INTRODUCTION

The Board of Directors of Perdana Petroleum Berhad (“PPB” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Perdana Nautika Sdn Bhd (“PNSB”) had on 9 December 2025 accepted a work order award (“WOA” or “Contract”) issued by Marine Creation Sdn Bhd (“Charterer”) for the provision of one (1) unit accommodation work barge vessel (“Vessel”).

DETAILS OF THE CONTRACT

The Contract, is tentatively scheduled to commence on 27 March 2026 (“Commencement Date”) for a duration of 60 days with an option to extend for another 15 days plus 15 days (“Charter Period”). The estimated contract value shall be in accordance with the WOA issued. In view of the confidentiality and privacy clauses of the Contract, the estimated contract value and the end-user’s name cannot be disclosed.  

PNSB shall provide the Vessel with crew and equipment to perform a continuous twenty-four (24) hours service for the purpose of assisting and/or servicing drilling rigs, offshore installations, derrick barges, towing and anchor job.

FINANCIAL EFFECTS

The WOA will not have any effect on the share capital and shareholding structure of PPB.

However, the WOA is expected to contribute positively to the earnings and net assets of PPB Group for the financial year ending 31 December 2026.

RISK FACTORS

The risks associated with the Contract is normal operational risks which can be mitigated through PPB Group's system of project management and internal business controls.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and/or major shareholders or persons connected to them have any direct or indirect interest in the Contract.

DIRECTORS' STATEMENT

The Board of Directors of PPB is of the opinion that the acceptance and execution of the WOA is in the best interest of PPB.

The WOA is not subject to the approval of the shareholders of the Company or any regulatory authorities. However, the approval of the Charterer to release this announcement is required and the Company has on 27 February 2026 obtained the Charterer’s approval to release the same.

This announcement is dated 27 February 2026.