Title :

Policy Distribution Dividend Statement

 

Content :

 

Board Decision: This Dividend Distribution Policy has been approved by the Board of Directors of OQ Exploration and Production S.A.O.G. (“OQEP” or the “Company”) during its meeting held on 23 February 2026 and applies for the financial year 31st December 2026. Dividend to Shareholders Intent: OQEP aims to deliver a robust and sustainable dividend policy designed to return to shareholders substantially all of its distributable free cash flow while maintaining financial flexibility to support growth and long-term value creation. Dividend Distribution Interval: The Company intends to continue to implement a quarterly cash dividend distribution; however, this shall remain subject to Board and shareholders approvals. Dividend Distribution Strategy: Dividends will be paid in cash and structured as follows for the Financial Year ending 31st December 2026: • Base dividend: OMR 230.7 million per annum, paid quarterly. • Performance-linked dividend: 90% of free cash flow, plus net proceeds from any asset disposals, less the base dividend. Company Financial Position Considerations: As per the approved Dividend Distribution Policy, the Company’s ability to pay dividends is dependent on, among other things, the following factors:

Free cash flow generation2 • Market volatility and Oil Price levels • Capital expenditure requirements • Financing and operating obligations • Overall financial position and outlook of the Company Growth Strategy: This Dividend Distribution Policy aims to balance cash distribution with reinvestment in value accretive growth opportunities, ensuring long term sustainability of the business. Industry and Market Context: This Dividend Distribution Policy clearly establishes that the dividends’ distributions decisions shall consider the then-prevailing macroeconomic conditions, energy market dynamics, and the Company’s competitive positioning. Dividend Distribution Plan: For Dividend Distribution Plan Follow OQEP IR Site https://oqep.om/ir-home. Dividend Announcement Placement Plan: Dividend announcements will be disclosed through: • The Company’s official communication channels. • The Muscat Stock Exchange (“MSX”) portal in accordance with applicable disclosure requirements. Eligibility: Shareholders registered with Muscat Clearing and Depository Company (“MCD”) as of the announced record/cutoff date will be eligible to receive dividends. Approval and Distribution Process: • The Management shall submit dividend distribution recommendations to the Board.

The Board shall endorse the dividends distribution for shareholders’ approval at an Annual General Meeting or Ordinary General Meeting as applicable. • The approved dividends will be distributed by the Company within seven (7) days, or as otherwise prescribed by regulators. • The dividend payments will be administered by MCD. Dividend Distribution Policy Rationale: This Dividend Distribution Policy reflects OQEP’s strong cash-generating capability, disciplined capital allocation approach, and commitment to transparent and predictable shareholders returns. Legal Clause: This Dividend Distribution Policy is subject to the consideration of the Board in relation to the cash management requirements of the Company’s business for operating expenses, financing expenses and anticipated capital expenditures. In addition, the Company expects that the Board will also consider market conditions, the current operating environment in the Company’s market and the Board’s outlook for the Company’s business. Dividend Distribution Policy Review and Amendments: The Company reserves the right to review and amend this Dividend Distribution Policy as may deem appropriate by the Board to reflect changes in market conditions, regulatory requirements, or the Company’s strategic priorities. Disclaimer: This Dividend Distribution Policy provides guidance on OQEP’s approach to shareholders returns and reflects the Company’s current expectations and financial framework. Dividend declarations remain subject to Board and shareholders approvals and applicable laws and regulations. OQEP remains committed to transparent communication with shareholders regarding any material changes to its dividend approach.

Contact Information: For further information, please contact: Mundhir Al Sharji Head of Investor Relations [email protected] +968 -22142999