Operational updates and revised CY26 production guidance

• Production through Who Dat E manifold delayed to 2H27
• CY26 Who Dat production guidance revised to 1.2 to 1.5 MMboe
• Total CY26 production guidance revised to 7.2 to 8.2 MMboe

Karoon Energy Ltd. announced operational updates and revised production guidance for CY26. The reinstatement of production through the Who Dat E manifold is delayed to the third quarter of 2026, with production expected to be restored in the second half of 2027. As a result, the company revised its CY26 production guidance for Who Dat to 1.2 to 1.5 MMboe. Total production guidance for CY26 is now 7.2 to 8.2 MMboe. Production from the A-1 ST well remains on schedule to commence by mid-year, and G-1 ST well operations are planned for 4Q26, pending final approvals.

CY26 total production guidance revised to 7.2 to 8.2 MMboe

Karoon Energy expects to restore Who Dat E manifold production in 2H27 and is reviewing and optimizing its 2026 investment expenditure.