Commissioning of Well Faiz X-1 Deep (Basal Sand)-Gambat South Block

P.I.D.C. House, Dr. Ziauddin Ahmed Road,

P. O. Box 3942, Karachi-75530, Pakistan

Tel: 92-21-35651480-89, 92-21-35657730-39

UAN: 92-21-111-568-568

Fax: 92-21-35680005 & 92-21-35682125

Website: https://www.ppl.com.pk/

Our reference: CS/PSX-0074 Your reference: Date: 8th May 2026

Mr. Syed Ahmad Abbas

Head of Business Development & Listing

Listing Department, Pakistan Stock Exchange Limited Stock Exchange Building, Stock Exchange Road Karachi

Dear Sir,

Re: Commissioning of Well Faiz X-1 Deep (Basal Sand) - Gambat South Block

We, the Operator of Gambat South Block, are pleased to announce the successful commissioning of Faiz X-1 Deep (Basal Sand) well.

The well was drilled in 2014. However, development of the discovery could not be undertaken due to absence of nearby pipeline infrastructure, leaving the project uneconomical. Following establishment of connectivity with other wells' pipeline and a comprehensive technical and economic re-evaluation, the Basal Sand interval was determined to be commercially viable. The Company subsequently undertook well intervention and surface facility works to bring the well into production.

Commissioning activities included isolation of deeper intervals, execution of well intervention jobs, installation of surface facilities, and construction of approximately 4.5 km of feeder line to integrate the well into the existing gas gathering network for onward delivery to the Gambat South Gas Processing Facilities.

The well was commissioned on 25th February 2026, and production was ramped up in stages. It is currently producing approximately 3.6 MMscfd of gas and 750 bpd of condensate following optimization of operational parameters. This increase in condensate supplies demonstrates the Company's commitment to monetizing discoveries in a cost-effective manner, while contributing to meeting Country's energy requirements.

The foregoing information is submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, for dissemination amongst your members.

Yours truly,

Company Secretary