INTRODUCTION

Sapura Energy Berhad ("SEB" or "Company") ("Board") wishes to announce that the Company has on the following dates incorporated new subsidiary companies:

A) SAPURA GLOBAL SERVICES SDN BHD (“SGSSB”)

SGSSB was incorporated on 30 May 2019 under the Companies Act 2016 as a private company limited by shares with an issued share capital of RM2.00.  SGSSB is a wholly-owned subsidiary of SEB.

B) ROV TMT NIGERIA LIMITED (“ROV TMT”)

ROV TMT was incorporated on 20 March 2019 under the Federal Republic of Nigeria Companies and Allied Matters Act, 1990 as a company limited by shares with an issued share capital of ₦10,000,000 (ten million naira) divided into 10,000,000 ordinary shares of ₦1.00 each.  Total Marine Technology Pty Ltd (“TMTPL”) and its wholly-owned subsidiary, Sapura Babalon Pty Ltd, both incorporated in Australia hold 80% and 20% interests respectively in ROV TMT. TMTPL is a subsidiary of Sapura Energy Services Sdn Bhd, which in turn is a wholly-owned subsidiary of SEB.

C) SAPURA ENERGY VIETNAM LIMITED (“SE Vietnam”)

SE Vietnam was incorporated on 27 December 2018 under the Socialist Republic of Vietnam as a one member limited liability company with a chartered capital of 3,375,000,000 VND (equivalent to USD150,000). SE Vietnam is a wholly-owned subsidiary of Sapura Fabrication Sdn Bhd which in turn is wholly-owned by SEB.

FINANCIAL EFFECTS

The incorporation of the three companies mentioned above are not expected to have any material impact on the SEB group's earning and net assets for the financial year ending 31 January 2020.

DIRECTORS AND MAJOR SHAREHOLDERS' INTEREST

None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the above incorporations.

This announcement is dated 31 May 2019.