THIS IS AN ANNOUNCEMENT AND NOT A CIRCULAR OR PROSPECTUS AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION ON THE BASIS OF ITS CONTENTS. A COMBINED CIRCULAR AND PROSPECTUS IN RELATION TO THE PROPOSED ACQUISITIONS DESCRIBED IN THIS ANNOUNCEMENT WILL BE PUBLISHED IN DUE COURSE. FOR IMMEDIATE RELEASE

24 July 2026

EnQuest PLC

("EnQuest", "the Company" or "the Group")

Publication of combined Circular and Prospectus and Notice of General Meeting

Further to the announcement made on 10 June 2026 (the "FOA Announcement") and the update announcement made on 10 July 2026 regarding the pre-emption rights in relation to Package 2, EnQuest is pleased to announce that it has today, following receipt of approval from the Financial Conduct Authority (the "FCA"), published a combined prospectus and shareholder circular (the "Prospectus") in relation to the proposed acquisitions of participating interests in four production sharing contracts in Malaysia from PETRONAS CARIGALI SDN. BHD. ("CARIGALI") for a maximum total consideration of US$833 million, subject to the Approval Conditions set out in the FOA Announcement (together the "Proposed Acquisitions").

The Prospectus will be posted to shareholders today and is available to view on EnQuest's website at https://www.enquest.com/investors/shareholder-information/malaysia-acquisition. A copy of the Prospectus will be submitted to the National Storage Mechanism and will also be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A general meeting of EnQuest's shareholders will be held at 9.00a.m. on 11 August 2026 (the "General Meeting") to consider and approve the Proposed Acquisitions. Full details and joining instructions are set out in the Notice of the General Meeting contained in the Prospectus.

The Proposed Acquisitions, should they complete, will together constitute a reverse takeover for the purposes of the UK Listing Rules of the FCA (the "UKLRs"). In addition, the acquisition of Package 1 alone (regardless of whether the acquisitions of Package 2 or Package 3 complete) constitutes a reverse takeover under the UKLRs. Therefore, the admission of the entire issued share capital of EnQuest ("Ordinary Shares") to the Equity Shares (Commercial Companies) ("ESCC") category of the Official List of the FCA and to trading on London Stock Exchange plc's main market for listed securities (the "Main Market") will be cancelled following Completion of the acquisition of Package 1, regardless of whether the acquisitions of Package 2 and Package 3 are completed. Provided completion in respect of Package 1 occurs, the Ordinary Shares are expected to be subsequently re-admitted to the ESCC category of the Official List of the FCA and to trading on the Main Market (together, "Re-admission") at 8.00am on the business day following Completion, expected to be on or around 4 January 2027.

The Company is not offering any new Ordinary Shares nor any other securities in connection with the Proposed Acquisitions. Following Re-admission, the Ordinary Shares will continue to be registered with their existing ISIN of: GB00B635TG28 and the Company's ticker symbol will continue to be ENQ on the Main Market.

Unless otherwise defined, all definitions used in this announcement have the same meanings as described in the Company's FOA Announcement on 10 June 2026.

Contacts:

Notes to editors

EnQuest is unlocking value from energy assets. Responsibly. As an independent energy company with operations in the UK North Sea and across South East Asia, the EnQuest Group's strategic vision is to lead as a safe, efficient operator of mature and underinvested oil and gas assets; sustainably extending field lives and delivering superior value across the asset lifecycle, as part of a just energy transition.

EnQuest PLC trades on the London Stock Exchange.

Please visit our website www.EnQuest.com for more information on our global operations

Forward-looking statements: This announcement may contain certain forward-looking statements with respect to EnQuest's expectations and plans, strategy, management's objectives, future performance, production, reserves, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this announcement should be construed as a profit forecast or estimate and no statement in this announcement should be interpreted to mean that earnings, earnings per share or income, cash flow from operations or free cash flow for the EnQuest Group or the Enlarged Group, as appropriate, for the current or future years would necessarily match or exceed the amount set out in any forward-looking statement or historical published earnings, earnings per share or income, cash flow from operations or free cash flow for the EnQuest Group or the Enlarged Group, as appropriate. Past share performance cannot be relied upon as a guide to future performance.

Important Notices: Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company as Sponsor and no one else in connection with the Proposed Acquisitions and it will not regard any other person as a client in relation to the Proposed Acquisitions and neither Peel Hunt nor any of its affiliates (nor any of their partners, directors, officers, employees, advisers or agents) will be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Proposed Acquisitions or any other transaction, matter, or arrangement referred to in this announcement.

This announcement has been issued by, and is the sole responsibility of, the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability whatever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) is or will be accepted by Peel Hunt or any other advisers to the Company or by any of their respective affiliates, partners, directors, officers, employees, advisers or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

The statements contained in this announcement are made as at the date of this announcement, unless some other time is specified in relation to them, and publication of this announcement shall not give rise to any implication that there has been no change in the facts set forth in this announcement since such date.

The contents of this announcement are for information purposes only and are not to be construed as legal, business or tax advice. Each shareholder should consult its own legal adviser, financial adviser or tax adviser for legal, financial or tax advice, respectively.

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.