REG-Petrofac Limited PETROFAC LIMITED: RESTRUCTURING UPDATE: AGREEMENT IN PRINCIPLE REACHED WITH SAMSUNG E&A AND SAIPEM

PetrofacAnnouncement

Today 07:00

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   Petrofac Limited ( PFC)
   PETROFAC LIMITED: RESTRUCTURING UPDATE: AGREEMENT IN PRINCIPLE REACHED
   WITH SAMSUNG E&A AND SAIPEM

   11-Sep-2025 / 07:00 GMT/BST

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   11 September 2025

    

                 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

    

   RESTRUCTURING UPDATE: AGREEMENT IN PRINCIPLE REACHED WITH SAMSUNG E&A AND
                                     SAIPEM

    

   Petrofac announces  that it  has reached  an agreement  in principle  with
   SAMSUNG E&A and  Saipem regarding their  claims relating to  the Thai  Oil
   project. The  commercial  terms are  supported  by  the Ad  Hoc  Group  of
   Bondholders,  subject  to  the  agreement  of  longform  documents.   This
   agreement will enable  the Restructuring  to proceed with  the consent  of
   those parties.

   The Group will now work to  conclude discussions with key stakeholders  on
   next steps towards  implementation of  the Restructuring.  It is  expected
   that, subject to receipt  of all requisite  approvals and satisfaction  of
   conditions, the Restructuring  will be  completed by the  end of  November
   2025 and the Company will share further details as soon as appropriate  to
   do so, in line with its disclosure obligations.

   ENDS

    

   For further information contact:

   Petrofac Limited

   +44 (0) 207 811 4900

    

   Sophie Reid, Group Director of Communications

    1 Sophie.reid@petrofac.com

    

   Teneo (for Petrofac)

   +44 (0) 207 353 4200

   petrofac@teneo.com

    

    

   NOTES TO EDITORS

    

   Petrofac

    

   Petrofac is  a  leading  international  service  provider  to  the  energy
   industry, with a diverse  client portfolio including  many of the  world's
   leading energy companies.

    

   Petrofac designs,  builds,  manages  and  maintains  oil,  gas,  refining,
   petrochemicals and  renewable energy  infrastructure.  Our purpose  is  to
   enable our clients  to meet the  world's evolving energy  needs. Our  four
   values -  driven,  agile,  respectful and  open  -  are at  the  heart  of
   everything we do.

    

   Petrofac's core markets  are in the  Middle East and  North Africa  (MENA)
   region and the UK  North Sea, where  we have built  a long and  successful
   track record of safe, reliable and innovative execution, underpinned by  a
   cost effective and local delivery model with a strong focus on  in-country
   value. We operate in several  other significant markets, including  India,
   South East  Asia and  the United  States. We  have 7,300  employees  based
   across 31 offices globally.

    

   Petrofac is listed on the London Stock Exchange (symbol: PFC) trading in
   Petrofac shares is currently suspended pending publication of the Groups
   Full Year 2024 Audited Accounts.

    

   For additional information, please refer to the Petrofac website at
   www.petrofac.com

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B0H2K534
   Category Code:  MSCU
   TIDM:           PFC
   LEI Code:       2138004624W8CKCSJ177
   OAM Categories: 2.2. Inside information
   Sequence No.:   401488
   EQS News ID:    2196046


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:Sophie.reid@petrofac.com


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