Lukoil Non-Binding Indicative Proposal

Overnight, FAR Limited (ASX: FAR) received a conditional non-binding indicative proposal from PJSC Lukoil, one of the world's largest publicly traded energy companies, to acquire 100% of the shares of FAR at A2.2c cash per share (“Lukoil Proposal”). Lukoil is headquartered in Russia. The Lukoil Proposal values FAR at A$220 million. FAR cautions that the Lukoil Proposal is not a legally binding off