• Horizon Oil Limited announces intention to make off-market takeover offer for Cue Energy Resources
• Cue Board appoints Independent Board Committee to evaluate and respond to the offer
• Cue shareholders advised not to take any action at this stage

Cue Energy Resources Limited (ASX:CUE) has noted the announcement made by Horizon Oil Limited (Horizon) on 2 March 2026 of its intention to make an off-market takeover offer to acquire all fully paid ordinary shares in Cue that Horizon does not already hold a relevant interest in (Horizon Takeover Offer). The Horizon Takeover Offer comprises a proposed consideration of A$0.008 in cash and 0.5625 fully paid ordinary Horizon shares for each Cue share. Cue has appointed an Independent Board Committee (IBC), consisting of its current independent directors, to evaluate and respond to the Horizon Takeover Offer. The IBC, together with its independent advisers, is currently assessing the proposed offer and will keep shareholders informed as appropriate. Cue shareholders are advised not to take any action in relation to the Horizon Takeover Offer at this stage. The Horizon Takeover Offer, when dispatched, is required to remain open for at least one month. The IBC will set out their views in relation to the proposed offer from Horizon in a target's statement, which will be sent to all Cue shareholders.