This announcement is made in compliance with Paragraph 6.0 of PN32 of the Main Market Listing Requirements which requires results of a report by a Competent Person.

Hibiscus Petroleum had appointed Tetra Tech RPS Energy Limited ("TTRPSE") to undertake an independent evaluation on the PKNB cluster PSC, comprising four discovered gas fields - Pertang, Kenarong, Noring and Bedong ("PKNB"), located in shallow waters offshore the east coast of Peninsular Malaysia ("Competent Person's Report"). Hibiscus Oil & Gas Malaysia Limited, an indirect wholly-owned subsidiary of Hibiscus Petroleum, holds 65% participating interests in the PKNB Cluster PSC and is the operator of the PKNB Cluster.

The Competent Person's Report was updated to reflect the latest development outlook and to support potential financing initiatives, as part of the Group's ongoing efforts to optimise its sources of funding and maintain financial flexibility.

The Company is pleased to announce a summary of the Competent Person's Report prepared by TTRPSE, as contained in the attachment.

This announcement is dated 28 August 2026.