The Board of Directors of Sapura Energy Berhad ("SEB" or "Company") ("Board") wishes to announce that the Company has on 2 November 2018 incorporated  the following new wholly-owned subsidiaries under the Companies Act 2016 as private companies limited by shares with an issued share capital of RM2.00 each:

1) Sapura Upstream Assets Sdn Bhd; and

2) SEB Upstream Sdn Bhd.

FINANCIAL EFFECTS

The incorporation of the two companies mentioned above are not expected to have any material impact on the SEB group's earnings and net assets for the financial year ending 31 January 2019.

DIRECTORS AND MAJOR SHAREHOLDERS' 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 incorporation.

This announcement is dated 5 November 2018.