The Board of Directors of Deleum (“Board”) wishes to announce that Deleum Oilfield Solutions (Thailand) Co., Ltd. (“DOST”), an indirect subsidiary of Deleum, has on 16 June 2025 entered into a Sale and Purchase Agreement (“SPA”) with MPC Future Co., Ltd. (“MPC”), for the acquisition of the Target Business (as defined below) from MPC subject to the terms of the SPA (collectively, “Proposed Transaction”). The Proposed Transaction is for an aggregate consideration payable by DOST to MPC with a Thai Baht (“THB”) value equivalent to RM60,000,000 (“Purchase Consideration”) comprising of:

1. the issuance of newly issued and fully paid-up ordinary shares in the share capital of DOST valued at THB164,800,000 representing approximately 28.57% of DOST’s total paid-up share capital pursuant to the Share Subscription Agreement (“SSA”);
2. the issuance of preference shares in DOST valued at THB114,000,000 representing approximately 19.76% of DOST’s total paid-up share capital pursuant to the SSA ((a) and (b) shall collectively be referred to as “Share Consideration”); and
3. a cash payment in THB with a value equivalent to the aggregate consideration deducted by the Ringgit Malaysia-equivalent of the Share Consideration (“Cash Consideration”).

Please refer to the attachment for further details.

This announcement is dated 16 June 2025.