• KTJ Project maintaining acceleration schedule targeting first oil in late 2027/early 2028
• Immediate mobilization of engineering and procurement resources to deliver firm pricing and project schedule
• Up to US$20 million (gross) accelerated development capex for Long-Lead Items (LLIs)

Finder Energy Holdings Limited (ASX: FDR) has mobilized significant resources to safeguard and maintain the acceleration timeline for the KTJ Project. The steps taken include signing agreements with SLB and TIMOR GAP related to engineering, planning and reservation of selected critical path Long-Lead Items (LLIs), de-risking the development schedule and maintaining the KTJ Project accelerated timeline to achieve First Oil by late 2027/early 2028. The Bridging Agreement with SLB immediately mobilizes additional engineering and procurement resources to advance engineering, procurement planning and readiness for a potential EPCI phase. The PSC 19-11 joint venture has also approved budget amendments to enable early commitment to critical LLIs, with Finder and TIMOR GAP agreeing to accelerate the timing of up to US$20m (gross) in development capex for LLIs, with each party contributing US$10 million. Finder is focused on completing key workstreams in Q2 2026 leading into FID, which include delivery of firm pricing and project schedule for EPCI Phase, Phase 2 engineering studies for FPSO redeployment, securing a drilling rig, approval of the Field Development Plan, and securing debt funding for Finder's share of development capex.

The Company continues to actively pursue cost optimization initiatives, including alternative supply sources, opportunistic procurement strategies, fixed pricing and innovative commercial solutions aimed at reducing capital intensity and funding requirements. The early commitment to LLIs reflects the Company's proactive approach to execution and positions the project to achieve first oil in late 2027/early 2028.