VANTRIS ENERGY REPORTS IMPROVED RESULTS IN Q2 FY2026, ANNOUNCES RESTRUCTURING EFFECTIVE DATE

Date: 29.09.2025.

Kuala Lumpur, 29 September 2025

Revenue: RM1.06 billion
EBITDA: RM47 million
LATAMI: RM231 million
Unrestricted cash balance: RM2.0 billion
Group Order Book: RM7.1 billion

Vantris Energy Berhad (“Vantris Energy” or “the Company”) and its subsidiaries (“the Group”) today announced its financial results for the second quarter ended 31 July 2025 (“Q2 FY2026”), highlighting a return to positive EBITDA. On 26th September, Vantris Energy also announced it has achieved its Restructuring Effective Date (“RED”), a defining milestone in the Group’s restructuring journey.

In Q2 FY2026, the Group recorded an EBITDA of RM47 million, an improvement from a loss of RM275 million in the previous quarter (“Q1 FY2026”). Revenue for the quarter rose to RM1.06 billion, up from RM801 million recorded in Q1 FY2026.

The earnings rebound was primarily driven by stronger contribution from the Drilling segment, with several rigs commencing new contracts. The Operations & Maintenance (“O&M”) segment maintained steady performance, whilst the Engineering & Construction (“E&C”) division is on a gradual path to recovery. The Group’s profit contribution from joint ventures and associates also improved, led by Brazil joint venture Seagems Solutions Ltda, due to the higher utilisation and improved charter rates of its vessels.

Despite the improvements, the Group recorded a Loss After Tax and Minority Interest (“LATAMI”) of RM231 million in the quarter, narrowing from the RM478 million loss in Q1 FY2026. The results were significantly impacted by foreign exchange losses of RM239 million, primarily unrealised, stemming from the weaker US dollar against the ringgit.

As of 31 July 2025, the Group’s order book stood at RM7.1 billion, lower than the RM7.9 billion reported in the previous quarter. This reduction is part of the Company’s discipline to de-risk its order book and sharpen its focus on opportunities in the Asia Pacific region. In July 2025, the Group’s E&C and O&M segments secured two contracts for subsea and decommissioning services in Thailand, with a combined value exceeding RM500 million. The Drilling segment remains resilient, with nearly all rigs under contract—apart from two—and continues to generate stable earnings through long-term commitments in Malaysia, Thailand, and West Africa.

Commenting on the results, Vantris Group Chief Executive Officer Muhammad Zamri Jusoh said, “This quarter reflects tangible progress in our efforts to stabilise the business. The return to positive EBITDA is encouraging, and we are cautiously optimistic about our turnaround. To move forward, we must close operational gaps with discipline, improve project execution, and enhance our risk management practices”.

Vantris Energy also reached a defining milestone with the achievement of its Restructuring Effective Date (“RED”) on 26 September 2025, marking the formal implementation of the Group’s Regularisation Plan. This milestone provides a stronger financial foundation for the Group to position itself for recovery and restore long-term stability.

“The RED marks a new beginning for Vantris Energy, but it is also the culmination of a long and complex exercise made possible by the collective support of our stakeholders”, Zamri remarked. “We are deeply grateful to our vendors for their patience, as fulfilling our commitments to them has always been central to our journey. Our appreciation also goes to Malaysia Development Holding Sdn Bhd for its pivotal investment, which supports the revitalisation of Malaysia’s vendor ecosystem. We thank our lenders for their trust, the Corporate Debt Restructuring Committee for its invaluable guidance, and our advisers for their steadfast expertise. We are equally grateful to the regulators for their oversight, our shareholders for their confidence, and, above all, our employees for their resilience. I must extend a special acknowledgement to our internal restructuring team, who worked tirelessly to navigate this complex process and deliver this successful outcome.”

The Regularisation Plan comprises key components designed to restore Vantris Energy’s financial health, positioning the Group to uplift its PN17 status. This includes a capital reduction to offset accumulated losses and a 20-to-1 share consolidation to enhance the share trading price and reduce price volatility. Through a comprehensive debt restructuring exercise, Vantris Energy reduced its borrowings from about RM10.8 billion to RM5.6 billion, resulting in significant interest savings and easing the Group’s overall financial burden.

The Group will proceed with the settlement of outstanding amounts with its preferred unsecured creditors, including the Malaysian oil and gas ecosystem vendors, within 90 days from RED, in line with the agreed Scheme of Arrangement.

“Achieving RED represents a pivotal step forward in strengthening our financial footing. Our focus now is on building disciplined operational excellence to ensure the benefits of the restructuring translate into sustainable profitability”, said Zamri.

The Group remains committed to executing its Regularisation Plan, strengthening resilience and creating value for all stakeholders, with the goal of exiting PN17 status after achieving two consecutive quarters of profitability.

The successful implementation of the Group’s turnaround also provides Vantris Energy with a renewed platform to help advance Malaysia’s national energy agenda, supporting the security of supply and affordability of energy for homes and industries and contributing to the transition towards a more sustainable energy future.

For further editorial information, contact:

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Cautionary note: “Vantris Energy”, “the group” and “the company” are used for convenience where references are made to Vantris Energy Berhad in general. Similarly, words like “we”, “us” and “our” are used to refer to Vantris Energy Berhad in general or to those who work for the company and its subsidiaries, where relevant. This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Forward-looking statements can be identified by the use of forward-looking terminology such as the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “aim”, “plan”, “forecast” or similar expressions and include all statements that are not historical facts.