The Oil & Gas Holding Company B.S.C. (c) - Tender Offer - Launch

THE OIL & GAS HOLDING COMPANY B.S.C. (c) ANNOUNCES TENDER OFFER

15 MAY 2023

Full announcement including disclaimers and offer restrictions available via Euronext

"15 May 2023. The Oil & Gas Holding Company B.S.C. (c) (the “Offeror”) hereby announces that it is separately inviting Noteholders of its outstanding U.S.$750,000,000 7.625 per cent. Notes due 7 November 2024 (ISIN: XS1901860160 (Regulation S) and US67778M2C35 (Rule 144A)), issued by the Offeror (the “Notes”) to tender for cash purchase any and all of such Notes by the Offeror (the “Invitation”), all on the terms and subject to the satisfaction of the New Certificates Condition and the other conditions set out in the tender offer memorandum dated 15 May 2023 (the “Tender Offer Memorandum”)."

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"Rationale and background for the Invitation

The rationale for the Invitation, and the intended issuance of New Certificates, is to proactively manage the Offeror’s balance sheet and maturity profiles. Notes purchased by the Offeror pursuant to the Invitation will be cancelled and will not be re-issued or re-sold. Notes which have not been validly offered and accepted for purchase pursuant to the Invitation will remain outstanding."