The Board of Directors of Globaltec wishes to announce that its 70% subsidiary, NuEnergy Gas Limited ("NuEnergy"), a company listed on the Australian Securities Exchange ("ASX"), has announced a private placement to raise A$3.05 million through the issue of new ordinary shares in NuEnergy at an issue price of A$0.038 per placement share ("Placement").

The Placement shares will be accompanied by free options on the basis of one (1) option for every two (2) Placement shares, with each option having an exercise period of two (2) years, an exercise price of A$0.06 per option, and being exercisable into one (1) new ordinary share in NuEnergy.

Following completion of the Placement, Globaltec Group's equity interest in NuEnergy will be diluted marginally from 70% to 68%. NuEnergy will remain a subsidiary of Globaltec.

Rationale

The proceeds from the Placement are to primarily support the Company's growth, commencing with the Tanjung Enim production sharing contract ("PSC")'s (being one of NuEnergy's four PSCs) early gas sales initiative ("EGSI" or Phase 1) of 1 million standard cubic feet per day ("MMSCFD") followed by Phase 2 of 24 MMSCFD of gas production from its first approved plan of development ("POD") and moving its remaining 3 PSCs towards development. The funds will also be used for NuEnergy's working capital purposes.

With the above advancement in NuEnergy, Globaltec Group will be able to reap the future profits and cash flows from NuEnergy.

The Board of Globaltec is of the view that the Placement is in the best interests of NuEnergy and the larger Globaltec Group, and is supportive of NuEnergy's continued development of its business.

Percentage Ratios

Pursuant to Paragraph 10.02(g) of the Listing Requirements, the highest percentage ratio applicable to the Placement is 3.24%, which is constituted by the Placement proceeds to be received by NuEnergy, over the audited net assets of GFB Group as at 30 June 2025.

Financial Effects

The Placement is not expected to have any material effect on the earnings and net assets of Globaltec Group for the financial year ending 30 June 2027.

Interest of Directors, Major Shareholders And Persons Connected

None of the Directors, major shareholders of Globaltec or persons connected with them has any interest, direct or indirect, in the Placement.

Approvals

The Placement does not require the approval of the shareholders of the Company and NuEnergy. 

Further details are enclosed in the attached announcement made by NuEnergy.

This announcement is dated 7 September 2026.