The Board of Directors of Dagang NeXchange Berhad provided the additional information in relation to the Company's announcement made on 17 January 2023 in relation to the Announcement as follows regarding contract between Petroliam Nasional Berhad, Duta Marine Sdn. Bhd. and Ping Petroleum Sdn.

Bhd. in Relation to the Development and Production of Meranti Cluster: Value of the contract: The value of the contract will be determined based on the results of the resource assessment conducted on each asset in the license during the pre-development phase. Location of the Meranti: Meranti is located 82 km offshore Kuala Terengganu.

Is the contract renewable. If so, for how many years: The contract is on a two (2) years pre-development phase, followed by two (2) years development phase if the field is commercially viable and the Field Development and Abandonment Plan is approved by PETRONAS, and ten (10) years production period after the development phase. Any extension is subject to PETRONAS' approval.

The pre-development phase involves a comprehensive resource assessment of the multiple hydrocarbon discoveries on the license and field development plans for the assets. As Operator, PPSB carries the responsibility for carrying out the assessments.