【ENEOS Xplora】Re-participation in Malaysia LNG Tiga Sdn. Bhd.

Our company, ENEOS Xplora, announces that we have agreed with PETROLIAM NASIONAL BERHAD (hereinafter "Petronas") to acquire 10% of the outstanding shares of Malaysia LNG Tiga Sdn. Bhd. (hereinafter "Tiga Sdn. Bhd."), a subsidiary of Petronas, and to re-participate*¹ in the LNG business operated by Tiga Sdn. Bhd.

Bintulu LNG Complex operated by Tiga Sdn. Bhd. and others (Photo courtesy of Petronas)

Tiga Sdn. Bhd. was established in 1995 as a joint venture between our company (then "当社") and Petronas, among others, with the objective of liquefying natural gas produced from fields such as the SK10 block located off the coast of Sarawak, Malaysia. Since the project's inception, our company has been responsible for LNG marketing support for Japan.

On April 1, 2026, the ENEOS Group transferred the natural gas liquefaction business and domestic sales business, which had been managed by ENEOS Corporation, to our company, which is responsible for the development and production of oil and natural gas. This has centralized the natural gas and LNG supply chain, from gas field development to domestic natural gas sales*².

In Malaysia, in addition to this re-participation in Tiga Sdn. Bhd., our company is conducting business activities through participation in the SK10 block project, which handles gas field development and production, and PETRONAS LNG 9 SDN. BHD. (hereinafter, PL9SB Sdn. Bhd.), which operates natural gas liquefaction. We will continue to strengthen the foundation of our natural gas and LNG business in cooperation with Petronas and the Sarawak State Government.

Globally, demand for natural gas and LNG is expected to expand, and its importance as a low-carbon energy source is also increasing. The ENEOS Group, in its 4th Mid-Term Management Plan, aims to expand its natural gas and LNG business through strategic investments, striving to ensure stable energy supply to Japan and other Asian countries.

*¹: Participated from 1995, but concession period expired in 2023.

*²: On April 1, 2026, the Group's natural gas business was integrated (announced on November 12, 2025).

Signing Ceremony

【Comment from Tan Sri Tengku Muhammad Taufik, President & Group CEO of Petronas】

"LNG plays an indispensable role in the global energy mix, meeting today's energy needs and supporting a steady transition to a low-carbon society. Asia is at the center of the world's LNG demand growth, and stable supply and long-term partnerships remain critical for the economic resilience of the entire region. The 30-year collaboration with ENEOS Group to date embodies such long-term conviction, and will continue to serve the national interests of both countries in the energy sector for decades to come."

【Comment from Datuk Adif Zulkifli, Senior Vice President of Petronas】

"ENEOS Group's re-participation in Tiga Sdn. Bhd. demonstrates both companies' confidence in the asset's sustained resilience and long-term role in the Asian LNG market. It also reinforces Petronas's commitment to building a reliable LNG system and continuously delivering value to customers and partners, especially focusing on key markets such as Japan."

【Comment from Our President (Yasuhiko Oshida)】

"Tiga Sdn. Bhd. has been a project that has stably supplied LNG to Japanese buyers since the start of its LNG plant operations in 2003, thanks to the cooperation between our group and Petronas. I am delighted to re-participate. We will further strengthen our partnership with Petronas and collaborate with shareholders such as the Sarawak State Government and Mitsubishi Corporation to create new value during this energy transition period."

End

Reference: About our natural gas liquefaction business in Malaysia

1. Tiga Sdn. Bhd.

Liquefaction plant location: Bintulu, Sarawak, Malaysia

Production started: March 2003

2. PL9SB Sdn. Bhd.

Liquefaction plant location: Bintulu, Sarawak, Malaysia

Production started: January 2017