Date: 7.10.2020.

Kuala Lumpur, 7 October 2020

Sapura Energy Berhad (“SEB”) wishes to clarify several media reports mentioning SEB in the Operation Car Wash probe in Brazil.

SEB categorically states its zero-tolerance policy towards bribery and corruption.

A search and seizure warrant was issued by the 13th Federal Court of Curitiba, Brazil on two accused persons, neither of whom are employees or directors of SEB. No director or employee of SEB is the subject of the current investigation by the Brazilian authorities.

In relation thereto, Sapura Navegacao Maritima SA (“SNM”), a 50:50 joint venture between SEB and Seadrill, is fully cooperating with the Brazilian investigating authorities. The joint venture is a separate entity managed independently of its two shareholders. To date, SNM has not been contacted by any other authorities.

As part of good corporate governance, SEB has initiated its own inquiry to ascertain whether there were any breaches of any laws and non-compliance to its Code of Ethical Conduct.

SEB reiterates that at all times, it conducts its business in accordance with the law and best corporate governance, in line with our corporate values of professionalism, honesty and trust.

Cautionary note: “Sapura Energy”, “the group” and “the company” are used for convenience where references are made to Sapura Energy Berhad in general. Similarly, words like “we”, “us” and “our” are used to refer to Sapura Energy Berhad in general or to those who work for the company and its subsidiaries, where relevant. This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Forward-looking statements can be identified by the use of forward-looking terminology such as the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “aim”, “plan”, “forecast” or similar expressions and include all statements that are not historical facts.