INTRODUCTION

Vantris Energy Berhad (formerly known as Sapura Energy Berhad) (“VTEB” or the “Company”) is pleased to announce that, Sapura Offshore Sdn. Bhd., an indirect wholly owned subsidiary of the Company, has been awarded two (2) Work Orders for the offshore transportation and installation (T&I) scope under existing Contract Provision of Transportation and Installation (T&I) of Offshore Facilities (RFP 000000036950) (“Contract”) in Malaysia from PETRONAS Carigali Sdn. Bhd. (“PETRONAS”) with a combined contract value of approximately RM1.4 billion.

Details of each Work Order are as summarized below:

1. Work Order No. 2025/003 (Rev 0) for Provision of Transportation and Installation (T&I) of Offshore Facilities for Sepat Integrated Redevelopment Project (“Work Order 1”)
2. Work Order No. 2025/004 (Rev 0) for Provision of Transportation and Installation (T&I) of Offshore Facilities for Belud South Greenfield Development Project (“Work Order 2”)

SALIENT CONTRACT TERMS

1. The new project under Work Order 1 will commence in first quarter of calendar year 2026 and expected to be completed by third quarter of calendar year 2029.
2. The new project under Work Order 2 will commence in first quarter of calendar year 2026 and expected to be completed by fourth quarter of calendar year 2027.

FINANCIAL EFFECTS

The Work Orders will not have any effect on the share capital and shareholding structure of the Company. The Work Orders however, are expected to contribute positively to the earnings for the financial years ending 31 January 2027 and beyond until the expiry of the Work Orders.   

RISK FACTORS

The risk factors associated with the Work Orders include changes in the economic and regulatory environment as well as operational risks such as execution risks which the Company will implement appropriate measures to manage and mitigate these risks, while maintaining its commitment to high standards of quality, health, safety, and environmental (QHSE) compliance.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any direct or indirect interest in the award of the Work Orders. 

DIRECTORS’ STATEMENT

The Board is of the opinion that acceptance of the Work Orders is in the best interest of the Company.

This announcement is dated 7 January 2026.