General Announcement::Receipt of Notices from DBS Bank Ltd. and Madison Pacific Trust Limited

Receipt of Notices from DBS Bank Ltd. and Madison Pacific Trust Limited

Singapore, 7 June 2021 - KrisEnergy Ltd. ("KrisEnergy" or the "Company", and together with its subsidiaries, the "Group"), an independent upstream oil and gas company, wishes to announce that the Group has today received the following notices:

1. a notice from DBS Bank Ltd. ("DBS") in relation to the revolving credit facility ("RCF") between, among others, KrisEnergy (Asia) Ltd (as borrower) and DBS (as lender and agent) ("DBS Notice"); and
2. a notice from Madison Pacific Trust Limited ("Madison Pacific") in relation to the credit facility agreement ("Cambodia Loan Facility") between, among others, KrisEnergy (Apsara) Company Ltd and KrisEnergy (Cambodia) Ltd (as borrowers), Kepinvest Singapore Pte. Ltd (as lender) and Madison Pacific (as agent and security agent) ("Madison Pacific Notice").

Under the DBS Notice, DBS has, pursuant to continuing events of default, cancelled the total commitments under the RCF and declared that all loans are now payable on demand.

Under the Madison Pacific Notice, Madison Pacific has, pursuant to the DBS Notice, notified of an event of default under the Cambodia Loan Facility.

Each of DBS and Madison Pacific has also provided notice that they are entitled to take enforcement action and intend to do so in the near future.

BY ORDER OF THE BOARD

Kelvin Tang

Chief Executive Officer and Executive Director