Ann: Notice of General Meeting, page-16

Ask about why SGC (and for that matter Nido and PNOC) have never, not one time, mentioned about the expiry of SC 6B. SC 6B was renewed for the last time by law (another 15 years) in 2009 in favour of then operator Blade Petroleum and JV partner Venturoil Philippines. This extension is already on top of the 40 odd years already given. By law the extra 15 years is the final one. By Feb 2024 by law SC 6B should revert to the DOE. If BS/Nido/PNOC wishes to have it again, they should go through a re-nomination process that most certainly will attract outside competition. They will not drill by then, nor the month after, nor the month after that. It takes at least 4 months to get the rig on site. How will this happen if they have yet to approve the new BS terms (slated for a meeting of the shareholders late Jan 2024). Ask that question please because they have never addressed it in the two plus years they owned Nido.