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27 March, 2024

Board Changes

Board Changes

27 March 2024 – Singapore: Jadestone Energy plc (“Jadestone”, or the “Company”), an independent upstream company focused on the Asia-Pacific region, announces the following changes to its Board of Directors (the “Board”).

Dennis McShane has stepped down as an independent Non-Executive Director and Chair of the Board with immediate effect.

The Board has elected Adel Chaouch as Chair with immediate effect.

Adel Chaouch, Chair of Jadestone, commented:

“On behalf of the Board and Jadestone’s employees, I would like to thank Dennis for his dedicated service to the Company and leadership since 2017, and we wish him well in the future.

It is a great honour to be elected Chair of Jadestone at this pivotal time. The Company is poised to grow strongly this year on the back of first production from Akatara, demonstrating the value of its Asia-Pacific upstream growth strategy. I’m looking forward to working with all of Jadestone’s stakeholders to deliver the potential of our existing asset base and platform, and capitalise on growth opportunities in the region.”

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About Jadestone Energy

Jadestone Energy plc is an independent upstream company focused on the Asia-Pacific region.  It has a balanced and increasingly diversified portfolio of production and development assets in Australia, Malaysia, Indonesia, Thailand and Vietnam, all stable jurisdictions with a positive upstream investment climate.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman Energy’s business in Asia-Pacific, the Company is pursuing a strategy to grow and diversify the Company’s production base both organically, through developments such as Akatara in Indonesia and Nam Du/U Minh in Vietnam, as well as through acquisitions that fit within Jadestone’s financial framework and play to the Company’s strengths in managing maturing oil assets. Jadestone delivers value in its acquisition strategy by enhancing returns through operating efficiencies, cost reductions and increased production through further investment.

Jadestone is a responsible operator and well positioned for the energy transition through its increasing gas production, by maximising recovery from existing brownfield developments and through its Net Zero pledge on Scope 1 & 2 GHG emissions from operated assets by 2040. This strategy is aligned with the IEA Net Zero by 2050 scenario, which stresses the necessity of continued investment in existing upstream assets to avoid an energy crisis and meet demand for oil and gas through the energy transition.

Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market of the London Stock Exchange (AIM: JSE).  The Company is headquartered in Singapore.  For further information on the Company please visit www.jadestone-energy.com.

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2000.  Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

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