NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

PRESS RELEASE

EnQuest PLC, 30 April 2026

SUCCESSFUL SETTLEMENT OF NEW BOND ISSUE

EnQuest PLC ("EnQuest" or the "Company") is pleased to announce the settlement of its offering of an aggregate principal amount of $675 million 9⅞% senior notes due 2031 (the "Notes") at 99.038%, with interest payable semi-annually. The Notes are senior obligations of the Company and are guaranteed by certain of the Company's subsidiaries.

The gross proceeds from the offering of the Notes will be used (i) to redeem in full the Company's $465.0 million aggregate principal amount of 11⅝% Senior Notes Due 2027, (ii) to further enhance liquidity via cash on balance sheet for general corporate purposes, which may be used to repay or refinance existing indebtedness (including but not limited to the Company's £133.3 million 9% Retail Notes due 2027 (the "Retail Notes")), and (iii) for payment of fees, costs, discounts and expenses in connection with the offering. The Company has given notice under the Retail Notes for a full redemption using cash on hand, which will include a portion of gross proceeds from the offering of the Notes.

For further information, please contact:

EnQuest PLC           
Tel: +44 (0)20 7925 4900

Jonathan Copus (Chief Financial Officer)

Craig Baxter (Head of Investor Relations and Corporate Affairs)

Cautionary Statements

This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. This press release also does not constitute an offer to purchase or the solicitation of an offer to purchase any security in the United States of America or any other jurisdiction. This announcement is not for public release, publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), except to "qualified institutional buyers" ("QIBs") as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"). This announcement does not constitute or form a part of any offer of, or solicitation to purchase or subscribe for, any securities in the United States. Any such securities have not been, and will not be, registered under the Securities Act. Any such securities may not be offered or sold in the United States, except that the securities may be offered for sale in the United States to QIBs in reliance on the exemption from registration under Rule 144A. No public offering of  securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.

This announcement is directed only at persons (i) outside the United Kingdom; (ii) that have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (iii) falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order or (iv) to whom this announcement may otherwise be directed without contravention of Section 21 of the Financial Services and Markets Act 2000 (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

In member states of the European Economic Area ("EEA"), this announcement is directed only at persons who are "qualified investors" under Regulation (EU) 2017/1129, as amended. In the United Kingdom, this announcement is directed only at persons who are a "qualified investor" as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024.

No EEA PRIIPs KID or UK PRIIPs KID/CCI product summary. No PRIIPs key information document (KID) or disclosure document required by the Financial Conduct Authority Product Disclosure Sourcebook has been prepared as not available to retail in the EEA or the United Kingdom.

MiFID II and UK MiFIR ‑ professionals/ECPs‑only - Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).

This press release may include projections and other "forward-looking" statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of the Company about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.