Upland Resources Limited
(LSE: UPL)
RNS Announcement
Date: 24^th October 2025

Execution of Binding Contracts - Vanguard Drilling Asset Acquisition

Upland Resources Limited ("Upland" or the "Company") is pleased to announce that it has executed binding contracts in relation to the acquisition of Vanguard Drilling Limited's ("Vanguard") proprietary intellectual property, advanced drilling management systems, and integration of select senior personnel.

The transaction, first announced on 1 October 2025, includes:

·      Acquisition of the Vanguard Business Management System (VBMS) and Mission Control Project Management Software;

·      Integration of select senior drilling specialists, engineers and project leaders from Vanguard into Upland's flagship projects, as required.

·      Appointment of Josh Galloway, Chief Executive Officer of Vanguard, as Head of Drilling Services to lead Upland Borneo Drilling Services (UBDS) under Upland Big Oil.

The execution of these contracts formalises Upland's enhanced operational capability, operator readiness, and scalability across Southeast Asia. UBDS will serve as a regional hub for both internal projects and third-party services, supporting Upland's growth strategy and licencing participation.

Chairman's Comment - Datuk Bolhassan Di:

"Signing these binding contracts marks a significant milestone for Upland. Engagement is already underway across Borneo, underscoring the Company's commitment to rapid and disciplined execution. These agreements further strengthen Upland's operational capabilities and position the Company to deliver projects to the highest international standards, while advancing our strategic objectives with confidence and momentum."

Further Information

Please see the link below outlining some of the Group capabilities

https://upland.energy/drilling-services/

For further information, please contact: