Core Viewpoint - Sintana has reached an agreement to acquire Challenger's entire issued and to be issued ordinary share capital through a Court-sanctioned scheme of arrangement under the Isle of Man Companies Act 1931 [1] Group 1: Acquisition Details - The acquisition will be implemented via a Court-sanctioned scheme of arrangement [1] - The Court Meeting and General Meeting were held on 26 November 2025 to discuss the acquisition [3] - The Scheme Document was sent to Challenger Shareholders on 3 November 2025 [3] Group 2: Voting Results - At the Court Meeting, 113,276,238 shares (98.04%) voted in favor of the acquisition, while 2,264,198 shares (1.96%) voted against it [5] - At the General Meeting, 113,086,530 votes (97.60%) were in favor of the special resolution to implement the scheme, with 2,780,284 votes (2.40%) against [7] - The total number of Challenger Shares in issue was 249,312,660, with 46.34% of the issued share capital voting at the Court Meeting [9] Group 3: Conditions and Timetable - The outcome of the meetings satisfied Conditions 2.1 and 2.2 as outlined in the Scheme Document [10] - The acquisition is expected to become effective on 11 December 2025, subject to court sanction and other conditions [11] - Challenger plans to apply for the cancellation of its shares on AIM, effective on or shortly after the acquisition becomes effective [13] Group 4: Future Plans - Sintana intends to seek admission of the Sintana Shares to trading on AIM following the acquisition [15] - Challenger will be re-registered as a private limited company after the acquisition [14] - Sintana is engaged in petroleum and natural gas exploration in Namibia and Colombia, focusing on acquiring and developing high-potential assets [16]