The previous announcements made on 4 March 2016, 8 March 2016, 11 March 2016, 14 March 2016, 21 April 2016, 28 January 2020, 31 January 2020 and 27 February 2020 respectively by Bumi Armada Berhad (“Bumi Armada”) on the above matter refers.

The matter arose out of a dispute between Armada Balnaves Pte Ltd (“ABPL”), our wholly owned subsidiary, and Woodside Energy Julimar Pty Ltd (“WEJ”) in relation to a contract for the provision of FPSO services dated 30 September 2011 (“Contract”). On 4 March 2016, WEJ purported to terminate the Contract by issuing a notice of termination to ABPL which ABPL considered as a repudiation of the Contract, which entitled ABPL to damages.

On 14 March 2016, ABPL filed a Writ of Summons in the Supreme Court of Western Australia (“Supreme Court”) against WEJ for, inter alia, (i) a declaration that WEJ was in repudiatory breach of the Contract and (ii) damages for WEJ’s breach of the Contract. On 24 January 2020, the Supreme Court delivered its judgment in favour of WEJ on ABPL’s main claim of repudiation of the Contract.

On 11 March 2020, ABPL filed an appeal against the Supreme Court’s decision at the Court of Appeal of the Supreme Court of Western Australia (“Court of Appeal”). The appeal was heard by the Court of Appeal from 20 July 2021 to 23 July 2021.

Judgment was delivered by the Court of Appeal on 24 June 2022.

ABPL was unsuccessful in its appeal and ordered to pay WEJ’s costs. Bumi Armada is currently reviewing the judgment and considering possible grounds of appeal. Any application for special leave to appeal to the High Court of Australia is to be lodged within 28 days.

Bumi Armada will provide updates from time to time on any further material developments on this matter.

This announcement is dated 24 June 2022.