Matahio-Horizon partnership completes acquisition of ExxonMobil asset in Thailand

Kuala Lumpur, 1 August 2025:– Malaysian headquartered Matahio Energy (“Matahio”) today announced the completion of the acquisition of Exxon Mobil Corporation (“ExxonMobil”)’s 100% interest in ExxonMobil Exploration and Production Khorat (EMEPK) by Matahio and Horizon Oil Limited (“Horizon”).

Under the terms of the deal, Horizon acquired 75% in EMEPK, while Matahio acquired the remaining 25% and will manage operatorship of the Nam Phong field on behalf of both companies. All EMEPK employees will continue their employment with the company post completion of this transaction, ensuring operational continuity. EMEPK is in the process of being renamed MH Energy Thailand LLC (MHET).

The transaction marks Matahio’s entry into Thailand, its third geography after New Zealand and the Philippines. The deal includes the acquisition of a gross 10% non-operated working interest in the E5N and EU1 development licences, onshore Thailand, which contain the producing Sinphuhorm conventional gas and condensate field, and a gross 80% operated interest in the E5 development licence, onshore Thailand, which contains the Nam Phong producing conventional gas field.

The completion of this transaction follows the successful execution of a comprehensive operatorship transfer plan, providing confidence to Matahio, Horizon, and all stakeholders that Matahio is fully prepared to seamlessly manage operatorship of the Nam Phong field.

Matahio Energy CEO Wai-Lid Wong said, “This acquisition marks a significant milestone in Matahio’s growth journey. It reflects our confidence in the region’s energy future, reinforces our commitment to expanding our upstream business in Southeast Asia, and supports our ambition to grow a resilient, forward-looking upstream portfolio. Our collaboration with Horizon aligns with our ethos of progressive energy and is a positive example of how strategic partnerships can unlock sustainable growth.”

“We are committed to preserving EMEPK’s strong track record of safe, reliable, and high- integrity operations. We look forward to working closely with all stakeholders, including our new colleagues in Thailand, our joint-venture Partner PTT Exploration and Production Public Company Limited (PTTEP), and the Department of Minerals (DMF) to ensure long-term value creation in Thailand, and establishing long-lasting relationships in the process. We also thank ExxonMobil for their support through the transition period,” Wong added.

Wong thanked the senior leadership at Horizon for working closely with Matahio to achieve the completion of this transaction and, more importantly, for cultivating an excellent collaborative working relationship across all teams.

About Matahio Energy

Matahio Energy is a leading upstream energy company dedicated to delivering sustainable and innovative energy solutions across Asia and Australasia. With a 78.8% operated stake in the Galoc field in the Philippines and full ownership of three onshore permits in New Zealand, it produces over 2,000 boepd of net output. Committed to operational excellence, environmental stewardship, and strategic growth, Matahio integrates responsible resource development with innovative technology to drive long-term value for its stakeholders. Guided by its ethos of progressive energy, Matahio prioritises sustainability at every stage of its operations, ensuring a positive impact on communities and the environment while strengthening its presence in key markets.