• Woodside Energy to make a provisional 2025 Contingent Payment of US$23.7 million
• Maximum future Contingent Payment reduced to US$19.8 million
• FAR to seek shareholder approval for a proposed capital return of 35 cents per share

FAR Limited (ASX: FAR) has announced that it has reached an agreement with Woodside Energy for Woodside Energy to make a provisional 2025 Contingent Payment of US$23.7 million, which is expected to be received by FAR in April 2026. This amount is in line with FAR's estimate of the amount payable to FAR based on Woodside Energy's announced 2025 Sangomar product sales of 28.4 MMbbl. Payment of the provisional amount is subject to a reconciliation process, and means that the maximum future Contingent Payment to be subsequently received by FAR is US$19.8 million. Upon receipt of the provisional 2025 Contingent Payment, the Directors consider that FAR will have surplus capital which they consider should be returned to shareholders. Accordingly, FAR advises that it intends to seek shareholder approval for a proposed capital return of 35 cents per share, returning approximately A$32.3 million to shareholders. Shareholder approval is required for the Capital Return by way of ordinary resolution, and approval will be sought at the annual general meeting of FAR shareholders which is expected to be held on 28 May 2026. If shareholder approval is obtained, FAR intends to attend to payment to shareholders shortly thereafter.