Caspian Sunrise Regulatory News (CASP)

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Caspian Sunrise PLC ("Caspian Sunrise" or the "Group")

Re-issue of BNG Contract Area licences following significant tax concessions

Introduction

The Board of Caspian Sunrise is pleased to announce significant tax concessions at its flagship BNG Contract Area, necessitating the re-issue of the licences at the Airshagyl and Yelemes Deep structures.

Tax concessions

The Kazakh Ministry of Energy has confirmed significant tax concessions, to assist in the development of the BNG Contract Area's deep structures. Specifically, the Ministry of Energy has confirmed that Alternative Subsoil Use Tax will apply to production from the BNG Contract Area in lieu of Historic Cost, mineral extraction tax and excess profits tax. Furthermore, a temporary exemption from export customs duties on crude oil has been granted.

Re-issue of BNG Contract Area licences

The tax concessions noted above require new licences to be issued. Accordingly, the Ministry for Energy has issued new licences for both the Airshagyl and Yelemes Deep structures on the following bases.

Airshagyl

A three-year appraisal licence has been issued during which the Group must submit credible plans to develop the Airshagyl structure and during which additions to state confirmed reserves on the basis of additional drilling is permitted.

A requirement under the 25-year full production licence expected to be issued during the initial three-year period is for a minimum of two further deep wells on the Airshagyl structure to be drilled after the full production licence is issued.

Yelemes Deep

A two-year appraisal licence has been issued during which additions to state confirmed reserves on the basis of further drilling is permitted.

A requirement during the initial two year period to be eligible for the award of a full 25-year production licence is that three further deep wells each with an expected maximum depth of 5,000 meters are drilled.

Oil sales before the full production licences are issued

During the initial periods of the new Airshagyl and Yelemes Deep licences all production is to be sold on the domestic market and at domestic prices.

BNG Contract Area

The BNG Contract Area is only 40 km from the world class Tengiz field and the Board believes the geology there and also at the nearby world class offshore Kashagan field extends to the BNG Contract Area and beyond that to the Block 8 Contract Area, which is some 160 km further away from the BNG Contract Area and which the Group is in the final stages of acquiring.

The Group holds a 99% interest in the BNG Contract Area. Since 2008 more than $120 million has been spent at the BNG Contract Area, principally to meet the deep structures work programme commitments to be eligible to apply for the 25-year production licences referred to above.

Between 2019 and mid 2025 more than 4.5 million barrels of oil were produced from the shallow MJF and South Yelemes structures, which in July 2025 were sold for a headline cash consideration of $88 million.

Comment

Clive Carver, Chairman said

"The tax concessions are major steps forward for the Group and acknowledge the importance and potential of the BNG Contract Area, which the Board continues to believe is a potentially transformational asset."

Contacts:

This announcement has been posted to:

www.caspiansunrise.com/investors

Qualified Person

Mr. Sunjin Chang, a member of the Society of Petroleum Engineers, has reviewed and approved the technical disclosures in these financial statements.

The person responsible for arranging the release of this announcement on behalf of the Company is Clive Carver, Chairman of the Company.

This announcement has been posted to:

www.caspiansunrise.com/investors