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FOR IMMEDIATE RELEASE

London, 31 October 2025

Operational Update for the third quarter and nine months ended 30 September 2025

Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together with its subsidiaries, the "Group"), an independent mixed-asset energy company with world-class gas processing facilities and export hub in north-west Kazakhstan, today announces its operational update for the third quarter and nine months ended 30 September 2025.

Viktor Gladun, Chief Executive Officer of Nostrum Oil & Gas, commented:

"Nostrum continues on path of reinforcing its commitment to robust leadership and strategic growth. In this context, I am pleased to welcome Nikolay Ivin as the new Chairman of the Board, bringing extensive corporate finance experience across emerging markets, and James Hart as an independent non-executive director.

During the first nine months of 2025, Nostrum delivered strong operational results despite a challenging environment marked by lower oil prices and the natural decline of our mature Chinarevskoye field. Total processed volumes during the first three quarters increased by 33% compared to the same period of 2024, which was mainly driven by the ramp‑up of third-party feedstock. These results underscore our reliability and efficiency both as an operator and a business partner.

We are continuing a thorough analysis of various development scenarios of our Stepnoy Leopard asset, while advancing a well-structured workover and drilling programme at the Chinarevskoye field in line with our licence obligations. Alongside our continued focus on cost efficiency and disciplined capital deployment, these initiatives aim to create sustainable, long-term value for our shareholders, stakeholders, and the people of Kazakhstan."

9M 2025 Highlights:

Operational

·      Production and sales

·      A 33% increase in average processed volumes (including third party condensate tolling volumes) to 23,596 boepd in 9M 2025 (9M 2024: 17,748 boepd). An 18.5% increase in average daily titled production volumes (i.e. final products processed and owned by Nostrum) to 16,300 boepd in 9M 2025 (9M 2024: 13,758 boepd). These increases were achieved through continuing to process the ramping up feedstock from Ural Oil & Gas LLP ("Ural O&G"), and managing expected decline in Chinarevskoye production through well workovers.

·      The titled production volume split was as follows:

*Stabilised condensate volumes exclude Ural O&G processed volumes for which Nostrum receives a fixed tolling fee

·      A 19.9% increase in average daily sales volumes to 14,339 boepd in 9M 2025 (9M 2024: 11,956 boepd), reflecting the increase in titled production. The difference between titled production and sales volumes is primarily due to the internal consumption of dry gas produced and timing of product deliveries, which may lead to inventory increases or decreases at period end.

·      Chinarevskoye drilling  and workover programme

The Company's Chinarevskoye limited-scale drilling programme for 2025 targets most economic subsurface opportunities while also ensuring compliance with license obligations. On 13 October 2025, the Company successfully completed drilling operations on the well No.116_1, which is followed by well completion and testing over the following four to six weeks. In parallel, the Company continues to carry out optimised well workovers to minimise production decline and enhance operational efficiency.

·      Stepnoy Leopard Fields

In April 2025, the Company received formal approval from Kazakhstan's Ministry of Energy for a phased Full-Field Development Plan (FDP) for the Stepnoy Leopard Fields. The Company is actively progressing with detailed design and engineering activities, alongside selective procurement, to ensure compliance with license commitments. Key development projects, including the pipeline to Chinarevskoye and the sour gas treatment infrastructure, are currently undergoing rigorous review to ensure alignment with project objectives and regulatory requirements.

·      Processing of Ural O&G products

Throughout 9M 2025, the Company continued processing raw gas and condensate volumes from Ural O&G, resulting in the increases in titled production and processed volumes. On 8 October 2025, processing volumes from Ural Oil & Gas achieved a record high. As announced on 21 March 2025, the Company signed a new agreement with Ural Oil & Gas, extending third-party hydrocarbon processing terms through May 2031, strengthening cash flows, supporting efficient plant operations, and facilitating cost-effective development of the Rozhkovskoye field.

Financial

·      9M 2025 revenue is estimated to be approximately US$85.5 million (9M 2024: US$101.4 million). The increase in titled production and processed volumes from Ural O&G feedstock and a continued well workover had a positive impact on revenues. However, this was offset by a less favorable product mix of higher-value oil and stabilized condensate products, along with a natural decline in production at the Chinarevskoye field and a 14% decrease in the average Brent crude oil price (US$70.95/bbl in 9M 2025 vs US$82.6/bbl in 9M 2024).

·      The unrestricted cash and cash equivalents balance as at 30 September 2025 was in excess of US$147.3 million (30 June 2025: US$135.9 million, 31 December 2024: US$150.4 million). The restricted cash balance (debt service retention account ("DSRA") and asset liquidation fund) was in excess of US$26.2 million as at 30 September 2025 (30 June 2025: US$26.1 million, 31 December 2024: US$25.9 million).

·      In 9M 2025, the Group generated a positive net operating cashflow of approximately US$21.8 million before one-off items. After the limited capital expenditures on the Chinarevskoye and Stepnoy Leopard fields and one-off payments under the management incentive plan the Group's unrestricted cash and cash equivalents balance reduced by approximately US$3.0 million during 9M 2025.

·      The Group remains focused on maximising facility uptime with the annual plant maintenance completed earlier than planned, controlling costs wherever possible, and improving efficiencies across all facets of business. At the same time, we are committed to allocating and utilising resources efficiently to support our growth projects.

HSE and ESG

·      Zero fatalities among employees and contractors during operations in 9M 2025 (9M 2024: zero).

·      Total Recordable Incidents Rate (incidents per million man-hours) of 0.81 in 9M 2025 (9M 2024:0.84).

·      Zero Lost Time Injury Rate (incidents per million man-hours) in 9M 2025 (9M 2024: zero).

·      3,087 tonnes of air emissions emitted in 9M 2025 against 5,188 tonnes permitted for 2025 under the Kazakhstan Environmental Code.

·      Safety of all staff and contractors, along with a commitment to sustainable operations, remains the Group's priority.

Release of Nostrum's 9M 2025 Financial Results

Nostrum plans to release its unaudited interim condensed consolidated accounts for the period ending 30 September 2025 on or around 25 November 2025.

LEI: 2138007VWEP4MM3J8B29

Further information

For further information please visit www.nostrumoilandgas.com

Further enquiries

Nostrum Oil & Gas PLC                                                

Elena Zhuravleva

Chief Financial Officer

ir@nog.co.uk                                                                                                     

Instinctif Partners - UK                                                                                        

Galyna Kulachek

+ 44 (0) 207 457 2020

nostrum@instinctif.com

Notifying person

Thomas Hartnett

Company Secretary

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent mixed-asset energy company with world-class gas processing facilities and export hub in north-west Kazakhstan. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field which is operated by its wholly-owned subsidiary Zhaikmunai LLP, which is the sole holder of the subsoil use rights with respect to the development of the Chinarevskoye field. The Company also owns an 80% interest in Positiv Invest LLP, which holds the subsoil use rights for the "Kamenskoe" and "Kamensko-Teplovsko-Tokarevskoe" areas in the West Kazakhstan region (the Stepnoy Leopard fields).

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers with respect to various matters. When used in this document, the words "expects", "believes", "anticipates", "plans", "may", "will", "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises nor guarantees and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the relevant listing rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.