mitsui E&P Middle East B.V. This milestone unlocks significant value, strengthens our reserves and financial excellences, as well as it supports Oman’s Vision 2040. This amendment is effective from 1 July 2026, following approval from the Ministry of Energy and Minerals.

Block 9 is a producing asset located in the north-west of the Sultanate of Oman and is operated by Occidental Petroleum, which holds a 50% participating interest. OQEP holds a 45% participating interest, while Mitsui E&P Middle East B.V. holds the remaining 5%. The EPSA is currently valid until 2030.

Under the terms of the amended EPSA, the Block 9 consortium is expected to increase activity levels within the block, including exploration and development drilling, with the objective of enhancing production and supporting future reserves growth.

This amendment supports OQEP’s strategy to maximize value from its producing assets, while fueling its growth strategy, enhancing our organic growth and reinforcing its position within Oman’s upstream oil and gas sector.

We thank the Government and our partners for their continued support, which has been key to advancing the investment in Block 9.

Best Regards,