NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("EUWA")) ("UK MAR").

15 October 2025

Sunda Energy Plc

("Sunda" or "Sunda Energy" or the "Company")

Equity Financing

and

Operational Update

Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, is pleased to announce a subscription (the "Subscription") with board members and senior management of the Company to raise £240,000 and a retail offer (the "WRAP Retail Offer"), to allow new and existing retail shareholders to participate, to raise up to £230,000. In total, the Subscription and the WRAP Retail Offer will raise gross proceeds of up to £470,000 (assuming the WRAP Retail Offer is taken up in full).

The net proceeds raised from the Subscription and WRAP Retail Offer (together the "Fundraising") will be used by the Company for general working capital purposes including ongoing preparations to drill in Timor-Leste and initial technical evaluation work on the two new Service Contracts awarded in the Philippines as announced by the Company on 8 October 2025.        

Subscription and WRAP Retail Offer

The Company has conditionally raised gross proceeds of £240,000 by way of the Subscription. The Subscription comprises the issue of 960,000,000 new Ordinary Shares (the "Subscription Shares") at a price of 0.025p per new Ordinary Share (the "Issue Price").  The Subscription has been taken up by the Directors and senior management. As part of the Subscription, the Company has agreed that one warrant will be granted for every two Subscription Shares, with each warrant entitling the holder to acquire one new Ordinary Share at a price of 0.0375p up to the third anniversary of the date of grant (the "Warrants").

The Subscription is conditional on the Subscription Shares being admitted to trading on AIM. Application will be made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM which is expected will take place at 8.00 am on 21 October 2025 ("Admission"). 

The Subscription Shares, and the new Ordinary Shares capable of being issued pursuant to the Warrants, will be issued on a non-pre-emptive basis pursuant to the authorities granted to the Board at the Company's annual general meeting held on 27 June 2025.

The table below sets out the number of Subscription Shares being acquired by the Directors and their interests in the issued share capital of the Company following completion of the Fundraising (assuming the Retail Offer is taken up in full):

¹ Indicative enlarged share capital following Admission in this context assumes full take-up under the WRAP Retail Offer.

In addition to the Subscription, it is proposed that there will be a separate conditional retail offer to both new and existing shareholders via the Winterflood Retail Access Platform ("WRAP") to raise up to approximately £230,000 at the Issue Price, to provide new and existing retail shareholders in the Company an opportunity to participate in the Fundraising on the same terms as those participating in the Subscription.

A separate announcement will be made shortly by the Company regarding the WRAP Retail Offer and its terms. Those investors who subscribe for new Ordinary Shares pursuant to the WRAP Retail Offer (the "WRAP Retail Offer Shares") will do so pursuant to the terms and conditions of the WRAP Retail Offer contained in that separate announcement. 

Operational update

Timor-Leste

The Company's wholly owned Timor-Leste subsidiary SundaGas Banda Unipessoal, Lda. ("SundaGas") continues to work on preparations for the drilling of the Chuditch-2 appraisal well, anticipated to commence during early Q2 2026.

In order to secure an appropriate drilling rig, SundaGas sought expressions of interest from companies that own and operate drilling rigs globally and has received responses from 7 contractors, covering 12 jack-up drilling rigs operating in the Asia-Pacific region. The Company has evaluated all responses and high-graded several proposals for further discussions and negotiations. A Contract Strategy has been submitted for approval to upstream regulator Autoridade Nacional do Petróleo ("ANP"). The Company considers that it is on track to sign a rig contract before the end of 2025. In the meantime, SundaGas continues to engage with the Timor-Leste helicopter company for support of the planned offshore drilling operations at Chuditch and believes that an appropriate and safe service is now going to be available for the planned drilling period. The Environmental Permitting process is progressing well and SundaGas anticipates award during Q4 2025.

In parallel, the Company is in close discussions with TIMOR GAP Chuditch Unipessoal Lda ("TIMOR GAP") concerning its support for funding of the Chuditch-2 well. These negotiations concern farm-in terms that closely resemble the farm-in agreement announced on 24 April 2025 and which was subsequently terminated with postponement of the drilling campaign. There can be no guarantee at this stage that these negotiations will result in binding terms being agreed between the parties nor can there be any certainty on the timing of any agreements being reached.

SundaGas is also engaged in renewed discussions with a number of potential investors concerning funding for its share of the costs of drilling in addition to the government support through TIMOR GAP. Whilst there is no certainty that these discussions will result in new funding partners, the Company is encouraged by the level of interest, which it considers is in part due to increased awareness of the emerging energy sector in Timor-Leste.

Philippines

As announced on 8 October 2025, the Company has been awarded non-operated interests in two Petroleum Service Contracts for offshore licence areas in the 1st Conventional Energy Bid Round of the Bangsamoro Autonomous Region of Muslim Mindanao in the Philippines. The successful licence awards are a direct result of the joint applications submitted by the bid group composed of Triangle Energy (Global) Limited (ASX: TEG, "Triangle"), Sunda Energy, PXP Energy Corporation (PSE: PXP) and The Philodrill Corporation (PSE.OV), with Triangle as the operator.

New Business Activities

Sunda Energy's other initiatives to expand and diversify its upstream portfolio are progressing well. Whilst there can be no certainty of entry into any new assets, the Company is encouraged by the quality of prospective opportunities. Further details will be provided as and when any new business initiatives are successfully concluded.

Dr Andy Butler, CEO of Sunda, commented:

"I believe we're on the cusp of exciting times, with the Chuditch project getting back on track with government support and renewed investor interest, with the award of two highly prospective non-operated assets in the Philippines and with the pursuit of material new ventures. The Fundraising announced today addresses short-term working capital requirements whilst we deliver on these projects and initiatives. I thank my fellow directors and team for their material contributions. The retail offer with accompanying warrants is intended as a means for both the Company's long-term supportive shareholders and prospective new retail shareholders to participate if they choose to in a reinvigorated Sunda Energy. I thank colleagues, partners and especially shareholders for their ongoing support."

-ENDS-

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