JX Energy Ltd. (the “Company”) has announced an agreement to issue 1,987,925 new common shares (the “Exit Shares”) at an issue price of HK$0.279 per share, to be subscribed by the outgoing chief financial officer and joint company secretary, effective October 31, 2025. The allotment is part of her exit package and will utilize approximately 1.90% of the Company’s existing general mandate.

According to Company data, the Exit Shares represent around 0.33% of the existing issued share capital, bringing the total to approximately 608,090,445 shares upon completion. The Company reported that the issue price reflects a discount of about 7.0% to the closing price of HK$0.30 on October 30, 2025, and an approximate 8.22% discount to the average closing price of HK$0.304 for the five trading days prior to October 30, 2025.

Completion of this subscription is contingent upon approvals from the Company’s remuneration committee and board, the Stock Exchange’s listing permission, and any necessary consents. The Exit Shares will rank equally with existing shares once issued and allotted, and the Company plans no further shareholder approval since the issuance falls under its current general mandate. The net issue price, after deducting professional fees and expenses of about HK$36,000, is estimated at HK$0.254 per share.

The Company stated that the arrangement helps settle the exit payment without relying on internal financial resources, avoiding cash outflows. JX Energy Ltd. focuses on natural gas and crude oil exploration and production, primarily in the Western Canadian Sedimentary Basin.

Shareholders and potential investors are advised that the completion of this share issuance depends on the fulfillment of stated conditions, and they should exercise caution when dealing in the Company’s securities.