King Stone Energy Group Limited informed the shareholders of the Company (the "Shareholders") and potential investors of the Company that there will be a delay in the release of its preliminary results in respect of the financial year ended 31 December 2023 ("2023 Annual Results") as the auditors of the Company (the "Auditors") requires additional time for the Company to provide information on significant outstanding matters raised by the Auditors, among other matters, (i) the business rationale and commercial substances, and impairment assessment of outstanding prepayments made to suppliers (the "Prepayment Matter"); and (ii) the classification and valuation of investments in associates as at 31 December 2023 (the "Investment In Associates Matter"). Accordingly, the Board meeting to approve the publication of the 2023 Annual Results announcement will be postponed. Pursuant to Rules 13.49(1) of the Listing Rules, the Company is required to publish an announcement in relation to its 2023 Annual Results not later than three months after the end of the financial year of the Company (i.e. on or before 31 March 2024).

Under 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 year ended 31 December 2023 which shall have been agreed with the Auditors. The delay in publishing the 2023 Annual Results, will constitute non-compliance with Rules 13.49(1) of the Listing Rules. The Board is working closely with the Auditors and has been using its best endeavors to resolve and provide information in relation to the Prepayment Matter and the Investment In Associates Matter and to cooperate with the Auditors in order complete the auditing process as soon as possible.