Update on the disposal of MJF & South Yelemes

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Caspian Sunrise PLC

("Caspian Sunrise" or the "Company" and together with its subsidiaries, the "Group")

Update on the disposal of the BNG shallow MJF & South Yelemes structures

On 20 November 2024 BNG Ltd LLP, the Group's wholly owned subsidiary, entered into a Sale & Purchase Agreement ("Agreement") with Absolute Resources LLP to sell the MJF and South Yelemes structures at the BNG Contract Area for a headline cash consideration of $88 million of which $14 million has already been received (the Disposal").

BNG Ltd LLP and Absolute Resources LLP continue to work towards completing the Disposal and have agreed to extend the 31 December 2024 Long Stop Date in the Agreement to 28 February 2025.

Further announcements in respect of the Disposal will be made in due course.

Contacts:

  James Bavister

  Andrew de Andrade

The person responsible for arranging the release of this announcement on behalf of the Company is Clive Carver, Chairman of the Company.

This announcement has been posted to:

www.caspiansunrise.com/investors