Outcome of the Board meeting held on April 11, 2025

GULFPETRO's Board of Directors held a meeting on April 11, 2025, and approved entering into a Joint Venture Agreement with West Coast Oils LLP. The partners will acquire the share capital of an existing company to form the Joint Venture Company, with investments made through equity share capital and unsecured loans. The Board also granted authority to nominate representatives on the Board of the proposed Joint Venture Company and to execute the Share Purchase Agreement.

Reported results are the point at which prior management commitments become checkable against audited or reviewed numbers.

• Margin trend against the prior period
• Cash from operations against reported profit
• Whether prior guidance is reaffirmed