The Board of Directors of ENRA wishes to announce that Hexagon Energy Logistics Sdn Bhd ("HEXAGON"), an indirect wholly-owned subsidiary of ENRA, had on 7 September 2026 entered into a Pre-Joint Bidding Cooperation Agreement ("PJBCA") with China Offshore Engineering & Technology Co., Ltd ("CHINA OFFSHORE"). ENRA was notified of the signing of the PJBCA on 8 September 2026.
CHINA OFFSHORE is involved in the business of providing integrated solutions for oil and gas, decarbonisation, renewable energy, deepwater mining and other ocean resources.
The PJBCA with CHINA OFFSHORE reflects the parties' intention to work exclusively with one another for the purpose of the preparation and submission of a joint bid for an upcoming tender relating to the provision of a floating storage and offloading (FSO) solution within the Southeast Asia region ("Project").
The parties intend to negotiate in good faith regarding the specific scope of work, pricing, and responsibilities upon receipt of the official Project tender documents and to formalise such arrangements in a separate definitive agreement.
The PJBCA shall come into effect on the date of the execution and shall remain in effect until the execution of a definitive agreement between parties, cancellation of the Project, or mutual agreement to discontinue pursuit of the Project.
The PJBCA serves as a non-binding framework for cooperation on the Project and does not create financial obligations at this stage.
The risk factors involved in the PJBCA are expected to be minimal. In the event HEXAGON enters into a definitive agreement with CHINA OFFSHORE, the Board of Directors and Management will exercise due care in considering the associated risks and benefits.
The PJBCA is not expected to have any immediate material financial effect on the earnings, net assets, or gearing of ENRA Group for the financial year ending 31 March 2027.
None of the Directors and/or major shareholders of the Company and/or persons connected to them have any interest, direct or indirect, in the PJBCA.
The Board of Directors, upon considering all the relevant aspects of the PJBCA, is of the opinion that entering the PJBCA is in the best interest of the Company.
Any key development in relation to the PJBCA will be announced as required.
This announcement is dated 9 September 2026.