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For immediate release

Energean plc

("Energean" or the "Company")

Update on the proposed acquisition of interests in Block 14 and Block 14K, offshore Angola

London, 3 June 2026 - Energean plc (LSE: ENOG, TASE: אנאג) provides an update on the proposed acquisition from Chevron of a 31% operated interest in Block 14 and a 15.5% non-operated interest in Block 14K, offshore Angola, announced on 12 March 2026 (the "Transaction"). The Company has been informed by the seller, Chevron, that it has received notice from one of the joint venture partners, Etu Energias, purporting to exercise its pre-emption rights in relation to the Transaction.

The sale and purchase agreement entered into between Energean and Chevron remains in effect until: (i) the relevant pre-emption right is determined to have been validly exercised and executed; and (ii) a new sale and purchase agreement between Chevron and Etu Energias has been executed and completed.

The Company notes that any assignment to Etu Energias must be made on the same or equivalent terms as the sale and purchase agreement between Energean and Chevron. This includes the condition precedent requiring the buyer to deliver evidence to the seller that it is a proven deepwater oil and gas operator of at least one existing deepwater producing asset in water depths greater than 300 metres, both within 15 days after signing and as at the unconditional date.

The Company will provide further updates as and when appropriate.

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Forward looking statements

This announcement contains statements that are, or are deemed to be, forward-looking statements. In some instances, forward-looking statements can be identified by the use of terms such as "projects", "forecasts", "on track", "anticipates", "expects", "believes", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results and events to differ materially from those expressed in or implied by such forward-looking statements, including, but not limited to: general economic and business conditions; demand for the Company's products and services; competitive factors in the industries in which the Company operates; exchange rate fluctuations; legislative, fiscal and regulatory developments; political risks; terrorism, acts of war and pandemics; changes in law and legal interpretations; and the impact of technological change. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward looking statements, whether as a result of new information, future events or otherwise. The information contained in this announcement is subject to change without notice.

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