SAPURA ENERGY BERHAD (Formerly known as …

1 SAPURA ENERGY BERHAD . (Formerly known as SAPURAKENCANA PETROLEUM BERHAD ). (Company No : 950894-T). Incorporated in Malaysia QUARTERLY REPORT ON CONSOLIDATED results FOR THE third quarter ENDED 31 OCTOBER 2017. THE FIGURES HAVE NOT BEEN AUDITED. I. CONDENSED CONSOLIDATED INCOME STATEMENT. Individual quarter Cumulative quarter Current year Preceding year Nine Nine quarter corresponding months months quarter to to 31/10/2017 31/10/2016 31/10/2017 31/10/2016. RM'000 RM'000 RM'000 RM'000. 1. Revenue 1,279,973 2,221,724 4,705,752 5,838,504. Other operating income 13,072 11,178 51,531 1,357,666. Operating expenses (1,018,067) (1,700,064) (3,649,479) (4,944,272).

2 Profit from operations 274,978 532,838 1,107,804 2,251,898. Depreciation and amortisation (270,735) (262,065) (818,113) (1,479,161). Finance income 8,019 6,071 16,009 18,149. Finance costs (227,464) (190,941) (648,343) (578,773). Net foreign exchange (loss)/gain (22,212) 22,317 45,914 (11,003). Gain on disposal of property, plant and equipment - - 5,583 - Share of profit from associates and joint ventures 27,698 91,032 219,574 309,417. (Loss)/profit before taxation (209,716) 199,252 (71,572) 510,527. Taxation (65,505) (41,838) (146,850) (131,444). (Loss)/profit after taxation (275,221) 157,414 (218,422) 379,083. Attributable to: Owners of the Parent (274,406) 158,059 (217,945) 380,636.

3 Non-controlling interests (815) (645) (477) (1,553). (275,221) 157,414 (218,422) 379,083. 2. Earnings per share (sen). Basic/Diluted ( ) ( ) The condensed consolidated income statement should be read in conjunction with the accompanying explanatory notes attached to these interim financial statements. Page 1. SAPURA ENERGY BERHAD . (Formerly known as SAPURAKENCANA PETROLEUM BERHAD ). (Company No : 950894-T). Incorporated in Malaysia QUARTERLY REPORT ON CONSOLIDATED results FOR THE third quarter ENDED 31 OCTOBER 2017. THE FIGURES HAVE NOT BEEN AUDITED. II. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME. Individual quarter Cumulative quarter Current year Preceding year Nine Nine quarter corresponding months months quarter to to 31/10/2017 31/10/2016 31/10/2017 31/10/2016.

4 RM'000 RM'000 RM'000 RM'000. (Loss)/profit after taxation (275,221) 157,414 (218,422) 379,083. Other comprehensive income: Items that may be reclassified to income statements in subsequent periods: Foreign currency translation differences (87,113) 195,016 (354,885) 23,109. Transfer of exchange differences arising upon dissolution of Berantai Floating Production Limited - - (52,757) - Cash flow hedge: - Changes in fair value of derivatives 35,429 - 77,300 - - Foreign exchange loss on hedged items (29,516) (9,600) (129,928) (9,600). Share of other comprehensive income of associates and joint ventures: - Foreign currency translation differences (25,558) 49,477 (66,333) 65,751.

5 - Changes in fair value of derivatives 13,350 28,840 (252) 6,657. Total comprehensive (loss)/income (368,629) 421,147 (745,277) 465,000. Attributable to: Owners of the parent (367,690) 421,735 (743,747) 466,202. Non-controlling interests (939) (588) (1,530) (1,202). Total comprehensive (loss)/ income (368,629) 421,147 (745,277) 465,000. The condensed consolidated statement of comprehensive income should be read in conjunction with the accompanying explanatory notes attached to these interim financial statements. Page 2. SAPURA ENERGY BERHAD . (Formerly known as SAPURAKENCANA PETROLEUM BERHAD ). (Company No : 950894-T). Incorporated in Malaysia QUARTERLY REPORT ON CONSOLIDATED results FOR THE third quarter ENDED 31 OCTOBER 2017.

6 THE FIGURES HAVE NOT BEEN AUDITED. III. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION. UNAUDITED AUDITED. As at end of As at end of current preceding financial period financial year 31/10/2017 31/01/2017. RM'000 RM'000. ASSETS. Non-current assets Property, plant and equipment 14,538,143 15,140,032. Expenditures on oil and gas properties 4,242,136 4,398,855. Goodwill on consolidation 8,248,254 8,443,539. Other intangible assets 23,873 39,991. Investment in associates and joint ventures 1,585,337 1,858,609. Deferred tax assets 120,837 221,571. Derivatives 55,441 - Trade receivables 31,534 39,129. 28,845,555 30,141,726.

7 Current assets Inventories 466,034 458,483. Trade and other receivables 3,015,282 3,234,444. Tax recoverable 102,793 95,099. Cash and cash equivalents 1,892,733 3,519,509. 5,476,842 7,307,535. TOTAL ASSETS 34,322,397 37,449,261. EQUITY AND LIABILITIES. Equity attributable to equity holders of the Company Share capital 8,066,410 8,066,410. Shares held under trust (139,304) (93,304). Other reserves 1,959,230 2,485,032. Retained profits 2,340,407 2,617,980. 12,226,743 13,076,118. Non-controlling interests 2,660 4,190. Total equity 12,229,403 13,080,308. Non-current liabilities Borrowings 15,525,906 15,135,967. Other payables 4,549 347,043.

8 Provision for assets retirement obligation 252,819 251,967. Derivatives - 21,859. Deferred tax liabilities 1,161,754 1,282,684. 16,945,028 17,039,520. Current liabilities * *. Borrowings 1,749,594 3,511,050. Trade and other payables 3,299,487 3,765,602. Provision for assets retirement obligation 21,009 28,377. Income tax payable 77,876 24,404. 5,147,966 7,329,433. TOTAL LIABILITIES 22,092,994 24,368,953. TOTAL EQUITY AND LIABILITIES 34,322,397 37,449,261. Net assets per share (RM) The condensed consolidated statement of financial position should be read in conjunction with the accompanying explanatory notes attached to these interim financial statements.

9 Page 3. SAPURA ENERGY BERHAD . (Formerly known as SAPURAKENCANA PETROLEUM BERHAD ). (Company No : 950894-T). Incorporated in Malaysia QUARTERLY REPORT ON CONSOLIDATED results FOR THE third quarter ENDED 31 OCTOBER 2017. THE FIGURES HAVE NOT BEEN AUDITED. IV. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS. UNAUDITED UNAUDITED. Nine months Nine months to to 31/10/2017 31/10/2016. RM'000 RM'000. (Loss)/profit before taxation (71,572) 510,527. Adjustments 1,194,114 1,831,067. Operating profit before working capital changes 1,122,542 2,341,594. Changes in working capital (478,507) (21,599). Cash generated from operations 644,035 2,319,995.

10 Taxation paid (58,523) (104,839). Net cash generated from operating activities 585,512 2,215,156. Cash flows from investing activities Purchase of property, plant and equipment (909,432) (186,905). Expenditure on oil and gas properties (191,553) (233,719). Net advances from/(to) joint venture companies 42,400 (59,167). Dividend received from a joint venture company 423,695 449,479. Other items * 20,536 17,949. Net cash used in investing activities (614,354) (12,363). Cash flows from financing activities Finance cost paid * (561,527) (607,887). Dividend paid on ordinary shares (59,628) - Purchase of shares held under trust (46,000) (80,000).