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EnQuest : Early redemption / Cancellation / Delisting - ENQUEST PLC - USG315APAG37, US29357JAC09 (2 securities)
EnQuest : Early redemption / Cancellation / Delisting - ENQUEST PLC - USG315APAG37, US29357JAC09 (2
About this update from Enquest Plc
NOTICE OF CONDITIONAL REDEMPTION EnQuest PLC (the "Issuer") 11⅝% Senior Notes due 2027 (the "Notes") Reg S: ISIN: USG315APAG37 / CUSIP: G315AP AG3 144A: ISIN: US29357JAC09 / CUSIP: 29357J AC0 Redemption Date: May 1, 2026 Notice is hereby given pursuant to paragraphs 6(b) and 8 of the Notes and Sections 3.1, 3.2, 3.4 and 3.8(b) of the indenture dated October 25, 2022 as amended and/or supplemented from time to time, by and among, inter alios , the Issuer, Deutsche Bank Trust Company Americas, as trustee (the " Trustee "), principal paying agent (the " Principal Paying Agent "), transfer agent and registrar (the " Indenture "), that the Issuer has elected to redeem all of the outstanding Notes on the Redemption Date (as defined below) pursuant to paragraph 6(b) of the Notes and Section 3.8(b) of the Indenture, subject to the satisfaction or waiver of the Financing Condition (as defined below). Capitalized terms used but not defined herein have the meanings ascribed to them in the Indenture. The terms and conditions of the redemption are as follows: Subject to the satisfaction or waiver of the Financing Condition, the redemption date for the Notes will be the later of (i) May 1, 2026 and (ii) if the Financing Condition has not been satisfied or waived on or before May 1, 2026, such later date as the Issuer may determine, but in no case shall the redemption date be more than 60 days following the date hereof (the " Redemption Date "). The record date, on which any Holder must hold any Notes to be entitled to the Redemption Price (as defined below), will be the Business Day immediately prior to the Redemption Date (the " Record Date "). The redemption price of the Notes is 102.9062% of the principal amount of the Notes to be redeemed, totaling $478,513,830.00 (the " Redemption Price "). Accrued and unpaid interest from November 1, 2025 (the last interest payment date for which interest on the Notes was paid), to, but excluding, the Redemption Date, in the amount of $27,028,125.01, and Additional Amounts, if any, will be paid in the usual manner. The Issuer will inform Holders by notice (with a copy to the Trustee and the Paying Agent) on or before the Redemption Date as to whether the Condition has been satisfied or waived and of a new Redemption Date, the Additional Amounts (if any), the redemption premium and the new amount of accrued and unpaid interest from November 1, 2025, to, but excluding, the new Redemption Date. In order for a Holder to collect the Redemption Price, the Notes called for redemption must be surrendered to, if mail or overnight courier: DB Services Americas, Inc, 5021 Gate Parkway, 1 st Floor, MS JCK01-0218, Jacksonville, FL 32256. For information call +1-800-735-7777. Unless the Issuer defaults in making such payment of the Redemption Price, interest on the Notes called for redemption shall cease to accrue on and after the Redemption Date. The Notes will be redeemed in accordance with paragraph 6(b) of the Notes. The ISIN and CUSIP numbers in relation to the Notes being redeemed are as set forth above. No representation is made as to the correctness of such numbers listed in this Notice of Conditional Redemption or as printed on the Notes. If the Redemption Date is not a Business Day, payment will be made on the next succeeding Business Day, and no interest will accrue in the intervening period in accordance with Section 11.7 of the Indenture. The Issuer's obligation to redeem any of the Notes on the Redemption Date is conditional upon the completion of one or more financing transactions by the Issuer or one or more of its affiliates for the purpose of redeeming the Notes that are reasonably satisfactory to the Issuer in its sole discretion and result in aggregate gross proceeds to the Issuer or one of its affiliates of at least $478,513,830.00 on or prior to the Redemption Date (the " Financing Condition "). Accordingly, none of the Notes shall be deemed due and payable on the Redemption Date unless and until the Financing Condition is satisfied or waived by the Issuer. The Issuer will inform Holders by notice (with a copy to the Trustee and the Paying Agent) on or before the Redemption Date as to whether the Condition has been satisfied or waived and of a new Redemption Date, the Additional Amounts (if any), the redemption premium and the new amount of accrued and unpaid interest from November 1, 2025, to, but excluding, the new Redemption Date. Under current U.S. federal income tax law, backup withholding, currently at a rate of 24 percent (24%), generally may apply to the payment of gross Redemption Price proceeds, unless (i) in the case of a non-corporate Holder that is a beneficial owner of Notes and that is a United States person (as determined for U.S. federal income tax purposes), the Paying Agent has received a properly completed Internal Revenue Service (" IRS ") Form W 9 setting forth the Holder's taxpayer identification number, or (ii) the Holder otherwise establishes an exemption. A Holder that is a beneficial owner of Notes and that is not a United States person (as determined for U.S. federal income tax purposes) generally may establish an exemption from backup withholding by providing to the Paying Agent an IRS Form W 8BEN or IRS Form W 8BEN-E (or other applicable IRS Form W-8), upon which it certifies its foreign status. IRS Forms are available at the IRS website: irs.gov. EACH HOLDER OF NOTES IS URGED TO CONSULT HIS OR HER OWN TAX ADVISOR AS TO THE PARTICULAR TAX CONSEQUENCES OF REDEMPTION TO SUCH HOLDER, INCLUDING THE APPLICABILITY AND EFFECT OF FEDERAL, STATE, LOCAL AND OTHER TAX LAWS. Any questions regarding this Notice of Conditional Redemption should be directed to the Issuer at: EnQuest PLC Charles House, 2nd Floor 5-11 Regent Street London SW1Y 4LR United Kingdom Issued by: EnQuest PLC Dated: April 20, 2026