KrisEnergy : Approval of Extension Applications to comply with Rules 705(2) and 707(1) of the Listing Manual

Approval of the Extension Applications to comply with Rules 705(2) and 707(1) of the Listing Manual

Singapore, 15 April 2021 - The Board of Directors ("Board") of KrisEnergy Ltd. ("Company, and together with its subsidiaries, the "Group") refers to its announcement dated 1 April 2021 in relation to the Company's application for an extension of time to (a) hold the annual general meeting ("AGM") for the financial year ended 31 December 2020 ("FY2020") from the previous deadline of 30 April 2021 to 29 June 2021 and the consequential extension of time for the issue of the Company's annual report for FY2020 ("AR2020") (including the FY2020 audited financial statements) from the previous deadline of 15 April 2021 to 15 June 2021 and (b) to announce the Company's unaudited financial statements for the first quarter ended 31 March 2021 ("1Q2021 Financial Statements") from the previous deadline of 14 May 2021 to 30 June 2021 (the "Announcement").

Unless defined otherwise, all capitalised terms used but not defined herein shall have the meanings ascribed to them in the Announcement.

Approval of the Extension Applications

1. The Board wishes to announce that the SGX-ST has, on 15 April 2021, confirmed that based on the Company's submission and representations to SGX-ST, that SGX-ST has no objection to the waiver with regards to compliance with Rules 705(2) and 707(1) of the Mainboard Rules of the SGX-ST ("Waiver"), subject to the following conditions:

1. the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Mainboard Listing Rule 107 and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met;
2. the Company convening the FY2020 AGM by 29 June 2021; and
3. submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company (for the 1Q2021 Financial Statements waiver),

(collectively the "Waiver Conditions").

1. The reasons for seeking the Waiver have been set out in the Announcement and, as part of the Company's application to the SGX-ST, the Company had, on 1 April 2021, submitted a written confirmation to the SGX-ST that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company. Accordingly, save for the convening of the FY2020 AGM by 29 June 2021, the Company confirms the fulfilment of the Waiver Conditions.
2. The Extension Applications do not contravene any laws and regulations governing the Company and the constitutional documents of the Company as under the laws of the Cayman Islands, (i) there is no Cayman law requirement for holding an annual general meeting; and (ii) unaudited

financial statements are not required to be announced. Accordingly, the Company is not required to make any application in the Cayman Islands in relation to the Extension Applications.

Shareholders are encouraged to refer to the Company's corporate website at www.krisenergy.comor the Company's latest announcements on the SGX-ST website for updates on any revised AGM plans.

BY ORDER OF THE BOARD

Kelvin Tang

Chief Executive Officer and Executive Director

Please contact the below individual for any enquiries:

KrisEnergy Ltd.

Tanya Pang

VP Investor Relations & Corporate Communications

[e-mail]

About KrisEnergy:

KrisEnergy Ltd. is an independent upstream company focused on the exploration for and the development and production of oil and gas in Southeast Asia. The Company holds working interests in three producing oil and/or gas fields, one each in the Gulf of Thailand and offshore Cambodia, and one onshore Bangladesh. It also participates in five blocks in various stages of the E&P lifecycle in Indonesia and Thailand. KrisEnergy operates six of the contract areas.

For more information, go to www.krisenergy.com