• Horizon Oil Limited and its group members have acquired a 19.99% relevant interest in CUE Energy Resources
• The acquisition was made through a pre-bid agreement to purchase 139,885,879 CUE shares
• The consideration paid is $0.1150 per share

Horizon Oil Limited (Horizon) and its group members have become substantial holders in CUE Energy Resources Limited (CUE), acquiring a 19.99% relevant interest in CUE. This was achieved through a pre-bid agreement dated 2 March 2026 between Horizon and Echelon Offshore Limited, under which Horizon has agreed to purchase 139,885,879 fully paid ordinary shares in CUE (the Sale Securities) for a consideration of $0.1150 per share. The acquisition of the Sale Securities is conditional on obtaining any required Ministerial consent or approval under the Petroleum (Prospecting and Mining) Act 1980 (NT) prior to the end of the offer period for a proposed takeover offer by Horizon or its related body corporate for all of the CUE shares it does not already own or have a relevant interest in. Horizon must use reasonable endeavours to satisfy this condition as expeditiously as possible.