Update on Audit and Change of Broker

13 March 2026

Pennpetro Energy Plc

("Pennpetro" or the "Company")

Update on Audit for 2024/25 accounts and Change of Broker

Pennpetro Energy plc, the company focused on developing strategic traditional and transition energy projects, is pleased to announce that it has received the audited 2024/25 full year accounts from the Company's auditor late this afternoon. Due to the timing of receipt of the audit report, the directors will review on Monday, next week.

Following review by the Board of Pennpetro, the Company expects to publish the audited 2024/25 full year accounts early next week. Once the audited accounts have been filed with Companies House, an Annual General Meeting will be announced.

The delay to the publishing of the audited 2024/25 full year accounts means that they will carry a reduced 'disclaimer of opinion' due to material improvements in data and supporting documentation, than was available at 27/2/26, this having been provided by the Company.

Change of Broker

In addition, Pennpetro has today appointed Oak Securities as Broker to the Company.

Details of shareholder call

The Company announces a shareholder call with management on 19 March 2026 at 18.30-19.30 UK time. To register for the meeting, please email [email protected].

Richard Spinks, Executive Chairman of Pennpetro Energy, said: "I know that shareholders have been eagerly awaiting the 2024/25 accounts, and as you know the Board and management have been working closely with the auditors to achieve this. We have taken additional time to gather information that would satisfy the auditors allowing them to remove certain disclaimers of opinion on the audit that we feel has measurably strengthened the quality and integrity of the audit and the good standing of the Company in turn."

For further information, contact: