Reference is made to Swift Energy announcements dated 8 December 2025 and subsequent announcement dated on 25 February 2026, in relation to the Memorandum of Understanding ("MOU") between Swift Energy and Gutor.

The Board of Directors of Swift Energy wishes to update on the MOU entered with Gutor on 8 December 2025 remain valid till 7 December 2026, as neither party has not indicated any intention to withdraw.

The MOU is preliminary in nature and does not create any binding financial commitments on Swift Energy. Accordingly, the MOU is not expected to have any material impact on the earnings and earnings per share of Swift Energy at this stage.

This announcement is dated 25 May 2026.