Fugro N.V.

Regulatory Filings • Mar 5, 2024

Press release

Jakarta, Indonesia, 5 March 2024

Fugro secures significant marine survey contract on INPEX's Abadi LNG and carbon capture and storage project

INPEX Masela, Ltd. (INPEX), a subsidiary of INPEX Corporation, has awarded Fugro a significant marine survey contract for the Abadi liquefied natural gas (LNG) project in Indonesia.

Fugro will perform geophysical and geotechnical surveys needed to support front-end engineering design for offshore production facilities, the submarine pipeline to the onshore LNG terminal and CO² injection infrastructure. Geo-data will be acquired using Fugro's deepwater autonomous underwater vehicle Echo Surveyor 8 and a robotic seafloor drill, deployed from Indonesian support vessels. Fieldwork is expected to start in the second quarter of 2024.

The Abadi LNG project is based on an onshore LNG development scheme that INPEX is developing in partnership with PT Pertamina Hulu Energi Masela and PETRONAS Masela Sdn Bhd in Masela block. The project's annual LNG production is expected to reach 9.5 million tons, equivalent to over 10 percent of Japan's current annual LNG imports. As a result, the project will have a meaningful contribution to improving energy security in Indonesia, Japan and other Asian countries, based on its world-leading gas field properties and plentiful reserves enabling efficient development as well as its carbon capture and storage component.

"We are pleased to once again support INPEX, a company that understands the value provided by our Geo-data expertise," said Mark Heine, CEO. "This is particularly valid for the development of Abadi LNG project, where overcoming engineering challenges including slope stability, regional seismicity, subsea faulting and carbonate sediments will require a collaborative and informed approach. With our expertise and solutions, we will be able to contribute to energy security in the region."

For more information

Media Serge van de Ven s.vandeven@fugro.com +31 70 31 11129 +31 6 3094 2428

Investors

Catrien van Buttingha Wichers c.vanbuttingha@fugro.com +31 70 31 15335 +31 6 1095 4159

About Fugro

Fugro is the world's leading Geo-data specialist, collecting and analysing comprehensive information about the Earth and the structures built upon it. Adopting an integrated approach that incorporates acquisition and analysis of Geo-data and related advice, Fugro provides solutions. With expertise in site characterisation and asset integrity, clients are supported in the safe, sustainable and efficient design, construction and operation of their assets throughout the full life cycle.

Employing approximately 11000 talented people in 55 countries, Fugro serves clients around the globe, predominantly in the energy, infrastructure and water industries, both offshore and onshore. In 2023, revenue amounted to EUR 2.2 billion. Fugro is listed on Euronext Amsterdam.

About INPEX

INPEX CORPORATION is Japan's largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the lchthys LNG Project in Australia as Operator. By thoroughly making its oil and gas businesses cleaner while expanding its 5 net zero business areas, INPEX aims to provide a stable supply of diverse and clean energy sources including oil, natural gas, hydrogen and renewables as a pioneer in energy transformation. For more information, visit www.inpex.co.jp

This announcement may contain forward-looking statements. Forward-looking statements are statements that are not historical facts, including (but not limited to) statements expressing or implying Fugro's beliefs, expectations, intentions, forecasts, estimates or predictions (and the assumptions underlying them). Forward-looking statements necessarily involve risks and uncertainties. The actual future results and situations may therefore differ materially from those expressed or implied in any forward-looking statements. Such differences may be caused by various factors (including, but not limited to, developments in the oil & gas industry and related markets, currency risks and unexpected operational setbacks). Any forward-looking statements contained in this announcement are based on information currently available to Fugro's management. Fugro assumes no obligation to in each case make a public announcement if there are changes in that information or if there are otherwise changes or developments in respect of the forward-looking statements in this announcement.