Crown Energy

Crown wishes hereby to confirm receipt of the instalment of USD 8 million last week in accordance with the terms of our Sale and Purchase Agreement of October 2021.

As per the Sale and Purchase Agreement for the disposal of the majority of its oil and gas
assets from October 2021, Crown Energy has now received in total USD 99 millions.

Another USD 81 million are due before the Agreement ends in October 2026.

Crown will not be press releasing these payments going forward as they are being made by our Buyer consistently in accordance with the terms of our Agreement. However, we will from now on update the market on all payments received by us as part of our quarterly reporting procedures.