JX Energy Ltd. is required to publish its preliminary financial results in respect of the Company for the year ended 31 December 2023 on a date not later than three months after the end of the financial year of the Company, i.e., on or before 31 March 2024. Pursuant to Rule 13.49(2) of the Listing Rules, the preliminary announcement in relation to the 2023 Annual Results shall be based on the Company's financial statements for the financial year ended 31 December 2023 which shall have been agreed with the Company's auditor. The company only renewed the appointment of BDO Limited as the auditors of the Company on 23 February 2024, as the Company could not reach an agreement with BDO with regards to its audit fees until then.

As a result of the delay in the renewal of the appointment of BDO as auditors, BDO's audit work did not commence until early March 2024. Consequently, BDO cannot complete their audit process on or before 31 March 2024. As such, the Company is unable to publish the 2023 Annual Results on or before 31 March 2024 as required by the Listing Rules.

Pursuant to Rule 13.49(3) of the Listing Rules, if the Company is unable to publish the 2023 Annual Results in accordance with Rules 13.49(1) and (2) of the Listing Rules, it must announce its results based on the financial results which have yet to be agreed with the auditors. The Board, after due and careful consideration, is of the view that it would not be appropriate for the Company to publish the unaudited management accounts of the Company for the financial year ended 31 December 2023 at this stage as they may not accurately reflect the financial performance and/or position of the Company and may confuse or mislead shareholders of the Company and potential investors.