• Execution of Petroleum Production Sharing Agreement with Zimbabwe
• Environmental Impact Assessment renewal until March 2027
• Musuma-1 drilling preparations advanced
• Zambezi Valley supply base upgrades completed
• A$10 million Placement completed

Invictus Energy Ltd has executed a landmark Petroleum Production Sharing Agreement with the Republic of Zimbabwe, establishing a comprehensive legal, fiscal, and operational framework for the Cabora Bassa Project. The agreement provides long-term certainty for exploration, appraisal, development, production, and commercialization activities. The Environmental Impact Assessment for the Project area has been renewed until March 2027, enabling seismic acquisition, drilling, and well testing. Preparations for the high-impact Musuma-1 exploration well are advancing, with key wellpad and civil works contracts awarded and rig maintenance underway. Additionally, upgrades to the Zambezi Valley supply base have been completed, creating a centralized hub for future field activities. A$10 million Placement was completed to fund the Musuma-1 exploration well and associated pre-drill activity.