Reference is made to the earlier announcements dated 7 January 2026, 27 February 2026 and 22 May 2026.

Hibiscus Petroleum wishes to announce that the Teal West field, located in Licence P.2535, Block 21/24d in the United Kingdom ("UK") North Sea, successfully achieved first oil on 4 July 2026.

The initial oil production rate following first oil of approximately 6,000 barrels per day ("bbl/day") was achieved as part of a controlled start-up procedure and is within the expected initial production range of 4,000 bbl/day to 10,000 bbl/day. The oil production rate is expected to progressively increase upon the achievement of stable operating conditions after well optimisation.

Teal West is expected to contribute additional production volumes to the Group's UK business segment and support the North Sea Transition Authority's objective of maximising economic recovery from the UK Continental Shelf.

Hibiscus Petroleum holds a 100% interest in the Teal West field.

Further information will be provided when the Company releases its first quarter results at the end of August 2026.

This announcement is dated 6 July 2026.