Update regarding Disposal of Italian Assets

Summary by AI ^BETAClose X

Rockhopper Exploration plc announced that the long stop date of 30 June 2026 has been reached for the sale of its Italian assets to Zodiac Energy Limited, with the transaction remaining conditional on Italian regulatory approval, which has not yet been received. While the share purchase agreement is still in effect, either party now has the option to withdraw from the transaction. The company and Zodiac continue to work towards satisfying the Italian regulator's requirements.

Disclaimer*

Rockhopper Exploration plc

30 June 2026

Rockhopper Exploration plc

("Rockhopper", the "Group" or the "Company")

Update regarding Disposal of Italian Assets

Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin, provides the following update in respect of the exit of Rockhopper's Italian assets.

On the 14 October 2024, Rockhopper announced its planned exit from Italy through the signing of a share purchase agreement ("SPA") with Zodiac Energy Limited ("Zodiac"). The SPA relates to the sale of Rockhopper Civita Limited (a wholly owned subsidiary of Rockhopper Exploration Plc). Rockhopper Civita Limited holds all Rockhopper's Italian assets and liabilities, except for the Ombrina Mare arbitration.

The SPA is conditional on receipt of approvals from the Falkland Islands Government ("FIG") and the Italian regulator, the first of which, from FIG has been received. As at the date of this announcement, 30 June 2026, Italian regulatory approval has not been received.

Whilst the SPA remains in full force and effect, the extended long stop date of 30 June 2026 has been reached, which provides Rockhopper and Zodiac with an option, should either party choose to exercise it, to withdraw from the transaction.

The Company and Zodiac continue to try and satisfy the demands of the Italian regulator and will provide further updates as appropriate.

Enquiries:

Rockhopper Exploration plc

Sam Moody - Chief Executive Officer

Tel. +44 (0)20 7390 0230 (via Vigo Consulting)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor / James Asensio / Charlie Hammond

Tel. +44 (0)20 7523 8000

Peel Hunt LLP (Joint Broker)

Richard Crichton / Georgia Langoulant

Tel. +44 (0)20 7418 8900

Vigo Consulting

Patrick d'Ancona / Ben Simons / Fiona Hetherington

Tel. +44 (0)20 7390 0234

Notes to Editors

Rockhopper Exploration plc is a UK-based oil and gas exploration and production company with key interests in the Falkland Islands. The Company holds a 35 per cent interest in licences in the North Falkland Basin, where it has sanctioned the development of the significant Sea Lion field, originally discovered by the Company in 2010.

Rockhopper's shares are quoted on the AIM market of the London Stock Exchange under the ticker RKH.

For more information, visit the Company's website at www.rockhopperexploration.co.uk.

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