Trinidad tax appeals update

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

4 March 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

TRINIDAD TAX APPEALS UPDATE

Star Phoenix (AIM: STA), an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, advises that the ongoing tax appeal matters that the Company is involved in have been scheduled for hearing by the court in Trinidad for 9 March 2020. The Company will provide further details as and when appropriate.