This is to disclose at the Pakistan Stock Excahgne (PSX) by PPL that Sawan Joint Venture, comprising of UEP Beta (Operator with 25% working interest) along with Pakistan Petroleum Limited (30% working interest), PPL Europe E&P Limited (10% working interest), Prime AEP Limited (30% working interest) and Government Holdings (Private) Limited (5% working interest), has discovered hydrocarbon from its exploratory well Sawan North Deep-1 ST-1 (SND-1 ST-1), located in District Khairpur, Sindh Province.

The exploratory well SND-1 ST-1 was spud-in on 16th September 2024, and successfully drilled down to 14,017 feet MD (Measured Depth). The primary objective of the well was to explore and test the hydrocarbon potential of the Lower Goru Formation (A-Interval Sands). Based on wireline log interpretation and drilling results, post-completion testing was conducted inside identified promising intervals of A-sand, which yielded gas at the rate of approximately 0.30 MMscfd against Flowing Wellhead Pressure (FWHP) of ~100 psig at 128/64” choke.

This well represents the first of its kind in the Sawan area to be drilled using an exclusive sequence stratigraphic (trap) evaluation approach. This pioneering methodology has successfully led to a hydrocarbon discovery, validating the underlying geological concept and opening up new exploration horizons within the Sawan region.

The foregoing information is submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, for dissemination amongst your members.