The board of directors (the 锟紹oard锟�) of Rex International Holding Limited (the 锟紺ompany锟� or 锟絉ex锟� and
together with its subsidiaries, the 锟紾roup锟�) wishes to share that Rex锟絪 subsidiary Lime Petroleum Holding
AS (锟絃PH锟�), through Nordic Trustee AS (the 锟紹ond Trustee锟�), is seeking from bondholders (the
锟紹ondholders锟�) of LPH锟絪 2027 Bonds and 2028 Bonds (together, the 锟紹onds锟� or the 锟紹ond Issues锟�), a
deferment of LPH锟絪 obligation to pay the interest payments falling due in January 2026 (settlement on
19 January 2026 and 12 January 2026 respectively) (the "Deferred Interest Amounts"), so that the
Deferred Interest Amounts (including late payment interest pursuant to the Bond Terms from and
including the Interest Payment Dates in January 2026) shall be settled no later than 31 March 2026. LPH
is also requesting the Bondholders to temporarily waive and suspend the Minimum Liquidity covenants
for the Bonds until 31 March 2026.
The requests have arisen due to an unexpected delay in income from oil production and additional costs
of drilling operations as a result of operational and logistical challenges in the S锟絤锟� field, offshore Benin,
operated by LPH锟絪 wholly-owned indirect subsidiary Akrake Petroleum Benin S.A., leading to an
unfortunate negative impact on LPH锟絪 short-term cash flow and liquidity position.
Bondholders have up to 23 January 2026 to vote on the proposed requests and or other resolutions as
may be arrived at between the Bondholders and LPH.
The Company will update the market accordingly in accordance with applicable rules of the SGX-ST in
the event of any material updates.
Shareholders and potential investors should exercise caution when trading in the Shares of the
Company. Persons who are in doubt as to the action they should take should consult their legal, financial,
tax or other professional advisers.