INTRODUCTION

The Board of Directors of Sapura Energy Berhad ("SEB" or "Company") ("Board") wishes to announce that the Company had on the following dates incorporated new wholly-owned subsidiaries:

A) SAPURA EXPLORATION AND PRODUCTION (AMERICAS) SDN BHD ("SEP Americas")
SEP Americas, a private limited company incorporated under the Companies Act, 2016 on 18 April 2018. The issued and paid-up share capital of SEP Americas are RM2.00. SEP Americas is held through Sapura Exploration and Production Sdn Bhd ("SEP"), a wholly-owned subsidiary of SEB.

B) SAPURA EXPLORATION AND PRODUCTION (OCEANIA) SDN BHD ("SEP Oceania")
SEP Oceania, a private limited company incorporated under the Companies Act, 2016 on 19 April 2018. The issued and paid-up share capital of SEP Oceania are RM2.00. SEP Oceania is held through SEP.

C) SAPURA EXPLORATION AND PRODUCTION OMV JV SDN BHD ("SEP OMV JV")
SEP OMV JV, a private limited company incorporated under the Companies Act, 2016 on 19 April 2018. The issued and paid-up share capital of SEP OMV JV are RM2.00. SEP OMV JV is held through Sapura Exploration and Production (NZ) Sdn Bhd, a wholly-owned subsidiary of SEP.

D) SAPURA EXPLORATION AND PRODUCTION (MEXICO) SDN BHD ("SEP Mexico")
SEP Mexico, a private limited company incorporated under the Companies Act, 2016 on 23 April 2018. The issued and paid-up share capital of SEP Mexico are RM2.00. SEP Mexico is held through SEP Americas.

FINANCIAL  EFFECTS

The incorporation of SEP Americas, SEP Oceania, SEP OMV JV and SEP Mexico are not expected to have any material effect on SEB group's earnings and net assets for the financial year ending 31 January 2019.

DIRECTORS  AND  MAJOR  SHARE HOLDERS' INTEREST

None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the above incorporations.

This announcement is dated 2 May 2018.