The Board of Directors (the “Board”) of Rex International Holding Limited (the “Company” or “Rex”,
and together with its subsidiaries, the “Group”) refers to the Announcement and wishes to announce
that it has received confirmation from LPA on 31 May 2019, that the Divestment, involving a cash
consideration of USD 43 million and a contingent payment of a further USD 2 million upon no adverse
event materialising within a 12-month period from the completion of the Divestment, has been
completed on 29 May 2019.
The effective date of the Divestment will be 1 January 2019 (a standard practice for licence
transactions in Norway). Pursuant to the completion of the Divestment, LPA has ceased to have any
interest in the licences PL338C, PL338E and PL815 in the Norwegian North Sea.